Flipkart Singapore infuses Rs 1421 Cr🛒
Flipkart Singapore infuses Rs 1421 Cr🛒
Paytm UPI share drops, Ola Cabs to exit international markets, Cornerstone Ventures launches second fund, Funding Deals and more.
Greetings, Seekers of Purpose and Direction!
"If a man knows not to which port he sails, no wind is favorable."
- Seneca
Imagine life as a grand voyage, with each of us as captains of our destiny.
Yet, without a clear destination in mind, even the most favorable winds may lead us astray.
Join us as we explore the significance of setting sail with purpose and intention, steering our lives toward the ports of fulfillment and meaning.
Tech Updates
Flipkart Singapore parent infuses Rs 1,421 crore in marketplace arm
Walmart-owned Flipkart, through its Singapore holding company, has infused Rs 1,421 crore (or around $170 million) in its Indian marketplace entity Flipkart Internet in two tranches on March 23 and April 6, according to filings sourced from the Registrar of Companies (RoC).
Paytm UPI share drops further in March; PhonePe, Google Pay show gains
Digital payments major Paytm has reported a slight drop in Unified Payments Interface (UPI) transactions in March, as per data by the National Payments Corporation of India (NPCI). In March, Paytm processed around 1.2 billion UPI transactions, down slightly from 1.3 billion in February and 1.4 billion in January of this year.
Ola Cabs to exit international markets this month
Ride-hailing major Ola Cabs is set to exit all of its existing international markets, namely the UK, Australia, and New Zealand by the end of this month. The company has started sending out notifications to users about the impending closure, with operations set to cease in Australia on April 12.
Cornerstone Ventures launches second fund with $200 million corpus
Venture capital (VC) firm Cornerstone Ventures, which specialises in business-to-business (B2B) enterprise technology investments, announced the launch of its second fund with a target size of $200 million including a green-shoe option of $50 million.
Funding Deals
Sprinto, a compliance automation platform for SaaS companies, has secured $20 million in Series B funding round led by Accel along with participation from existing investors Elevation Capital and Blume Ventures.
Neysa, an AI cloud and platform-as-a-service startup, has secured $20 million in seed funding led by Matrix Partners India, Nexus Venture Partners, and NTTVC.
B2B waste management and recycling marketplace Recykal has raised Rs 80 crore from 360 One Large Fund.
Healthcare startup PlatinumRx has raised $800,000 in a seed round from India Quotient, along with participation from several prominent angel investors.
Electric mobility tech platform AutoNxt Automation has raised its pre-Series A round led by Saama Capital. Amit Singhal, Suveer Sinha, Bluehill Capital, Keiretsu Forum, Soonicorn Ventures, and other marquee investors participated in the round.
Global payment orchestration platform Paytring has raised an undisclosed amount in its first strategic pre-seed funding round led by global fintech company Unlimit.
12 Flags Group, the India-focused consumer fund set up by former global chief of Reckitt Benckiser Rakesh Kapoor, has made its first investment in speciality coffee chain Blue Tokai Coffee Roasters.
Ghost Kitchens India has announced the acquisition of Shy Tiger Brands, a cloud kitchen company based out of Ahmedabad.
Artificial intelligence startup Symbolica, which develops foundation models to compete with ChatGPT creator OpenAI, announced a $31 million series A funding round led by Khosla Ventures. General Catalyst, Abstract Ventures, and Buckley Ventures also participated in the round.
🧭 Short Story: The Navigator's Quest
In a quaint seaside village, there lived a young sailor named Diego, whose heart yearned for adventure and discovery.
Inspired by Seneca's wisdom, he set out on a quest to find his true calling, realizing that without a clear destination, he was merely adrift in the vast sea of life.
Through trials and tribulations, Diego embarked on a journey of self-discovery, charting his course with unwavering determination and a steadfast belief in his dreams.
Tweet of the day🐥
As we conclude this edition, may you chart your course with clarity and purpose, knowing that with a clear destination, every wind becomes a guiding force propelling you toward your dream.
Thank you for joining us on this transformative journey of self-discovery and purpose.
Stay tuned for our next edition as we continue to navigate the seas of wisdom and inspiration.
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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