Milestone 🚀
Myntra's Fast Fashion, Big Money Raises and Apple's Investment.
☀️ Morning, it’s Friday
📈 Sensex rose 1% sustaining the weekly uptrend. The S&P crawled back 0.2%.
Let’s hit it!
1 Big Thing: $100k secured 🚀
Bitcoin topped $100k last night, breaking through a critical psychological barrier.
What matters: The current rally is being driven by two primary catalysts
The approval of Bitcoin ETFs in the US, which allowed institutional money to get exposure to the asset.
The Trump re-relection which brought renewed policy support.
And there’s more: Trump continues to support the industry with cabinet installations. Just this morning, venture investor David Sacks was appointed Crypto and AI czar for the incoming administration.
Yes, but: while mainstream adoption continues to grow, the asset’s volatility remains a concern, limiting its use as store of value.
Worth noting: around 8% of people in India are believed to have exposure to Crypto, slightly higher than the global average.
Big picture: with the United States recognising Bitcoin at the highest level, other governments could be forced to take notice, further catalyzing the trend.
2. Fast fashion, literally 🛵
Myntra will now deliver clothes in under 30 minutes, under a new service called M-Now.
Starting with Bengaluru, this feature already covers 10,000 styles across fashion, beauty, accessories, and home.
The deets: Myntra will use its tech prowess to tackle real time order management and balance hyperlocal selections and plans on scaling to over 1 Lakh styles in the next few months.
Big picture: Indian fashion e-commerce is currently a $16–17 billion space and is expected to top $40 billion by 2028. Competition is heavy, but logistical innovation could further unlock growth.
Worth noting: Myntra has lined up global and domestic brands like Levi’s, Mango, Huda Beauty, and Dyson to join, catering to unplanned, immediate fashion needs, especially for GenZ shoppers.
3. Big IPOs to keep an eye on 📈
Star Agri, a full stack post agricultural services firm, has filed preliminary papers with SEBI for an IPO to raise up to ₹450 crore.
What do they do: founded in 2010, the company runs an end to end platform that procures grain, holds it in warehouses, facilitates trade and provides financing and working capital solutions, servicing the entire post harvest value chain.
What’s new: already profitable and planning for next phase of growth, the company will use IPO proceeds for working capital and expanding subsidiaries.
The company is backed by Temasek, and will conduct a pre-IPO round of ₹90 Crore.
While we are on IPOs,
Vishal Mega Mart’s ₹8,000 crore IPO opens on December 11, closing on December 13.
The retail giant, with 626 stores across FMCG, apparel, and general merchandise, is going public through an OFS by its promoter, Samayat Services LLP.
4. Who got the bag? 💰
Quick look at a few venture raises from yesterday
Entrackr reported that Medial, the tech focused social media platform, raised $500K in a funding round led by Ortella Global Capital. Fresh funds will be put towards growth and community expansion.
On the global stage robotics is making a comeback. AMP Robotics raised $91 million to build waste management and sorting robots that are capable of autonomously operating large waste sorting yards.
What else are we snackin’ 🍿
✈️E-Visa ready: The Philippines has streamlined travel for Indians with its new e-visa system, making tropical getaways easier than ever.
🍎Apple’s $1B move: Apple plans a $1 billion investment in a manufacturing plant in Indonesia, aimed at boosting local production amid regulatory tensions.
👍Notre-Dame reborn: Notre-Dame is opening to the public after five years of restoration following the 2019 fire.
And that’s a wrap. Pour yourself an extra one this weekend.
We’ll be back like clockwork on Monday!
Hit that 💚 if you liked this issue.
