Week in Review 🦄 (Sep 30 - Oct 05)
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
BharatPe announces settlement with Ashneer Grover
Edtech startup Adda247 buys placement preparation platform PrepInsta
IDFC FIRST Bank announces completion of IDFC Ltd merger
Uber in deal with Shadowfax to integrate two-wheeler fleet
Sachin Tendulkar backs health-tech startup Sugar.fit; comes on-board as brand ambassador
Persistent Systems acquires Pune-based data privacy management firm Arrka
OpenAI has closed funding round raising over $6.5 billion, valuing it at $150 billion
UPI sets new record with more than 15 Bn transactions in Sept
UST acquires automation unit of ISG for Rs 226 crore
Groww’s stock broking unit post Rs 2,900 Cr revenue and Rs 298 Cr profit in FY24
Let’s move on to the top funding deals from the week.
Funding Deals
Specialty chemicals startup Mstack has raised $40 million (about Rs 335 crore) in a funding round led by Lightspeed Venture Partners and Alpha Wave Global.
Fintech startup BASIC Home Loan has raised $10.6 million (Rs 87.5 crore) in its Series B round led by Bertelsmann India Investments (BII), along with CE-Ventures. The round also saw participation from existing investors, including Gruhas, Let’s Venture, 9Unicorns, and Venture Catalysts.
Troo Good, a millet-based snack brand, has raised Rs 72 crore (approximately $8.6 million) from Oaks Asset Management, with participation from Puro Wellness and V Ocean Investments.
Sports technology startup Str8bat has raised $3.5 million (about Rs 29.3 crore) in a Series A funding round led by Exfinity Venture Partners.
Bengaluru-based furniture retailer Furnishka has raised Rs 27 crore in a pre-series A funding round led by India Quotient, bringing the total equity raised by the company to Rs 45 crore.
Mental health platform LISSUN has raised $2.5 million in its pre-Series A round led by RPSG Capital Ventures. The round also saw new investors such as Multiply ventures and Atrium Angels along with existing investors such as Ivycap Ventures, Rainmatter and Sucseed Ventures.
Skincare brand ClayCo Cosmetics has raised $2 million (about Rs 16 crore) in a funding round from Unilever Ventures, the venture and growth capital arm of Unilever.
Drone-tech startup IG Drones has secured $1 million in a seed funding round led by India Accelerator, with participation from other angel investors.
Oncare, a cancer care startup, has raised $1 million in its seed round led by Huddle Ventures. The round also saw participation from marquee institutional VCs such as TRTL Ventures, Cloud Capital, and DeVC.
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! 💡