Musk’s $97.4 Bn offer for OpenAI👽
Swiggy, Zomato shares extend fall, Rapido's first ESOP liquidity program, RBI to ease unsecured loan rules, Funding Deals and more.
Good morning and welcome to Wednesday’s edition of Rise & Shine!
"None of us really changes over time. We only become more fully what we are."
— Anne Rice
Today, Anne Rice’s thought-provoking words remind us that growth isn’t about becoming someone new—it’s about uncovering and embracing who we truly are.
Growth is not about changing who we are but about peeling back the layers to become a fuller, truer version of ourselves.
Tech Updates
Elon Musk-led group offers $97.4 billion to buy Open AI
An Elon Musk-led consortium is offering approximately $97.4 billion to acquire OpenAI, escalating an ongoing legal conflict with the AI company Musk once helped establish. In response, OpenAI CEO Sam Altman took to X and jokingly said, "No thank you, but we will buy Twitter for $9.74 billion if you want."
Swiggy, Zomato shares extend fall as quick commerce burn weighs
Shares of major food and grocery delivery companies Swiggy and Zomato slumped further on Tuesday owing to an increasing burn in quick commerce. Swiggy’s market capitalisation has dropped below $10 billion, while Zomato’s valuation has fallen under $23 billion. On the BSE, Zomato’s shares declined 5.24% to close at Rs 215.25, while Swiggy’s shares slipped 7.86% to settle at Rs 333.70.
Stuck digital lenders look to RBI to ease unsecured loan rules
The digital lending industry is looking to dial the Reserve Bank of India (RBI) to reinstate short-term credit products. Two senior executives told that industry representatives have sought a meeting with the RBI after raising the issue with the Union government, banks, and other non-banking finance companies (NBFCs).
Rapido announces first ESOP liquidity program
Ride-hailing firm Rapido has announced its first-ever Employee Stock Ownership Plan (ESOP) liquidation program for its current and former employees. Through this initiative, employees are eligible to sell a portion of their vested ESOP units Immediately.
Funding Deals
B2B manufacturing startup CapGrid Solutions has raised $5 million (around Rs 45 crore) in a funding round led by Anicut Growth Fund. The round also saw participation from existing investors Nexus Venture Partners and Axilor Ventures.
Nivaan Care, a multidisciplinary chronic pain management clinic chain, has secured $4.25 million in its seed round led by Endiya Partners. The round also saw participation from existing investor W Health Ventures.
Mysa, a unified finance and banking platform for mid-size businesses, has raised $2.8 million in a seed round led by Blume Ventures. The round saw participation from Emphasis Ventures (EMVC), Antler, Neon Fund, and CIIIE, along with notable founders as angels, including Sriharsha Majety (Swiggy), Mohit Kumar (Ultrahuman), Naiyaa Saagi (MyGlamm), Nitin Gupta (Uni), and Nishith Rastogi (Locus).
Investment technology firm ArthAlpha has raised over $2 million in a seed funding round led by DSP, with participation from family offices and wealth managers.
Pickleball chain GoRally has raised Rs 6.6 crore ($750,000) in its pre-Seed round led by Sujeet Kumar, with participation from key investors including Mohit Kumar & Vatsal Singhal, Viren Singhvi, Kartik Kapoor, Abhishek Goyal, Deepak Singh, Arjun Vaidya, Bharat Founders Fund, an IITD syndicate, and several US investors amongst others.
StepOut, an Indian sports performance analysis and ecosystem technology startup, has raised $500,000 in its seed round led by Rainmatter, founded by Nithin Kamath, CEO of Zerodha. The round also saw participation from IndigoEdge, Marwah Sports Group and Misfits Capital.
Croft Beverages, a farmer-centric sustainable tea startup, has raised $125K in a pre-seed funding round through a combination of equity and debt. The investment round was led by notable angel investors from the tea, sustainability, IT, and biotech industries.
Quick commerce platform KiranaPro has acquired Joper.app, a hyperlocal grocery delivery service that connects small Kirana stores with customers, for an undisclosed amount.
🎨 Short Story: The Emerging Artist
Since childhood, Nia has loved drawing. However, she set it aside in adulthood, thinking it wasn’t practical. Years later, after feeling unfulfilled in her career, she picked up a paintbrush again.
She realized that art had always been a part of her—it had just been waiting for her to embrace it fully. By returning to her passion, she didn’t change; she became more of who she was meant to be.
Tweet of the day🐥
Today, instead of trying to change yourself, focus on becoming more in tune with who you’ve always been.
Rise & Shine reminds you that self-discovery is a lifelong process of returning to your essence.
Have a reflective and authentic Wednesday!
Thanks for reading till the end!