Magicpin: Largest food delivery seller on ONDC📍
BlackBuck gets Sebi clearance, IndiaAI Datasets Platform set to go live, Bluestone sees 64% revenue growth, Funding Deals and more.
Good morning and welcome to Thursday’s edition of Rise & Shine!
"The most certain way to succeed is always to try just one more time."
— Thomas Edison
Today, Thomas Edison’s encouraging words remind us of the power of persistence. Sometimes, success is just one more attempt away.
This quote encourages us to push through moments of doubt, knowing that each attempt brings us closer to our goal.
Tech Updates
Magicpin becomes largest food delivery seller app on ONDC
Magicpin has emerged as the largest food delivery seller on the Open Network for Digital Commerce (ONDC), processing nearly 150,000 daily food and logistics orders. Since joining ONDC in March 2023, Magicpin claims to have expanded its restaurant partnerships from 22,000 to 70,000 by September 2024. Within just four weeks of its ONDC launch, Magicpin scaled from 100 to 10,000 orders in May 2023, reaching 150,000 orders this year.
BlackBuck gets Sebi clearance for proposed IPO
The Securities and Exchange Board of India (Sebi) has granted clearance to Flipkart-backed truck aggregator platform BlackBuck for its proposed initial public offering, according to a notification on the regulator’s website. The Bengaluru-based company filed a draft red herring prospectus (DRHP) with Sebi in July for an IPO to raise Rs 550 crore in fresh capital.
IndiaAI Datasets Platform set to go live by January next year
The IndiaAI Datasets Platform, one of the pillars of the government’s Rs 10,000 crore IndiaAI Mission, will go live by January 2025, Nand Kumarum, chief executive of the National eGovernance Division (NeGD), said.
Bluestone sees 64% revenue growth in FY24
Jewellery retailer Bluestone has recorded a 64% increase in operating revenue for the year ended March 2024, according to data sourced from Tofler. Its losses for the full year narrowed by about 15% to Rs 142.2 crore.
Funding Deals
SPRY Therapeutics, a SaaS platform for physical therapy professionals, has secured $15 million in funding spearheaded by Flourish Ventures, Together Fund, and Fidelity’s Eight Roads and F-prime Capital.
Tech-enabled non-banking financial company (NBFC) Swara Fincare has successfully raised Rs 19.4 crore ($2.3 million) in a Series A funding round led by UC Impower, with participation from Serica Angel Fund.
ZenStatement, an AI-powered finance automation and cashflow management platform, has raised $1.62 million in its seed round led by 3One4 Capital and Boldcap VC, with participation from Dynamis Ventures and Atrium Angels.
Pharmaceutical packaging startup Sorich has raised $1 million in the pre-IPO funding round led by BizDateUp.
Energy analytics company iRasus Technologies has raised Rs 4 crore in a seed round co-led by Rohit Rajput and Srikar Reddy of IAN Angel, with participation from DFAN and other angel investors.
💡 Short Story: The Inventor’s Perseverance
Lily, a young inventor, was on the brink of giving up after multiple prototypes of her sustainable energy device failed. Every setback felt like a confirmation that her idea was impossible.
But then she remembered Edison’s words and decided to give it just one more try. With renewed focus and slight adjustments, her next prototype worked flawlessly.
Lily’s perseverance led to a breakthrough that wouldn’t have been possible had she stopped one attempt earlier. Her invention went on to make a significant impact in sustainable energy, all because she tried one more time.
Tweet of the day🐥
As you approach today’s challenges, remember that success might be just one more attempt away. Keep pushing forward, even when progress seems slow.
Rise & Shine is here to remind you that persistence is the bridge between effort and achievement.
Have a resilient and determined Thursday!
Thanks for reading till the end!