Sachin Bansal to sell $100 mn investment in Ola🚖
Nykaa sees Q3 net revenue growth, BluSmart launches invite-based service in Mumbai, New startup Pre6, Funding deals and more.
Good morning and welcome to Tuesday’s edition of Rise & Shine!
“You are only entitled to the action, never to its fruits.”
— Bhagavad Gita
Today, the Bhagavad Gita’s timeless wisdom reminds us to focus on our efforts rather than being fixated on the outcomes. Let’s explore the peace and power this mindset can bring.
Success is often the natural result of focused effort, but detachment from results allows us to stay present and resilient.
Tech Updates
Sachin Bansal in talks to sell $100 million investment in Ola at a premium
Flipkart cofounder Sachin Bansal, who invested $100 million in Bhavish Aggarwal’s Ola in 2019 in what was his largest personal investment in a startup, has begun talks with investors to sell the stake in the ride-hailing company. Sources said Bansal wants a higher price for his stake, valuing the company at about $4 billion.
Nykaa sees Q3 net revenue growth to be higher than mid-20s
Nykaa parent FSN E-commerce Ventures said the net revenue growth of its beauty vertical was higher than mid-twenties in the December quarter. The gross merchandise value (GMV) for the vertical is projected to be in the low thirties, reflecting strong momentum across all of Nykaa's beauty businesses—e-commerce platforms, retail stores, owned brands, and eB2B distribution.
BluSmart launches invite-based service in Mumbai
BluSmart, the electric ride-hailing company that has been rapidly gaining traction in India and beyond, has announced its much-anticipated expansion into Mumbai. Mumbai becomes the latest city to join BluSmart's electric mobility network, which has already seen success in Delhi-NCR, Bengaluru, and the UAE. Initially, BluSmart's services in Mumbai will be available through am invite-only system before it becomes widely accessible.
Udaan's Amod Malviya and Rishi Kedia launch new startup Pre6
Udaan co-founder Amod Malviya has teamed up with Rishi Kedia, the chief financial officer of the B2B e-commerce firm, to launch a new startup, Pre6. Malviya and Kedia announced Pre6 on LinkedIn. However, the duo did not disclose much about the new company, which will be based out of Bengaluru.
Funding Deals
Gruhas-backed energy tech startup Emo Energy has raised $6.2 million in an equity funding round led by Subhkam Ventures. The round also saw participation from new and existing investors such as Microtek Group, SRK Family Office, and Transition VC.
Electric tractor technology company Moonrider has raised a seed round of $2.2 million (Rs 19 crore), co-led by AdvantEdge Founders and Micelio Technology Fund and a group of angel investors.
Healthtech startup Consint.AI has raised Rs 5 crore in a funding round led by Equanimity Ventures and Seafund.
👨🏼🎨 Short Story: The Artist’s Dedication
Aditi, a painter, once spent hours perfecting a piece for an art competition, only to receive no recognition. Disheartened, she considered quitting. Remembering the teachings of the Bhagavad Gita, she shifted her mindset and began painting for the joy of creation rather than accolades.
This newfound focus brought her peace and helped her improve her craft. Eventually, her work gained widespread appreciation. Aditi rediscovered her passion by focusing on her effort instead of the reward.
Tweet of the day🐥
Today, dedicate yourself fully to your actions without worrying about the results. Let the process be your guide, and trust that the outcomes will follow naturally.
Rise & Shine reminds you that true success lies in the effort, not the reward.
Have a mindful and purposeful Tuesday!
Thanks for reading till the end!