Week in Review ☔ (Aug 26 - Aug 31)
Week in Review ☔ (Aug 26 - Aug 31)
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
Uber to bring ‘Black’ back in big premiumisation push
India launches first reusable hybrid rocket RHUMI-1
PhonePe posts 74% jump in FY24 revenue to Rs 5,064 crore
BigBasket set to fully play in quick commerce league
Airtel to shut down music streaming app Wynk Music
Zomato to allow reselling of event tickets bought from its app
Amazon India to enter quick commerce
Zerodha eyes greater synergies between trading, wealth management apps
Zepto raises $340 Mn at $5 Bn valuation
Google DeepMind's Morni AI to cover 125 Indic languages
Zoho launches payment gateway for businesses
Let’s move on to the top funding deals from the week.
Funding Deals
Quick commerce company Zepto has raised $340 million in a follow-on financing round led by General Catalyst, with Dragon Fund and Epiq Capital joining as new investors.
Post-sales service firm Servify has raised Rs 84 crore ($10 million approximately) in a fresh tranche of a Series D round from Bajaj Holdings, Trifecta, and Innoven Capital in a mix of equity and debt.
Beauty and personal care D2C firm Pilgrim has raised Rs 75 crore (approximately $9 million) in its extended Series B round led by Fireside and Vertex Ventures.
Aroa Venture Partners has received Rs 40 crore ($4.8 million) capital commitment from Small Industries Development Bank of India (SIDBI) under the Government of India’s Fund of Funds for Startups and the Uttar Pradesh Government’s UP Startup Fund schemes.
Legends League Cricket (LLC), the cricket league featuring senior cricketers, has raised Rs 39 crore from Brickwork at the valuation of Rs 350 crore.
HouseEazy, an online marketplace for pre-owned homes, has raised Rs 33.5 crore (around $4 million) in Series A led by Chiratae Ventures Fund with participation from Veena Jindal, Antler Innovation Fund, and IA Growth Opportunities Fund.
Mortgage brand LoanKuber, which operates Janasha Finance, has raised $3.5 million in a pre-Series B round led by Singapore-based TRTL VC and existing backer Inflection Point Ventures.
Ben & Gaws Private Limited, which runs the manufacturing tech startup Fabrication Bazar, has raised $3 million in its pre-Series A round led by Physis Capital. The round also saw participation from Japan-based Venture Capital ICMG and existing investor Inflection Point Ventures.
Robotics firm Miko, a product of Emotix, has raised Rs 20.5 crore (approximately $2.5 million) in a new round from a group of angel investors. Moneycrew Fintech injected Rs 4.5 crore while the rest of the sum was poured in by angel investors including Amrapali B Doshi, Sanjiv Sarita, Amit Jain, Satyam Sinha, Inderjit Kaur Arora, and others.
Bengaluru-based biotechnology firm Cambrian Bioworks has secured $1.45 million in its seed round led by the Irani family office, which has invested in several private ventures across the globe. The round also saw participation from the company’s CEO and co-founder, Vaibhav Hegde.
Gurugram-based femtech startup Laiqa Wellness has raised Rs 15 crore in its seed round from IvyCap Ventures.
Luxury student housing brand The Hive Hostels, which operates in over 10 cities across India, has completed a pre-IPO funding round, securing ₹11.5 crore investments from angel investor Ritesh Malik and Ankit Mittal and his family office Sixth Sense Ventures Partners also contributed to the funding round, among others.
Serigen Mediproducts, a biomedical product manufacturing company has raised ₹10 crores from IAN Alpha Fund and Colossa Ventures, along with existing and new 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! 💡
