Swiggy sets IPO price band🍜
Q-comm see surge in Diwali gift orders, Slice completes merger, First Cheque to invest in 15-20 startups, Funding Deals and more.
Good morning and welcome to Tuesday’s edition of Rise & Shine!
"Learn from yesterday, live for today, hope for tomorrow. The important thing is not to stop questioning."
— Albert Einstein
Today, Einstein’s insightful words remind us of the importance of learning from the past, embracing the present, and keeping a curious, hopeful outlook.
Curiosity drives growth, helping us to continually explore, understand, and improve.
Tech Updates
Swiggy sets IPO price band between Rs 371-390 per share
Food and grocery delivery company Swiggy will price its upcoming initial public offering (IPO) in the range of Rs 371-390 per share, according to sources. At the upper end, this would peg the SoftBank-backed platform’s valuation at $11.3 billion.
Quick commerce platforms see surge in Diwali gift orders
Quick commerce platforms are seeing a surge in Diwali gift orders as they seek to increase their market share during the festive season. Blinkit, Swiggy Instamart, and Zepto have rolled out features like equated monthly instalments (EMI), postpaid options, and 10-minute returns for clothing and footwear and expanded their inventory with popular festival-related products.
Slice completes merger with North East Small Finance Bank
Bengaluru-based fintech startup Slice on Monday said it had completed its merger with North East Small Finance Bank (NESFB) with effect from October 27 after receiving all requisite shareholder and regulatory approvals. The integration will pave the way for the creation of a technology-driven bank along with a strengthened financial position focused on expanding operations, enhancing risk management frameworks and improving customer experience.
Early stage VC firm First Cheque to invest in 15-20 startups
Early-stage venture capital firm First Cheque has announced plans to invest in 15-20 startups over the next 18 months as part of its third cohort. The firm, which closed its second fund at ₹38 crore, aims to make pre-seed investments with an average first cheque size of up to $500,000.
Funding Deals
Edu-wealth startup Zinc has raised $25.5 million in seed funding. The round was led by Nexus Venture Partners, with participation from Quona Capital, EDBI, Global Ventures, and Saison Capital.
Grain commerce platform Arya.ag has secured a $19.8 million commitment from the United States International Development Finance Corporation (DFC) to guarantee a debt facility for its agri-commerce subsidiary, Aryatech.
👨🏻🎓 Short Story: The Ever-Curious Student
Lily, a lifelong learner, carried a notebook everywhere to jot down questions that came to her mind, from simple “why” questions to deep philosophical thoughts.
She made it a habit to research these questions, learning something new daily. Her curiosity led her to surprising discoveries, not just about the world, but about herself and her potential.
Through her relentless questioning and open mind, Lily found inspiration in the smallest details and never stopped growing.
Tweet of the day🐥
Today, embrace curiosity and let it guide you forward. Learn from yesterday’s lessons, live fully in today’s experiences, and stay hopeful about tomorrow.
Rise & Shine is here to remind you that by questioning and seeking, we uncover endless possibilities.
Have a curious and inspired Tuesday!
Thanks for reading till the end!