Week in Review🏟 (Sep 23 - Sep 28)
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
America-India is the AI power of the new world: PM Modi
OYO acquires Motel 6-parent G6 Hospitality for $525 Mn
Infibeam entering UPI payments with new app RediffPay
Mobikwik secures Sebi nod for Rs 700 crore public offer
Swiggy gets Sebi nod for proposed $1.25 billion IPO
Zerodha hits Rs 8,370 Cr revenue with over 55% profit margin in FY24
BigB, Dravid, KJo and other top celebrities grab a share of Swiggy’s pre-IPO pie
Meta unveils cheaper VR headset, AI updates and shows off prototype for holographic AR glasses
Zepto ranks first in LinkedIn’s 2024 list of India’s top startups
HomeLane acquires DesignCafe, raises Rs 225 crore from Hero Enterprise, Ranjan Pai
Prime Minister Narendra Modi launched 3 Param Rudra Super Computing Systems and a High-Performance Computing (HPC) system
822 IPOs globally aimed to raise $65bn till August; India tops APAC tally
Let’s move on to the top funding deals from the week.
Funding Deals
Edtech company Physics Wallah (PW) has raised $210 million in a Series B funding round led by Hornbill Capital, with participation from Lightspeed Venture Partners, GSV, and WestBridge.
Digital adoption platform (DAPs) Whatfix has secured $125 million in a Series E funding round, led by Warburg Pincus with participation from existing investor SoftBank Vision Fund 2.
Application programming interface (API) infrastructure platform M2P Fintech has raised Rs 850 crore (around $101.8 million) through a primary and secondary financing round led by Helios Investment Partners.
Indian startup Qure.AI raised $65 million from investors led by Lightspeed Venture Partners and 360 ONE Asset Management, gaining funds to expand and develop its products that use artificial intelligence to help detect diseases.
Myntra founder Mukesh Bansal has launched a new artificial intelligence (AI) venture, Nurix AI has raised $27.5 million in a seed round of funding from Accel and Silicon Valley fund General Catalyst.
Zomato-backed adtech startup AdOnMo has raised $25 million (about Rs 209 crore) in a funding round led by Singapore-based venture capital (VC) firm Rigel Capital and Indonesia-based Sinar Mas.
Visa processing platform Atlys has raised $20 million in its Series B funding round, co-led by Peak XV Partners and Elevation Capital. The round saw participation from existing investors, alongside new investors such as DST Global and Headline.
Omnichannel jewelry startup Giva has raised Rs 100 crore ($12 million approximately) in an extended Series B round from Premji Invest.
Homegrown D2C ayurvedic nutrition brand Kapiva has raised Rs 83.5 crore (approximately $10 million) led by OrbiMed Asia with the participation of 3One4 Capital and Vertex Ventures.
Cloud kitchen startup Curefoods has raised another $9.6 million in debt from Binny Bansal and Jitender Kumar Bansal.
Climate financing platform Two Point O Capital has raised $6.3 million in its seed round led by Omnivore, with participation from Multiply Ventures, RTP Global, GrowX, Spectrum Impact, and a group of marquee angels.
Vacation home rentals platform ELIVAAS has raised $5 million in Series A funding round led by 3one4 Capital along with participation from Peak XV’s Surge and other angel investors.
Biotech startup Ahammune Biosciences has raised $5 million in Series A funding round led by pi Ventures. The round also witnessed participation from Capital2B, Colossa Ventures, Bipin Agarwal, Unicornus Maximus LLP, and existing investors Ideaspring Capital, Kotak Alternate Assets, Legacy Assets LLP and IAN.
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! 💡
