Week in Review 🎪 (Sep 2 - Sep 7)
Week in Review 🎪 (Sep 2 - Sep 7)
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
Mastercard, boAt enable tap and pay on wearables
PayU eyes full-stack consumer payments through its LazyPay
Apple set for music, TV streaming fight in India after Airtel deal
Fampay launches UPI app Namaspay for foreign travelers in India
Payment apps open pilots to cash in on NPCI’s new UPI Circle
Reliance Jio’s latest AI strategy could disrupt the dominance of Big Tech
SoftBank-backed OfBusiness plans up to $1 billion India IPO, executive says
Zomato shares rally 8% as JPMorgan hikes target price to Rs 340
Nvidia sheds $279 billion in market cap
Ola Electric to bring three-wheeler to market soon
Zomato's big Paytm play puts a spanner in KKR-BookMyShow deal
Let’s move on to the top funding deals from the week.
Funding Deals
Bike-taxi platform Rapido has raised $200 million in a financing round that values it at $1.1 billion. The funding round was led by Rapido's existing backer, WestBridge Capital, which has pumped $120 million -- as reported by ET in July -- in addition to participation from Nexus Venture Partners and new investors, San Francisco-based Think Investments and New York-based Invus Opportunities.
Global investment platform Verlinvest has led a $35 million round in specialty coffee and bakery brand Blue Tokai. Existing investors Anicut Capital and A91 Partners also joined the Series C funding.
AGRIM, a B2B platform for agri-inputs, has secured $17.3 million in its Series B funding round led by Asia Impact, with participation from existing investors such as Kalaari, India Quotient, Omnivore, and Accion Venture Lab.
Energy storage solutions startup Clean Electric has raised Rs 48.5 crore (approximately $6 million) from existing and new investors. Info Edge and Pi Ventures co-led the Series A with Rs 14.16 crore each while existing backer Kalaari Capital has pumped in Rs 14 crore. Angel investors Panjak Chaddah, Amit Kumar, Rama Advisors, and Lok Capital cumulatively have put in Rs 6.18 crore.
Direct-to-consumer retail brand Nutrabay has secured $5 million in Series A funding round led by RPSG Capital Ventures along with participation from Kotak Alternate Asset Managers Limited.
Backpacker hostel chain The Hosteller has raised Rs 32 crore (approximately $4 million) in its Series A round led by V Cube Ventures with the participation of Lets Venture Angel Fund, Angelist, and several other investors.
RecommerceX, a chemical recycling and sustainability startup, has raised $3.6 million in seed funding round led by venture capital firm Accel and Kae Capital.
Invest4Edu, a platform which offers education planning, saving and investment services, has raised $3 million in its seed funding from family offices.
Non-hospital medical tourism company Global Care has raised $3 million in Series A funding round led by 35North India Discovery Fund – II.
BigEndian Semiconductors, a fabless semiconductor design startup, raised $3 million in a funding round led by Vertex Ventures SEA & India.
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! 💡
