Week in Review ✨ (Nov 20 - Nov 25)
Week in Review ✨ (Nov 20 - Nov 25)
Unleash the Power of the Week's Best Bits! From Big Bucks to Bold Innovations, Dive into the Review! 🚀🔍
Dear Rise & Shine Community,
Welcome to the Saturday edition of Rise & Shine—a recap of a week filled with optimism, opportunities, and mindful living. 🚀
Today's newsletter is a special edition where we revisit the highlights, including the top news and funding deals of the week.
Quick Recap of the Week
Banks Cautious on UPI Credit as Fintechs Forge Ahead⚖️💳
World Cup Final Boosts Quick Commerce 📈🏆
Apple Aims Big: Targets Rs 1 Lakh Crore iPhone Production in FY24📱
Fintechs Boost Topline: Eyeing Card Distribution Business for Growth💳
Income Tax department detects Rs 10,000 crore tax evasion by etailers🚨
ED Issues ₹9,362 Crore Forex Violation Notice for Byju’s ⚖️
Adobe acquires Indian generative AI startup Rephrase.ai 🤝
Sam Altman Returns as OpenAI CEO with Fresh Board Leadership 🌐
Amazon India Explores Greener Routes: Packages to Sail on Inland Waterways🚢
RBI and NPCI Chart New Paths for Digital Currency Adoption💸🔄
India Takes on Deepfakes: New Regulations in the Works 🤖🚫
Mamaearth's Parent Rockets 14% on Stellar Q2 - A 37% Surge 💼
Let’s move on to the top funding deals from the week.
Funding Deals
Fintech firm Scapia raised $23 million in its Series-A funding round led by Elevation Capital and 3STATE Ventures. The round also saw participation from its existing investors, Matrix Partners India and Tanglin Venture Partners.
Virtual credit card platform Kiwi has raised $13 million in a Series A round led by Omidyar Network India with participation from existing investors Nexus Venture Partners and Stellaris Venture Partners.
Purple Style Labs (PSL), the parent company of Pernia’s Pop-Up Shop (PPUS), has secured $8 million in Series D funding led by Sanket Parekh of Pidilite Family Office.
Baaz Bikes, a full-stack electric vehicle ecosystem for gig workers, has raised $8 million in a Series A funding round led by Singapore-based Big Capital.
Meat delivery platform ZappFresh has raised Rs 30 crore (approximately $4.3 million) in a round co-led by Ah! Ventures, HT Media, Unity SFB and Heifer Impact.
Herby Angel, an ayurvedic and organic personal care brand, has raised $2.5 million in its first round of funding from JCBL Group.
Vendor-digitization platform Bizongo has acquired FactoryPlus, a digitisation app for MSME factories.
airpay, an integrated financial services platform, has acquired Finfinity Technologies, a personal finance management startup and the developer of the Finmapp app, for an undisclosed sum.
Thank you for being a cherished part of the Rise & Shine community. Let's continue this journey together, embracing positivity and mindfulness every step of the way.
Wishing you a weekend filled with joy and reflection!
