HUL acquires 90.5% stake in Minimalist🧴
UPI-enabled credit cards see growth, SoftBank-OpenAI launch $500 bn AI infrastructure project, Go Digit, Funding Deals and more.
Good morning and welcome to Thursday’s edition of Rise & Shine!
“The measure of a man is what he does with power.”
- Plato
Today, Plato’s timeless words remind us that true character is revealed not in moments of ease, but in how we handle power and influence.
Whether it’s a position of authority, influence, or even the ability to impact someone’s day, true strength lies in using power for good: to inspire, uplift, and make a positive difference.
Tech Updates
HUL acquires 90.5% stake in Minimalist at Rs 2,955 Cr valuation
Hindustan Unilever Limited (HUL), a fast-moving consumer goods company, has acquired the homegrown skincare brand Minimalist at a pre-money valuation of Rs 2,955 crore (nearly $350 million). The HUL board has entered into a Share purchase agreement to acquire 90.5% of Minimalist shares at a cash consideration of Rs 2,670 crore (secondary buyout), along with Rs 45 crore as a primary infusion into the company.
UPI-enabled credit cards see 20% monthly transaction growth: Report
RuPay’s Unified Payments Interface-enabled credit cards are seeing a 20% spike in average monthly transactions, according to a report by digital payments startup Kiwi.
SoftBank, OpenAI launch $500 billion AI infrastructure project, Masayoshi Son named chairman
SoftBank Group and OpenAI have announced a new venture, "The Stargate Project”, a $500 billion initiative to build AI infrastructure across the US. The mega venture will bring together some of the most influential and charismatic technology leaders, with Masayoshi Son serving as Stargate’s chairman and Sam Altman taking over operational responsibilities.
Go Digit General Insurance Q3 net profit rises 175% on strong business growth
Fairfax-backed public insurer Go Digit reported a 175% year-on-year growth in net profit due to strong insurance premium collection. Net profit stood at Rs 118 crore vs Rs 42.8 crore a year earlier. Gross written premium of Rs 2,676 crore vs Rs 2,427 crore a year ago. Total income stood at Rs 2,371 crore in the quarter.
Funding Deals
Industrial robotics company Ati Motors has raised $20 million in its Series B round, led by Walden Catalyst Ventures (WCV) and NGP Capital (NGP), with participation from current investors including True Ventures, Exfinity Venture Partners, Athera Venture Partners, and Blume Ventures.
Business journey observability provider VuNet Systems has raised Rs 60 crore (around $6.94 million) in a Series B funding round led by Pravega Ventures. The round also saw participation from Kotak Securities and existing investors such as Mela Ventures, Athera Venture Partners, Dallas Venture Capital, and TVS Capital Funds.
Property title search engine platform Landeed has raised $5 million in its Series X round led by 10x Founders Fund. Oliver Jung, Paradigm Shift, Pioneer Fund, Jeffrey Epstein, Founder of Onboard and Aaron King, founder of Snapdocs, among others, have also participated.
Cancrie, a startup focused on advanced nanocarbon materials for energy storage, has raised $1.2 million in a seed funding round co-led by Roots Ventures and IIMA Ventures.
Office space management company Workie has raised Rs 13 crore in equity funding from a distinguished group of investors. The Sunil Singhania Family Office, NAV Capital, Raman Roy, Dharmendra Jain, Gaurav Singhvi, Sunil Singhvi, and other investors co-led the round.
Biotech startup Exsure has raised Rs 3 crore in a seed round led by Unicorn India Ventures.
Sanlayan Technologies, a strategic electronics startup, has acquired a majority stake in Dexcel Electronics, a 20-year-old embedded systems company.
💼 Short Story: The Compassionate CEO
When Priya became the CEO of her company, she chose to lead with empathy and fairness. Instead of focusing solely on profits, she implemented policies to improve employee well-being and create a collaborative environment. Her decisions not only boosted morale but also drove the company’s success.
Priya’s actions demonstrated that leadership rooted in kindness and responsibility is the truest measure of greatness.
Tweet of the day🐥
As you move through your day, consider how you wield your influence—big or small.
Rise & Shine reminds you that power, when used with integrity, has the potential to create lasting positive change.
Have a thoughtful and impactful Thursday!
Thanks for reading till the end!