Good morning. Early bird here, bringing you the usual order of business: top trends and insights on markets, ventures, and misadventures.

In this edition:

• 🏏 A new revenue surge in fantasy sports

• 🍏 Apple’s first India store will be in Mumbai

• 👀 J&J’s near $9M liability settlement

MARKETS

*Stock data as of market close. Source.

• Markets: Nifty smashed through its 200-day exponential moving average with bullish force. There’s plenty of sentiment out there that the index will continue its upward trend and reach its next resistance level at 17,600-17,800.

SPORTS

IPL drives revenue surge in fantasy sports

🏏 Do you like cricket? Good.

With the Indian Premier League (IPL) season in full swing, fantasy sports are expected to see a surge in revenue, rising by 30-35% to INR 2,900-3,100 crore ($388-414 million USD) compared to last year's IPL.

Living the dream. The demand for online fantasy sports is driven by the ability to win real money by playing virtual games, along with the excitement of following a team or player's progress throughout the season.

The future of fantasy sports in India. As the popularity of fantasy sports continues to grow, it has the potential to become a billion-dollar industry in India. The industry is already attracting investments from large investors, such as Tencent and Steadview Capital.

In Conclusion

The IPL season is set to bring in significant revenue for the fantasy sports industry in India, giving sports gaming hubs a window of opportunity to score big this season.

TECH

Apple’s first India store will be in Mumbai

At long last

🍏 The wait is finally over for Apple fans in India as the company is set to open its first brick-and-mortar store in the country. Here’s the scoop:

• Location: The store will be located in Mumbai, one of India's largest and most populous cities. More specifically, it’ll be in Jio World Drive in BKC

• This move marks a significant milestone for Apple, which has been working to expand its presence in the Indian market for several years.

• With the opening of the Mumbai store, Indian consumers will have easier access to a wider range of Apple products and services, which is kind of a no-brainer considering lots of iPhones will be Made in India.

With the Indian market offering a huge potential for growth, it is no surprise that Apple is eager to tap into this market.

INDIA EDITION: WHAT ELSE IS ON THE BIRDWATCH

• 🌿 Government O-Ks 250 GW buff to renewables. The government has announced plans to add 250 GW of renewable energy capacity over the next five years. That's equivalent to powering the entire country of Brazil!

• Adani Ports snags cargo volume high score. Looks like someone had a good year. Adani Ports has reported a 9% growth in cargo volume, topping the charts as the largest port cargo volume ever.

• TVS Company arm to take quarter stake in German EV firm. TVS Motor Company is gearing up for an electrifying acquisition. The Indian motorcycle giant's arm, TVS Motor (Singapore) Pte, is set to purchase a 25% stake in German EV firm, KILLWATT GmbH.

FUNDING DEALS

Catch up on the Indian funding flows from the past 24hrs:

• SpendFlo, the SaaS buying and management platform, just hauled in $11M from a Series A round, which will be used to fast-track expansion and product growth.

• Vigyo's Centre, an adtech platform just raised Rs 1 crore from Japan-based investors. The startup plans to use the new funds to expand its team and dig deeper into the space through more R&D.

• Magenta Mobility, an EV transportation service, has charged up its funding with a $22M investment from BP and Morgan Stanley, which will go into fleet capital and further expansion.

WORLD

Headline Explorer

👀 J&J’s near $9M liability settlement. Johnson & Johnson has proposed to pay a massive $8.9M to settle lawsuits alleging that its talcum powder had caused cancer. If approved, the proposal would be one of the priciest ever in terms of product-liability settlements in the US.

🎮️ Amazon lays off 100 staff in game division. Amazon's video game unit has been hit with layoffs, with 100 employees being let go in the most recent round of cuts. This move comes as part of Amazon wider scope of cost-cutting measures globally.

🪧 The Google London rally. Google's London offices were rocked by a walkout of employees protesting the mass layoffs. The disgruntled crowd of hundreds took to the streets to demand full recognition of their labor rights.

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