Radio Mirchi parent acquired Gaana🌶️
Zepto to raise another $310 mn, Unicommerce IPO interest paves way for other startups, Garuda to expand in Sri Lanka, Funding Deals and more.
Good morning and welcome to Monday’s edition of Rise & Shine!
"The value of an idea lies in the using of it."
— Thomas Edison
Today’s quote highlights the practical application of ideas, reminding us that the true worth of an idea is realized only through its implementation.
Ideas, no matter how innovative or groundbreaking, remain intangible until put into action. It’s the execution that transforms ideas from imagination into reality, creating value and impact.
Tech Updates
Gaana was acquired by Radio Mirchi’s parent for Rs 25 lakh
After a potential merger and acquisition talks with Airtel Wynk fell through, Times Internet and Tencent-backed Gaana consolidated with Times Group’s listed subsidiary Entertainment Network India Limited (ENIL) in December 2023. However, the deal somehow managed to bypass major media attention as of now. Significantly, Gaana was acquired for Rs 25 lakh, as per ENIL’s filings with the National Stock Exchange (NSE).
Unicommerce IPO interest paves way for small, profitable startups to go public
After the success of Nykaa, Zomato, Mamaearth, Ixigo, TBO Tek, and others, one thing is clear: solid numbers and strong fundamentals are key to making a significant impact in the public market. The Delhi-based Unicommerce has been oversubscribed by 168 times, indicating a very high possibility of a lucrative pop-on listing.
Garuda Aerospace set to spread wings in Sri Lanka
Drone startup Garuda Aerospace has expanded its operations in Sri Lanka, the first as part of its Global Garuda initiative that aims to expand operations in 50 countries, the company's CEO Agnishwar Jayaprakash said.
Zepto set to raise another $310 million; Mars Growth to join funding round
A little over a month after Zepto raised $665 million, the three-year-old firm is set to raise another $310 million at a post-money valuation of $5 billion. That’s around 40% higher valuation than in June for Zepto. Mars Growth Capital—co-run by Mitsubishi UFJ Financial Group Inc and Israel’s Liquidity Group–is set to participate in the round, joining US-based General Catalyst and other existing investors in the Mumbai-based firm.
Funding Deals
Hospitality major Oyo has raised Rs 1,457 crore (nearly $175 million) in a Series G round from a group of investors including InCred Wealth, Patient Capital, J&A Partners, the family office of Mankind Pharma promoters and ASK Financial Holdings.
Infinyte.Club, a wealth creation and management platform for tech and startup employees, has raised $3.6 million in a funding round led by Elevation Capital. The round also saw participation from angel investors such as Cred founder Kunal Shah, Meesho cofounder Vidit Aatrey, Unacademy cofounder Gaurav Munjal, Razorpay cofounder Harshil Mathur, and others.
Truva, a real estate technology platform, has raised $3 million in a funding round led by early-stage venture capital firm Stellaris Venture Partners. The round also saw participation from angel investors such as Myntra founder Mukesh Bansal, Curefoods founder Ankit Nagori and Groww founder Lalit Keshre, among others.
E-commerce marketing and analytics company NuvoRetail has raised $350k in a new funding round.
⚒️ Short Story: The Entrepreneur’s Workshop
Julia, an engineer, had dozens of sketches and plans for potential products. She often shared these ideas with friends and colleagues, receiving praise for her creativity and vision.
However, it wasn’t until she decided to build a prototype of a water purification device that her ideas began to take meaningful shape.
The process was fraught with challenges, requiring Julia to adapt and refine her initial concept. But it was through these practical steps that she discovered the true potential of her idea.
The final product significantly improved water accessibility in remote areas, making a tangible difference in people’s lives.
Julia’s journey from concept to creation exemplified Edison’s principle that the real value of an idea lies in its utilization.
Tweet of the day🐥
As you start your week, think about the ideas you’ve been carrying with you.
Consider which ones are ready to be transformed into action.
Rise & Shine is here to motivate you to move beyond the planning phase and start executing, turning your ideas into valuable contributions.
Have a productive and innovative Monday!
Thanks for reading till the end!