Swiggy's $1.25 billion IPO📊
Zerodha hits Rs 8370 Cr revenue, BigB, Dravid, KJo and others grab a share of Swiggy’s pre-IPO, Foxconn's assembly unit in Tamil Nadu, Funding Deals and more.
Good morning and welcome to Wednesday’s edition of Rise & Shine!
“The big secret in life is that there is no secret. Whatever your goal, you can get there if you’re willing to work.”
— Oprah Winfrey
Today, Oprah Winfrey’s empowering words remind us that success is not about shortcuts or secrets—it’s about dedication and hard work.
There are no magic formulas—just consistent effort, perseverance, and the willingness to keep pushing forward, no matter how challenging the journey becomes.
Tech Updates
Swiggy gets Sebi nod for proposed $1.25 billion IPO
Food and grocery delivery platform Swiggy has received approval from the market regulator for its proposed $1.25 billion public issue. Swiggy will now need to file an updated draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi). A 21-day period will be provided for the public to give feedback on the updated DRHP before launching the IPO.
Zerodha hits Rs 8,370 Cr revenue with over 55% profit margin in FY24
Stock broking platform Zerodha has reported more than Rs 8,370 crore in revenue and Rs 4,700 crore in profit, according to a blog post by the company’s co-founder and CEO, Nithin Kamath. This marks a significant increase from the Rs 6,875 crore in operational revenue and Rs 2,907 crore in profit after tax reported in FY23.
BigB, Dravid, KJo and other top celebrities grab a share of Swiggy’s pre-IPO pie
A raft of celebrities from entertainment, sports, and enterprises are endorsing food and grocery delivery disruptor Swiggy through the unlisted market ahead of its IPO despite competition from rivals from players like Zomato and Zepto.
Foxconn lines up nearly $1 billion to set up smartphone assembly unit in Tamil Nadu
Foxconn is evaluating an investment of about $1 billion to set up an assembly unit for smartphone display modules in Tamil Nadu, according to people aware of the developments. This will be the first such facility to be set up by the Taiwanese contract manufacturer in India to assemble display modules for iPhones.
Funding Deals
Conversational AI startup CoRover has raised $4 million in its Series A round led by Venture Catalysts. CanBank Venture Capital Fund (CVCFL), IIM Calcutta (Innovation Park), IIIT Delhi (iHub Anubhuti IIITD Foundation), Cogniphy LLC, Karekeba Ventures, Lead Angels and others have also participated.
B2B SaaS startup Atomicwork has raised an additional $3 million in its seed round from Abhinav Dhar, ex-CIO of TransUnion, Prasad Ramakrishnan, CIO and technology leader, Avanish Sahai, former ecosystem leader at Salesforce, ServiceNow, and Google Cloud and Rich Waldron, CEO of Tray.
Jhana, a legal-tech startup specializing in AI-powered legal assistants, has raised $1.6 million in a seed funding round led by Girish Mathrubootham (founder of Freshworks) and Manav Garg (founder of Eka Software), through their VC fund, Together Fund.
Dairy-tech startup ORIGHT has raised $1 million in a seed funding round led by Aeravti Ventures.
TraqCheck, an enterprise software startup, has raised an undisclosed amount in a funding round from Alok Oberoi, former head of Goldman Sachs’ international wealth management business; Aakash Anand, founder of Bellavita; and Caret Capital.
👩🏻🎓 Short Story: The Relentless Student
Jared, a student with dreams of attending a top law school, initially sought out tips and secrets to stand out in his applications. He spent months researching shortcuts, hoping for an easy path to success.
After reflecting on Oprah’s quote, he realized that the true “secret” was simply putting in the hard work.
Jared shifted his focus to studying intensely, participating in extracurriculars, and writing a thoughtful application. His relentless dedication paid off when he received an acceptance letter from his dream school. Jared learned that there were no hidden shortcuts—just the power of consistent, focused effort.
Tweet of the day🐥
As you go through your day, remember that success comes from putting in the work, day by day. There’s no hidden formula, just the steady application of effort toward your goals.
Rise & Shine encourages you to embrace the process, knowing that hard work always pays off.
Have a hardworking and goal-driven Wednesday!
Thanks for reading till the end!