Swiggy's market debut🍜
Blackbuck IPO sees 24% subscription, Apple India profit soars, SoftBank to get first new Nvidia chips, Funding Deals and more.
Good morning and welcome to Thursday’s edition of Rise & Shine!
"If you want to be successful, I would encourage you to grow a tolerance for failure."
— Jensen Huang
Today, Huang’s insightful words remind us that failure isn’t the opposite of success—it’s a vital part of the journey. Developing resilience in the face of setbacks is key to achieving our goals.
By viewing failure as a stepping stone rather than an endpoint, we build the resilience needed to persist through challenges.
Tech Updates
Swiggy delivers best major listing in 10 years
Sriharsha Majety-led Swiggy made a strong debut on the bourses on Wednesday at a 5.6% premium to its initial public offer (IPO) price of Rs 390, making it the first company with an issue size of over Rs 10,000 crore in the past decade to have listed above its offer price. The stock closed 17% above its issue price at Rs 455.95 in a weak market, surpassing analysts’ expectations of a tepid debut.
Blackbuck IPO sees 24% subscription on day 1
Zinka Logistics, the parent company of Flipkart-backed trucking aggregator BlackBuck, opened its initial public offering on Wednesday, with investors bidding for 24% of the shares available for sale.
Apple India profit soars, so does dividend payout
Tech giant Apple’s profit and sales in India soared in FY24 on the back of rising iPhone sales, bringing it closer to arch-rival Samsung India's smartphone business. Highlighting the importance of the Indian market, filings showed that Apple's Indian sales and marketing entity transferred Rs 3,302 crore to its Ireland-based holding company as dividend for FY24, which was more than double than the year before.
SoftBank to get first new Nvidia chips for Japan supercomputer
Nvidia CEO Jensen Huang announced on Wednesday that SoftBank’s telecoms unit will be the first to receive the chipmaker’s latest Blackwell design for its supercomputer, as Masayoshi Son looks to ride the AI boom. Nvidia made these announcements at an AI event in Tokyo featuring SoftBank Group CEO Son and Huang
Funding Deals
Electric aircraft startup The ePlane Company has raised $14 million in Series B funding round co-led by Speciale Invest and Antares Ventures, with continued backing from Micelio Mobility, Naval Ravikant, Java Capital, Samarthya Investment Advisors, Redstart (from Naukri), and Anicut.
Brand protection and authentication solutions provider Ennoventure has raised $8.9 million in Series A funding round led by Singapore based venture capital firm Tanglin Venture Partners along with participation from existing investors, including Fenice Investment Group and additional SAFE investors.
BiteSpeed, an AI-powered customer OS for e-commerce brands, has raised $3.5 million in its pre-Series A round led by Peak XV’s Surge. Whiteboard Capital, Gaurav Munjal (CEO, Unacademy), Aakash Anand (CEO, Bella Vita), and Dhruv Vohra (APAC Head, META), amongst others have also participated.
Zeplyn, designed to streamline wealth management workflows, has raised $3 million in a seed funding round led by Leo Capital. The round also saw participation from several angels and VC funds - Converge.
Same-day delivery service platform Pikndel has raised $1 million in its seed round led by VC Grid. The round also saw participation from several notable investors, including D2C Insider Angels, Breathe Capital, Venture Catalysts, and industry leaders such as Akash Gupta from Zypp, Keshav Bhajanka and Sanjay Agarwal from Century Plywood, and Kanishka Sethia from Western Carriers, along with family offices from Kolkata.
Enterprise software and B2B SaaS company Kovai.co has acquired Bengaluru-based B2C SaaS startup Floik.
💡 Short Story: The Determined Innovator
Lila, a software developer, spent months working on an app she believed would revolutionize her industry. Her first launch was a flop—users complained about glitches, and the app didn’t meet expectations.
Initially disheartened, Lila decided to use the feedback as a learning opportunity. She refined her product, addressed the issues, and re-launched it with improvements.
The second launch was a massive success, making Lila’s app a favorite in her niche. Her tolerance for failure and willingness to adapt turned an initial setback into a breakthrough.
Tweet of the day🐥
As you go about your day, remember that failure is a natural part of progress. Instead of fearing it, embrace it as an opportunity to learn and grow.
Rise & Shine reminds you that resilience in the face of failure ultimately leads to success.
Have a courageous and determined Thursday!
Thanks for reading till the end!