Week in Review 🎀(Jan 06 - Jan 11)
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
Hindustan Unilever in talks to acquire Minimalist for Rs 3,000 Cr
SBI launches online onboarding process for NRIs to open NRE, NRO accounts
Foxconn Q4 revenue hits $64.72 billion; beats estimates over high AI server demand
Sachin Bansal in talks to sell $100 million investment in Ola at a premium
BluSmart launches invite-based service in Mumbai
Swiggy launches standalone app Snacc for 15-minute food delivery
Microsoft announces $3 billion investment in India, to train 10 million in AI skills
Zomato launches 15-minute food delivery offering
D2C beauty company Wow seeks strategic buyer at $250 million valuation
Ecommerce steps up quick commerce play as Amazon tests Tez with staff, Flipkart boosts Minutes
Adani Ports ranks among top 10 firms in S&P Global’s corporate sustainability list 2024
Zerodha’s Rainmatter invested Rs 275 crore in 2024 across climate, health startups: Nithin Kamath
Restaurants up in arms against Swiggy, Zomato’s 10-minute apps
TCS Q3 Results: Profit rises 12% YoY to Rs 12,380 crore, in-line with estimates
Let’s move on to the top funding deals from the week.
Funding Deals
Healthcare AI company Innovaccer Inc. has raised $275 million in a Series F funding round comprising primary and secondary investments. The round included B Capital Group, Banner Health, Danaher Ventures LLC, Generation Investment Management, Kaiser Permanente, and M12 participation.
Hospitality major Oyo has raised Rs 550 crore (approximately $65 million) from Redsprig Innovation Partners, an affiliated entity of the company’s founder Ritesh Agarwal.
Infinity Fincorp Solutions, an RBI-registered non-banking financial company (NBFC), has raised $35 million from marquee investor Jungle Ventures, with participation from Archerman Capital and Magnifico.
Nutraceutical firm Botanic Healthcare raised Rs 250 crore (about $30 million) in equity financing in a round led by Stakeboat Capital. Co-investors Abakkus Four2Eight Opportunities Fund and DS Group, one of Stakeboat Capital's LPs, participated.
B2B food and agritech platform Waycool raises Rs 110 crore (approximately $13 million) in debt from Grand Anicut.
Education loans-focused fintech startup GrayQuest has secured Rs 80 crore ($9.3 million) in its Series B equity funding round from IIFL Fintech Fund, Claypond Capital (Family Office of Ranjan Pai), and existing investor Pravega Ventures.
Security and surveillance solution provider Vehant Technologies has raised $9 million (around Rs 75 crore) in a mezzanine round from True North's private credit fund.
Mintoak, a SaaS platform serving banks and merchant acquirers, has raised Rs 71 crore in a secondary funding round. The round saw early-growth investor Z3Partners acquire a minority stake from some of Mintoak's initial institutional investors.
Kerala-based banana chips brand Beyond Snack has raised $8.3 million in its Series A funding round led by 12 Flags Group, a consumer business-focused fund established by Rakesh Kapoor, the former global CEO of Reckitt Benckiser.
Gruhas-backed energy tech startup Emo Energy has raised $6.2 million in an equity funding round led by Subhkam Ventures. The round also saw participation from new and existing investors such as Microtek Group, SRK Family Office, and Transition VC.
Electric motorcycle manufacturer Oben Electric has raised Rs 50 crore ($6 million) in a Series A funding round from Ambis Holding US, Kuberan Ventures, Karimjee Group, Mission Vertical, Sanjeev Saraf (Polyplex) Family Office, Pravek Kalp Family Office, and other existing investors.
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! 💡
