Week in Review 🎪 (Feb 05 - Feb 10)
Week in Review 🎪 (Feb 05 - Feb 10)
Dive into a whirlwind of innovation! This Week in Review unfolds a symphony of tech marvels and funding triumphs – your front-row seat to the future of possibilities.
Hey Rise & Shiners! 🌟
From groundbreaking tech updates that promise to reshape our digital landscape to the dynamic pulse of funding deals, this edition is your passport to the cutting edge.
Let's dive into the tech marvels that dominated the headlines:
Quick Recap of the Week
Byju's pauses deal with footballer Lionel Messi
Adani Total Gas partners with INOX India to boost India's LNG ecosystem
Ola’s valuation slashed by 29% to below $2 billion
Cred enters wealth management with the acquisition of Kuvera
SoftBank-backed Juspay acquires LotusPay
OneVerse acquires Spartan Poker for an undisclosed amount
Nykaa Q3 net profit doubles to Rs 17 crore; revenue up 22% YoY
Microsoft to train two million people in India with AI skills: Satya Nadella
Meesho launches logistics marketplace Valmo
Zomato profit jumps nearly fourfold QoQ to Rs 138 crore
Let’s move on to the top funding deals from the week.
Funding Deals
Electric vehicle manufacturer River has raised $40 million in a Series B funding round led by Yamaha.
E-commerce roll-up firm GlobalBees has raised Rs 150 crore or $18 million in a debt round from Avendus.
Electric Vehicle financing platform Mufin Green Finance has raised Rs 140 crore (approximately $17 million) in Series B equity funding round.
Smart home automation company Keus has raised Rs 100 crore ($12 million) in its first external round led by private equity player OAKS Asset Management.
Two-wheeler electric vehicle finance platform OTO has raised $10 million led by GMO Venture Partners and saw participation from Turbostart, Indian cricketer KL Rahul, and a few other family offices.
Onsitego, an after-sale service provider to consumer devices, has acquired Qdigi Services, a subsidiary of Quess Corp, in a transaction valued at Rs 80 crore.
AI SaaS startup Attentive Inc. has raised $7 million in its Series A round led by Vertex Ventures Southeast Asia and India, with participation from existing investors Peak XV Partners and InfoEdge Ventures.
Office space provider DevX has raised $7 million in equity and debt rounds. Family offices such as the Urmin family office, Gala family office, and Bidiwala family office participated in the equity round, along with HNIs like Ajay Patel, Mitesh Patel, and Soham Mehta.
Creator-focused commerce startup Wishlink has raised $7 million from The Fundamentum Partnership Fund and Elevation Capital.
VerSe Innovation, the parent company of vernacular news aggregator Dailyhunt, has raised $6.25 million in debt from Alteria Capital.
Metafin, a cleantech-focused NBFC, has raised $5 million in equity funding led by Prime Venture Partners and Varanium Capital.
Titan Capital-backed startup Khyaal, which focuses on services for senior citizens, has raised $4.2 million in a funding round co-led by 62 Ventures, SVQuad, and early-stage venture capital firm Inventus Capital Partners.
Upliance AI, a consumer hardware startup that manufactures and sells kitchen appliances, has raised Rs 34 crore (around $4 million) at a valuation of Rs 143 crore ($17 million) in a round led by early-stage venture capital firm Khosla Ventures.
Supply chain financing platform Cashinvoice has closed $3.4 million as part of a Series A round from institutional investors comprising Pravega Ventures, HDFC Bank, and existing investor Accion Venture Lab.
Premium renewed smartphone brand ControlZ has raised $3 million in its seed round co-led by 9 Unicorn and Venture Catalysts.
Snap-E Cabs, an EV Ride-hailing platform, has raised $2.5 million in a Pre-Series A funding round led by Inflection Point Ventures.
Deeptech startup Algorithmic Biologics (AlgoBio) has raised $2.5 million in its pre-series A round led by the Bharat Innovation Fund (BIF). The round also saw participation from Axilor Ventures.
As we close this edition, let's remind ourselves to stay positive, be resilient, and eagerly embrace the opportunities that lie ahead.
The tech world is a canvas of endless possibilities – let's paint it with optimism and innovation.
Here's to Rising & Shining Together!💡
