Week in Review ⛵(Nov 25 - Nov 30)
Catch up on the week's biggest tech advances and funding milestones – your ultimate guide to what’s new and noteworthy!
Hey, Rise & Shine family!
Get set to dive into this week’s tech marvels and funding triumphs.
Let’s explore the latest breakthroughs and celebrate our shared passion for innovation and progress!
Let's dive into the tech marvels that dominated the headlines:
Quick Recap of the Week
Amazon India to Launch Quick Commerce Service ‘Tez’ Soon
Paytm Unveils UPI Lite Auto Top-Up For Daily Payments Under INR 500
Swiggy is the owner of World Pickleball League’s Mumbai team
E-commerce startup Moglix acquires Khatema Fibres to strengthen packaging vertical
Meesho unveils Gen AI-powered multilingual voice bot
Infosys hands out 90% average performance bonus fuelled by uptick in growth
Spacetech startup TakeMe2Space to launch AI lab in space in December
Ola Electric shares jump 20% on new scooter launches, Citi's 'Buy' rating
Uber rolls out 'Uber One' loyalty programme in India
Zomato's B2B vertical Hyperpure introduces rapid delivery service
Zomato secures Rs 8,500 Cr via QIP
Australia's world-first social media ban for children under 16 attracts mixed reaction
ISRO to launch ESA's Proba-3 mission to study sun’s corona
Let’s move on to the top funding deals from the week.
Funding Deals
Mobile-first credit card startup OneCard is raising Rs 239.4 crore or $28.5 million from Better Tomorrow Ventures, Peak XV (previously Sequoia Capital), and Z47 (previously Matrix Partners).
Indore-based Candytoy Corporate (CTC), a global manufacturer of plastic promotional toys and confectionery, has raised Rs 110 crore (about $13.22 million) in its Series A round from a group of domestic investors including Abakkus Asset Managers, Girik Capital, Param Capital Research, Sixth Sense Ventures, and Viney Equity Market.
Commercial electric vehicle (EV) leasing and asset management company ALT Mobility has secured $10 million in a Series A funding round led by European venture capital firm Eurazeo. The round also witnessed participation from its existing investors Shell Ventures, Twynam Earth Fund, and EV2 Ventures.
ShopDeck, a direct-to-customer (D2C) ecommerce solutions provider, raised $8 million (about Rs 68 crore) in a funding round led by global investment firm Bessemer Venture Partners.
Elchemy, a tech-driven cross-border specialty chemical distribution platform, announced the successful completion of its USD 5.6 million Series A funding round.
MSME-focused digital lender NeoGrowth has raised debt funding from UTI International Wealth Creator. NeoGrowth's regulatory filings sourced from the RoC show that its board has approved the issuance and allotment of up to 4,200 non-convertible debentures (NCDs) to raise up to Rs 42 crore (approx. $5 million).
Beyond Appliances, an innovative smart kitchen appliance brand has raised $2 million in its seed round led by Fireside Venture Investment Fund III.
Car parking solutions provider ParkMate has raised $1.2 million in a new round led by early growth-stage venture fund Cactus Partners. Existing backers such as Venture Catalysts and the Marwah Group Family Office have also participated in the round.
Biomaterials startup Ukhi has secured $1.2 million in a pre-seed funding round. The funding round combines equity investment led by 100Unicorns, along with participation from Venture Catalysts and angel investor Avtar Monga, alongside debt funding from SIDBI (Small Industries Development Bank of India).
Members-only platform Ladies Who Lead (LWL) has raised $1 million in a pre-Series A funding round led by Nithin Kamath's investment firm, Rainmatter, along with participation from the Family Office of Jayant Davar.
Ikin Global, an IoT smart lock brand, has raised $1 million in its pre-Series A round led by Unicorn India Ventures and Callapina Capital.
As we wrap up this edition, let's reaffirm our commitment to positivity, resilience, and seizing every opportunity.
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! 💡
