First Ambani-Adani pact🤝🏻
Honasa targets Gen Z with Staze, Adani infuses ₹6,661 Cr in Ambuja, Byju’s Friday EGM, Funding Deals and NEW SHORTS!!!
Hello, Advocates of Growth and Champions of Progress!
"Devote the rest of your life to making progress."
- Epictetus
Envision a world where every step forward brings us closer to our goals and aspirations.
Join us as we delve into the timeless wisdom of Epictetus, reminding ourselves of the importance of dedicating our lives to the pursuit of growth.
Get ready to ignite the flame of progress within and embark on a journey of lifelong learning and development.
Tech Updates
First Ambani-Adani pact: RIL picks 26% stake in Adani Power's MP project
In the first collaboration between rival billionaires, Mukesh Ambani's Reliance Industries has picked up a 26 percent stake in a Madhya Pradesh power project of Gautam Adani, and signed a pact to use the plants' 500 MW of electricity for captive use. Reliance will pick up five crore equity shares in Mahan Energen Ltd, a wholly owned subsidiary of Adani Power Ltd, of face value ₹10 at par (₹50 crore).
Honasa Consumer targets Gen Z with colour cosmetics brand Staze
Honasa Consumer, the parent company of beauty and personal care (BPC) brand Mamaearth, has entered the colour cosmetics space with a new brand ‘Staze’, targeted at 18 to 24-year-olds. Staze is the seventh brand in Honasa Consumer’s portfolio after Mamaearth (its largest), The Derma Co, Aqualogica, Ayuga, Dr Sheth’s and Bblunt.
NCLT refuses to stay Byju’s Friday EGM for $200-million rights issue
On Thursday, the National Company Law Tribunal (NCLT), Bengaluru, refused to stay the extraordinary general meeting (EGM) called by Byju’s on Friday to increase the authorized share capital to account for its $200-million rights issue. The company needs new capital desperately to manage daily operations and clear pending dues.
Gautam Adani infuses ₹6,661 crore to boost stake in Ambuja Cements to 66.7%
Indian billionaire Gautam Adani and his family injected $799 million to increase its stake in Ambuja Cements Ltd. The business tycoon showed signs of confidence in its cement business amid the country’s infrastructure boom. With this move, the Adani family has increased their stake in Ambuja by 3.6 percent to attain a 66.7 percent holding.
Would you love to read such “shorts”? ;)
🦹🏻 FTX founder Sam Bankman-Fried sentenced to 25 years in prison for multi-billion dollar fraud
💰 VC firm Accel nurtures 8 early-stage Indian startups, AI and Industry 5.0 in focus
📊 SoftBank-backed Swiggy records $200 million loss in nine months to Dec 2023 ahead of IPO
Funding Deals
Chennai-based education firm Veranda Learning has raised Rs 425 crore in debt funding through non-convertible debentures (NCDs) from BPEA Investment Managers Private Limited (BPEA Credit).
Skyflow, a software service provider that stores user data for companies, has raised $30 million to extend its Series B funding round. Khosla Ventures and existing investors Mouro Capital, Foundation Capital, and Canvas Ventures led the round.
New generation microfinance firm Sindhuja Microcredit has raised $14.5 million (Rs 120 crore) in its Series C round from GAWA Capital (through its vehicle Huruma Fund) and Oikocredit.
AI security and risk management startup SydeLabs has raised $2.5 million in its seed round led by RTP Global. The round also saw participation from Picus Capital and marquee angel investors such as Kunal Shah and Sai Srinivas Kiran.
Fintech firm MobiKwik has raised Rs 50 crore in debt from BlackSoil Capital.
🌆 Short Story: The Power of Progress
In a bustling city, a dedicated entrepreneur named Sarah embraced the wisdom, "Devote the rest of your life to making progress."
Through perseverance and a commitment to continuous improvement, Sarah transformed her business from a small startup into a thriving enterprise.
With each milestone achieved, she celebrated her progress and remained steadfast in her pursuit of excellence, inspiring others to do the same.
Tweet of the day🐥
As we conclude this edition, reflect on the journey of progress you've embarked upon and the endless possibilities.
Thank you for being part of our community, where together, we embrace the pursuit of growth and strive to become the best versions of ourselves.
Stay tuned for our next edition as we explore new horizons and continue our quest for personal and collective advancement.
Feel free to share it with someone who could use a little inspiration. Let's pass on the good vibes and make someone's day!
Thanks for reading till the end!
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