Slice Small Finance Bank 🏦
Meesho closes $500 million round, AstroTalk enters the D2C vertical, Ultrahuman reports Rs 620 Cr revenue, Funding Deals and more.
Good morning and welcome to Monday’s edition of Rise & Shine!
"First forget inspiration. Habit is more dependable. Habit will sustain you whether you're inspired or not."
— Octavia E. Butler
Today, Octavia E. Butler’s wise words remind us that while inspiration sparks action, consistent habits sustain progress and drive long-term success.
Building strong habits through exercise, learning a new skill, or working toward a goal ensures progress even when motivation is absent.
Tech Updates
North East Small Finance Bank to rebrand as Slice Small Finance Bank
North East Small Finance Bank Limited (NESFB) is set to undergo a rebranding initiative with a proposed name change to Slice Small Finance Bank Limited (Slice SFB), according to a company extraordinary general meeting (EGM) notice. The name change has already received a “no objection” letter from the Reserve Bank of India (RBI) on January 16, 2025, and is subject to final approval by the Registrar of Companies.
Meesho closes $500 million round; moves NCLT to shift domicile
E-commerce company Meesho has secured an additional $250-$270 million in funding. The fresh funding has come from new investors, including Tiger Global, Think Investments, and Mars Growth Global, in a $500-$550 million funding round alongside existing backers such as Peak XV Partners and WestBridge Capital. According to sources, this concludes Meesho’s pre-initial public offering (IPO) fundraising exercise, in which a majority of the capital is secondary.
AstroTalk enters the D2C vertical, targets Rs 1,250 Cr revenue in FY25
Online astrology consultancy platform AstroTalk has ventured into the direct-to-consumer (D2C) vertical with the launch of ‘Astrotalk Store’. The vertical serves as a destination for gemstones and healing stones charged with ‘positive mantras and chants’ by astrologers. The collection also includes accessories designed to enhance both style and energy alignment, with categories such as Love, Money, and Evil Eye, as per the company.
Ultrahuman reports Rs 620 Cr revenue in 2024
Wearable tech startup Ultrahuman has recorded a skyrocketing jump in its operating scale to $74.5 million (approximately Rs 620 crore) for calendar year 2024 or CY24, according to the company’s annual report disclosure. This represents an almost six-fold increase in revenue compared to $12.9 million (approximately Rs 107 crore) in 2023 (CY23).
Funding Deals
Third-party logistics provider Emiza has raised Rs 100 crore in series C fundraise led by Evolvence India and Mirabilis Investment Trust.
VoltUp raised $8 million in a seed round comprising equity and debt, led by UK-based impact investment firm, EM Impact Capital.
Dressfolk, a handloom clothing brand, has secured a fresh round of undisclosed funding led by Eternal Capital, along with D2C founders Ghazal Alagh (founder, Mamaearth) and Dhruv Koli (founder, Boba Bhai), with participation from Nobody Ventures and Eagle Wings Ventures. The round also saw participation from 3 Peaks Ventures joined the round with existing investors All In Capital, Sidhant Keshwani (of Libas) and Vidur Kataria (of Master Chow).
Shadowfax, one of India's leading new-age logistics and delivery platforms, has acquired CriticaLog, a logistics firm specializing in bespoke critical logistics solutions.
📝 Short Story: The Relentless Writer
Amit, an aspiring novelist, often found himself waiting for inspiration to strike before writing. Realizing this led to inconsistent progress, he decided to establish a daily writing habit.
Even on uninspired days, he wrote a few lines. Over time, his consistent effort paid off, and he completed his first novel. Amit discovered that it wasn’t inspiration, but his habit of showing up, that made his dream a reality.
Tweet of the day🐥
As you start your week, focus on building habits that align with your goals. They will carry you forward, even when inspiration wavers.
Rise & Shine reminds you that consistency is the key to achieving great things.
Have a disciplined and habit-driven Monday!
Thanks for reading till the end!