Swiggy seeks $1.25 Bn in IPO📊
Swiggy seeks $1.25 Bn in IPO📊
Cred launches offline payments, PayU’s Wibmo building payment solutions, Happiest Minds to acquire PureSoftware Tech, Funding Deals and more.
Greetings, Champions of Joy and Fulfillment!
"Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful."
– Albert Schweitzer
Join us as we explore the transformative power of passion and purpose, illuminating the path to true achievement.
Let us embrace the joy of the journey and celebrate the essence of genuine success.
Tech Updates
Cred launches offline QR code-based ‘scan and pay’ payments
Fintech unicorn Cred has launched offline QR code-based ‘scan and pay’ payments at large format stores and will roll out the solution at select merchant outlets throughout this year. Cred was running pilots around offline payments and had received in-principle approval from the Reserve Bank of India for an online payment aggregator licence.
Swiggy secures shareholder nod for a potential $1.25-billion IPO
Shareholders have greenlit Bengaluru-based Swiggy’s initial public offering (IPO) worth $1.25 billion. The company plans to raise Rs 3,750 crore ($450 million) in fresh capital, in addition to an offer-for-sale (OFS) component of up to Rs 6,664 crore ($800 million), according to filings made with the Registrar of Companies. Swiggy is looking to also pick up about Rs 750 crore from anchor investors in a pre-IPO round.
PayU’s Wibmo building full-stack payment gateway solutions
Naspers-owned PayU went on an acquisition blitz between 2019 and 2020, growing inorganically into credit (PaySense), payments authentication (Wibmo), payment gateway (Red Dot Payment). Wibmo, which was mainly an authentication platform for online card transactions, is now becoming a full-stack payment gateway.
Happiest Minds to acquire PureSoftware Technologies for Rs 779 crore
Happiest Minds Technologies will acquire Noida-based digital engineering and transformation services and solutions provider PureSoftware Technologies for $94.5 million (Rs 779 crore).
Funding Deals
Premium fashion and lifestyle platform Lyskraft, founded by former Zomato executive Mohit Gupta and Myntra founder Mukesh Bansal last year, has raised $26 million in one of the biggest seed funding rounds for a local startup in recent years. The fundraise was led by Peak XV Partners, while other investors such as Prosus, Belgian investment fund Sofina, and partners of DST Global have also pumped in capital.
Healthcare and insurtech firm Flashaid has raised $2.5 million in its pre-Series A funding round led by Piper Serica Angel Fund and global venture capital firm SOSV. Early-stage investors —Z21 Ventures Fund and ZNL Growth Fund also participated in this round.
MatchLog Solutions, a sustainable container logistics and supply chain optimisation, has raised $1.5 million in its pre-series A round led by Motion Ventures and July Ventures, with participation from Venture Catalysts, Blue Ashva Capital, and Capital A.
Control One AI, an AI-first robotics startup, has raised $350K from a group of investors in the United States and India such as Kunal Shah (Founder, CRED), Chaitanya R (Co-Founder, Wakefit) & Amit Singh (Ex-MD, Avendus Capital) and Silicon Valley-based top supply chain executives from Tesla, Amazon, Walmart, eBay, Mercedes-Benz, and General Electric.
Awign, a work-as-a-service platform, has announced a strategic majority stake acquisition in an all-cash deal from Mynavi Corporation.
FlexiCloud Internet, a company specializing in managed cloud hosting solutions, has raised strategic funding from Ushodaya Enterprises Private Limited, the holding corporation of the Ramoji Group.
🏁 Short Story: The Dance of Purpose
In the heart of the bustling city, Sarah found herself immersed in the rhythm of life, guided by her unwavering passion for art.
Despite the challenges she faced, Sarah remained steadfast in her pursuit of creativity, finding solace in the simple act of painting.
As she lost herself in the vibrant hues of her masterpiece, Sarah discovered the true essence of success—the sheer joy of doing what she loved.
Tweet of the day🐥
As we bask in the radiance of happiness and fulfillment, let us remember that true success lies not in the destination, but in the journey itself.
Thank you for joining us on this enriching exploration of purpose and passion.
Stay tuned for our next edition as we continue to unravel the mysteries of a life well-lived.
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