Byju's to Sell Epic and Great Learning📚, KKR's ₹2,069 Cr Bet on RIL Retail🛒
Razorpay's BillMe Play, Karnataka's Tech Ambitions, Indian Firms Eye London Stock Exchange, Funding Deals and more.
Hi Everyone👋🏻,
Welcome to the newsletter! Here, you'll find the newest tech updates, startup insights, and inspiration.
Get ready to start your day the smart way!
If you've already joined, invite your friends to join as well!
Let's embark on this journey to knowledge and growth together!
Tech Updates
📚 Byju's to Sell Epic and Great Learning to Repay $1.2 Billion Loan 💸
Edtech giant Byju's is making strategic moves to repay its $1.2 billion loan by selling two valuable assets: Epic and Great Learning. This decision aims to generate $800 million to $1 billion in cash, helping Byju's fulfill its financial commitment. 🚀📚
🛒 KKR Boosts Stake in Reliance Retail with ₹2,069 Crore Investment 🏬
Global investment firm KKR is strengthening its position in Reliance Retail Ventures Ltd (RRVL) with an additional investment of ₹2,069 crore. This move will raise KKR's stake in RRVL from 1.17% to 1.42%. KKR invested ₹5,550 crore in 2020, supporting Reliance Retail's diverse offerings across various sectors. 📈🛍️
💳 Razorpay Expands Its Offline Business with BillMe Acquisition 📊💼
Fintech unicorn Razorpay, backed by Tiger Global, has made a strategic move by acquiring BillMe, a Mumbai-based digital invoicing and customer engagement platform operated by JHKP Technologies Pvt. Ltd. This acquisition aims to facilitate Razorpay's expansion into the offline business sector. 📈
🌐 Karnataka's Ambitious Plans to Attract Global Tech Firms 🏢
Priyank Kharge, Karnataka's Information Technology Minister, has announced its plans to broaden its horizons and attract investments from global companies, particularly in the electronics and semiconductor sectors. Karnataka aims to become a magnet for international tech firms, further expanding its presence in the global technology landscape. 🌟🌏
🏢 Indian Firms Eye London Stock Exchange Listing 🌐📈
Indian companies are exploring the possibility of being listed on the London Stock Exchange, a move discussed during the India-UK Economic and Financial Dialogue. This potential expansion offers new avenues for Indian businesses to access international capital markets. 🤝🇮🇳🇬🇧
Funding Deals
Perfios, a B2B SaaS fintech startup, has raised $229 million in Series D funding round from private equity investor Kedaara Capital through the combination of primary fundraise and a secondary sale.
Regulatory tech company TSS Consultancy has secured an undisclosed investment from WestBridge Capital at a valuation of Rs 900 crore, marking its maiden round.
Intercity food delivery platform JustMyRoots has acquired a foodtech startup The State Plate (TSP). With this acquisition, The State Plate plans to fortify its presence in the packaged intercity food market across India.
Early-stage investment firm Venture Catalysts has announced a full exit from its portfolio Koovers, a B2B e-commerce platform for auto spare parts, with 2.1x returns in 1.5 years.
Vertex Ventures Southeast Asia and India (“VVSEAI”) has completed the fundraising for its fifth and newest fund with commitments of $541 million.
Tweet of the day🐥
“Calm consideration was much better than rushing to desperate conclusions”
- Frank Kafka
Set the reminder - iPhone15 and more…
🚀 That's a wrap for today's tech rollercoaster! Hope your day's charged up!
Catch those dreams and meet us back here tomorrow for the Weekly Review edition.
Until then, stay geeky, stay curious, and remember, the future's just a click away! 🌟
