Week in Review 🎯(Mar 11 - Mar 16)
Dive into a whirlwind of innovation! This Week in Review unfolds a symphony of tech marvels and funding triumphs – your front-row seat to the future of possibilities.
Hey Rise & Shiners! 🌟
From groundbreaking tech updates that promise to reshape our digital landscape to the dynamic pulse of funding deals, this edition is your passport to the cutting edge.
Let's dive into the tech marvels that dominated the headlines:
Quick Recap of the Week
Reddit looking to raise $748 million from the sale of 22 million shares in IPO, eyeing $6.5 billion valuation
Binny Bansal’s Three State Ventures funds new startup OppDoor
Meet India’s own ChatGPT-style AI model Hanooman
Ola Electric plans e-autorickshaw launch ahead of IPO
Bitcoin hits all-time high amid ETF demand
Reliance to buy Paramount Global’s 13% stake in Viacom18 for ₹4,286 crore
Perfios secures $80 million from TVG, attains unicorn valuation
Nazara sets aside $100 million for M&As
Meesho announces its largest Esop buyback, worth $25 million
Centre announces new scheme to subsidise electric two- and three-wheelers
Let’s move on to the top funding deals from the week.
Funding Deals
Battery tech startup LOHUM has raised $54 million in a Series B funding from Singularity Growth, Baring Private Equity, Cactus Venture Partners, and Venture East among other new and existing venture firms.
Healthcare-based data intelligence platform HiLabs has raised $39 million as part of its latest funding round led by Eight Roads Ventures and Denali Growth Partners.
AI-based document workflow automation platform Nanonets has raised $29 million in a funding round led by Accel.
CureSkin, a beauty and personal care brand, has raised $20 million in a Series B funding round led by Healthquad. The round also saw participation from JSW Ventures, Khosla Ventures, and Sharrp Ventures.
Edtech platform PlanetSpark has raised Rs 141.8 crore or $17 million in an extended Series B round led by Prime Venture Partners via Seabright. The round also saw the participation of InnoVen Capital, Alteria Capital, myPat, GGT3 Ventures, Ashish Gupta, and IAN Investors.
Alternative credit platform BlackSoil, the flagship arm of BlackSoil Group, has raised Rs 100 crore in equity funding through a rights issue, with participation from its existing Indian investors and family offices.
Gurugram-based debt relief startup Freed has raised $7.5 million in a fresh funding round. The round was led by Sanjay Nayar-backed Sorin Investments and early-stage venture fund Multiply Ventures, with participation from Piper Serica Fund and a few others.
RapidCanvas, an auto artificial intelligence (AI) platform built for businesses, has raised $7.5 million in a funding round led by Accel, with participation from Valley Capital Partners.
Energy-tech firm Kimbal Technologies has raised $5 million in funding, led by investment advisory firm Niveshaay with investors like Ayush Mittal, promoter of Mittal Analytics, and Sandeep Kapadia among others.
As we close this edition, 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!💡
