Ola to join q-comm party🎉
Saudi Aramco announces $31.1 bn dividend, FirstCry IPO subscribed 30%, Human content will remain king: YT CEO, Funding Deals and more.
Good morning and welcome to Thursday’s edition of Rise & Shine!
"Give them quality. That's the best kind of advertising."
- Milton Hersh
Today’s quote reminds us of the enduring value of quality in everything we do, emphasizing that excellence itself can be the most effective form of advertisement.
It's about building trust and credibility, which are crucial for long-term success.
Tech Updates
Saudi Aramco announces $31.1 billion dividend for Q2
Saudi Aramco on Tuesday declared a dividend of $31.1 billion in its second quarter results for calendar year 2024, payable in the third quarter. The sum includes the base dividend of $20.3 billion in Q2 of 2024 and a performance-linked dividend of $10.8 billion, according to the company's investor presentation.
FirstCry IPO subscribed 30% on second day
The retail portion of the initial public offering (IPO) of Brainbees Solutions was fully subscribed at 106% on the second day of the issue. The parent company of FirstCry received over 95.44 lakh consolidated share bids against 90,12,317 shares available for subscription in the category. However, the response to the overall issue remained lackluster at 30%.
Ola drawing up a route map to join quick commerce party
Ola Cabs parent ANI Technologies is planning to set up dark stores amid rising demand for quick deliveries. With Ola Electric preparing to list on the bourses later this week, CEO Bhavish Aggarwal is simultaneously sharpening his focus on his 14-year-old cab-hailing business.
AI age is here, but human content will remain king: YouTube CEO Neal Mohan
Chief executive Neal Mohan said that India is a driving force for the success of YouTube’s multiple products, including its short-form video format. Mohan, 51, born in Lucknow, also spoke about creators in India. “The creator economy on YouTube has generated Rs 16,000 crore of economic activity along with 7,50,000 jobs,” he said.
Funding Deals
Blitzscale Technology, the parent of company WMall and ShopDeck, has raised Rs 65.2 crore (approximately $7.85 million) in a new round. Bessemer Venture has led the round with Rs 35.24 crore while Chiratae Ventures and Elevation Capital pumped in Rs 9 crore and Rs 11 crore, respectively. VH Capital and Reed India cumulatively participated with Rs 9.85 crore in the extended Series B round (B1).
Engineering and technology services company BlueBinaries has raised Rs 60 crore ($7.2 million) in a mix of debt and equity round led by Anicut Capital.
Extended reality (XR) startup Metadome.ai (formerly Adloid) has raised $6.5 million in Series A funding in an equity and debt round led by Siana Capita and existing investor Chiratae Ventures. New investors Alteria Capital, 3to-1 Capital, and Manish Choksi’s family office also joined the new round.
Healthcare firm GenWorks has raised Rs 41 crore (around $5 million) in a funding round led by Evolvence Fund. Somerset Indus Healthcare Fund and key individuals from the Zawawi Group also joined the round.
Lab-grown jewellery brand Aukera has raised Rs 26.7 crore (approximately $3.2 million) in its Series A round led by Fireside Ventures.
Fintech startup FINQY has raised $2 million in a new round from Angel Bay India Accelerator, Family Offices and private investors.
Digital healthcare startup Karma Primary Healthcare has secured Rs 11 crore (nearly $1.3 million) in Series A funding round led by UBS Optimus Foundation along with participation from 1Crowd and other investors.
🧑🏻🎨 Short Story: The Artisan's Commitment
Elena, a skilled potter, ran a small workshop where she crafted handmade ceramics. Though her business was modest, she insisted on using the finest materials and paid meticulous attention to every detail of her craft.
Despite the higher costs and additional labor, Elena never compromised on quality.
Her commitment paid off when a local café ordered a custom set of ceramics for their opening. The beauty and durability of her work impressed not only the café owner but also the patrons.
Soon, orders began flowing as more businesses and individuals sought her high-quality products. Word of her craftsmanship spread, significantly boosting her reputation and sales without traditional advertising.
Tweet of the day🐥
As you tackle today’s challenges, think about how you can elevate the quality of your work.
Whether it’s a project, service, or product, remember that your commitment to quality can set you apart and speak volumes about your values.
Rise & Shine encourages you to let excellence be your signature and your advertisement.
Have a productive and quality-driven Thursday!
Thanks for reading till the end!