Suzlon acquires 51% stake in Renom🔁
Suzlon acquires 51% stake in Renom🔁
VentureSoul Partners launches Rs 600 Cr fund, Flipkart Minutes live in Gurugram, MobiKwik Xtra suspends ‘anytime withdrawals’, Funding Deals and more.
Good morning and welcome to Monday’s edition of Rise & Shine!
“I can’t change the direction of the wind, but I can adjust my sails to always reach my destination.”
— Jimmy Dean
As we start a new week, Dean’s motivational words remind us of the power of adaptability in navigating life's challenges.
While we may not have control over external circumstances, we always have the choice to adapt our strategies and actions to ensure we stay on course toward our goals.
Tech Updates
Suzlon Energy acquires 51% stake in Renom Energy
Suzlon Energy on Friday announced that the company has completed the acquisition of 51 per cent of the equity share capital of Renom Energy, as of September 6. The company further informed that with the said acquisition, Renom Energy has now become a subsidiary of company.
VentureSoul Partners launches Rs 600 Cr maiden fund
VentureSoul Partners has marked the first close of its Rs 600 crore maiden fund, raising Rs 146.5 crore. The SEBI-registered Category II AIF is aiming a corpus of up to Rs 300 crore along with an additional Rs 300 Cr in greenshoe options.
After Bengaluru, Flipkart Minutes goes live in Gurugram
Flipkart Minutes, a quick commerce service by Flipkart, is now live for users in Gurugram and other parts of NCR region. This launch marks a significant step in Flipkart’s expansion plans, following the introduction of its rapid delivery service in Bengaluru.
MobiKwik Xtra suspends ‘anytime withdrawals’; draws flak from users
After a crackdown on peer-to-peer (P2P) lending by the Reserve Bank of India (RBI), MobiKwik’s Xtra investors are facing troubles with withdrawals. The issue appears to have been triggered by the change in the withdrawal policy by the platform’s lending partner Lendbox. The change, however, was made without any prior notice, according to some users, who highlighted the problem on X.
Funding Deals
Cross-border trade finance fintech Drip Capital has secured $113 million in new funding, including $23 million in equity from Japanese investors GMO Payment Gateway and Sumitomo Mitsui Banking Corporation (SMBC).
MO Alternate Investment Advisors Private Limited, along with its co-investors, has invested Rs 330 crore and acquired a minority stake in Bengaluru-based Lal Sweets, a packaged sweets company.
Pune-based Finarkein Analytics raised $4.75 million in a pre-Series A round led by Nexus Venture Partners. Existing investors IIFL’s Fintech Fund and Eximius Ventures, and angels like Uni’s Nitin Gupta and Ashika Group’s Chirag Jain also participated in this round.
⚡️ Short Story: The Adaptable Entrepreneur
Laura, a small business owner, faced significant challenges when a new regulation threatened her company’s operations. Initially overwhelmed, she remembered Jimmy Dean’s metaphor about adjusting sails.
Inspired, she sought creative ways to adapt her business model to comply with new regulations while still serving her customers effectively.
Laura diversified her product line and shifted some of her business online, which not only addressed the regulatory challenges but also opened up new markets for her company. Her ability to adapt and pivot quickly turned a potential business crisis into an opportunity for growth and expansion.
Tweet of the day🐥
As you face this week’s challenges, remember that your ability to adapt is a key determinant of your success.
Like adjusting sails to navigate changing winds, flexible strategies and creative thinking can help you overcome obstacles and continue progressing toward your goals.
Rise & Shine encourages you to embrace adaptability as your tool for navigating the uncertain waters of life.
Have an adaptable and successful Monday!
Thanks for reading till the end!