Week in Review📊 (Nov 4 - Nov 8)
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
Ola Electric’s two-wheeler market share rises to 30% in October
One railway app for ticketing, tracking trains expected to make its debut in December
Swiggy raises Rs 5,085 crore from anchor investors ahead of IPO launch
SaaS major Salesforce India hits $1 billion milestone, expands AI-driven growth
PB Fintech reports net profit of Rs 51 crore in September quarter; revenue up 40%
Trump 2.0: More money may venture into Indian startups
Swiggy IPO subscribed 12% on first day of bidding
Blackbuck sets Rs 259-273 price band for IPO
Truecaller cofounders to transition to advisory roles; Rishit Jhunjhunwala named CEO
Wealthtech platform Nivesh acquires Wealthzi
Let’s move on to the top funding deals from the week.
Funding Deals
Easy Home Finance, a prominent startup in the home financing sector, has raised $35 million in a fresh funding round led by Ranjan Pai’s family office, Claypond Capital, and Sumitomo Mitsui Banking Corporation’s Asia Rising Fund.
Kolkata-based snack brand Haldiram Bhujiawala has raised Rs 235 crore from private equity investor Bharat Value Fund (BVF), managed by financial services firm Pantomath Capital Management, in exchange for a minority stake.
EvoluteIQ has announced a successful $20 million equity and debt funding round. The investment was led by Round2 Capital, with contributions from Nordea Growth Fund, Dcap Select, and PH Ventures.
MODIFI, a global platform specializing in B2B Buy Now, Pay Later (BNPL) solutions, has raised $15 million in a funding round led by SMBC Asia Rising Fund, with participation from existing investors Maersk, Intesa Sanpaolo, Heliad, and other global backers.
Boldfit, a direct-to-consumer brand of fitness products and nutritional supplements, raised Rs 110 crore (about $13 million) from venture capital firm Bessemer Venture Partners.
Deep-tech robotics startup CynLr (Cybernetics Laboratory) has secured $10 million in a Series A funding round co-led by Pavestone and Athera Venture Partners (formerly Inventus India), bringing its total funding to $15.2 million. Existing investors, including Speciale Invest and Infoedge (Redstart), along with other investors, also participated in this round.
Mounttech Growth Fund, an early-stage VC firm focused on space and defence startups, is joining the $10 million funding round of spacetech startup GalaxEye.
Dronetech startup Marut Dronetech has raised $6.2 million in its Series A round from Lok Capital.
EV-as-a-Service platform Hala Mobility has raised Rs 51 crore (around $6 million) in its pre-Series A round from founders Srikanth Reddy and Snehith Reddy, Phani Ramineni (founder of Previa Health), along with Rohan Bajaj syndicate via invstt, Sarthy Angels, Bestvantage and a network of high-net-worth individuals (HNIs) and family offices.
The Hosteller, a backpacker hostel chain, has raised Rs 48 crore in a funding round led by V3 Ventures in a mix of equity and debt. This includes a debt of Rs 16 crore from the venture debt platform Blacksoil.
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! 💡
