Week in Review 🎁 (Jan 8 - Jan 13)
Week in Review 🎁 (Jan 8 - Jan 13)
Tech highlights of the week: Startups thrive, giants strategize. Gear up for more tech wonders next week with Rise & Shine!
Hey there, Rise & Shiners! 🌟
As we stride into the second week of 2024, it's time to unwrap the tech tales that colored the canvas of the past seven days. 🎨✨
Hold onto your seats because the Indian startup ecosystem took center stage, with a whopping 27 startups securing substantial investments! 💰
It's a symphony of innovation, ambition, and investment, making waves and setting the stage for what promises to be an electrifying year.
Buckle up, readers! It's been a whirlwind of growth, innovation, and strategic moves.
Dive into the details, embrace the tech magic, and let's ride this wave of excitement together! 🌊🚀
Quick Recap of the Week
Flipkart may trim rolls by up to 7% in yearly refocus
Qualcomm India to invest ₹177.27 cr for new design centre
Uber India sees revenue climb 54% to Rs 2,666 crore
Apple's India crop gets a boost in 2023, produces Rs 1 lakh crore iPhones
Tata Power unveils ₹70,000-crore green energy push in Tamil Nadu
Gruhas Collective Fund has Rs 150 crore for consumer startups
Netflix India FY23 revenue jumps 24%, profit soars 75%
BlackRock slashes Byju’s valuation to $1 billion, down 95% from $22 billion, says report
Nifty IT Index up 4%, hits 52-week high; Infosys rises 6%, TCS 3%
Let’s move on to the top funding deals from the week.
Funding Deals
Bengaluru-based Retail SaaS startup Impact Analytics has closed $40 million in growth financing. This funding round was led by Sageview Capital with support from long-time partner Vistara Growth.
Direct-to-consumer (D2C) fresh foods brand Country Delight has raised around $20 million (around Rs 164 crore) in a funding round led by Singapore’s sovereign fund Temasek, which is one of its backers.
MakeO, the parent of dental tech startup Toothsi and skincare brand Skinnsi, has raised $16 million in a funding round led by 360 ONE Asset and the investment office of Ashish Kacholia. Existing investors Eight Roads Ventures, Paramark Ventures, and the family office of Medlife’s co-founders also joined the round.
Organic dairy startup Akshayakalpa Organic has raised Rs 100 crore or $12 million in its Series C round led by A91 Partners.
Alternative investment platform Grip Invest has raised $10 million, in a mix of equity and debt, led by Stride Ventures, as part of its latest funding.
Healthcare startup CureBay has raised around Rs 62 crore in a funding round led by existing investor Elevar Equity.
Children-focused snacking and meal brand Slurrp Farm, has raised Rs 59.9 crore ( $7.2 million approximately) in a fresh round of investment from new and existing investors.
Edtech company ConveGenius has raised $7 million (about Rs 58 crore) in a Series A round co-led by UBS Optimus Foundation and Mount Judi Ventures.
Karkhana.io, a custom manufacturing platform for manufacturing MSMEs, has raised $6.3 million in its Series A round led by Arkam Ventures and Susquehanna Asia Venture Capital.
PierSight, a satellite-based surveillance provider for the maritime industry, today announced the closing of a $6 million seed funding round co-led by Alpha Wave Ventures and Elevation Capital with participation from existing backer Techstars.
Insurtech startup Riskcovry has raised around $4.5 million in a bridge round of funding led by Dubai-based business-to-business fund Morphosis Venture Capital. Indian financial services player IIFL also participated in this round.
Mental health startup Amaha (formerly InnerHour) has raised $4.4 million in funding from Fireside Ventures in an extended Series A round.
That wraps our tech-tastic week!
From startups' funding spree to tech giants' strategic leaps, we've surfed a wave of innovation.
As we step into the upcoming week, let's carry the momentum forward.
Embrace the challenges, celebrate the victories, and stay tuned for more tech wonders with Rise & Shine. Your dose of innovation, inspiration, and insights continues, and we can't wait to explore the tech landscape together in the days to come.
Keep shining bright, and here's to another week of possibilities, growth, and the magic that unfolds when we rise together! 🚀🌟
