Week in Review🍿 (Aug 19 - Aug 24)
Week in Review🍿 (Aug 19 - Aug 24)
Catch up on the week's biggest tech advances and funding milestones – your ultimate guide to what’s new and noteworthy!
Hey, Rise & Shine family!
Get set to dive into this week’s tech marvels and funding triumphs.
Let’s explore the latest breakthroughs and celebrate our shared passion for innovation and progress!
Let's dive into the tech marvels that dominated the headlines:
Quick Recap of the Week
Blinkit expands services to overseas markets for Raksha Bandhan
Infosys to bag a $100 million pie in Microsoft-Coca Cola deal
Zomato share price drops around 1% after Alibaba arm Antfin’s stake sale worth ₹5,438.50 crore
NCLT approves slice and North East Small Finance Bank’s merger
Ant Group nets 4X return on investment in Zomato after latest part stake sale
UBS pegs $15.4 billion enterprise value to Zomato's Blinkit business
Zomato acquires Paytm’s movie and ticketing business for Rs 2,048 crore
Ola Electric shares surge post-debut; market cap at $7 billion
Bluestone closes Rs 900-crore pre-IPO round at $970-million valuation
Swiggy was valued at $11.5 billion by investor 360 One WAM
Zomato shuts intercity food delivery service Legends
PB Fintech adds new ESOP worth nearly Rs 2,000 Cr
Let’s move on to the top funding deals from the week.
Funding Deals
Ice cream brand Hangyo has raised $25 million (around Rs 211 crore) from Faering Capital. This is one of the largest venture funding for an ice cream brand in India ever.
Water purifiers and air conditioners manufacturer Livpure has scooped up Rs 208 crore ($25 million) in funding from M&G Investments through its Catalyst investment strategy, and around Rs 25 crore ($3 million) from Ncubate Capital Partners.
Healthcare company Even Healthcare has raised Rs 169 crore (approximately $20 million) in a new round led by Khosla Ventures.
Online lending platform Axio (formerly Capital Float) has raised Rs 167 crore (around $20 million) from existing investors via right issue.
Equity investment platform InvestorAi has raised Rs 80 crore (nearly $10 million) in a Series A round from Ashish Kacholia, founder, Lucky Investment Managers and his associates.
MSMEs-focused fintech lender FlexiLoans has raised Rs 75 crore (approximately $9 million) via non-convertible debt from JM Financial.
Uppercase, a new-age luggage manufacturer, has raised $9 million from Accel.
Ahmedabad-based Volt VC, a micro venture capital (VC) firm, announced the launch of its inaugural fund. The Volt VC Fund-1 aims to raise a corpus of Rs 45 crore to invest in around 20-25 consumer-centric startups at the pre-seed stage across various sectors.
Spice brand Zoff has secured Rs 40 crore ($4.8 million) from JM Financial Private Equity through JM Financial India Growth Fund III.
Mumbai-based fintech startup TransBnk has raised $4 million in Series A funding round led by 8i Ventures. The round also saw participation from Accion Venture Lab, GMO Venture Partners, Ratio Ventures, and Force Ventures along with a group of family offices, institutions, and angel investors.
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! 💡
