Boat brings bankers on board for IPO⛵
Delhivery swings to profit, Q-comm may corner $1 billion of kirana biz, MPL’s Blast to invest in XSQUADS, Funding Deals and more.
Good morning and welcome to Friday’s edition of Rise & Shine!
“The greater the obstacle, the more glory in overcoming it."
— Molière
Today, Molière’s inspiring words remind us that our challenges are not roadblocks—they are opportunities to achieve greatness through perseverance and resilience.
When we confront them head-on and overcome them, we grow and create stories of triumph that inspire others and ourselves.
Tech Updates
Boat brings bankers on board for $300-500 million IPO next year
Homegrown wearable and audio products brand Boat has finalised ICICI Securities, Goldman Sachs, and Nomura as bankers for a $300-500 million initial public offering (IPO) next year. Boat filed draft papers for a public offering in 2022 but paused the plan due to market conditions.
Delhivery swings to profit, revenue up 13% at Rs 2,190 crore
Gurugram-based Delhivery posted a consolidated net profit of Rs 10 crore for the quarter ended September 30, 2024 against a loss of Rs 103 crore in the year-ago period. However, the profit was down 81% from Rs 54 crore reported in the preceding quarter.
Quick commerce may corner $1 billion of kirana business: Report
More than $1 billion of kirana sales may move to quick commerce in 2024, according to ecommerce consultancy Datum Intelligence. The growth in quick commerce has affected kirana sales, with 46% of quick commerce shoppers reducing their purchases from kirana stores, the report added.
MPL’s Blast to invest in gaming studio XSQUADS
Skill-based gaming unicorn Mobile Premier League (MPL)’s publishing arm Blast has put its first bet by investing in Surat-based game development firm XSQUADS. Launched early this month, Blast focuses on bringing new games from global and indie gaming studios to India.
Funding Deals
Drone technology startup Airbound has raised $1.7 million in a seed round led by Lightspeed, with additional participation from gradCapital and other angel investors.
LegalKart, a legal consultation platform, raised Rs 6.5 crore in its latest funding round from IIM Udaipur Incubation Centre. Aevitas Capital, Shift Alt Cap, and others have also participated.
Hydrogen separation technology startup Hydrogen Mem-Tech has secured a strategic investment co-led by Peak Sustainability Ventures and London-based AP Ventures.
🧗🏻♀️ Short Story: The Climber’s Victory
Emma, a novice mountaineer, took her most challenging climb yet. Halfway up, she faced harsh weather and moments of self-doubt. Every step felt like a battle against her limits. Yet, she refused to give up, focusing on each small progress she made.
When Emma finally reached the summit, the view and sense of accomplishment were indescribable. The obstacles she overcame made the victory even sweeter, proving that the struggle was a vital part of her success.
Tweet of the day🐥
As you wrap up the week, remember that every challenge you face is an opportunity to grow stronger. Embrace obstacles as stepping stones to greatness.
Rise & Shine is here to remind you that glory lies not in avoiding difficulty but in rising above it.
Have a triumphant and inspiring Friday!
Thanks for reading till the end!