Week in Review🌦️ (July 22 - July 27)
Week in Review🌦️ (July 22 - July 27)
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
Amazon in deal talks with Swiggy for quick commerce business Instamart
Crypto platform WazirX offers $23 million bounty to recover stolen assets worth $234 million
Out of 1.25 lakh DPIIT-recognised startups, over 13,000 are in AI, IoT, robotics & nanotech: Economic Survey
Rs 1,000 crore VC fund to bolster space sector; industry welcomes move
TDS for ecommerce operators cut to 0.1% from 1%
Cred to help customers track bank accounts
FAAD Capital invests four agritech startups through AgriManch accelerator
Agri Stack to cover six crore farmers by end of the year
OpenAI takes on Google, with new AI-powered search engine ‘SearchGPT’
Insurtech startup Covrzy gets broking license from IRDAI
Let’s move on to the top funding deals from the week.
Funding Deals
Tekion, the SaaS unicorn startup focused on the automotive retail industry, has raised $200 million in growth equity capital from Dragoneer Investment Group at a valuation of over $4 billion.
Unimech Aerospace has raised Rs 250 crore ($30 million) from Steadview Capital Mauritius Limited, ValueQuest Scale Fund, and Evolvence India Fund IV Ltd as a part of its private placement round.
Lenskart co-founders Peyush Bansal and Neha Bansal, along with co-founders Amit Choudhary and Sumeet Kapahi, have injected $19.12 million into the company.
Fast fashion retailer NEWME raised $18 million in series A funding in an equity round led by Accel, along with participation from existing investors Fireside Ventures and AUM Ventures.
Commercial drone solutions startup Aereo secures $15M in Series B funding round.
Wealthtech startup Stable Money raised over Rs 123 crore nearly $15 million in a new round from RTP Capital, Lightspeed India, and Matrix Partner.
Education-focused non-banking financial corporation (NBFC) Auxilo has secured Rs 100 crore (approximately $12 million) in a debt financing round. Dezerv Securities pumped in Rs 26.39 crore while MAS Financial Services and CredAvenue Securities (Yubi) participated with Rs 25 crore each.
Workspace solution provider Incuspaze has raised around $8 million led by the India Inflection Opportunity Fund (IIOF) and other financial institutions in its maiden funding round.
Nasher Miles, a digital-first luggage brand, has raised $4 million in its bridge round to Series A from Singularity Early Opportunities Fund, Narendra Rathi (SoftBank Vision Fund), Sulabh Arya (Goldman Sachs Growth Equity) and Mohit Goyal (CVC Capital Partners) amongst others.
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! 💡
