Week in Review🏞️ (July 29 - Aug 3)
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
Ola Electric to launch IPO on August 2
Google partners with ElectricPe to bring EV charging stations to Google Maps in India
Rapido rolls into the unicorn club with $120 million from WestBridge
Amazon nears complete acquisition of Axio in all-cash deal
Indian space tech startups secured $126 million funding in 2023, up 7% from 2022: Report
FirstCry files RHP; logs 15% jump in revenue, losses down by 34%
PhysicsWallah launches Rs 250 Cr Scholarship Fund for JEE/NEET aspirants
Zomato Q1 profit jumps multifold to Rs 253 crore; revenue up 74% YoY
Zomato to launch District app for dining out, events, ticketing biz
Ola Electric's IPO receives $2 billion worth of bids from big institutions: Report
Let’s move on to the top funding deals from the week.
Funding Deals
Rapido has turned unicorn with a $120 million Series E funding round led by its largest backer WestBridge Capital.
Trade financing startup Vayana Network has raised Rs 170.8 crore (approximately $20.5 million) in its Series D round. SMBC Asia Rising Fund led the round with Rs 62.6 crore while Chiratae and IFC (International Finance Corporation) pumped in Rs 41.74 crore and Rs 24 crore, respectively. Jungle Leaders, Quantum-state investment fund, and Emerald cumulatively participated with Rs 42.4 crore.
Kinetic Green, the EV-making arm of Kinetic group, has raised Rs 168 crore or $20 million in equity and debt from Greater Pacific Capital.
Electric vehicle and clean energy startup Simple Energy has raised $20 million in its Series A funding round which saw participation from high-net-worth individuals (HNIs) from family offices like the Haran family office, Dr. A. Velumani’s family office, Vasavi family office, and the Desai Family office—promoter group of Apar Industries, among others.
Through non-convertible debentures, Fintech firm BharatPe has raised Rs 85 crore (approximately $10 million) in debt. Trifecta Venture debt pumped in Rs 50 crore while Innoven Capital participated with Rs 35 crore, shows filing.
Wedding services startup Meragi has raised $9.1 million in a funding round led by venture capital fund Accel. The round also saw participation from existing investors like Peak XV Partners and Venture Highway.
Scimplify, a platform for sourcing and manufacturing specialty chemicals, has raised Rs 59 crore (approximately $7 million) from new and existing investors in its Series A round.
Space technology startup GalaxEye has announced the first close of its fundraising round, raising $6.5 million led by Mela Ventures and Speciale Invest. The round also saw participation from ideaForge, with additional investments from Rainmatter, Navam Capital, Faad Capital, and Anicut Capital.
Jaipur-based insurance broking startup Square Insurance has secured $3 million in equity funding led by early-stage investor BizDateUp and angel funding platform Negen Capital.
Electric vehicle super-app ElectricPe has raised $3 million in pre-Series A round led by Green Frontier Capital along with participation from its existing investors Blume Ventures, Micelio Fund, and NB Ventures.
D2C haircare brand Moxie Beauty has raised Rs 17.3 crore or $2.1 million in a new round led by Fireside Ventures.
Rabbitt AI, a generative AI solutions firm, has raised $2.1 million in its seed round led by TechCurators and various angel investors.
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! 💡
