Zepto surpasses $1.35 Bn in funding for 2024💰
Alibaba integrates ecomm platforms, PharmEasy halves loss, Nvidia tops Q3 on strong AI demand, Funding Deals and more.
Good morning and welcome to Friday’s edition of Rise & Shine!
"Defeat is a state of mind; no one is ever defeated until defeat is accepted as a reality."
— Bruce Lee
Bruce Lee’s empowering words remind us that defeat is not determined by circumstances but by how we perceive and respond to them. Let’s explore how resilience shapes our reality.
Resilience lies in seeing obstacles as opportunities for growth, refusing to accept defeat as the end, and rising stronger after each fall.
Tech Updates
Zepto raises $350 Mn, surpasses $1.35 Bn in funding for 2024
Quick commerce company Zepto has raised $350 million in a funding round led by Motilal Oswal Private Wealth, with participation from notable investors, including Raamdeo Agarwal, the Taparia Family Office, Mankind Pharma Family Office, RP Sanjiv Goenka Group, Cello Family Office, Haldiram Snacks Family Office, Sekhsaria Family Office, Kalyan Family Office, Happy Forgings Family Office, and Mothers Recipe Family Office (Desai Brothers). Celebrity investors such as Sachin Tendulkar and Abhishek Bachchan also participated in this round.
Alibaba integrates ecommerce platforms into a single business unit
Alibaba Group will integrate all of its e-commerce platforms into a single business unit to be called the Alibaba Ecommerce Business Group. It marks the first time the group's domestic Chinese ecommerce group and its international ecommerce platforms will be integrated. The new group brings together the Taobao and Tmall Group and the Alibaba International Digital Commerce (AIDC) Group.
PharmEasy halves loss to Rs 2,533 crore in FY24, revenue dips 15%
Mumbai-based online pharmacy PharmEasy has reported a 15% on-year decline in its revenue for 2023-24 while its net loss halved. Revenue for FY24 at Rs 5,664 crore vs Rs 6,644 crore in FY23. Net loss fell to Rs 2,533 crore from Rs 5,212 crore a year ago.
Nvidia tops Q3 on strong AI demand, but slowing growth hits stock
Nvidia, the world’s largest publicly traded company by market capitalisation, surpassed Wall Street expectations with its Q3 earnings, reported after market close on Wednesday. The company continued its streak of remarkable financial growth, fuelled by surging demand for AI technologies. However, despite the strong performance, Nvidia's stock slipped following the announcement.
Funding Deals
Insurance infrastructure API platform Zopper has secured $25 million in a Series D funding round led by Elevation Capital, Dharana Capital, and Blume Ventures.
Artificial intelligence-powered cancer diagnostics startup OneCell Diagnostics raised $16 million in a funding round led by Celesta Capital.
Fintech startup CredFlow has raised $3.7 million (about Rs 31.2 crore) in a pre-Series B funding round co-led by two of its existing investors, Inflexor Ventures and a Singapore-based family office.
👟 Short Story: The Persistent Athlete
Jordan, a sprinter, suffered a severe injury during a crucial race, derailing his career temporarily. Many told him to accept defeat and move on, but Jordan refused to let the setback define him.
Inspired by Lee’s philosophy, he focused on recovery, set small goals, and worked tirelessly to return to the track.
Two years later, Jordan not only competed again but won a national championship. His journey proved that defeat is only real if we accept it, and resilience can turn setbacks into comebacks.
Tweet of the day🐥
As you close your week, remember that your mindset determines your reality. Refuse to accept defeat as final, and keep pushing forward.
Rise & Shine reminds you that resilience and determination can make any challenge a stepping stone.
Have a victorious and empowering Friday!
Thanks for reading till the end!