Shein to re-enter India?🧥
Peak XV has Rs 16,000 crore for AI, Ixigo’s Q4 net profit jumps 55%, CoinDCX acquires BitOasis, Funding Deals and more.
Welcome to Friday’s edition of Rise & Shine!
“Everything you’ve ever wanted is sitting on the other side of fear.”
- George Addair
Today’s quote highlights the transformative power of facing our fears.
By confronting what scares us, we open ourselves up to endless possibilities and achievements.
Tech Updates
Fast fashion brand Shein to re-enter India on Reliance Retail's app, stores
Reliance Retail Ventures is set to finally launch Chinese fast-fashion label Shein in the coming few weeks. This comes a year after the two companies entered into a strategic partnership. Shein has a presence across 150 countries and over 250 million followers on social media. In India, it will compete directly with Myntra and Tata Group-owned Zudio in the affordable fast-fashion space.
Peak XV has Rs 16,000 crore for investment; AI to be in focus: Rajan Anandan
Venture capital firm Peak XV Partners has “about Rs 16,000 crores of dry powder” ready for investment in startups, managing director Rajan Anandan said on Thursday. At the global IndiaAI summit, Anandan emphasised the abundant availability of capital and urged more entrepreneurs to venture into AI.
Ixigo’s Q4 net profit jumps 55%, triples for full year
Online travel booking platform Ixigo, which went public last month, has reported a 20% year-on-year (YoY) increase in its operating revenue to Rs 164.8 crore for the quarter ended March 2024. Its net profit in the period jumped 55% to Rs 7.3 crore. For the fiscal year 2024, Ixigo’s net profit more than tripled to Rs 73 crore from Rs 23 crore in FY23. Revenue from operations grew by 31% on year in FY24 to Rs 655.8 crore.
CoinDCX acquires crypto firm BitOasis
Cryptocurrency exchange CoinDCX has acquired 100% stake in BitOasis, a virtual asset trading platform with a presence in the Middle East and North Africa. CoinDCX had previously made a strategic investment in BitOasis in August 2023. Following the acquisition, BitOasis’ team will integrate into CoinDCX, with the existing leadership continuing to oversee operations under the BitOasis brand.
Funding Deals
Agritech startup Arya.ag has raised Rs 242.36 crore approximately ($29.2 million) from existing investors. The company has received Rs 134.46 crore from previous backers: Asia Impact and Quona Capital through Quona Blue Earth and Accion Quona.
Japanese automotive conglomerate Suzuki has launched an India-focused venture investment arm called Next Bharat Ventures, with a corpus of Rs 340 crore to back early-stage startups.
🌉 Short Story: Crossing the Bridge of Fear
Jake had always dreamed of becoming a public speaker, but his fear of standing in front of an audience paralyzed him. The thought of speaking to a crowd made his heart race and his palms sweat.
For years, he avoided opportunities that required public speaking, convinced he would never overcome his fear.
One day, Jake stumbled upon George Addair’s quote: “Everything you’ve ever wanted is sitting on the other side of fear.” The message resonated deeply with him. Determined to conquer his fear, Jake signed up for a local public speaking course.
The first few sessions were challenging. His voice trembled, and his nerves were palpable. But as he continued to practice and receive feedback, his confidence grew. Jake pushed through the discomfort, focusing on his passion for sharing ideas rather than the fear itself.
Months later, Jake delivered a speech at a community event. The once-dreaded experience became a moment of triumph. The audience’s applause and appreciation validated his efforts, and Jake realized that his dream was now within reach. By facing his fear head-on, he unlocked a new world of opportunities and fulfillment.
Tweet of the day🐥
As we wrap up the week, let George Addair’s words inspire you to face your fears.
Remember, the things you desire most are often just beyond the barriers of fear.
Embrace courage, take that leap, and discover the incredible possibilities waiting for you on the other side.
Reading Rise & Shine daily helps you start your day on a positive note by offering wisdom and inspiration.
Have a fearless Friday, and may you find the courage to chase your dreams!
Thanks for reading till the end!