Week in Review💛 (May 13 - May 18)
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 on this journey 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
Homegrown GenAI Chatbot ‘Hanooman’ Goes Live In 98 Languages
Zomato, Swiggy Instamart clock record orders on Mother's Day, beat New Year's Eve numbers
OpenAI launches new ‘GPT-4o’ AI model for all ChatGPT users
NeoFinity Launches NFC Tag To Disrupt Contactless Digital Payments
Zomato posts Rs 175 Cr PAT in Q4 FY24, revenue grows 8.3%
Amazon pumps Rs 1,660 crore into India marketplace entity
ChrysCapital invests $100 million in eyecare chain Centre for Sight
Uber gets the nod to run bus service in NCR
AWS makes Amazon Bedrock available for developers in India
Porter quietly turns unicorn, closes internal round at $1 billion valuation
Online platforms take to gamification to boost user engagement
Let’s move on to the top funding deals from the week.
Funding Deals
Meesho, an e-commerce start-up raised $275 million from existing investors like SoftBank, Prosus, Elevation Capital, and Peak XV Partners, as per regulatory filings with the Securities and Exchange Commission (SEC).
Battery tech startup Battery Smart has raised $45 million in a new round from investors including Acacia Inclusion Limited, MUFG Bank, Blume Ventures, The Ecosystem Integrity Fund, and British International Investment.
EV charging infrastructure company Relux Electric has raised Rs 250 crore from a group of private real estate and infrastructure investors on a revenue-sharing basis, without any equity dilution.
Education-focused fintech startup Propelld has raised a debt funding of $25 Mn (about Rs 208 Cr) for its non-banking financial company (NBFC) Edgro Finance. The round saw participation from nine lenders, including Credit Saison India, AU Small Finance Bank, InCred Financial Services, and Northern Arc Capital.
Red.Health, a medical emergency response startup that dispatches ambulances, has raised $20 million in its Series B funding in a mix of equity and debt. The investment was led by Jungle Ventures, with participation from Alteria Capital, HealthQuad and HealthX.
Agri solutions provider Coromandel International Limited has acquired a 7% stake in drone manufacturing company Dhaksha Unmanned Systems Private Limited for Rs 150 crore.
Agritech robotics firm Niqo Robotics (formerly TartanSense) has raised $13 million in a Series B round led by Brida Innovation Ventures. The round also saw significant investments from new investor Fulcrum Global Capital and existing investor Omnivore.
Online gold loan platform Rupeek has raised Rs 50 crore from 360 One Large Value Fund (formerly IIFL Wealth Management).
Celcius Logistics, a domestic aggregator providing end-to-end cold-chain solutions, has secured Rs 40 crore ($4.8 million) in a pre-series B round, led by existing investor IvyCap Ventures. Other investors include Mumbai Angels and Caret Capital.
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! 💡