Week in Review 📜 (Feb 26 - Mar 02)
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
Tata Electric Vehicle Unit eyes $1-2 billion IPO in FY25-26, says report
Kalaido.ai paints a pretty picture from local language text prompts
Adani is in talks with Uber to own, and operate an EV fleet
Ola founder Bhavish Aggarwal's Krutrim launches AI chatbot in beta mode
Nita Ambani likely to Chair Reliance-Disney India media merger, says report
India's AI market set to grow at 25% CAGR until 2027: Report
Koo says in talks for strategic partnership as Dailyhunt eyes acquisition
Zepto rolls out subscription service, fuels competition in quick commerce market
Cabinet greenlights Tata’s Rs 91,000-crore semiconductor foundry proposal
Paytm discontinues inter-company agreements with Paytm Payments Bank
Let’s move on to the top funding deals from the week.
Funding Deals
Logistics company Shadowfax announced the closing of its Series E funding round at $100 million.
Private equity firm Lighthouse, which has backed consumer brands such as Bikaji Foods, Wow Momos, and Nykaa, has invested Rs 284 crore (around $34 million) in fashion and silver jewelry brand Kushal’s.
Generic medicine startup Zeno Health, formerly Generico, has secured $25 million in funding led by Korean private equity investor STIC Investments.
Merchant-focused payments company, Mswipe Technologies has raised $20 million in growth capital from its existing investors led by Alpha Wave Global.
Direct-to-consumer (D2C) luggage brand Mokobara has raised $12 million or Rs 100 crore in a Series B funding round led by Peak XV Partners (formerly Sequoia Capital India).
Health and wellness platform Cult.fit (formerly Cure.fit) has scooped Rs 84.5 crore or $10.2 million in an extended Series F round led by existing backer Valecha Investments.
Fintech startup CredAble has raised $10 million in a new round from Singapore-based Equentia Natural Resources.
Bengaluru-based Blume Ventures has invested its largest maiden cheque of $10 million into Upward & Onward, a company that runs software- and artificial intelligence-linked upskilling platform Interview Kickstart.
InSolare, a leading renewables EPC company dedicated to customer-centric and technology-driven solutions, has raised Rs 66 crore (approximately $8 million) in a growth funding round led by Negen Capital. Mukul Mahavir Aggarwal, Anchorage Capital Fund and Ankit Mittal, Khazana Tradelink also participated in the round.
Mobility platform IntrCity, which owns SmartBus and RailYatri, has raised Rs 37 crore (approximately $4.5 million) more in its Series C round.
Silence Laboratories, which builds products to help enterprises and companies ensure data privacy through technologies like multiparty computation (MPC), has raised $4.1 million in a funding round.
Nanotechnology startup Chiral has raised $3.8 million in its pre-seed round co-led by Founderful (formerly Wingman Ventures) and HCVC and includes grants from ETH Zurich and Venture Kick.
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!💡
