Trump wins to become 47th President of USA💸
Swiggy IPO subscribed 12%, Starship's sixth test flight to take off, Funding Deals and more.
Good morning and welcome to Thursday’s edition of Rise & Shine!
"It’s good to learn from your mistakes. It’s better to learn from other people’s mistakes."
— Charlie Munger
Today, Charlie Munger’s insightful words remind us that while learning from our mistakes is valuable, learning from the experiences of others can be even more powerful.
By keeping an open mind and learning from the journeys of others, we can gain valuable insights without having to experience every setback ourselves.
Tech Updates
Trump 2.0: More money may venture into Indian startups
With Donald Trump returning to the White House, the Indian startup ecosystem is looking forward to stronger fund flow and technology cooperation between India and the United States.
Some of the things that the Indian technology ecosystem is watching out for are:
Stability in policymaking with Republicans controlling the government, Senate, and Congress
Technology sector support is expected with JD Vance, an ex-venture capitalist, as vice president
Better tax policies for corporate houses benefiting Indian startups registered in the US
Increased US fund flow to India due to hardened stance towards China
Swiggy IPO subscribed 12% on first day of bidding
The initial public offering (IPO) of food and grocery delivery company Swiggy, which opened on Wednesday, was subscribed 12% on its first day. While the employee portion was subscribed 74%, retail investors bid for 54% of the shares allocated for their category. Qualified institutional bidders (QIBs), which typically increase their bidding activity on the last day of an issue, were largely absent on Wednesday.
Starship's sixth test flight to take off on November 18: SpaceX
After a historic test flight of Starship last month, SpaceX on Thursday announced the sixth, aiming to launch on November 18. During Starship's fifth test flight in October, the Super Heavy booster successfully returned to the launch site and was caught by the "chopstick arms" and catch tower at Starbase. For the next flight, the world's largest and most powerful rocket "aims to expand the envelope on ship and booster capabilities and get closer to bringing reuse of the entire system online", SpaceX said.
Funding Deals
MODIFI, a global platform specializing in B2B Buy Now, Pay Later (BNPL) solutions, has raised $15 million in a funding round led by SMBC Asia Rising Fund, with participation from existing investors Maersk, Intesa Sanpaolo, Heliad, and other global backers.
Boldfit, a direct-to-consumer brand of fitness products and nutritional supplements, raised Rs 110 crore (about $13 million) from venture capital firm Bessemer Venture Partners.
Deep-tech robotics startup CynLr (Cybernetics Laboratory) has secured $10 million in a Series A funding round co-led by Pavestone and Athera Venture Partners (formerly Inventus India), bringing its total funding to $15.2 million. Existing investors, including Speciale Invest and Infoedge (Redstart), along with other investors, also participated in this round.
The Hosteller, a backpacker hostel chain, has raised Rs 48 crore in a funding round led by V3 Ventures in a mix of equity and debt. This includes a debt of Rs 16 crore from the venture debt platform Blacksoil.
Software-as-a-service (SaaS)-focused agentic artificial intelligence (AI) platform Pulse has raised $1.4 million in a seed funding round led by Endiya Partners, with participation from a group of angel investors, including the founders of software-as-a-service (SaaS) platform Zluri and customer service startup Yellow.ai, along with other entrepreneurs.
Electric vehicle startup MOOEV Technologies has secured Rs 4 crore in seed funding, led by Bizdateup with participation from Inflection Point Ventures and Spectrum Impact (Aarti Industries Family Office).
Heliware, an AI-powered 3D geospatial platform, has raised ₹4 crore in Pre-Series A funding round led by JITO Incubation and Innovation Foundation (JIIF), with participation from TiE and Vatvistaar Ventures.
💼 Short Story: The Savvy Investor
Maya, a budding investor, initially felt compelled to dive into the market headfirst, learning as she went. However, after hearing Munger’s quote, she took a different approach.
She began studying the mistakes of seasoned investors, learning from their errors and avoiding their missteps. This approach saved her from potential losses and allowed her to build a solid, informed strategy.
By learning from others’ experiences, Maya fast-tracked her success and avoided common pitfalls.
Tweet of the day🐥
Today, keep your eyes open for the lessons others’ experiences can offer. Observe, reflect, and take note of the paths that have been tried before you.
Rise & Shine encourages you to combine your growth with the wisdom of others, setting yourself up for success.
Have a thoughtful and insightful Thursday!
Thanks for reading till the end!