Today's Brew - Promotions, Resignations, Innovations and More

From Peak XV MD Piyush Gupta's strategic move to launch a secondary-focused fund to inDrive's appointment of Pratip Mazumder as Country Manager, and boAt's innovative smartwatch featuring built-in maps, it's a storm of innovation.

Pine Labs-owned Setu welcomes Anand Raisinghani as CEO, while Garena gears up for Free Fire's Indian launch with localized operations. Meanwhile, Zomato spices things up with a platform fee hike and Dhruv Space gets a war chest to manufacture spacecrafts.

Pour yourself a cuppa and unwind with our made-fresh memes.

What Matters

“Achha Chalta Hoon, Duaon Mein Yaad Rakhna”: Peak XV MD Piyush Gupta Quits; Will Launch Secondary-Focused Fund

Piyush Gupta, the brains behind Peak XV's strategic moves, bids adieu to spearhead a secondary-focused fund. Known for sealing global deals, Gupta's departure marks a shift in Peak XV's trajectory. From Zomato's stake sale to Mastercard's investments, his legacy echoes in every transaction.

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“Center at the star, 'til the center of a nebula”: inDrive Appoints Former Swiggy Executive Pratip Mazumder As Country Manager For India

Pratip Mazumder steps into the driver's seat at inDrive as the new Country Manager for India, bringing over a decade of internet and tech leadership. Formerly at Swiggy, Uber, and Practo, Mazumder's expertise in strategic partnerships sets the pace for inDrive's accelerated growth.

With India as a focal point in their expansion, Mazumder's appointment signals a dedicated push towards market dominance.

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“Har Waqt Ka Saathi”: boAt Unveils Smartwatch That Comes With Built-in Maps and Turn By Turn Navigation

boAt makes waves with Storm Call 3, its latest smartwatch debut featuring built-in maps and turn-by-turn navigation, as announced by co-founder Sameer Mehta on LinkedIn. Positioned as India's inaugural budget-friendly option with this feature set, the D2C unicorn pushes boundaries in wearable tech.

Beyond navigation, Storm Call 3 boasts comprehensive health tracking, ensuring users stay on top of their fitness journey seamlessly.

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“Safalta Ki Seedhi”: Pine Labs-Owned Setu Ropes In Former SAP India Executive Anand Raisinghani As CEO

Anand Raisinghani steps into the CEO shoes at Setu, backed by Pine Labs, after steering various sectors at SAP as Vice President. With a career spanning over two decades across tech giants like IBM and Wipro, Raisinghani brings a wealth of experience to his new role.

Collaborating closely with Setu's co-founder Nikhil Kumar, Raisinghani is poised to drive innovation and growth in the fintech sphere.

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“Ankhiyon Se Goli Maare”: Garena Seeks Localising Its India Operations Ahead Of Free Fire Launch

Garena gears up for Free Fire's India launch by localizing operations, with a new server poised to be set up in Navi Mumbai by Yotta Data Services. Prioritizing performance testing ensures a seamless gaming experience, acknowledging concerns for player safety.

The Indian version promises end-to-end localization, aligning with local regulations and catering to the needs of stakeholders nationwide.

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“Mehengaai Ki Maar”: Zomato Hikes Platform Fee To INR 5

Zomato spices things up by hiking its platform fee to INR 5 in key markets like NCR, Bengaluru, and Mumbai, aiming for a tastier bottom line. Zomato shares open higher at INR 193.00 after the move, reflecting investor confidence in the move.

Additionally, the suspension of the intercity delivery service, Legends, signals strategic shifts in Zomato's operational recipe.

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Fundraising and Financials

1. Hyderabad's enterprisetech whiz, Runo, secures $1.5 Mn in Pre-Series A funding from Unicorn India Ventures and Callapina Capital, fueling its global expansion dreams.

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2. Mega Networks contemplates a substantial investment of up to INR 400 Cr to establish AI server manufacturing in Maharashtra, in alignment with government incentives.

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3. Dhruva Space successfully concludes its Series A funding round at INR 123 Cr ($15 Mn), paving the way for its ambitious plan to establish a spacecraft manufacturing unit.

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4. BluWheelz accelerates with a $1 million bridge round led by Venture Catalysts, fortifying its position in the tech-enabled delivery sector.

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5. Apna Mart, catering to India's smaller cities akin to D Mart, witnesses a staggering 770% growth in FY23, albeit fueled by aggressive investments in promotions and manpower.

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