Week in Review 💞 (Feb 10 - Feb 15)
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
MTNL share price surges 10% on likely Cabinet nod to ₹6,000 crore package for 4G expansion
Oyo PAT rises nearly 6 times to Rs 166 crore in Q3
PhonePe hits 8 Bn UPI transactions in Jan; WhatsApp back in top 10
Nykaa’s Q3 net profit jumps 52% on festive sales boost
Yatra profit spikes 10X in Q3 FY25; revenue doubles
Elon Musk-led group offers $97.4 billion to buy Open AI
Rapido announces first ESOP liquidity program
Amazon joins quick commerce race, to focus on beauty and home next
India fastest growing in beauty e-commerce
Honasa Consumer’s Q3 profit flat at Rs 26 crore; revenue up 6% YoY
India may become Canva’s biggest market in 3-5 years: Cofounder Cameron Adams
Nikhil Kamath announces second cohort of WTFund
Let’s move on to the top funding deals from the week.
Funding Deals
Startup EnCharge AI raised more than $100 million in a Series B funding round led by Tiger Global. Its goal is to bring more efficient and less expensive AI chips to the market.
Bengaluru-based digital payments company ToneTag has secured $78 million in a fresh funding round from private equity fund ValueQuest Scale Fund and venture fund Iron Pillar.
SpotDraft, a contract lifecycle management (CLM) platform, has raised $54 million in its Series B funding round, which Vertex Growth Singapore and Trident Partners led. Xeed VC, Arkam Ventures, Prosus Ventures, and Premji Invest also participated in the firm’s new funding.
Modern banking tech company Zeta announced it has secured a $50 million investment from a strategic investor valuing it at $2 billion.
IoT and AI-driven commercial HVAC automation provider 75F raised $45 million in a Series B funding round led by Accurant International's Net Zero Alliance, with participation from Carrier Global Corporation, Climate Investment, Breakthrough Energy Ventures, Next47, and WIND Ventures.
Mobility firm Rapido is raising Rs 250 crore (around $29.7 million) from Prosus as part of Series E round.
Venture Capital firm Venturi Partners has invested $25 million in JQR (Just Quick Run), an affordable footwear brand. This marks JQR's first venture capital funding, and Venturi acquired an undisclosed minority stake.
Lucidity, a multi-cloud storage management platform, has raised $21 million in a Series A investment led by WestBridge Capital, with participation from existing investor Alpha Wave.
Healthy protein bar maker The Whole Truth raised Rs 133 crore in a Series C funding round led by Sofina Ventures. Existing investors Peak XV Partners, Matrix Partners, and Sauce.vc also participated in the round.
SaaS firm Nirmata raises $9.6 million from Peak XV’s Surge. The round also saw participation from Dallas Venture Capital, Dreamit, Z5 Capital and Uncorrelated Ventures.
Global workforce mobility platform BorderPlus has raised $7 million in funding, marking its first institutional investment round, led by Owl Ventures.
D2C sexual wellness startup Bold Care has raised $5 Mn (around INR 43 Cr) in its Series A funding round led by Zerodha's Rainmatter. The round also saw participation from CaratlLane founder Mithun Sacheti, Jaipur Diamond's Siddhartha Sacheti, Gruhas Collective Consumer Fund, Claris Capital, among others.
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! 💡
