Moneyview becomes unicorn🦄
Moneyview becomes unicorn🦄
Nazara acquires stake in PokerBaazi, NPCI posts 37% jump in profit, Mamaearth shares tumble 5%, Funding Deals and more.
Good morning and welcome to Friday’s edition of Rise & Shine!
"Every master was once a disaster."
— David T.S. Wood
Today, Wood reminds us that every expert starts as a beginner. Embracing our initial struggles is a crucial step on the path to mastery.
The journey to excellence is often paved with mistakes and challenges. Acknowledging that everyone starts somewhere can motivate us to persevere through difficulties.
Tech Updates
Moneyview becomes unicorn with new funding
Consumer lending platform Moneyview has turned unicorn in a new funding round from the existing investors Accel India and Nexus Ventures. Accel India has invested Rs 29 crore, while Nexus Ventures pumped in Rs 19 crore. The round appears to be ongoing, with the company likely to raise additional capital in the coming months.
Nazara acquires 47.7% stake in PokerBaazi’s parent for $100 Mn
Gaming firm Nazara has announced an investment of Rs 982 crore in PokerBaazi’s parent company, Moonshine Technology, to acquire a significant stake through a mix of secondary and primary share purchases. The Mumbai-based company will acquire a 47.7% stake for a total consideration of Rs 832 crore ($100 million), which includes a secondary purchase of Rs 592 crore and a share swap valued at Rs 239 crore.
NPCI posts 37% jump in FY24 net profit to Rs 1,134 crore, revenue up 42%
The National Payments Corporation of India (NPCI), which operates India’s homegrown Unified Payments Interface (UPI), has reported a 37% rise in net profit at Rs 1,134 crore for the fiscal year 2024. The Mumbai-based retail payments network generates revenue primarily by operating services such as UPI, IMPS (Immediate Payment Service), AePS (Aadhaar Enabled Payment System), BBPS (Bharat Bill Payment System), and NCMC (National Common Mobility Card).
Mamaearth shares tumble 5% after Rs 1,763 crore stake sale via block deal
Shares of Honasa Consumer, the parent company of Mamaearth, fell 5% to the day’s low of Rs 495 on the NSE following the sale of a 10.9% equity stake worth Rs 1,763 crore through a block deal on Thursday. The transaction reportedly involved sellers such as Peak XV Partners, Redwood Trust, Sequoia Capital, Fireside Ventures, Stellaris Venture Partners India, and Sofina Ventures SA.
Funding Deals
Biotech-driven R&D start-up Dharaksha Ecosolutions has raised Rs 24.8 crore (about $2.95 million) in a Seed funding round led by Avaana Capital.
Game development studio GameEon has secured $1 million in its latest funding round co-led by SucSEED Indovation Fund, ICE VC, IAN, CD EQUIFINANCE, Nexus Global Opportunities Fund, Vivek Goel, Patni Family, and Tal64.
Wundrsight, a digital therapeutics startup, has raised $400K in its seed round led by Inflection Point Ventures. Social Alpha has also joined the round along with other angel investors.
Vermeil jewelry brand Trisu has secured an undisclosed amount of investment in a pre-seed funding round co- led by All In Capital. JK Tyres, and Amaanta Group and angel investors like Himanshu Aggarwal and Sumer Sethi also participated in the round.
🎨 Short Story: The Novice Painter
Emma always admired artists and decided to take up painting. Her first attempts were far from what she envisioned—colors clashed, and proportions were off.
Frustrated but determined, she remembered that every master was once a beginner. She continued to practice, learning from each mistake.
Over time, her skills improved, and her paintings began to reflect the beauty she aimed for. Emma's journey showed her that persistence turns disasters into masterpieces.
Tweet of the day🐥
As you wrap up the week, remember that early struggles are a natural part of any learning process. Don't be discouraged by initial failures; they are stepping stones to success.
By reading Rise & Shine daily, you're choosing to start your day on a positive note, fueling your journey toward personal growth and mastery.
Have a resilient and inspiring Friday!
Thanks for reading till the end!