Ola Electric IPO at lower price📉
Klub to disburse Rs 200 Cr, Paytm gets SEBI warning, Musk claims 'record high' X usage, Funding Deals and more.
Good morning and welcome to Wednesday’s edition of Rise & Shine!
“You’ll never get bored when you try something new. There’s really no limit to what you can do.”
— Dr. Seuss
Today’s quote inspires us to embrace new experiences and challenges, reminding us that the world has limitless possibilities.
By trying new things, we keep boredom at bay and discover our true potential and passions.
Tech Updates
Ola Electric IPO set to ride in at lower price tag
Electric vehicle (EV) firm Ola Electric’s public offering is expected to be priced in the range of $4 billion, a discount of around 25% from its last private funding round. The Bhavish Aggarwal-led EV maker is set to raise Rs 5,500 crore in capital via the IPO.
Klub aims to disburse Rs 200 Cr this festive season
Revenue-based financing platform Klub is set to disburse Rs 200 crore for this year’s festive season. The platform had disbursed Rs 100 crore in the last festive season which aimed to enhance sales on major e-commerce platforms, including Amazon, Flipkart, and Myntra. Klub plans to infuse the funds into D2C brands across more than 45 sectors.
Paytm gets SEBI warning on related party transactions with PPBL
One97 Communications, the parent company of payments aggregator Paytm, has been issued an administrative warning by the market regulator Securities and Exchange Board of India (SEBI) concerning the related party transactions it entered with its subsidiary Paytm Payments Bank for the financial year 2021-2022.
Elon Musk claims 'record high' X usage
Tech billionaire and Tesla CEO Elon Musk has claimed that his platform X, formerly Twitter, reached a 'record high in usage'. Musk said that X experienced a total of "417 billion user-seconds globally" in one day.
Funding Deals
Auxilo Finserve, an education-focused NBFC, has raised $30 million from LeapFrog Investments through its investment vehicle Jade Inclusion Ltd. The firm will be raising Rs 279 crore in its fresh round. This round also saw participation from existing investors Trifecta Leaders Fund-I and Xponentia Opportunities Fund-II.
Moving Tech, the company that operates community-led mobility apps Namma Yatri, Yatri Sathi, Yatri, and Mana Yatri, has raised $11 million (Rs 92 crore approximately) in a pre-Series A funding round from Blume Ventures and Antler, Google and other investors.
Noida-based multi-category biscuit manufacturer Nurture Well confirmed the closure of the private placement round, with India Inflection Opportunity Fund (IIOF) investing Rs 50 crore in the company.
Icanheal, a healthcare financing startup, has raised Rs 15 crore from early-stage venture capital firm IvyCap Ventures.
Fintech startup Multipl has raised $1.5 million in a funding round led by early-stage venture capital firm Blume Ventures and MIXI Global Investments.
Retail tech small format grocery chain Frendy has raised Rs 2 crore or about $239K in a debt round led by UC Inclusive Credit.
🛣️ Short Story: The Unexplored Path
John, a software developer, felt stuck in his routine job. One day, he decided to enroll in a weekend pottery class.
This new hobby rejuvenated his creativity and led him to develop a unique software application for artists.
This unexpected venture opened new professional avenues for John, proving that trying something new can lead to unforeseen opportunities and fulfillment.
Tweet of the day🐥
As you go through your day, consider exploring something new, be it a hobby, a skill, or a different approach to your daily tasks.
Embracing new experiences enriches your life and expands your horizons.
Rise & Shine is here to motivate you to step out of your comfort zone and uncover the endless possibilities that await.
Have an adventurous Wednesday, and let your curiosity lead the way!
Thanks for reading till the end!