PhysicsWallah's ₹250 Cr Scholarship🎓
FirstCry files RHP, Byju’s, BCCI settle payment dispute, Freshworks reports 20% revenue growth, Funding Deals and more.
Good morning and welcome to Thursday’s edition of Rise & Shine!
"Positive thinking will let you do everything better than negative thinking will."
— Zig Ziglar
Today, we revisit a powerful quote from Zig Ziglar that emphasizes the significance of maintaining a positive outlook.
Positive thinking is not just a feel-good philosophy; it’s a practical strategy that enhances performance and improves outcomes in nearly every aspect of life.
Tech Updates
FirstCry files RHP; logs 15% jump in revenue, losses down by 34%
The initial public offering (IPO) of Brainbees Solutions, which operates baby and mother care products retailer FirstCry, is scheduled to open on August 6, while bidding for the anchor portion will open for a day on August 5, as per its red herring prospectus (RHP). The price band will be announced on Thursday.
Byju’s, BCCI settle payment dispute
Embattled Byju’s has reached an agreement with the Indian cricket board BCCI to settle their dispute over the payment of Rs 158 crore. The edtech company has already paid Rs 50 crore to the BCCI while the rest of the money will be released in two tranches by August 9.
PhysicsWallah launches Rs 250 Cr Scholarship Fund for JEE/NEET aspirants
Edtech firm PhysicsWallah (PW) has announced a scholarship fund of Rs 250 crore through its third edition of the NSAT (National Scholarship Common Admission Test) 2024. This initiative aims to help students aspiring to excel in NEET-UG and IIT-JEE exams by providing top-quality education and expert guidance, regardless of their financial situation.
Freshworks reports 20% revenue growth in Q2 at $174 million
Nasdaq-listed software-as-a-service (SaaS) firm Freshworks on Wednesday said it had pared losses in the second quarter to $20.1 million as opposed to $35.6 million during the same period a year ago.
Funding Deals
Trade financing startup Vayana Network has raised Rs 170.8 crore (approximately $20.5 million) in its Series D round. SMBC Asia Rising Fund led the round with Rs 62.6 crore while Chiratae and IFC (International Finance Corporation) pumped in Rs 41.74 crore and Rs 24 crore, respectively. Jungle Leaders, Quantum-state investment fund, and Emerald cumulatively participated with Rs 42.4 crore.
Space technology startup GalaxEye has announced the first close of its fundraising round, raising $6.5 million led by Mela Ventures and Speciale Invest. The round also saw participation from ideaForge, with additional investments from Rainmatter, Navam Capital, Faad Capital, and Anicut Capital.
Nected, a next-generation low-code platform, has raised $1.5 million in its seed round led by Binny Bansal’s Three State Ventures. The round saw participation from Endurance Capital, Relentless VC, Climber Capital, Lykke Capital, and Forward Slash Capital.
💡 Short Story: The Entrepreneur’s Shift
Tom, a startup founder, initially struggled with doubts and fears about his new business venture. He constantly worried about failure and its consequences, which clouded his decision-making and sapped his energy.
After reading Zig Ziglar’s words, Tom realized he needed a shift in mindset. He started to practice positive thinking by visualizing the success of his business and affirming his abilities and efforts.
This shift did not just improve his mood—it transformed his approach to work. Meetings that were once tense and fraught with worry became opportunities to forge productive partnerships.
Challenges became chances to innovate. Tom’s business began to thrive, reflecting his new optimistic outlook.
Tweet of the day🐥
Let Tom’s story inspire you to harness the power of positive thinking in your own life.
Whether facing daily tasks or long-term goals, remember that a positive mindset can be your greatest ally in achieving success and happiness.
Rise & Shine encourages you to approach each day with optimism and see the difference it makes.
Have a thriving and positive Thursday!
Thanks for reading till the end!