Purplle raises Rs 1000 Cr💄
Purplle raises Rs 1000 Cr💄
Sebi clears FirstCry and Unicommerce IPO, Allied Blenders and Distillers opens with 14% premium, Patanjali acquisitions, Funding Deals and more.
Welcome to Tuesday’s edition of Rise & Shine!
“Failure is simply the opportunity to begin again, this time more intelligently.”
- Henry Ford
Today, Henry Ford’s quote reminds us that failure is not the end but rather a stepping stone to success.
Let’s delve into how embracing failure can lead to smarter and more informed new beginnings.
Tech Updates
Purplle raises Rs 1,000 crore from Abu Dhabi Investment Authority, others
Omnichannel beauty retailer Purplle said on Monday it had raised Rs 1,000 crore in a funding round led by a sovereign fund, the Abu Dhabi Investment Authority (ADIA). The funding is a mix of primary and secondary capital. Post the fundraising, Purplle is valued at $1.3 billion.
Sebi clears FirstCry and Unicommerce IPO
The Securities and Exchange Board of India (Sebi) has cleared IPO proposals of two portfolio firms of SoftBank--omnichannel baby products retailer FirstCry and e-commerce enterprise software developer Unicommerce.
Allied Blenders and Distillers stock opens with 14% premium at ₹320 apiece on NSE
Allied Blenders and Distillers share price made a positive debut on the bourses today. On NSE, Allied Blenders and Distillers share price opened at ₹320 per share, 13.88% higher than the issue price of ₹281. On BSE, Allied Blenders and Distillers share price today opened at ₹318.10 apiece, up 13.20% from the issue price. On Thursday, the last day of bidding, Allied Blenders, and Distillers IPO subscription status was 23.49 times.
Patanjali Foods eyes pole position in FMCG space, to acquire Patanjali Ayurved’s home-personal care biz for ₹1,100 cr
Patanjali Foods Ltd on Monday said it would acquire the home and personal care business of its group company, Patanjali Ayurved, for ₹1,100 crore. The acquisition will help Patanjali Foods to become an FMCG company. Patanjali Ayurved’s home and personal care business currently has strong brand equity in India’s FMCG space and enjoys a loyal consumer base across the country.
Funding Deals
D2C sneaker brand Comet has raised Rs 42.3 crore (approximately $5 million) in its Series A round led by Elevation Capital.
Home furnishing installation startup Wify has picked up Rs 25 crore ($3 million) in pre-Series A round co-led by Mount Judi Ventures and existing investor Capria Ventures. The round also witnessed participation from Blume Founders Fund and other investors.
Video telematics startup Cautio has raised Rs 6.5 crore ($780k) in its pre-seed round led by Antler, 8i, and AU Bank. The funding, a mix of equity and debt, was led by Antler, 8i Ventures, and AU Small Finance Bank with additional participation from Cautio’s early customers and angel investors.
AI startup Pivot Robots has raised funds from early-stage investor NuVentures for an undisclosed amount.
🏎️ Short Story: The Inventor's Resilience
In the bustling city of Detroit, a young inventor named Jack dreamed of revolutionizing the automotive industry. He poured his heart and soul into creating a new type of engine, convinced it would change the world. However, his prototype failed miserably, leaving him devastated.
Feeling disheartened, Jack contemplated giving up. But then he stumbled upon Henry Ford’s words: “Failure is simply the opportunity to begin again, this time more intelligently.” These words resonated deeply with him. He realized his failure was not a sign to quit but a lesson to learn from.
Jack analyzed what went wrong with his initial design, seeking advice from more experienced engineers and studying successful engines.
Armed with newfound knowledge and determination, he began again with a more refined and innovative approach.
His perseverance paid off. Jack’s new engine prototype was a success, catching the attention of major automotive companies. His invention went on to become a cornerstone of modern vehicles, proving that failure, when embraced as a learning opportunity, can lead to greater achievements.
Tweet of the day🐥
Jack’s story illustrates that failure is not a dead end but a chance to start over with more insight and experience.
By learning from our mistakes and approaching challenges with a smarter strategy, we can turn setbacks into stepping stones toward success.
Reading Rise & Shine daily will help you start each day on a positive note, encouraging you to embrace failures as opportunities to learn and grow.
Have a resilient Tuesday, and remember, every failure brings with it the seed of a new beginning.
Feel free to share it with someone who could use a little inspiration. Let's pass on the good vibes and make someone's day!
Thanks for reading till the end!