Week in Review📺(Dec 09 - Dec 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
Reverse flip in cart, Flipkart plans IPO delivery in 12-15 months
Paytm shares up 3% to fresh 52-week high on nod to sale of PayPay stake for Rs 2,364 crore
PhonePe, G-Pay lead UPI in Nov; Flipkart's super.money overtakes Amazon Pay
Lenskart signs MoU to set up new manufacturing plant in Telangana; will invest Rs 1,500 crore
DPIIT partners with Flipkart to invest $100 mn in Indian startups
Groww nears 13 Mn active users in November, INDmoney overtakes Paytm Money
Amazon to launch quick commerce deliveries in India amid boom in segment
Mobikwik IPO sails through in the first hour of launch
Zepto to launch standalone app for 10-minute food delivery service
Swiggy shares fall over 4% as IPO lock-in expiry ends for 6.5 crore shares
Blinkit enters 10-minute food delivery space; rolls out Bistro app
Bluestone likely to launch IPO at Rs 12,000-13,000 crore valuation; up 50% from last funding round
Mobikwik IPO subscribed 17 times, driven by retail investors
Let’s move on to the top funding deals from the week.
Funding Deals
Foodtech firm Rebel Foods has announced its Series G funding round of $210 million, comprising a mix of primary and secondary share sales. Temasek led the Series G round with participation from existing investor Evolvence.
Supply-chain financing startup Mintifi has raised $180 million in a Series E funding round co-led by Teachers’ Venture Growth (TVG) and global investment firm Prosus. Existing backer Premji Invest also participated in the fundraise.
Contract manufacturing startup Zetwerk has secured $70 million in fresh funding, led by Khosla Ventures, with Baillie Gifford and Rakesh Gangwal also participating.
CarDekho SEA, the Southeast Asia business unit of digital automotive solutions provider CarDekho Group, has raised its first external funding round of $60 million led by growth and private equity investors Navis Capital Partners (Navis) and Dragon Fund.
Industrial robotics maker Haber has raised $44 million in its Series C round led by Creaegis, BEENEXT, and Accel.
Wooden Street, a furniture and home decor brand, has raised Rs 354 crore (approximately $43 million) in its Series C round from Premji Invest.
Solar startup SolarSquare has secured $40 million in its Series B funding, the largest venture capital raise in India’s solar sector. The round was led by Lightspeed and included investments from Lightrock, Elevation Capital, Chris Sacca’s Lowercarbon, Nithin Kamath’s Rainmatter, and Gruhas Proptech.
Venture Capital firm Kenro Capital has made its first investment of $40 million (Rs 340 crore) in K12 Techno Services, owner of Orchids International Schools.
Cloud-based testing platform LambdaTest has secured $38 million in a funding round led by Avataar Ventures, with Qualcomm Ventures also participating.
Pune-based FPL Technologies, which operates a credit card issuance and digital payments platform, One Card, has secured around $25.5 million in a fresh funding round led by QED Investors. Peak XV Partners, Z47 (previously Matrix Partners India), and Better Tomorrow Ventures also participated in the round.
Spacetech startup Pixxel announced the closing of $24 million in additional funding as part of its Series B round from new investors M&G Catalyst and Glade Brook Capital Partners, who join existing backers, including Google, Radical Ventures, Lightspeed, and others.
Fintech startup Snapmint has raised $18 million in debt and equity led by Prashasta Seth (Prudent Investment Manager). Perpetuity Ventures and Pegasus Fininvest have also participated.
RapidCanvas, an AI platform for business transformation, has raised $16 million in a Series A funding round led by Peak XV Partners. The round also saw participation from Titanium Ventures, Accel, and Valley Capital Partners, bringing the company’s total funding to $23.5 million since its founding in 2021.
Non-Banking Finance Company (NBFC) Varthana has secured $15 million (about Rs 120 crore) in funding from BlueOrchard Microfinance Fund, managed by BlueOrchard.
Bengaluru-based NBFC Avanti Finance has raised $14.2 million (Rs 120 crore) in its Series B round from Dia Vikas Capital, existing investors IDH Farmfit Fund, NRJN Family Trust, Rabo Partnerships and select HNIs. The company’s early investors include The Bill & Melinda Gates Foundation, Oiko Credit & Nomura.
Orange Health Labs, a diagnostics lab and healthcare platform, has raised $12 million in a funding round led by Amazon Smbhav Venture Fund. Existing investors, including Accel, General Catalyst, Bertelsmann India Investments, and Y Combinator, also participated in the round.
Regional language-focused over-the-top (OTT) platform Stage is raising Rs 84.6 crore (approximately $10 million) in its Series B round led by Goodwater Capital and with the participation of Blume Ventures.
DCDC Health Services Private Limited (DCDC), operating dialysis centers under its brand DCDC Kidney Care, has secured a strategic investment of Rs 82 crore (nearly $10 million) from British International Investment (BII), the UK’s development finance institution and impact investor.
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! 💡
