Boldcap’s plan for Indian AI founders; Unicommerce to buy Shipway

Hello,

Vistara has flown into the sunset.

For the first time in 17 years, India will only have one domestic full-service airline as Vistara officially merges with Air India. The airline, a joint venture between Tata and Singapore Airlines (SIA), was the pioneer of premium economy and was the first and only carrier to order and operate the 787-9 Dreamliner in India.

However, SIA’s India story isn’t over yet. It will invest an additional Rs 3,194 crore in Air India by subscribing to new Air India shares.

There’s a lot of excitement in the Indian air space. 

IndiGo, which operates as a budget airline, is set to introduce its first business-class service, which will debut on the Delhi-Mumbai route. Air India Express is planning to connect smaller cities with overseas destinations. And, passenger traffic data from DGCA showed that Indian airlines accounted for 45.6% of international traffic in India in the April-June quarter—up from 44% last year.

Moreover, in-flight WiFi may finally become a reality in India as the government recently amended rules to allow mobile communication services above 3,000 metres (or 10,000) feet. Now you can soon play those online games up in the air.

Speaking of gaming, female gamers make up 44% of the nation’s 591 million gaming population, gaming venture fund Lumikai said in its report.

In other news, co-working space solutions provider Awfis has netted a Rs 36 crore profit and a 40% year-on-year jump in revenue in Q2 as it scaled its footprint. The share price of the public company has risen 78% since its listing in May this year.

Awfis knows how to stay ahead of the curve.

In today’s newsletter, we will talk about 

• Boldcap’s bet on Indian founders
• Unicommerce to buy Shipway 
• Marieen Vijay’s fight for a better world

Here’s your trivia for today: Where did the Silk Road start and end?

Startup

Boldcap’s bet on Indian founders

Chennai-based BoldCap, an AI-focused venture capital firm, has launched Bracket for companies beyond its portfolio as a global go-to-market (GTM) platform to help connect Indian entrepreneurs building software companies with GTM leaders in North America and Europe. 

Key takeaways:

• Last year, BoldCap launched its second $25 million fund dedicated exclusively to early-stage SaaS companies, with plans to invest in 15-20 startups over the next two to three years.
• Since its launch in 2023, Bracket has assisted over 15 companies in gaining traction within the US market.
• Originally limited to BoldCap’s portfolio companies, Bracket is now selectively welcoming other cross-border-focused startups into its network.

<Funding Alert>

Startup: Bhanzu 

Amount: $16.5M

Round: Series B

Startup: Equal 

Amount: $10M

Round: Series A

Mergers and acquisitions

Unicommerce to buy Shipway

Ecommerce enablement SaaS platform Unicommerce is acquiring Shipway to boost its tech prowess. 

In the first phase, the SoftBank-backed company will acquire a 42.76% stake in ecommerce tech firm Shipway for Rs 68.4 crore. The company plans to secure the remaining stake within a year, either through a merger or a stock swap, to complete a 100% stake acquisition.

Deal:

• With the acquisition, Unicommerce will expand its product portfolio to include solutions for courier aggregation, shipping automation, and returns reduction. 
• This move will also allow Unicommerce to offer an integrated marketing platform featuring AI-driven, automated tools to enable brands and retailers to reach buyers through personalised, segmented campaigns and increase conversions. 
• In addition, Gurugram-based Shipway’s team will continue to expand both the Shipway and ConvertWay businesses.

Inspiration

Marieen Vijay’s fight for a better world

From a young athlete defying societal expectations to a relentless advocate for animal rights and a pioneer in women's self-defence training, Marieen Vijay has lived a life of transformative action.

Key takeaways:

• Vijay's journey into animal welfare began in earnest in the mid-1990s when she co-founded People for Animals in Chennai. At that time, the city's corporation used electrocution to control the stray dog population, with nearly 20,000 dogs being killed annually. 
• Inspired by the book ‘Heads and Tails’ by Maneka Gandhi, Vijay embraced veganism at the age of 22.
• During the COVID-19 pandemic, she realised the urgent need for practical self-defence skills, especially for young women. Drawing from her training, she began offering her Iron Lady self-defence workshops that focused not just on physical techniques but also on mental preparedness. 

News & updates

• Crypto euphoria: Bitcoin's post-election rally gained steam on Monday, with the original cryptocurrency hitting a new all-time high above $82,000. Markets are betting on a strong chance for Bitcoin to hit $100,000 by the end of this year, suggesting a rally with ongoing legs.
• Trade deficit: External Affairs Minister S Jaishankar on Monday called for “urgent” measures to address the issue of widening trade deficit between India and Russia. While India's exports to Russia stood at only $2.24 billion in April-August this fiscal, imports soared to $27.35 billion during the period. The trade deficit is aggregated at $25.11 billion.
• Navigation tech: Amazon is developing smart eyeglasses for its delivery drivers to speed up the final stage of an order’s delivery, according to a Reuters report. The glasses aim to guide drivers around and within buildings by providing turn-by-turn navigation on a small embedded screen.

Where did the Silk Road start and end?

Answer: The Silk Road started from the Chinese capital city of Chang’an (today’s Xi’an) and reached the Roman Empire via Parthia.

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