Week in Review 🗞️(Feb 19 - Feb 24)
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
Paytm Gets New Banking Partner To Continue Seamless Transactions
After Sam Altman, SoftBank founder Masayoshi Son joins AI chip race to challenge Nvidia's dominance
India's first spy satellite made by Tata set for SpaceX liftoff
Amazon set to launch Meesho competitor Bazaar in fight for value customers
Paytm shares hit the upper circuit for the third straight session
Pocket FM to invest $40 million in online reading platform
PhonePe launches Indus Appstore to rival Google Play Store in India
BluSmart signs deal with Tata Power; moves to solar for EV charging needs
Jio Financial Services’ share price jumps 14% to a record high; market cap crosses ₹2 lakh crore
RBI pushing UPI-like credit platform for farmers, MSMEs
Google to make Pixel smartphones in India by next quarter: report
🌟 Calling All Rise & Shiners in Bangalore! 🌟
Hey Bangalore readers!
I'm in town and would love to meet you in person. Let's connect over coffee and chat about all things Rise & Shine! 🚀✨
Let’s move on to the top funding deals from the week.
Funding Deals
Rentomojo has secured an investment of Rs 210 crore (approximately $25 million) in its ongoing Series D and D1 round led by Edelweiss Discovery Fund Series – I.
Jungle Ventures has invested $20 million in Walko Food, an ice cream brand and quick-service restaurant company.
Yulu, an electric two-wheeler company, has raised $19.25 million (about Rs 160 crore) in equity funding from existing investors Magna and Bajaj Auto Ltd.
EV financing and vehicle lifecycle management platform Vidyut has raised $10 million in its Series A round led by 3one4 Capital.
Climate tech startup Varaha has raised $8.7 million as a part of its latest funding round led by RTP Global.
Hyderabad-based EV2W OEM PURE EV has raised $8 million from a clutch of investors. The funding was led by Bennett Coleman and Company Limited, etc. (check the report below 👇🏻)🤗
Pratech Brands, a digital-first retailer and parent entity of HyugaLife, has raised Rs 52 crore or $6.3 million in a seed funding round led by Spring Marketing Capital and Stride Ventures.
Education-focused NBFC Auxilo has raised Rs 50 crore (approximately $6 million) in non-convertible debt from AK Capital Finance.
Food tech platform Ghost Kitchens India has raised $5 million in its Series A round, a mix of equity and debt. The round was led by GVFL Limited with participation from NB Ventures, LetsVenture, and Lead Angels. Existing investors Yuj Ventures, Dholakia Ventures, and actor Rana Daggubati also participated in this round.
Digital banking infrastructure provider Signzy has acquired Bengaluru-based Difenz, a fraud risk management solutions provider, in a cash-and-equity deal at a valuation of $5 million.
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!💡
