Tata enters in q-comm with 'Neu Flash'⚡
InsuranceDekho set to acquire rival RenewBuy, Swiggy IPO valuation at $11.2 bn, Flipkart revenue grows 21%, Funding Deals and more.
Good morning and welcome to Monday’s edition of Rise & Shine!
“Each life is made up of mistakes and learning, waiting and growing, practicing patience and being persistent.”
— Billy Graham
Today, Billy Graham’s quote offers a comforting reminder that life is a journey of continuous learning, growth, and perseverance.
Let’s explore how these elements shape a fulfilling life.
It’s a reminder that life isn’t about perfection but persistence and growth through every phase.
Tech Updates
Tatas to enter red-hot quick commerce space with ‘Neu Flash’
Joining Flipkart and Reliance Industries, salt-to-software conglomerate Tata Group is set to enter the ever-growing quick commerce sector as customer demand rages in metros. Tata's ecommerce venture Neu will enter the fast-delivery segment branded as Neu Flash. The Tata group will leverage its multiple platforms for various categories — BigBasket for groceries, which is itself doing a full pivot to quick commerce, Croma for electronics and phones, and Tata Cliq for fashion and lifestyle products.
InsuranceDekho set to acquire rival RenewBuy valuing it at $300-350 million
Gurugram-based insurance broker InsuranceDekho is in talks to acquire its smaller rival RenewBuy in a largely share-swap deal marking a major consolidation event in the insurance distribution sector. While RenewBuy will be valued at around $350 million, InsuranceDekho’s valuation is being pegged at $600 million, giving the merged entity a combined value of nearly $1 billion.
Swiggy IPO valuation at $11.2 billion; BlackRock, CPPIB, SBI MF, others subscribe to anchor book
Food and grocery delivery company Swiggy’s initial public offering (IPO) will value the firm at $11.2 billion. The Rs 11,300 crore IPO will be among the largest this year in India. The issue is likely to launch on November 6. Founders Sriharsha Majety, Rahul Jaimini and Nandan Reddy are also partially selling their stakes.
Flipkart marketplace arm revenue grows 21% to Rs 17,907 crore, cuts loss by 41% in FY24
Flipkart Internet, the marketplace arm of Flipkart, reported revenue of Rs 17,907.3 crore for 2023-24, up nearly 21% year-on-year, while its losses fell 41% to Rs 2,358 crore, according to regulatory filings sourced from business intelligence platform Tofler.
Funding Deals
B2B e-commerce platform Udaan has raised nearly Rs 300 crore (over $35 million) in debt funding from Lighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital.
On-demand home services startup COOX has raised $125K in its Seed round led by Inflection Point Ventures.
D2C Insider, a networking community for India’s direct-to-consumer (D2C) sector, has made investments of up to Rs 1 crore each in three early-stage startups: The Paan Legacy, Hemptyful, and Polr.Care.
👩🏻🌾 Short Story: The Journey of the Patient Gardener
Oliver, an aspiring gardener, was eager to create a thriving vegetable garden. In his first attempt, he overwatered his plants, leading to poor growth.
Initially discouraged, he decided to learn from his mistakes. He researched gardening techniques, adjusted his approach, and waited patiently for the next growing season.
Over time, Oliver’s patience and persistence paid off. He watched his garden flourish, each vegetable a testament to his journey of trial, learning, and growth. His garden became a symbol of his ability to turn mistakes into lessons and practice patience as he waited for results.
Tweet of the day🐥
As you begin your week, remember that life’s journey is about learning and growing through mistakes, practicing patience, and staying persistent. Embrace each phase as an opportunity for development.
Rise & Shine is here to remind you that every step you take, whether small or challenging, contributes to your growth.
Have a patient and growth-filled Monday!
Thanks for reading till the end!