Week in Review 🛕 (Jan 22 - Jan 27)
Tech highlights of the week: Startups thrive, giants strategize. Gear up for more tech wonders with Rise & Shine!
Hey Rise & Shiners! 🌟
As we navigate through the fourth week of 2024, our tech landscape is buzzing with excitement and innovation.
In this edition, we're thrilled to unveil not just funding updates but a cascade of transformative tech revelations that are reshaping our digital horizon.
From groundbreaking acquisitions to game-changing developments, our tech universe is pulsating with energy.
Let's dive into the tech marvels that dominated the headlines:
Quick Recap of the Week
Ram Mandir: Ayodhya puts spiritual apps on a growth curve
Sony Group terminates merger with Zee Entertainment
Ram temple effect: quick-commerce apps cash in on demand for religious items
Paytm surpasses 100 million monthly transacting users for the first time in Q3 FY24
Netflix secures $5 billion deal to exclusively livestream WWE's Raw
Byju’s losses at Rs 8,245 crore; evaluate rights issue at as low as $500 million valuation
Azim Premji gifts Wipro shares worth Rs 500 crore to sons Rishad and Tariq
Groww to discontinue US stock trading services on trading app
SoftBank offloads another 2% stake in Paytm
Zomato, Stripe secure final RBI nod for online payment aggregator
Let’s move on to the top funding deals from the week.
Funding Deals
Non-banking finance company (NBFC) Namdev Finvest has secured $15 million in its Series B funding round co-led by British International Investment (BII), LC Nueva AIF (LC) and existing investor Incofin India Progress Fund.
Ecofy, a Non-Banking Financial Company (NBFC) dedicated to the last mile climate finance, has raised Rs 90 crore from FMO, the Dutch Entrepreneurial development bank.
AquaExchange, an IoT solutions provider to aquaculture farmers, has raised $6 million in a Series A funding round led by Ocean 14 Capital.
NODWIN Gaming will acquire 100% of the shares of Comic Con India at a valuation of Rs 55 crore through a combination of cash and share swap from the co-founders of Comic Con India – Jatin Varma and Karan Kalra.
Genz-focused fast fashion brand Newme has raised $5.4 million (Rs 45 crore) in a seed funding round led by Fireside Ventures.
San Francisco and Bengaluru-based AI startup RagaAI has raised $4.7 million in seed funding led by Pi Ventures. Anorak Ventures, TenOneTen Ventures, Arka Ventures, Mana Ventures, and Exfinity Venture Partners, also participated in the round.
As we close this edition of "Rise & Shine," 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! 💡
