Peak XV’s likely windfall from IPOs; Making buildings safer with AI

Hello,

Cloud kitchen startup Curefoods has filed draft papers with SEBI to raise funds via an initial public offering. The IPO will comprise fresh issuance of shares worth Rs 800 crore, and an offer-for-sale of 4.85 crore equity shares by existing shareholders.

Meanwhile, Zomato Co-founder Deepinder Goyal plans to foray into the regional air travel segment with LAT Aerospace, according to a LinkedIn post by the aerospace startup Co-founder Surobhi Das.

Goyal has invested $20 million in LAT Aerospace, the startup he co-founded with former Zomato Chief Operating Officer Das. The venture aims to bring about a change in regional air connectivity by building low-cost, short takeoff and landing (STOL) aircraft.​

ICYMI: The last week of June saw a rise in VC activity in Indian startups.

Moving to the world of fashion, luxury fashion giant Prada has acknowledged the ancient Indian roots of its new sandal design after the debut of the open-toe footwear sparked a furore among Indian artisans, Reuters reports.

The controversy began last week when images from Prada's fashion show in Milan showed models wearing leather sandals that resembled handmade Kolhapuri slippers.

Lastly, longtime Vogue powerhouse Anna Wintour recently said she is stepping down as Vogue editor-in-chief.

The end of an era!

In today’s newsletter, we will talk about 

• Peak XV’s likely windfall from IPOs
• Making buildings safer with AI

Here’s your trivia for today: Which form of Chinese originated in Guangzhou?

Venture capital

Peak XV’s likely windfall from IPOs

One of India’s top VC firms, Peak XV Partners, hopes for strong returns from a string of upcoming IPOs in its portfolio, even as it navigates top-level churn and gears up to raise a new fund.

Wakefit, Pine Labs, Bluestone, and Groww—the startups the VC has backed—have already filed draft IPO papers with India’s market regulator. Ecommerce company Meesho is expected to soon follow suit after receiving shareholders’ approval for a Rs 4,250 crore issue, according to reports. 

Key takeaways:

• While Groww has opted for a confidential IPO filing, Peak XV is expected to participate in its offer for sale, according to multiple industry sources.
• In Pine Labs, Peak XV Partners isn’t just the top seller—it’s also set to be the biggest winner among institutional investors selling in the IPO via the OFS (offer for sale).
• The VC’s average cost per share is just Rs 5.60—dramatically lower than what other selling shareholders like PayPal, Mastercard, and Invesco paid, which ranged from Rs 77 to Rs 243 apiece.

Startup

Making buildings safer with AI

Founded in 2023,

Resilience AI helps urban bodies, governments, and companies figure out which buildings or infrastructure in their cities are most vulnerable to disasters like floods, earthquakes, heatwaves, and landslides. The startup also provides solutions to mitigate issues in the infrastructure. 

Strong foundation:

• Resilience AI’s flagship product, Resilience360, is a software platform that helps users figure out how likely a structure is to suffer damage in the next big flood or earthquake, and how to prevent that.
• Its software pulls out data from satellites, weather records, sensors, and building maps and shows which buildings are at risk the most.
• In Bihar and Delhi, the Resilience platform flagged flood and earthquake risks in important public buildings. In Visakhapatnam, it mapped the vulnerability of coastal zones.

News & updates

• Chip stock: Nvidia insiders sold over $1 billion worth of company stock in the past year, with a notable uptick in recent trading activity as executives capitalise on surging investor interest in artificial intelligence, the Financial Times reported.
• Smoke free: France has struggled to kick its smoking habit. A new public health decree published Saturday aims to change that. In the coming days, smoking will be banned in all French parks and sports venues, at beaches and bus stops, in a perimeter around all schools, and anywhere children could gather in public.

What you should watch out for

BRICS Summit: Prime Minister Narendra Modi will embark on a five-nation tour beginning July 2 to participate in the BRICS Summit in Brazil and expand India's ties with several key nations of the Global South.

US Tariffs: Although markets seem to be in a positive mood, the upcoming US tariffs are expected to cause some jitters. President Donald Trump late last week said he may not stick to the deadline in early July when massive US tariffs are set to snap back into effect on several countries.

Which form of Chinese originated in Guangzhou?

Answer: Cantonese

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