Flipkart prepares for festive sales🎉
Amazon nears acquisition of Axio, Indian space tech startups secured $126 mn funding, Shiprocket has big plans for offline, Funding Deals and more.
Good morning and welcome to Wednesday’s edition of Rise & Shine!
"When you judge another, you do not define them, you define yourself."
— Wayne Dyer
Today’s quote offers a profound insight into the nature of judgment and self-reflection.
By understanding this, we can learn to approach others with empathy and open-mindedness, while also gaining deeper insight into ourselves.
Tech Updates
Amazon nears complete acquisition of Axio in all cash deal
E-commerce major Amazon appears to be inches away from its second acquisition in the Indian fintech space, after Emvantage. The company is in advanced discussion to acquire online lending platform Axio (formerly Capital Float). Amazon is already an investor in Axio which participated in its Rs 144 crore worth extended Series C round in 2018. Currently, the firm owns around 8% of the Bengaluru-based lending platform.
Flipkart consolidates fintech offerings ahead of festive sales
Flipkart has integrated its various fintech services into a single vertical named Flipkart Pay. The ecommerce major will offer a host of services under the Pay vertical, including UPI, recharge and bill payments, insurance, purchase financing, co-branded credit cards and buy-now-pay-later (BNPL) services.
Indian space tech startups secured $126 million funding in 2023, up 7% from 2022: Report
India's space technology sector saw a funding surge in 2023, receiving $126 million, a 7% growth over 2022’s $118 million. This also reflects a 235% increase compared to the $37.6 million raised in 2021, according to data intelligence platform Tracxn.
Shiprocket has big plans for offline ecommerce space
Zomato-backed Shiprocket is expanding beyond servicing online retailers, as it looks to enable ecommerce transactions for the offline general trade segment. To that end, Shiprocket has launched a WhatsApp storefront bot and is also rolling out a quick shipping service for small businesses and direct sellers. It has rolled out the fast-delivery offering Shiprocket Quick across Delhi-NCR, Bengaluru, Hyderabad and Pune.
Funding Deals
Fintech firm BharatPe has raised Rs 85 crore (approximately $10 million) in debt through non-convertible debentures. Trifecta Venture debt pumped in Rs 50 crore while Innoven Capital participated with Rs 35 crore, shows filing.
Electric vehicle super-app ElectricPe has raised $3 million in pre-Series A round led by Green Frontier Capital along with participation from its existing investors Blume Ventures, Micelio Fund, and NB Ventures.
Legal-tech startup DecoverAI has secured $2 million in a seed funding round led by Leo Capital along with participation from other investors.
Nazara Technologies’ mobile gaming arm Next Wave Multimedia has acquired the intellectual property rights of Ultimate Teen Patti from Games24X7 for Rs 10 crore.
👨🏻🏫 Short Story: The Reflective Teacher
Mark, a dedicated teacher, found himself frequently frustrated with one particular student, Liam, who seemed disinterested and disruptive.
Initially, Mark judged Liam harshly, seeing him as a detriment to the classroom environment. However, reflecting on Wayne Dyer’s words, Mark began to question his own perceptions and reactions.
Seeking a deeper understanding, Mark spent time with Liam, discovering that he faced challenges at home that affected his behavior and engagement at school. This revelation shifted Mark's judgment to compassion and he worked to support Liam’s learning in new ways.
This not only transformed Liam’s experience in school but also taught Mark a valuable lesson about the limits of judgment and the power of empathy.
Tweet of the day🐥
As you go through your day, consider how your judgments reflect your own perceptions and experiences.
Rise & Shine encourages you to use moments of judgment as opportunities for self-reflection and growth.
Cultivate a mindset that seeks to understand rather than to judge, enhancing both your personal development and your interactions with others.
Have a thoughtful and introspective Wednesday!
Thanks for reading till the end!