PhonePe, G-Pay lead UPI in Nov💸
Lenskart signs MoU to set up new plant in Telangana, Satellite imagery help banks, DPIIT partners with Flipkart, Funding Deals and more.
Good morning and welcome to Tuesday’s edition of Rise & Shine!
“We must all either wear out or rust out, every one of us. My choice is to wear out.”
— Theodore Roosevelt
Today, Roosevelt’s energizing words remind us that life is meant to be lived with purpose and effort, not wasted in idleness. Let’s dive into why “wearing out” is a badge of honor.
It’s better to exhaust yourself striving for goals than to stagnate in complacency.
Tech Updates
PhonePe, G-Pay lead UPI in Nov; Flipkart's super.money overtakes Amazon Pay
Unified Payments Interface (UPI) recorded a 6.6% decline in transaction count (15.48 billion) and an 8.3% decrease in transaction value (Rs 21.55 lakh crore) in November compared to October. The top UPI apps also saw a slight decline in their volume and value, while a few new players have improved their positions in the competitive landscape.
Lenskart signs MoU to set up new manufacturing plant in Telangana; will invest Rs 1,500 crore
Lenskart plans to set up its largest eyewear manufacturing facility in Telangana with an investment of about Rs 1,500 crore. The Gurugram-based eyewear company has signed a memorandum of understanding with the Telangana government to establish the facility at Fab City.
Satellite imagery help banks assess farmers' income, repayment capacity
Banks are leveraging satellite data to streamline agri-loans by accurately assessing farmers' income and repayment capacity, offering timely and efficient credit solutions. Under Uttar Pradesh's AgriStack initiative, APIs integrating state land records with satellite insights are helping financial institutions evaluate farm risks. Bengaluru-based SatSure uses AI-powered satellite imagery to provide risk scores and ratings at farm and village levels, helping banks reduce loan processing times.
DPIIT partners with Flipkart to invest $100 mn in Indian startups
The Department for Promotion of Industry and Internal Trade (DPIIT) has partnered with Flipkart, signing a memorandum of understanding (MoU) aimed at supporting and nurturing Indian startups. This collaboration will utilise Flipkart’s $100 million venture fund under its Leap and Ventures initiatives, aimed at boosting tech-driven startups with high growth potential. As of now, Flipkart has invested in 20 startups and continues to identify and mentor promising ventures.
Funding Deals
Spacetech startup Pixxel announced the closing of $24 million in additional funding as part of its Series B round from new investors M&G Catalyst and Glade Brook Capital Partners, who join existing backers, including Google, Radical Ventures, Lightspeed, and others.
Non-Banking Finance Company (NBFC) Varthana has secured $15 million (about Rs 120 crore) in funding from BlueOrchard Microfinance Fund, managed by BlueOrchard.
DCDC Health Services Private Limited (DCDC), operating dialysis centers under its brand DCDC Kidney Care, has secured a strategic investment of Rs 82 crore (nearly $10 million) from British International Investment (BII), the UK’s development finance institution and impact investor.
Edtech platform Kreedo Early Childhood Solutions has secured Rs 10 crore in debt funding from Recur Club, a prominent debt marketplace for startups and SMEs.
Credit card and loyalty management platform SaveSage Club has raised Rs 2.5 crore in an angel funding round co-led by iSEED, Alluvium Fund, and LetsVenture Fund, along with participation from angel investors including Bhavesh Gupta, Shriram Nene, Ritesh Malik, Ramneek Sehgal, Mayank Gupta, Rahul Mathur, Piyush Nangru, Utkarsh Kumar, Amit Goel, and others.
🤵🏻♀️ Short Story: The Tireless Volunteer
Claire, a retired teacher, could have spent her days relaxing, but she chose a different path. She began volunteering at local shelters and teaching underprivileged children.
Though her schedule was packed and her energy stretched, Claire found immense joy and purpose in her work. She often said, “I’d rather wear out making a difference than rust out doing nothing.” Her legacy of service inspired countless others in her community.
Tweet of the day🐥
Today, ask yourself how you want to spend your energy. Choose to “wear out” chasing dreams, helping others, and living fully.
Rise & Shine reminds you that a life of effort and purpose leads to the most meaningful rewards.
Have a purposeful and dynamic Tuesday!
Thanks for reading till the end!