Shadowfax plans for IPO📊
Upgrad secures $60 million, 8i Ventures earns 12X return, Titan Capital closes new fund at Rs 333 crore, Funding Deals and more.
Good morning and welcome to Monday’s edition of Rise & Shine!
“Hope begins in the dark, the stubborn hope that if you just show up and try to do the right thing, the dawn will come.”
— Anne Lamott
Today, Anne Lamott’s beautiful words remind us that hope often emerges when things seem darkest.
Often, hope isn’t about being certain of the outcome, but about having the courage to take that next step, trusting that things will improve with perseverance, and doing what's right.
Tech Updates
Logistics firm Shadowfax eyes $50 million, doubling value to $700 million
Shadowfax is finalising a Rs 350-400 crore funding round, likely to value the company at Rs 5,500-6,000 crore, with this round being its last private funding before an initial public offering (IPO), according to sources. The company was planning to raise around $30-35 million in this round, but with the upcoming IPO and the company’s quick commerce exposure, it will expand the funding.
Upgrad secures $60 million from Temasek at $2.25 billion valuation
Temasek, Singapore's sovereign wealth fund, has invested an additional $60 million in Upgrad, valuing the higher education and upskilling startup at $2.25 billion, same as its previous funding round, sources told. Separately, Ronnie Screwvala, the edtech’s founder and chairman, has bought out Bharti Enterprises’ stake in the firm for $20 million.
8i Ventures earns 12X return on full exit from M2P Fintech
Ventue Capital firm 8i Ventures has announced its full exit from its investment in M2P Fintech, realizing a remarkable 12x return after 4.5 years. The exit came as part of M2P Fintech’s recent $100 million capital raise, which included both primary and secondary investments.
Titan Capital logs final close of new fund at Rs 333 crore
Titan Capital has announced the final close of its new opportunities fund at Rs 333 crore, earmarked for follow-on investments in its existing portfolio companies. Titan Capital, led by Snapdeal cofounders Kunal Bahl and Rohit Bansal, typically backs startups at a seed or pre-seed stage. This is the first time it raised external capital, with Bahl and Bansal having used personal capital for investments so far.
Funding Deals
Dairy technology solutions startup Stellapps has raised $26 million in a mix of equity and debt. Existing investors Blume Ventures, Omnivore, Bill & Melinda Gates Foundation, IDH Farmfit Fund, 500 Global (formerly 500 Startups) and Singapore-based Blue Ashva Capital along with new investor Miledeep Capital, with debt funding from the US International Development Finance Corporation (DFC), participated in the funding round.
Consumer food brand Yu has raised Rs 55 crore ($6.5 million) in a Series B round co-led by Ashish Kacholia and the Asian Promoter Group.
🧑🏻⚕️ Short Story: The Relentless Caregiver
Sara, a nurse working long hours in the ICU, faced exhausting shifts during a critical time. There were moments when it felt like the weight of the world was too much, and hope was hard to find.
Yet, each day she showed up, giving her best to care for patients who needed her most.
Slowly but surely, recovery stories emerged, and Sara realized that hope had always been present, even in the darkest moments. Her dedication and the compassion she showed played a part in bringing about the dawn of recovery for many. It wasn’t immediate, but it came through her commitment to showing up.
Tweet of the day🐥
As you begin this week, remember that hope often starts in the shadows, growing with each step you take. Keep showing up, doing the right thing, and trust that the dawn will come.
Rise & Shine encourages you to hold onto that hope and persevere.
Have a hopeful and resilient Monday!
Thanks for reading till the end!