Week in Review💐 (Sep 9 - Sep 14)
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
Suzlon Energy acquires 51% stake in Renom Energy
After Bengaluru, Flipkart Minutes goes live in Gurugram
Ather files draft IPO papers to raise Rs 3,100 crore
iPhone 16 series unveiled alongside new AirPods and Apple Watch
Swiggy upsizes IPO; plans to raise Rs 5,000 crore via fresh issue of shares
Ather Energy to manufacture electric motorcycle
Pixxel becomes first Indian space startup to secure NASA contract
UPI features like ATM withdrawals, circle likely to hit debit cards hard
India will play a major role in driving the global semiconductor industry: PM Modi
Moneyview becomes unicorn with new funding
Nazara acquires 47.7% stake in PokerBaazi’s parent for $100 Mn
NPCI posts 37% jump in FY24 net profit to Rs 1,134 crore, revenue up 42%
Let’s move on to the top funding deals from the week.
Funding Deals
Cross-border trade finance fintech Drip Capital has secured $113 million in new funding, including $23 million in equity from Japanese investors GMO Payment Gateway and Sumitomo Mitsui Banking Corporation (SMBC).
InMobi, which offers mobile advertising network software, has secured $100 million in debt financing from MARS Growth Capital, a collaboration between MUFG and Liquidity Group.
MSMEs-focused fintech lender FlexiLoans has raised Rs 290 crore approximately $35 million in its series C round led by global investors Accion, Nuveen (the investment manager of TIAA), and Fundamentum, along with existing backer Maj Invest.
Wealthtech startup Centricity has raised $20 million in a seed funding round led by Lightspeed. Paramark VC, along with existing investors such as Burman Family Office, Shantanu Agarwal, and angel investors including Ritesh Agarwal, Vishal Dhupar, and the MS Dhoni Family Office, also participated in the round.
AppsForBharat, the parent company of the devotional app Sri Mandir, has secured $18 million in its Series B funding round led by Nandan Nilekani’s Fundamentum. The round also saw participation from Susquehanna Asia VC, as well as existing investors Elevation Capital, Peak XV, and Mirae Asset VC.
Nestasia, a home decor and lifestyle brand, has raised $8.35 million in a fresh funding round from Susquehanna Asia VC, Stellaris Venture Partners, and notable angel investors.
Energy storage solutions startup Clean Electric has raised $6 million in a funding round co-led by Info Edge Ventures, Pi Ventures, and Kalaari Capital. Lok Capital and other investors also participated in the round.
Biotech-driven R&D start-up Dharaksha Ecosolutions has raised Rs 24.8 crore (about $2.95 million) in a Seed funding round led by Avaana Capital.
FMCG direct-to-consumer startup Mitra has raised Rs 11 crore in its pre-Series A round led by Bestvantage Investments, with participation from a Dubai-based strategic family office headed by Mr. Surya, who contributed Rs 5 crore.
Clean-tech startup Exposome has raised Rs 10 crore in pre-Series A round led by women-centric venture capital firm Colossa Ventures.
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! 💡
