Week in Review🦌 (July 15 - July 20)
Ready to explore the latest in tech? This Week in Review brings you a whirlwind of innovation and funding successes – your front-row seat to what's next! 🎉
Hey there, Rise & Shine fam!
Get ready for a journey through the latest tech wonders and funding victories.
Join us as we explore groundbreaking updates and celebrate our shared passion for growth and innovation.
Let's dive into the tech marvels that dominated the headlines:
Quick Recap of the Week
Flipkart eyes 100 dark stores before its BigBillionDays sale
Zomato, Swiggy hiked platform fee by 20% to Rs 6 per order
Mutual funds and retail investors increase stake in Paytm
Deepinder Goyal enters the billionaire club as his holding in Zomato crosses $1 Bn worth
IPO-bound Swiggy to facilitate $65 million Esop sale for employees
LinkedIn to launch video offerings in India
Ola Electric IPO set to ride in at lower price tag
Over 1.5 million developers use Gemini globally, India among the largest: Google Deepmind
Karnataka govt puts job reservation bill on hold post uproar
Nazara’s subsidiaries receive Rs 1,120 Cr GST notice
Let’s move on to the top funding deals from the week.
Funding Deals
Auxilo Finserve, an education-focused NBFC, has raised $30 million from LeapFrog Investments through its investment vehicle Jade Inclusion Ltd.
BlackSoil NBFC, the flagship arm of BlackSoil Group, has raised Rs 208 crore debt. The round witnessed participation from HNIs, UHNIs, Family Offices, banks, and NBFCs.
BluSmart, a ride-hailing startup that uses only electric vehicles, has raised $24 million, or Rs 200 crore, in a funding round led by its existing investors Zurich-based climate finance firm ResponsAbility Investments, cricketer MS Dhoni’s Family Office, and ReNew founder Sumant Sinha.
Eyewear retailer Lenskart has raised nearly $20 million from its co-founders Peyush Bansal, Neha Bansal, Amit Choudhary and Sumeet Kapahi.
Gen-z focused fast fashion brand Newme has raised $18 million in its Series A round led by Accel with participation from existing investors including Fireside Ventures and AUM Ventures.
Commercial drone solutions startup Aereo has secured $15 million in a Series B funding round led by 360 ONE Asset.
Artificial intelligence startup UptimeAI has raised $14 million in its Series A funding round led by WestBridge Capital.
Moving Tech, the company that operates community-led mobility apps Namma Yatri, Yatri Sathi, Yatri, and Mana Yatri, has raised $11 million (Rs 92 crore approximately) in a pre-Series A funding round from Blume Ventures and Antler, Google and other investors.
Non-banking financial company (NBFC) Seeds Fincap has raised over $8.5 million in a Series A funding round led by Lok Capital and Z47 (formerly Matrix Partners India).
Consumer lighting startup Corvi LED has raised $8 million (Rs 65.6 crore) as part of its Series B funding round from Enam Investments.
Consumer lending and payments startup Slice has raised Rs 65 crore (nearly $8 million) in debt from Neo Markets.
byteXL, an edtech platform focused on engineering education, has raised $5.9 million in its Series A round led by Kalaari Capital, along with Michael and Susan Dell Foundation.
Watertech startup Boon has raised $5 million in a funding round led by Spanish Roca Group Ventures, its first investment in India. The fundraise was a mix of equity and debt.
Noida-based multi-category biscuit manufacturer Nurture Well confirmed the closure of the private placement round, with India Inflection Opportunity Fund (IIOF) investing Rs 50 crore in the company.
As we wrap up this edition, let's reaffirm our commitment to positivity, resilience, and seizing every opportunity that comes our way.
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! 💡
