Myntra launches 30-min delivery👚
Bluestone’s board clears IPO proposal, 30 startups form a Startup Policy Forum, MobiKwik sets IPO price band, Funding Deals and more.
Good morning and welcome to Friday’s edition of Rise & Shine!
"Opportunity is missed by most people because it is dressed in overalls and looks like work."
— Thomas Jefferson
Today, Thomas Jefferson’s insightful words remind us that opportunities often come disguised as hard work, and only those willing to put in the effort can seize them.
Opportunities may seem daunting because of the effort they demand, but those who recognize and embrace the work involved often find success where others see obstacles.
Tech Updates
Myntra brings quick delivery to fashion, launches 30-minute service
Myntra has launched a 30-minute delivery service, offering a range of fashion products under the quick-commerce model which is expanding from supplying groceries and daily essentials to now electronics, lifestyle brands, and more. Myntra’s new service, M-Now, is currently live in some pockets of Bengaluru and the company plans to take it to cities like Mumbai, New Delhi, and Pune in the coming months.
Jewellery retailer Bluestone’s board clears IPO proposal
Accel-backed jewellery retailer Bluestone is set to file the draft papers for its IPO in about a week, having received the green signal from its board of directors. The Bengaluru-based company is looking to raise Rs 1,000 crore in fresh capital and plans to divest a 15% stake through the offering.
Razorpay, CRED, Swiggy are among 30 startups in Startup Policy Forum
India’s startup ecosystem has gained a unified platform with the launch of the Startup Policy Forum (SPF), an industry alliance designed to promote collaboration between policymakers and leading ventures.
SPF brings together 30 of India’s leading startups across varied sectors, including Razorpay, CRED, Pine Labs, Groww, OYO, Swiggy, Practo, Dream11, MPL, Cars24, CarDekho, Acko, Ixigo, Livspace and Jupiter.
MobiKwik sets IPO price band between Rs 265-279, valuation cut to around $250 million
Gurugram-based fintech MobiKwik has set a price band of Rs 265 to Rs 279 per share for its initial public offering (IPO) that aims to raise as much as Rs 572 crore, the company said. The issue is set to open on December 11 and will close on December 13.
Funding Deals
Orange Health Labs raises $12 million from Amazon Smbhav, others: The round saw participation from existing investors including Accel, General Catalyst, Bertelsmann India Investments and Y Combinator.
Gaming and esports company Nodwin Gaming has received approval of Rs 64 crore in funding from its parent company Nazara Technologies.
Cleantech startup Hygenco has raised Rs 50 crore (approximately $6 million) via non-convertible debentures from Trifecta.
On-demand liquidity platform The Money Club has raised $2.5 million in a Series A funding round led by Prudent Investment Managers. The round also saw participation from HNIs of Singapore and Dubai, 1Crowd AIF, along its existing investors, including Venture Catalysts, LetsVenture, Z21 Ventures, and Supermorepheus.
The Mumbai-based lifestyle activewear brand Terractive has raised Rs 8 crore in a pre-Series A funding round co-led by Fireside Ventures and DeVC (Matrix Partners).
Neuranics, a healthcare diagnostics startup, has raised $700K in its seed round led by Inflection Point Ventures (IPV).
Atmosphere–The Store Makers, a Mumbai-based innovator in retail and workspace fit-outs, has raised Rs 5 crore in a seed round co-led by Artha Venture Fund and PIL Italica Lifestyle Limited.
Professional social media platform Medial has raised $500K in a funding round led by Ortella Global Capital (OG Capital), a fund established by Rajvardhan Mohite and former IFC executive Sayan Ghosh.
Uniphore, an enterprise-class and AI-native company, has acquired two data companies, ActionIQ and Infoworks.
👩🏻💻 Short Story: The Reluctant Innovator
Eli, a tech enthusiast, had a groundbreaking idea for a mobile app but hesitated to act on it because he knew the development process would be time-consuming and challenging.
After hearing Jefferson’s quote, he realized that his reluctance was costing him a valuable opportunity. Eli committed to the hard work, learning to code, gathering a team, and navigating the ups and downs of app development.
Months later, his app became a success, not because the opportunity was easy but because Eli was willing to work hard for it.
Tweet of the day🐥
As you close out your week, reflect on the opportunities that may be hidden behind hard work. Don’t shy away from the effort required—embracing it is what sets achievers apart.
Rise & Shine reminds you that effort is the bridge between opportunity and success.
Have a hardworking and opportunity-filled Friday!
Thanks for reading till the end!