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Top News of the Week: 1. Funding: - On a weekly basis, startup funding slipped 76.73% to $211 million as compared to around $906 million raised during the previous week. - Among the growth-stage deals, 9 startups raised $150.84 million in funding this week. Edtech company upGrad topped with its $35 million debt funding. SaaS startup Rocketlane, co-working space solutions provider Smartworks, D2C apparel brand Rare Rabbit, and online gold loan platform Rupeek followed with $24 million, $20.24 million, $18 million, and $15 million funding. Healthcare startup Doceree, D2C jewellery brand Bluestone, EV startup Matter, and consulting firm NovaVente also raised capital while IT services provider Celebal Technologies raised an undisclosed sum from BlackSoil - 15 early-stage startups secured funding worth $60.13 million during the week. B2B platform for apparel sourcing and manufacturing platform Zyod spearheaded the list followed by AI health startup Cloudphysician, D2C dairy brand Sid’s Farm, agriculture tech firm Two Brothers Organic Farms, and fabless semiconductor startup Morphing Machines. - Credit card bill payment management platform CheQ, revenue-as-a-service platform for e-commerce and D2C brands Nitro Commerce, and hazardous waste management platform Neo San also raised funding among others. 2. Top hirings and departures: - Equirus has announced Krishna Jha as a venture partner for their InnovateX Fund, adding his 25 years of experience to bolster their commitment to innovation and strategic growth. - Bengaluru-based early-stage VC firm Mela Ventures has appointed R Kalyan Sundar as the Head of Finance and Legal. Greg Moran, co-founder of Zoomcar, has been terminated as CEO after 12 years. - General Atlantic’s Sandeep Naik will transition to an advisory role by the end of the year. Responsibilities will be divided between Shantanu Rastogi in India, who became managing partner in 2017 and has shared the India head title with Naik, and Neal Kok in Southeast Asia. 3. Acquisitions: - London-based private equity firm Finnest has acquired a majority stake of 53.75% in Bengaluru-based cloud kitchen startup, Kitchens@, making it a subsidiary of Finnest Holdings. - Nazara-backed Nodwin Gaming announced that its Singapore-based subsidiary will increase its stake in Berlin-based Freaks 4U to 100% through a share swap deal. Nodwin’s Singapore unit, currently holding 13.51%, will initially raise its stake to 57%, with the remaining 43% to be swapped later. The total deal is valued at Rs 271 crore ($32.6 million). 4. Other Developments: - Logistics firm Ecom Express is set to raise Rs 1,424 crore (approximately $172 million) from existing investors via a rights issue, marking its first round of investment this year. - Quick commerce unicorn Zepto is reportedly in talks to secure an additional $400 million at a $4.6 billion valuation, just a week after raising $665 million. - Flipkart Group launches UPI app super.money to offer financial services - CoinDCX introduces Web3 mode to allow users purchase crypto in INR - IPO-bound Ather converts itself into a public entity - Kota-based institutes see admissions drop by 31% in 2024 - Prosus 2024 report card: Byju’s write-off, Swiggy and PayU growth Prosus writes off $500 Mn investment in Byju’s - Zomato holds 56-57% food delivery market: Goldman Sachs Stay Updated. Stay Informed. Stay Ahead. Share the Medial App with your network, colleagues, and friends. Let's brainstorm, discuss together and help each other achieve our goals. And don't forget to rate us on the iOS App Store and Google Play Store to help us reach even more amazing people like you.