Flipkart launches Super.Money💰
Aris Infra plans to raise Rs 600-700 Cr, Infosys working on 225 GenAI programs, IT firms chasing acquisitions, Funding Deals and more.
Welcome to Thursday’s edition of Rise & Shine!
“You cannot plow a field by turning it over in your mind. To begin, begin.”
- Gordon B. Hinckley
Today's quote emphasizes the importance of action over contemplation.
Let's explore the significance of taking that first step towards our goals.
Tech Updates
Flipkart launches UPI app Super.Money to offer financial services
E-commerce major Flipkart has launched a unified payments interface (UPI) app Super.Money to offer payments, credit, deposits, and other digital financial services. As a part of the beta version, the app will be available for initial 100,000 users. The app is live in partnership with Axis Bank while it will also offer credit through Utkarsh Small Finance Bank.
Aris Infra plans to raise Rs 600-700 crore via IPO
Aris Infra, a technology-driven construction material procurement platform, is looking to raise Rs 600-700 crore through an initial public offering (IPO). The Mumbai-based company is backed by high-net-worth individuals (HNIs) and family offices such as PharmEasy CEO Siddharth Shah, San Francisco-based Think Investments, and partners from private equity firms such as TPG Capital, Temasek, and BlackRock.
Infosys working on 225 GenAI programs for clients; enterprise AI will take years to unfold: Nilekani
The world is at a very early stage of the GenAI revolution and unlike consumer AI which will roll out quickly, enterprise AI will take several years to unfold, Nandan Nilekani, cofounder and chairman of Infosys, said in his address to shareholders at the company's 43rd annual general meeting (AGM).
IT firms chasing acquisitions to enhance their topline and skills
Indian information technology (IT) services firms are banking on acquisitions to fuel growth amid a dire need for investments in new capabilities, especially GenAI, as a slowdown in global demand keeps away opportunities for organic expansion.
Funding Deals
Online gold loan platform Rupeek has secured Rs 125 crore (approximately $15 million) in primary funding from Elevation Capital. This is the second tranche of the new round in which 360 One Large Fund had already put in $6 million during May.
Electric motorcycle maker Matter Motors has raised Rs 82 crore in a funding round that saw investments from Japan Airlines & TransLink Innovation Fund and Helena Special Investments Fund, among others.
Consulting firm Novavente has raised $3 million in an investment round led by Highbrow Securities.
Fabless semiconductor startup Morphing Machines has raised $2.76 million in its seed round led by Speciale Invest, a seed-stage VC investing in deep technologies. The round also saw participation from IvyCap Ventures, Golden Sparrow, Navam Capital, CIIE Initiatives, and DeVC.
Nitro Commerce, a revenue-as-a-service platform for ecommerce and D2C brands, has secured Rs 15 crore ($1.8 million) in a seed funding round led by Cornerstone Ventures. The round also saw participation from Warmup Ventures, Lead Angels, Dholakia Ventures, India Accelerator as well as individual investors Arjun Vaidya, Kunal Khattar, Nikunj Jain, and Piyush Jain.
Social networking app O hi has raised Rs 8 crore (nearly $1 million) in its pre-Series A round led by existing investors JIIF and included participation from several marquee angel investors.
🧑🏻🌾 Short Story: The Reluctant Farmer
In a small village, a farmer named John owned a vast, fertile field. He often dreamt of having a bountiful harvest but found himself constantly thinking and planning rather than acting.
John would sit for hours, imagining the perfect way to plow his field and plant his crops, but he never took the first step to begin.
One day, his neighbor Mary noticed his empty field and asked him why he hadn’t started planting. John explained that he was waiting for the perfect plan. Mary smiled and said, “John, the perfect plan is to start. You can’t harvest crops you never plant.”
Realizing the truth in her words, John picked up his tools and began plowing. The work was hard and messy, far from his envisioned perfect process. But as the days passed, he saw his field transform.
By the end of the season, John’s once-empty field was filled with thriving crops, and he learned the value of taking action rather than just planning.
Tweet of the day🐥
John’s story is a powerful reminder that while planning is important, action brings our dreams to life.
Overthinking can often lead to inaction, but by taking the first step, we set the wheels of progress in motion.
Reading Rise & Shine daily can help you start your day on a positive note, encouraging you to transform your thoughts into actions.
Have an action-packed Thursday, and remember, to begin!
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!