Matrix Partners rebrands as Z47🏦
Nodwin acquires German gaming company Freaks 4U, Ola Electric to invest $100 million, Hyderabad esports event, Funding Deals and more.
Welcome to Monday’s edition of Rise & Shine!
“If the highest aim of a captain were to preserve his ship, he would keep it in port forever.”
- Thomas Aquinas
Today's quote emphasizes the importance of taking risks and stepping out of your comfort zone to achieve greatness.
Let's explore how embracing challenges can lead to growth and success.
Tech Updates
Matrix Partners rebrands its Indian arm as Z47
Venture capital firm Matrix Partners India has renamed its Indian arm as Z47 and China’s as MPC. The fund’s operations in the US will continue as Matrix, an early-stage venture capital fund with headquarters in Boston and San Francisco. The VC firm also added that the new name is inspired by India’s journey towards a developed country by 2047.
Nodwin to acquire German gaming company Freaks 4U for Rs 271 Cr
Nazara-backed Nodwin Gaming on Friday announced that its Singapore-based subsidiary has signed definitive agreements to increase its stake in Berlin-based Freaks 4U to 100% in tranches through a share swap deal. Nodwin’s Singapore unit, which currently holds a 13.51% stake in Freaks 4U, will initially increase its existing stake in the latter to 57%, and the remaining 43% will be swapped at a later time, Nazara said in a stock exchange filing. The total deal is valued at Rs 271 crore ($32.6 million).
Ola Electric to invest $100 million in gigafactory
IPO-bound Ola Electric plans to invest $100 million (about Rs 834 crore) in the first phase of building its gigafactory for producing lithium-ion battery cells, founder Bhavish Aggarwal said on Saturday. He added that Ola’s electric scooters will feature locally-produced battery cells as early as next year.
Hyderabad esports event makes itself heard amid World Cup day
At about the time that the country was absorbed by the nail-biting T20 World Cup final on Saturday, a 1,000-strong audience cheered for esports champions at the Battleground Mobile India (BGMI) series event at Hyderabad. This signifies the increasing popularity of such pursuits even in a cricket-crazy nation like India.
Funding Deals
New-age fashion brand Rare Rabbit has raised Rs 150 crore (approximately $18 million) in primary capital led by A91 Partners. A91 Partners led the round with Rs 102 crore while Zerodha’s founders NKSquared injected Rs 29 crore. Gruhas Proptech, Ravi Modi Family Trust, and Vendant Modi cumulatively participated with Rs 18.92 crore during the investment.
Social media startup Pepul Tech Pvt Ltd has secured a funding of $4 million in its pre-series A round. The investment was led by a “notable” family office in Tamil Nadu, along with existing investors.
⛵ Short Story: The Adventurous Captain
In a small coastal village, Captain Eleanor was known for her beautiful ship, The Seafarer. It was her pride and joy, meticulously maintained and admired by all. Many captains praised her for keeping the ship in perfect condition, safely anchored at the harbor.
Despite the admiration, Eleanor felt a nagging sense of unfulfilled potential. The Seafarer was built for grand adventures, not just to sit idle in port. One day, inspired by Thomas Aquinas's wisdom, Eleanor decided it was time to sail into the unknown.
The journey was not without challenges—raging storms, treacherous waters, and unforeseen obstacles tested her resolve. However, with each difficulty, Eleanor and her crew grew stronger and more skilled. They discovered new lands, forged alliances, and brought back tales of incredible adventures.
Eleanor's bold decision to sail beyond the safety of the harbor not only fulfilled her sense of purpose but also inspired her entire village. They learned that ships, much like people, are meant to explore, take risks, and seek new horizons.
Tweet of the day🐥
Captain Eleanor’s story reminds us that avoiding risks may keep us safe, but it also limits our potential.
By stepping out of our comfort zones and facing challenges head-on, we can achieve greater things and enrich our lives.
Reading Rise & Shine daily will help you start each day on a positive note, encouraging you to embrace challenges and pursue your goals with renewed vigor.
Have an adventurous Monday, and remember, great achievements come from daring to set sail.
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!