Flipkart & PhonePe on Path To Profitability💸
Centre eyeing one startup in every district, Snapchat introduces safety features, Ecom Express set to raise over $170 Mn, Funding Deals and more.
Welcome to Wednesday’s edition of Rise & Shine!
“He that can have patience can have what he will.”
- Benjamin Franklin
Today’s quote emphasizes the virtue of patience and how it can lead to achieving our desires and goals.
Tech Updates
Flipkart & PhonePe on Path To Profitability, Says Walmart CFO
US-based retail major Walmart’s chief financial officer (CFO) David Rainey has said that ecommerce major Flipkart and digital payments giant PhonePe are on “path to profitability”. On PhonePe, the Walmart CFO said that the fintech major is clocking “roughly $1.5 Tn of total payments volume (TPV)”.
Centre eyeing one startup in every district by next year
The government is optimistic about its plan to have at least one registered startup in all 785 districts of the country, industry department officials said. With only 20-25 districts remaining without a startup, the goal is expected to be achieved within a year.
Snapchat introduces safety features to safeguard teens
Instant messaging app Snapchat has introduced new safety features to protect teenagers from online harm. These features include improved blocking capabilities, simplified location-sharing, enhanced friending protections, and expanded in-chat warnings.
Ecom Express set to raise over $170 Mn via right issue
Logistics firm Ecom Express is raising Rs 1,424 crore (approximately $172 million) from existing investors via right issue. This will be the first round of investments of the Gurugram-based company this year. Launched in 2012, Ecom Express claims to provide logistics services in over 2,700 towns and 27,000 pin codes in India. It employs over 50,000 people and has more than 3,000 facility centers.
Funding Deals
Software and robotics startup Bright Machines raised $106 million in a Series C funding round that included Nvidia and Microsoft as investors.
Rocketlane, a B2B software-as-a-service (SaaS) startup, has raised $24 million (about Rs 200 crore) in a funding round co-led by 8VC, Matrix Partners India, and Nexus Venture Partners.
Healthcare startup Doceree has raised Rs 113.5 crore (approximately $13.6 million) from Indian private equity firm Creaegis.
D2C dairy brand Sid’s Farm has raised $10 million in Series A funding co-led by Omnivore and Narotam Sekhsaria Family Office (NSFO).
Women-focused D2C fashion startup LetsDressUp has raised Rs 11 Cr ($1.3 Mn) in a Pre-Series A funding round from a clutch of investors, including GVFL Limited, Indian Angel Network and The Chennai Angels.
The round also saw participation from its existing investor Titan Capital.
Gold investment app Plus Gold has raised $1.2 million in a seed funding round led by JITO along with participation from Venture Catalyst, Sonakshi Sinha, Sachin Shetty, Signal Ventures, Varun Dua, Shrish Mishra, Misfits among others.
💐 Short Story: The Patience of the Gardener
In a quiet village, there was a gardener named Thomas who loved to cultivate rare and beautiful flowers. One day, he received a seed of an extraordinary flower known for its unparalleled beauty.
However, this flower had a unique characteristic: it would only bloom after five years of careful nurturing.
Undeterred by the long wait, Thomas planted the seed in his garden. Every day, he watered it, protected it from pests, and ensured it received the right amount of sunlight. Year after year, he saw no sign of the flower, but he remained patient and diligent in his care.
Finally, after five long years, a small bud appeared. Thomas continued to care for it with the same patience and dedication.
When the flower finally bloomed, it was the most beautiful and fragrant flower anyone had ever seen. People from all around came to marvel at the rare flowers, and Thomas's garden became famous.
Tweet of the day🐥
Thomas’s story reminds us that patience is a powerful virtue that can lead to remarkable outcomes.
Just like the rare flower, many of our goals and dreams require time and consistent effort to come to fruition.
By cultivating patience, we allow ourselves to achieve what we truly desire.
Starting your day with the wisdom from Rise & Shine helps you embrace the virtues of patience and persistence.
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!