Zomato-Swiggy stocks soar📈
UPI transactions near 17 Bn, Paytm Cloud to acquire stake in Seven Tech, Ola Electric's m-cap increases to 25.8%, Funding Deals and more.
Good morning and welcome to Monday’s edition of Rise & Shine!
"Not everything that is faced can be changed, but nothing can be changed until it is faced."
— James Baldwin
James Baldwin’s powerful words remind us that while we may not be able to change everything in life, progress only begins when we dare to confront reality head-on.
The first step toward growth, healing, or success is acknowledging what stands in our way. Only then can we begin to work toward meaningful change.
Tech Updates
Zomato, Swiggy, other new-age company stocks vault after FM's income tax relief
Zomato and Swiggy stocks jumped 10% following Finance Minister Nirmala Sitharaman's announcement in the Union Budget 2025 that individuals earning up to Rs 12 lakh annually will be exempt from income tax. Other new-age startups serving India's middle class, such as Nykaa and Ola Electric, also experienced a surge in their stock prices.
UPI transactions near 17 Bn in January
The Unified Payments Interface (UPI) recorded 16.99 billion transactions worth Rs 23.48 lakh crore in January, reflecting a 39% year-on-year growth in transaction volume and a 28% increase in transaction value. Every month, UPI saw a 1.55% growth in volume and nearly a 1% rise in value, compared to 16.73 billion transactions worth Rs 23.25 lakh crore in December.
Paytm Cloud to acquire 25% stake in Delaware-based Seven Tech
Paytm Cloud, a wholly-owned subsidiary of One97 Communications, is set to acquire a 25% stake in Delaware-based Seven Tech for around Rs 8.70 crore ($1 million). The acquisition is part of Paytm’s strategy to expand its merchant payments and financial services model to international markets. Seven Technology enables e-commerce platforms to provide digital financial services solutions to micro, small, and medium-sized enterprises (MSMEs) in Brazil. After this, Seven Technology and Dinie will become associate entities of the company.
Ola Electric back on top with 25% EV 2W market share in January
Ola Electric has reclaimed its leading position in the electric two-wheeler (EV 2W) segment, capturing a 24.91% market share in January. According to Vahan data, the company sold 24,330 units during the month. TVS Motors took the second spot, selling 23,788 units, just slightly behind Ola. Bajaj Auto, another prominent player in the Indian automobile sector, secured a 21.80% market share with 21,294 units sold in January.
Funding Deals
Captain Fresh, a seafood supply chain, has raised Rs 250 crore (approximately $30 million) in its ongoing pre-IPO funding round. Prosus Ventures, Accel, and Tiger Global led the round, while the family office of Sriharsha Majety, co-founder of Swiggy; Sid Khanna, chairman of India Equity Partners; Sunjay Kapur, chairman of Sona Comstar; Shivalik Prints, a textile and apparel manufacturer supplying global retailers; and multiple others participated.
D2C wellness startup Scentials has raised Rs 34.6 crore (approximately $4 million) in a mix of debt and equity led by Indus Way Emerging Market Fund with the participation of TIW Private Equity.
US Venture capitalist Tim Draper-backed drone manufacturing startup BonV Aero announced securing funding from Unicorn India Ventures.
🪞 Short Story: The Courage to Confront
Mira had always struggled with public speaking, avoiding opportunities to present in meetings. One day, she realized that it would continue to hold her back unless she faced this fear.
She started by practicing in front of a mirror, then small groups, and eventually, larger audiences. While she never became completely fearless, her willingness to face the challenge helped her grow into a confident speaker.
Tweet of the day🐥
As you begin the week, reflect on what obstacles you’ve been avoiding. The first step toward change is facing them with courage.
Rise & Shine reminds you that progress starts when you decide to confront what’s in front of you.
Have a brave and action-driven Monday!
Thanks for reading till the end!