PhonePe hits 8 Bn transactions🤳🏻
Yatra profit spikes 10X, Nykaa’s Q3 profit jumps 52%, Zetwerk readies papers for $400-500 mn IPO, Funding Deals and more.
Good morning and welcome to Tuesday’s edition of Rise & Shine!
"The most common way people give up their power is by thinking they don't have any."
— Alice Walker
Today, Walker’s powerful words remind us that we often surrender our strength not because we lack it, but because we fail to recognize it.
Let’s explore how reclaiming our power can change everything.
Tech Updates
PhonePe hits 8 Bn UPI transactions in Jan; WhatsApp back in top 10
The Unified Payments Interface (UPI) achieved a significant milestone in January, processing nearly 17 billion transactions valued at Rs 23.48 lakh crore. This marks a 39% year-on-year increase in transaction volume and a 28% rise in transaction value. As anticipated, this growth was driven by the three leading apps—PhonePe, Google Pay, and Paytm—while several newly launched apps also made notable contributions.
Yatra profit spikes 10X in Q3 FY25; revenue doubles
Online travel aggregator Yatra has shown impressive growth in scale as well as profits year-on-year. The Gurugram-based firm managed to double its year-on-year revenue during the third quarter of FY25, compared to the same quarter of the previous fiscal (Q3 FY24). Yatra’s revenue from operations increased to Rs 235 crore in Q3 FY25 from Rs 110 crore in Q3 FY24.
Nykaa’s Q3 net profit jumps 52% on festive sales boost
FSN Ecommerce, the parent company of the fashion and beauty retailer Nykaa, reported a 51.7% year-on-year increase in net profit, totalling Rs 26.4 crore, for the third fiscal quarter, driven by strong festive season sales.
Manufacturing firm Zetwerk readies papers for $400-500 million IPO in six months
Manufacturing startup Zetwerk will file its papers for an initial public offering (IPO) within the next six months. According to sources familiar with the matter, it aims to raise $400-500 million in the IPO. Zetwerk is backed by Peak XV Partners and Accel, among others.
Funding Deals
Bengaluru-based digital payments company ToneTag has secured $78 million in a fresh funding round from private equity fund ValueQuest Scale Fund and venture fund Iron Pillar.
Modern banking tech company Zeta announced it has secured a $50 million investment from a strategic investor valuing it at $2 billion.
Venture Capital firm Venturi Partners has invested $25 million in JQR (Just Quick Run), a brand in the affordable footwear segment. This marks JQR's first venture capital funding, with Venturi acquiring an undisclosed minority stake.
SaaS firm Nirmata raises $9.6 million from Peak XV’s Surge. The round also saw participation from Dallas Venture Capital, Dreamit, Z5 Capital and Uncorrelated Ventures.
Global workforce mobility platform BorderPlus has raised $7 million in funding, marking its first institutional investment round, led by Owl Ventures.
D2C sexual wellness startup Bold Care has raised $5 Mn (around INR 43 Cr) in its Series A funding round led by Zerodha's Rainmatter. The round also saw participation from CaratlLane founder Mithun Sacheti, Jaipur Diamond's Siddhartha Sacheti, Gruhas Collective Consumer Fund, Claris Capital, among others.
Full-stack EV battery provider The Energy Company (TEC) has raised $2 million in a pre-Series A funding round. The round saw participation from Siana Capital, Callapina Capital, Z21 Ventures, 1Crowd, LetsVenture, and other investors.
Cogniquest, a player in the intelligent document processing space, raised $1.2 million in its seed funding round led by Cedar IBSI Capital. The round also saw participation from Dexter Venture and more than 30 angel investors through AngelList and Congniphy US, the company said in a statement.
💪🏻 Short Story: The Unseen Leader
Ayaan, a junior employee, always assumed his opinions weren’t important in meetings. One day, he gathered the courage to speak up about an idea.
To his surprise, his colleagues found it valuable, and it led to a major improvement in workflow. That moment made him realize he had power all along—he just had to use it.
Tweet of the day🐥
Today, recognize that you have more power than you think. Your actions and voice can create change, no matter where you are.
Rise & Shine is here to remind you that reclaiming your power starts with believing in it.
Have a confident and empowered Tuesday!
Thanks for reading till the end!