Zomato is now ETERNAL🌐
Flipkart Minutes eyes 550 dark stores, Akasa Air raises funds, Funding Deals and more.
Good morning and welcome to Friday’s edition of Rise & Shine!
"Jump, and you will find out how to unfold your wings as you fall."
— Ray Bradbury
Today, Bradbury’s words encourage us to embrace risk and trust in our ability to figure things out along the way. Sometimes, the only way to grow is to leap.
You don’t need to have everything figured out before you begin—taking action teaches you what you need to know.
Tech Updates
Flipkart Minutes eyes 550 dark stores before ‘Big Billion Days’
Walmart-owned ecommerce company, Flipkart, is ramping up its quick commerce operations. Company seeks to set up 500-550 dark stores ahead of its flagship sales event—Big Billion Days, later this year. It aims to reach 300 such dark stores by March-end, positioning itself as a challenger to deeply entrenched incumbents such as Blinkit, Zepto, and Swiggy Instamart.
Zomato changes parent company name to Eternal; will house Blinkit, others
It's official. The parent of the food and grocery delivery firm Zomato will now be called Eternal Ltd. The change is the final piece of a three-year-long rebranding effort that began internally. The holding company will undergo a name change, but the Zomato brand for food delivery will stay intact. Eternal will house the company’s four divisions—its food delivery platform Zomato, quick commerce service Blinkit, going-out offerings District, and business-to-business grocery supply vertical Hyperpure.
Akasa Air raises funds from Azim Premji, Ranjan Pai family offices
Domestic carrier Akasa Air on Thursday said it has entered into a pact with a consortium of marquee investors, including Tech tycoon Azim Premji's global investment arm, and the investment office of Manipal Group Chief Ranjan Pai, for a fresh capital infusion fuel the airline's ambitious growth plans. Besides, the Jhunjhunwala family, which currently holds a 45.97% stake in the airline, has also "committed" to an additional funding, Akasa Air said in a statement.
Funding Deals
Online fashion retailer Myntra has received an $81 million capital infusion from its parent Flipkart.
TrueFoundry, an AI deployment and scaling platform, has raised $19 million in Series A funding, led by Intel Capital. Existing investors Eniac Ventures and Peak XV’s Surge, along with new investor Jump Capital and several angel investors, including Gokul Rajaram, Mohit Aron, Cyan Banister, and executives from Fortune 1000 companies, also participated.
Enterprise AI startup Cognida.ai has raised $15 million in a Series A funding round led by Nexus Venture Partners.
Cybersecurity startup Astra Security has raised $2.7 million in a funding round led by Emergent Ventures. The round also saw participation from The Neon Fund, Better Capital, Blume Ventures and PointOne Capital.
AI-powered hiring platform Vahan.ai secured an undisclosed investment from Asia-Pacific region based HR services provider Persol Group.
SaaS-based B2B fintech firm Perfios has acquired CustomerXPs, a fraud detection platform Clari5 for an undisclosed amount.
🤾🏻 Short Story: The First Leap
Aarav had always dreamed of becoming a public speaker, but his fear of failure held him back.
One day, instead of waiting for more confidence, he signed up for an open mic event. His first speech wasn’t perfect, but he learned from it and improved each time.
By taking that leap, he discovered his true potential—something he would have never known had he stayed in his comfort zone.
Tweet of the day🐥
As you head into the weekend, remember that the first step is often the hardest, but it’s also the most important.
Rise & Shine reminds you that you don’t need all the answers—trust yourself to figure things out as you go.
Have a fearless and adventurous Friday!
Thanks for reading till the end!