Karnataka govt puts job reservation bill on hold🚨
Karnataka govt puts job reservation bill on hold🚨
1.5 million developers use Gemini globally, Zomato shares bought worth Rs 635 Cr via block deals, Nazara’s Rs 1120 Cr GST notice, Funding Deals and more.
Good morning and welcome to Thursday’s edition of Rise & Shine!
“Be sure you put your feet in the right place, then stand firm.”
- Abraham Lincoln
Today’s quote underscores the importance of making thoughtful decisions and standing firm in our convictions.
Once we’ve chosen the right path, unwavering commitment is essential to achieve our goals and uphold our values.
Tech Updates
Over 1.5 million developers use Gemini globally, India among the largest: Google Deepmind
Over 1.5 million developers globally are already using Gemini, Google's suite of multimodal artificial intelligence (AI) models, with India boasting one of the largest user bases on the tech giant's developer platform Google AI Studio, Manish Gupta, director, Google DeepMind, said.
Karnataka govt puts job reservation bill on hold post uproar
Amid backlash from all fronts, the Congress government in Karnataka has put the controversial job reservation bill on hold.
As per the Karnataka State Employment of Local Candidates in the Industries, Factories, and Other Establishments Bill, 2024, “Any industry, factory, or other establishment shall appoint 50% of local candidates in management categories and 70% in non-management categories.”
Societe Generale, Morgan Stanley and others buy Zomato shares worth Rs 635 crore via block deals
Zomato witnessed a dozen block deals with a combined worth of Rs 635 crore on Tuesday where France's Societe Generale was the top buyer at Rs 290 crore. Other prominent buyers were Goldman Sachs Investments (Mauritius) I Limited and Morgan Stanley Asia Singapore PTE who bought Zomato shares worth Rs 21 crore and Rs 10 crore, respectively. The only seller was Motilal Oswal Mutual Fund, which sold over 2.84 crore shares at a price of Rs 226.85 per equity share amounting to Rs 646 crore.
Nazara’s subsidiaries receive Rs 1,120 Cr GST notice
Openplay Technologies and Halaplay Technologies, the two subsidiaries of listed gaming firm Nazara Technologies, have received notice from the Goods and Services (GST) department to pay nearly Rs 1,120 crore in retrospective taxes for the period of FY18 to FY23. Openplay has a proposed liability of Rs 845.72 crore whereas Halaplay has been asked to pay Rs 274.21 crore, Nazara disclosed through a stock exchange filing on Wednesday.
Funding Deals
Non-banking financial company (NBFC) Seeds Fincap has raised over $8.5 million in a Series A funding round led by Lok Capital and Z47 (formerly Matrix Partners India).
Consumer lighting startup Corvi LED has raised $8 million (Rs 65.6 crore) as part of its Series B funding round from Enam Investments.
byteXL, an edtech platform focused on engineering education, has raised $5.9 million in its Series A round led by Kalaari Capital, along with Michael and Susan Dell Foundation.
Watertech startup Boon has raised $5 million in a funding round led by Spanish Roca Group Ventures, its first investment in India. The fundraise was a mix of equity and debt.
OmniCard, a business spend management startup, has secured $3 million in a pre-series A round led by Ankurit Capital and Taisys of Taiwan.
Ninecamp Ventures, a new generation food and beverage firm, has raised $2 million (Rs 16 crore) in its seed round from notable angels and non-institutional investors. The funding round saw participation from a cohort of esteemed investors, including Mohit Gupta, Gaurav Gupta (former Zomato co-founders), Varun and Ghazal Alagh (founders MamaEarth), Vikram Chopra, Ruchit Agarwal, Mehul Agrawal, Gajendra Jangid (founders Cars 24), Vir Das (comedian, actor), and Divine (musician), Atul Singh (ex-chairman, Coca-Cola Asia Pacific), Dharmil Sheth (co-founder, PharmEasy), Utsav Somani (ex AngelList), Ritesh Kumar (managing director, DS Group), Aaditya Mittal (founder, Punnya).
Honestly, an AI-powered beauty and personal care (BPC) review platform raised Rs 3.2 crore in a pre-seed funding round led by Better Capital.
🧍🏻♂️Short Story: Standing Firm in the Right Place
Emily, a young environmental activist, faced immense pressure from various interest groups to compromise her principles.
She took her time to research, evaluate the facts, and decide the best course of action.
Once she determined her path, she stood firm, advocating tirelessly for sustainable practices. Her resolve inspired others, leading to significant environmental policy changes in her community.
Tweet of the day🐥
Today, take a moment to ensure your decisions align with your values and goals.
Once you’re confident in your direction, stand firm and let your determination guide you.
Rise & Shine aims to empower you to make thoughtful choices and steadfastly pursue your ambitions.
Have a determined Thursday, and let your unwavering commitment pave the way to success!
Thanks for reading till the end!