Week in Review🎢 (Aug 12 - Aug 17)
Week in Review🎢 (Aug 12 - Aug 17)
Ready to explore the latest in tech? This Week in Review brings you a whirlwind of innovation and funding successes – your front-row seat to what's next! 🎉
Hey there, Rise & Shine fam!
Get ready for a journey through the latest tech wonders and funding victories.
Join us as we explore groundbreaking updates and celebrate our shared passion for growth and innovation.
Let's dive into the tech marvels that dominated the headlines:
Quick Recap of the Week
Gaana was acquired by Radio Mirchi’s parent for Rs 25 lakh
Garuda Aerospace set to spread wings in Sri Lanka
Ola Electric shares up 20% on Day 2 after listing; hit upper circuit
FirstCry shares list at 35% premium over IPO price
Sachin Tendulkar pads up to venture out with new sports brand
Ecom Express board approves Rs 2,600 Cr IPO
Ola Electric reports Rs 1,644 Cr revenue in Q1 FY25; losses fall 17%
Ola Unveils EVs, AI Chips, and Quick Commerce Revolution
ISRO launches third SSLV carrying Earth Observation Satellite from Sriharikota
India 14th in AI research with just 1.4% share of papers: Study
Let’s move on to the top funding deals from the week.
Funding Deals
Hospitality major Oyo has raised Rs 1,457 crore (nearly $175 million) in a Series G round from a group of investors including InCred Wealth, Patient Capital, J&A Partners, the family office of Mankind Pharma promoters and ASK Financial Holdings.
Bengaluru’s Ather Energy has become the fourth unicorn to be minted in India this year after closing a Rs 600 crore ($71 million) funding round from existing investor the National Investment and Infrastructure Fund (NIIF) at a $1.3 billion post-money valuation.
Wealth and asset management firm Neo has raised Rs 400 crore or $48 million in Series B round led by MUFG Bank and New York-based Euclidean Capital LLC. Existing investor Peak XV Partners also participated in this round.
Compostable food packaging solution manufacturer Pakka Limited has raised Rs 244.7 crore to ramp up its R&D efforts and scale its production facility.
Singapore-based saving and investment platform Syfe has raised $27 million (Rs 226 crore) in funding from Valar Ventures and Unbound, and new investment from two UK family offices.
Trade finance platform Vayana has raised $20.5 million from investors led by Sumitomo Mitsui Banking Corporation (SMBC) Asia Rising Fund to fuel its plan to introduce new products.
All-electric intercity bus startup Fresh Bus has raised Rs 87.5 crore ($10.5 million) in Series A funding round led by international early-stage transportation-focused VC fund Maniv, with participation from Shell Ventures, Alteria Capital, and existing investor Riverwalk Holdings.
Beco, a homegrown eco-friendly home, kitchen and personal care brand, has raised $10 million in its pre-Series B round led by Tanglin Venture Partners.
Payment gateway and point of sales (PoS) provider Innoviti has Rs 70 crore ($8.5 million) in a combination of equity and debt. The second tranche of Series E round was led by Random Walk Solutions, with participation from existing investors Bessemer Venture Partners USA, Patni Family Office India, and Alumni Ventures.
E-mobility startup Kazam has secured $8 million in Series A3 funding round led by Vertex Ventures Southeast Asia and India. The round also witnessed participation from Avaana Capital, Alteria Capital, and other notable investors.
Healthcare startup 4baseCare has raised $6 million in its Series A round led by Yali Capital.
Cross-border payment startup Skydo has raised $5 million in a fresh equity round led by Elevation Capital along with participation from a few angel investors.
Ethnic wear brand Fashor has raised $5 million in a funding round from early-stage venture capital firm Blume Ventures in a mix of primary and secondary transactions.
As we wrap up this edition, let's reaffirm our commitment to positivity, resilience, and seizing every opportunity that comes our way.
In the vast canvas of the tech world, let's pick up our brushes and paint a masterpiece of optimism and innovation together.
Here's to Rising & Shining Together! 💡
