Week in Review📰(Oct 14 - Oct 19)
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
Mamaearth becomes India's 3rd largest skincare brand
India advances in 6G race, ranks among top six in global patent filings
Reliance Jio launches JioBharat V3 and V4 4G feature phones at ₹1099
The number of GenAI startups in India grew by over 260%
Upgrad cofounder and MD Mayank Kumar steps down to launch new startup
SpaceX makes history with a successful test of ‘Mechazilla arms’
Blinkit introduces 10-minute returns and exchanges for clothing, footwear
Navi breaks into top 5 UPI apps
Former OKX CEO Jay Hao joins Indian blockchain startup CIFDAQ as co-founder
RBI bars NAVI, DMI Finance and others from loan sanctioning and disbursal
Let’s move on to the top funding deals from the week.
Funding Deals
Purplle has closed its Series F funding round at Rs 1,500 crore (approximately $180 million). This round was led by a subsidiary of the Abu Dhabi Investment Authority (ADIA) and saw significant contributions from existing investors, including Premji Invest and Blume Ventures, who increased their commitments.
Higher education and upskilling platform Erudtius has raised $150 million in a Series F round, led by TPG’s The Rise Fund.
Neuron7.ai, a cloud-based service intelligence platform, has bagged $44 million in a Series B funding round spearheaded by Smith Point Capital, the investment firm led by former Salesforce co-CEO Keith Block.
GIVA Jewellery, a fine jewellery brand, has closed its extended Series B funding round at ₹255 crore from Premji Invest, Epiq Capital, Edelweiss Discover Fund, and the top management of GIVA.
Everstage, a sales performance management software provider for enterprises, has raised $30 million in a Series-B funding round led by Eight Roads Ventures, with participation from existing investors Elevation Capital and 3one4 Capital.
Elder care startup Primus Senior Living has raised $20 million in a seed funding round led by General Catalyst, with participation from Zerodha co-founder Nikhil Kamath and Gruhas, the investment firm co-founded by Kamath and Abhijeet Pai of the Puzzolana Group.
Sistema.bio, a biogas-tech company, has successfully raised $15 million in a funding round led by ElectriFI, managed by EDFI Management Company. Existing investors, including Chroma Impact Investment, KawiSafi Ventures, AXA IM Alts, and others, also participated in this round.
Alternative asset management firm Anicut Capital has secured $11 million in dollar-denominated investments through the GIFT City Structure for its Private Credit Fund 3.
Consumer lending and payments startup Slice has raised Rs 71.7 crore (approximately $8.6 million) from its founder and CEO, Rajan Bajaj, via partly paid-up shares.
Simplismart has secured $7 million in Series A funding round led by Accel, with participation from Shastra VC, Titan Capital, and high-profile angels, including Akshay Kothari, Co-founder of Notion.
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! 💡
