Week in Review 🌦️ (May 6 - May 11)
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
Bhavish Aggarwal's Krutrim AI launches mobile app, opens up cloud infra for businesses
BHIM App To Join ONDC To Take On Rivals Google Pay, PhonePe
Apple is working on its own AI chip for data centers: Report
Apple co-founder Wozniak's space startup Privateer buys Orbital Insight, raises $56.5 million
PhonePe dominates the UPI ecosystem with a 49% market share in April
Brazilian payment company Ebanx set to start India operations with Yes Bank
Paytm nears $2.5 billion in market cap as shares tumble
Zomato launches India's 1st crowd-supported real-time weather infrastructure
Uber ups hyperlocal deliveries amid quick-commerce frenzy
Pine Labs-owned Setu and Sarvam AI launches domain-specific LLM for the BFSI sector
OpenAI to launch AI-powered search engine, challenging Google's dominance
Paytm launches auto-rickshaw booking
Digit IPO opens on May 15, and looks to raise Rs 1,125 crore
Let’s move on to the top funding deals from the week.
Funding Deals
Maiva Pharma, an injectables contract development and manufacturing organization (CDMO), has bagged Rs 1,000 crore in primary and secondary funding from a fund managed by Morgan Stanley Private Equity Asia and India Life Sciences Fund IV.
Data and AI governance company Atlan has raised $105 million in its Series C funding round led by GIC, Singapore’s sovereign wealth fund, and Meritech Capital. Existing investors Salesforce Ventures and Peak XV Partners also participated in the round.
Venturi Partners has announced a purchase of a $27 million worth of stake in K12 Techno Services from Navneet Learning LLP, a subsidiary of Navneet Education Limited.
Agritech startup Superplum has raised $15 million in its Series A financing round led by Erik Ragatz, former partner and current senior advisor of private equity firm Hellman & Friedman.
Fintech company Lendingkart has raised $10 million by way of external commercial borrowing from a fund managed by a global impact investment manager and member of the Schroders Group 'BlueOrchard'.
Infinity Fincorp Solutions, an NBFC specializing in tailored property loans for MSMEs, has secured an additional $8 million from Archerman Capital in an extension to its recent $26 million funding round led by Jungle Ventures.
Foodtech startup Poshn has raised $4 million in its pre-Series A round, including $2 million in debt led by Prime Venture Partners and Zephyr Peacock India.
Deep tech AI startup Myelin Foundry has raised $4 million in a new round from SIDBI Venture Capital Limited (SVCL). Other investors include Endiya Partners, Pratithi Investment Trust, and Subh Labh.
Bengaluru-based log analytics startup Parseable has raised $2.75 million in its seed round led by Surge and NP-Hard Ventures.
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! 💡
