Ratan Tata sells his stake in Upstox📊
UST acquires automation unit of ISG, TDV launches Rs 50 Cr, Groww’s stock broking unit post Rs 2900 Cr, Funding Deals and more.
Good morning and welcome to Friday’s edition of Rise & Shine!
"If you think like an owner, and you act like an owner, it’s only a matter of time until you become an owner."
Today’s quote serves as a reminder that adopting the mindset of an owner—taking responsibility and acting with purpose—can eventually lead to becoming one.
When you embody this mindset, opportunities begin to align with your vision.
Tech Updates
Ratan Tata sells 5% of his stake in Upstox
Mumbai-based stock broking startup Upstox has bought back 5% of Ratan Tata's shareholding in the company. In a statement, the company said that Tata got a 23,000% return on his initial investment. Tata continues to hold 95% of his original stake in the company. Back in 2016, he had acquired a 1.33% stake in the Tiger Global-backed startup.
UST acquires automation unit of ISG for Rs 226 crore
IT services firm UST said on Thursday that it has acquired the automation unit of Stamford-based Information Services Group (ISG) for a total consideration of $27 million (about Rs 226 crore). The California-based India-centric IT firm said the acquisition will strengthen its position in the intelligent automation segment and allow it to deliver a broader set of services to its clients.
Trillion Dollar Ventures launches Rs 50 Cr Fund II
Venture capital firm Trillion Dollar Ventures (TDV) has launched its second fund with a total corpus of Rs 50 crore, doubling its corpus size from the first fund. The new fund aims to support early-stage tech startups in India. TDV plans to back innovative founders and support companies in the pre-seed and seed stages with cheque sizes ranging from Rs 1-2 crore per startup.
Groww’s stock broking unit post Rs 2,900 Cr revenue and Rs 298 Cr profit in FY24
Groww Invest-Tech Private Limited, the stockbroking unit of Groww, posted an impressive 2.4X growth in its operating revenue during the fiscal year ended March 2024. At the same time, the Tiger Global-backed firm’s profits surged more than 4X in the same period.
Funding Deals
Specialty chemicals startup Mstack has raised $40 million (about Rs 335 crore) in a funding round led by Lightspeed Venture Partners and Alpha Wave Global.
Sports technology startup Str8bat has raised $3.5 million (about Rs 29.3 crore) in a Series A funding round led by Exfinity Venture Partners.
Bengaluru-based furniture retailer Furnishka has raised Rs 27 crore in a pre-series A funding round led by India Quotient, bringing the total equity raised by the company to Rs 45 crore.
ZEVO, a tech-enabled EV mobility platform, has raised $2 million in its pre-Series A round led by Pegasus India Fund, BizDateUp, JIIF, and a family office.
Oncare, a cancer care startup, has raised $1 million in its seed round led by Huddle Ventures. The round also saw participation from marquee institutional VCs such as TRTL Ventures, Cloud Capital, and DeVC.
Health-tech startup Ai Health Highway has raised $1 million in a pre-Series A funding round led by Turbostart.
Actress Samantha Prabhu has joined Secret Alchemist, a wellness brand, as co-founder following the company’s $500,000 seed funding round led by Inflection Point Ventures (IPV). The round also saw participation from Siddharth Shah, founder of Pharmeasy, and Rishubh Satiya, founder of Plix.
🧭 Short Story: The Intrapreneur’s Journey
Amar worked as a manager in a growing tech company. Unlike many of his peers who viewed their jobs as just roles to complete, Amar approached each project as if he owned the business.
He solved problems creatively, took initiative to improve processes, and treated every task as an investment in the company’s future.
Over time, his efforts were noticed by upper management, who offered him a partnership opportunity in a new venture.
Amar’s consistent owner-like mindset ultimately led him to become an actual stakeholder in the company, proving that thinking and acting like an owner opens doors to bigger opportunities.
Tweet of the day🐥
As you wrap up the week, reflect on how you approach your work and responsibilities. Do you think and act like an owner in your daily life?
Rise & Shine is here to remind you that ownership is not just a title—it’s a mindset that can transform your path.
Have a responsible and opportunity-filled Friday!
Thanks for reading till the end!