Week in Review 🍉 (Feb 03 - Feb 08)
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
UPI transactions near 17 Bn in January
Paytm Cloud to acquire 25% stake in Delaware-based Seven Tech
Ola Electric back on top with 25% EV 2W market share in January
Shein returns to India via Reliance Retail partnership
Lokal launches Dostt, Eaze and Gyan TV; plans 40 more apps
OYO to invest over Rs 530 Cr in UK’s premium properties
Bhavish Aggarwal launches Krutrim AI Labs with Rs 2,000 Cr investment
OpenAI, Kakao to jointly develop AI products for South Korea
India should develop the full stack of AI; want to partner, invest here: OpenAI CEO Sam Altman
Flipkart Minutes eyes 550 dark stores before ‘Big Billion Days’
Zomato changes parent company name to Eternal; will house Blinkit, others
Titan's TEAL bets big on semiconductor & aerospace exports
Let’s move on to the top funding deals from the week.
Funding Deals
Online fashion retailer Myntra has received an $81 million capital infusion from its parent Flipkart.
Captain Fresh, a seafood supply chain, has raised Rs 250 crore (approximately $30 million) in its ongoing pre-IPO funding round. Prosus Ventures, Accel, and Tiger Global led the round, while the family office of Sriharsha Majety, co-founder of Swiggy; Sid Khanna, chairman of India Equity Partners; Sunjay Kapur, chairman of Sona Comstar; Shivalik Prints, a textile and apparel manufacturer supplying global retailers; and multiple others participated.
TrueFoundry, an AI deployment and scaling platform, has raised $19 million in Series A funding, led by Intel Capital. Existing investors Eniac Ventures and Peak XV’s Surge, along with new investor Jump Capital and several angel investors, including Gokul Rajaram, Mohit Aron, Cyan Banister, and executives from Fortune 1000 companies, also participated.
Enterprise AI startup Cognida.ai has raised $15 million in a Series A funding round led by Nexus Venture Partners.
Direct-to-consumer (D2C) hair extensions and wig brand HairOriginals has raised $5 million (Rs 43.5 crore) in its Series A round, which was co-led by Anicut Growth Fund and 12 Flags Consumer Holdings. Lenskart co-founder and CEO Peyush Bansal also participated in the round.
Women’s wellness and hygiene brand Nua has raised ₹35 crore in a pre series C round led by Mirabilis Investment Trust. The round also saw participation from distinguished investors including Samir Singh, EVP - Asia, Colgate Palmolive & Former Chair of Unilever SE Asia, Shuchi Kothari, Head of DSP Family Office and SRF Limited.
D2C wellness startup Scentials has raised Rs 34.6 crore (approximately $4 million) in a mix of debt and equity led by Indus Way Emerging Market Fund with the participation of TIW Private Equity.
Battery technology startup Dreamfly Innovations has raised Rs 12 crore in its seed round led by Avaana Capital, with participation from Sunicon Ventures and other existing investors.
Foodtech startup Mealawe has raised $1 million in funding from a mix of Foreign Direct Investment (FDI), a network of Shark Tank founders, and angel investors associated with companies such as Goldman Sachs and Oracle.
Fitspire, a family health nutrition and protein supplements brand, has secured $1 million in a bridge round for Series A preparation led by McDonald's India (North and East) Promoter Anant Agarwal, MM Agrawal Group (MMG), along with angel investors from AKG financials at a valuation of more than Rs 100 crore (over $12 million).
As we wrap up this edition, let's reaffirm our commitment to positivity, resilience, and seizing every opportunity.
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! 💡
