Koo shuts down🐤
Koo shuts down🐤
Persistent Systems buys Starfish Associates, ONDC to add banks-fintechs, Food delivery market to cross Rs 2 lakh crore, Funding Deals and more.
Welcome to Thursday’s edition of Rise & Shine!
“If you don’t like the road you’re walking, start paving another one.”
- Dolly Parton
Today’s quote reminds us of the power we have to change our path if we find ourselves unhappy with our current journey.
Tech Updates
Indian Twitter rival Koo shuts down after failed acquisition talks
Indian social media app Koo, once seen as a rival to micro-blogging platform X, is shutting down, its founder, Aprameya Radhakrishna, said in a post on LinkedIn on Wednesday.
Persistent Systems buys US software firm Starfish Associates
Indian mid-tier IT firm Persistent Systems (Persistent) today announced the intent to acquire 100% stake in US-based software firm Starfish Associates for $20.7 million (around Rs 173 crore).
ONDC to add banks, fintechs to take credit services to last mile
The homegrown Open Network for Digital Commerce (ONDC) is set to integrate banks such as HDFC Bank, IDFC First Bank and Karnataka Bank, alongside fintech firms like Fibe, in the coming months. Through this integration, participating banks will offer unsecured personal loans and Goods and Services Tax (GST)-based invoice loans, targeting small merchants and retailers in financially underserved regions across the country.
Food delivery market size to cross Rs 2 lakh crore by 2030: Bain-Swiggy report
India’s online food delivery market is expected to grow approximately 18% annually over the next seven years. By 2030, market penetration within the overall delivery sector is expected to rise from 12% to around 20%, according to a joint report by Bain & Company and Swiggy.
Funding Deals
Oyo has raised Rs 416.85 crore (approximately $50 million) from InCred Wealth and Investment.
Enterprise spend management platform Dice has raised $5 million (Rs 42 crore) in a Series A funding round led by venture capital firm Dallas Venture Capital (DVC). The round also saw participation from venture capital fund GVFL (formerly Gujarat Venture Finance Limited).
EleFant, a mobile app-based toy Library, has raised Rs 6 crore (about $750K) in its seed round co-led by Venture Catalysts, Malpani Ventures with participation from several notable investors and family offices. The funding round saw participation from a roster of investors, including Sudhakar Pai, (MD, Kurlon Industries), Jyothi Pradhan (CEO – Kurlon) Family Office, Agre Global FZE, Growth 91/Growth Sense, IVY Growth, Serious One Capital.
Wellness brand Hoop has secured an undisclosed sum of investment from Olympic medalist PV Sindhu. This looks like equity against brand promotion as the badminton champion has also joined as an ambassador of Hoop.
🛣️ Short Story: The Brave Path Changer
Emma had spent ten years in a corporate job that left her feeling unfulfilled and drained. Every day felt like a monotonous cycle, and the spark she once had for her work had long faded.
One evening, while reflecting on her life, she came across Dolly Parton’s words: “If you don’t like the road you’re walking, start paving another one.”
Inspired, Emma decided to take a leap of faith. She had always been passionate about baking, so she enrolled in a pastry course and began experimenting with recipes in her small kitchen.
Slowly but surely, she started selling her baked goods at local markets. Her unique creations gained popularity, and soon, she was able to open her bakery.
Emma’s decision to pave a new road led to a fulfilling career doing what she loved. Her bakery became a community favorite, and she found joy and satisfaction in her work every day.
By choosing to change her path, Emma transformed her life and discovered true happiness.
Tweet of the day🐥
As we navigate our daily lives, it’s important to remember that we hold the power to change our direction.
If you find yourself unhappy with your current path, don’t be afraid to start paving a new one.
Embrace the courage to follow your passions and create a life that brings you joy.
Each quote and story in Rise & Shine is designed to uplift your spirit, motivate you to take action, and remind you that every day is a new opportunity for greatness.
Have an inspiring Thursday, and don’t be afraid to pave your path!
Thanks for reading till the end!