Week in Review ๐ (Feb 10 - Feb 15)
Catch up on the week's biggest tech advances and funding milestones โ your ultimate guide to whatโs new and noteworthy!
Hey, Rise & Shine family!
Get set to dive into this weekโs tech marvels and funding triumphs.
Letโs 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 โน6,000 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
Nykaaโs 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 Consumerโs Q3 profit flat at Rs 26 crore; revenue up 6% YoY
India may become Canvaโs biggest market in 3-5 years: Cofounder Cameron Adams
Nikhil Kamath announces second cohort of WTFund
Letโs move on to the top funding deals from the week.
Funding Deals
Startupย EnCharge AI raised more than $100 millionย 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 firmโs 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 ๏ปฟ75F๏ปฟ 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 firmย 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 makerย The Whole Truth raised Rs 133 croreย 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 XVโs 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! ๐ก
