Ola Electric IPO 4X subscribed📊
Unicommerce IPO sees 5.6X, PhonePe eyes South East Asia, Middle East, Vama joins ONDC, Funding Deals and more.
Good morning and welcome to Wednesday’s edition of Rise & Shine!
"Don't be afraid to give up the good to go for the great."
— John D. Rockefeller
Today’s quote encourages us to break complacency and strive for exceptional achievements.
It’s about the courage to leave behind what feels secure in search of what could be extraordinary.
Tech Updates
Ola Electric IPO subscribed over four times on the third day
Ola Electric’s initial public offering (IPO) has been subscribed 4.26 times on the last day of the bidding process. The IPO includes a fresh issue of Rs 5,500 crore and an offer for sale (OFS) of 8.4 crore shares. As part of the OFS, founder Bhavish Aggarwal will sell 37.9 million shares. Additionally, investors such as Alpha Wave, Alpine, DIG Investment, Matrix and others will be selling 47.89 million shares.
Unicommerce IPO sees 5.6X oversubscription from retail buyers
The initial public offering of e-commerce SaaS platform Unicommerce was fully subscribed by retail investors within the first three hours of its opening. The Unicommerce IPO is scheduled from August 6 to 8, with a price band set at Rs 102-108 per share and a minimum lot size of 138 shares. To participate, investors must make a minimum investment of Rs 14,076.
PhonePe eyes South East Asia, Middle East for its global foray
Walmart-backed payments major PhonePe is eyeing the domestic payments market in West Asia and South-East Asia. Some countries in Europe are also on its radar.
Spiritual services provider Vama joins ONDC
The government-backed ecommerce platform Open Network for Digital Commerce (ONDC) is expanding spiritual services on its network with Vama.app that will offer services such as virtual pujas, temple darshans and rituals, and astrology services. Spiritual services providers Iskcon and Hari Bol are already available on ONDC.
Funding Deals
Healthtech platform Visit Health has closed a fundraise of approximately Rs 250 crore that includes a combination of primary capital infusion and the secondary purchase of shares from Docprime Technologies, a wholly owned subsidiary of PB Fintech.
Kindlife.in, a platform for beauty, wellness, and health, has raised $8 million in its Series A round led by JB-Dooeun TK Fund and MIXI Global Investments, with participation from Kalaari Capital and some angel investors.
Spacetech startup EtherealX has raised $5 million in its seed round led by YourNest and saw participation from BIG Global Investments JSC, BlueHill Capital, Campus Fund, Golden Sparrow Ventures, Karan Bhagat & Yatin Shah from IIFL Wealth, Kiran Shetty, and Akhilesh Agarwal.
SigTuple, a medtech startup specialising in digital microscopy solutions powered by AI, has raised Rs 33 crore ($4 million) in an extended series C funding round led by Sidbi Venture Capital.
Electric vehicle batteries manufacturer Neuron Energy has secured Rs 20 crore ($2.4 million) in Series A funding round co-led by Chona Family and Capri Global Family Office.
Hyperbots, an AI startup for finance and accounting, has raised $2 million in its seed round led by Kalaari Capital with participation from Sunicon Ventures, and Athera Venture Partners.
Burmese vegan restaurant chain Burma Burma has raised another round of $2 million in equity investment from several family offices including Negen Capital.
Bio-tech startup Cellivate Technologies has raised $1 million in a seed round led by Antler along with participation from Venture Catalysts, Hatcher+, and We Founder Circle.
Fintech startup IppoPay has raised an undisclosed amount from Mithun Sacheti, the Founder of CaratLane and Siddhartha Sacheti, CEO of Jaipur Gems.
Absolute Sports, a Nazara Technologies subsidiary and the parent company of Sportskeeda.com, has signed an asset purchase agreement to acquire all the assets of DeltiasGaming.com, a premier source of gaming and e-sports content in the US.
👩🏻🍳 Short Story: The Chef’s Bold Move
Mia was a chef at a popular local restaurant, known for her good culinary skills and loved by regular customers. However, she dreamed of more — creating a unique dining experience that blended different cultural cuisines.
Despite the risk of leaving a stable job, Mia was inspired by Rockefeller’s words. She decided to quit and start her restaurant.
The beginning was challenging, and there were times Mia doubted her decision. But she kept refining her menu, experimenting with flavors, and marketing her unique concept. Her dedication paid off when a renowned food critic visited and gave her restaurant a rave review.
Word spread quickly, transforming her eatery into a culinary destination. Mia's decision to pursue greatness led her to achieve far more than she had initially thought possible.
Tweet of the day🐥
As you go through your day, consider areas in your life where you may be settling for the good because you’re afraid to reach for the great.
Remember, true growth often requires taking risks.
Rise & Shine inspires you to make bold moves that propel you toward exceptional success.
Have a daring and successful Wednesday!
Thanks for reading till the end!