Week in review 🧾 (May 16 - May 21)
A quick rundown of the startups that made headlines this week. Funding and acquisitions in Indian startups this week.
1 Mail | 2 Minutes | 3 Stories
Want this in your inbox?
A Quick Recap of the Week
FirstCry halts IPO plans as volatility continues🧸
Swiggy acquires restaurant booking platform Dineout🍽️
Reliance Retail plans separate platform for third-party sellers🛍️
Navi Finserv set to raise Rs 600 crore from public bond sale💸
Mamaearth parent company acquires skincare brand Dr. Sheth’s👨🏻⚕️
Jack Ma exits Paytm Mall; sells 43% for ₹42 crores 👜
Twitter deal can’t go ahead without proof of fake accounts, warns Musk🙅🏻♂️
HDFC and HDFC Life buy stake in Xanadu Realty for an undisclosed sum🏗️
LIC falls on Day One, but market hopeful📊
Amazon will now help offline stores in India set up digital storefronts🛒
Fintech unicorn Slice launches UPI payments feature💳
PhonePe set to buy WealthDesk, OpenQ for $75 million💰
MakeMyTrip ties up with banks, NBFCs, fintech players for 'book now pay later' option✈️
Cars24 sacks 600 employees as startup layoffs continue🚨
'Plan For The Worst', Y Combinator tells startup founders as global markets go into a tailspin⚠️
Let’s move on to the top funding deals from the week.
Neso Brands, a roll-up subsidiary of unicorn eyewear retailer Lenskart, has raised $100 million from KKR, Softbank, Alpha Wave Global and Temasek in its seed funding round.
Smytten, a product sampling and engagement platform for direct-to-consumer brands, has raised Rs 100 crore (around $15 million) in its latest funding round led by its existing investors Fireside Ventures and Roots Ventures.
Fashinza, an AI-driven B2B marketplace and real-time global supply chain for fashion brands and retailers, has raised $100 million in Series B funding round led by Prosus Ventures and Westbridge.
D2C jewellery brand Melorra has raised $16 million in its Series D funding round led by Axis Growth Avenues AIF-I, SRF Family Office, N+1, and existing investors.
Cryptotech startup Coinshift has raised $15 million in Series A funding round led by Tiger Global and Sequoia Capital India.
BlissClub, a homegrown active life brand for women, has raised $15 million in its Series A round led by Eight Roads Ventures and Elevation Capital.
Warehouse robotics and automation company GreyOrange has raised $110 million from Peter Thiel’s Mithril Capital and other existing and new investors.
➡️ Check out our LinkedIn space for more on the funding deals.
Have a wonderful weekend!🥳
If you enjoy these emails, please tell a friend about the Rise & Shine newsletter. It’ll help us reach more people.
Thanks for reading😊