Apple’s robust India quarter; Giva’s $100 million funding

Thank you for subscribing to Daily Top 5We'll soon meet in your inbox. Daily Top 5Apple's robust India quarter; Giva's $100 million funding Thank you for subscribing to Daily Top 5We'll soon meet in your inbox. Apple posted record sales in India in the September quarter.

This and more in today’s ETtech Top 5. Apple posted record revenues in India, CEO John Ternus said on the company’s earnings call for the September quarter, his first since succeeding Tim Cook. “We also set September quarter revenue records in both developed and emerging markets, in addition to an all-time record in India,” Ternus said.

iPhone sales: Ternus said Apple also set a September-quarter record for iPhone sales worldwide, including the US, mainland China, and India, that helped deliver its best fiscal year ever for upgraders globally. “iPhone revenue was $57.6 billion for the September quarter, up 17% from a year ago, despite supply constraints,” he added.

Record Mac, Services revenues: CFO Kevan Parekh said Mac and Services revenues also hit all-time highs in India. “Mac revenue was $10.8 billion, up 24% year over year, despite supply constraints. This performance was driven by the strength of the MacBook Neo and MacBook Pro.

We saw double-digit growth in both developed and emerging markets, with all-time records in markets like India and Southeast Asia,” he said. The Cupertino-based company earned $30.71 billion, or $2.10 per share, in the July-September period, up 12% from $27.47 billion, or $1.85 per share, a year earlier.

Revenue rose 12% to $114.5 billion from $102.5 billion.Giva raises over $100 million led by Multiples Alternate Asset Management (L-R) Nikita Prasad, Ishendra Agarwal and Sachin Shetty, founders, Giva Fine jewellery brand Giva has raised over $100 million in a round led by private equity firm Multiples Alternate Asset Management, along with participation from existing investors including Epic Capital and Edelweiss Growth Fund.

This funding round is among the largest in the jewellery sector so far. The round was a mix of primary and secondary funding.The company’s early backers like India Quotient and Sixth Sense Ventures exited partially, founder Ishendra Agarwal told ET.

The company did not disclose the round split. Fund use: Giva plans to use the fresh capital to expand its retail footprint across the country, boost manufacturing capabilities, and strengthen its leadership. The company focuses on everyday wear and gifting jewellery made from silver, gold, and lab-grown diamonds sold across online and offline channels.

Chip startup Agrani Labs looks to raise $108 million from Peak XV, Google, Samsung Clockwise from top left: Ashok Jagannathan, Rajesh Vivekanandham, Srikanth Nimmagadda and Dheemanth Nagaraj, founders, Agrani Labs AI chip startup Agrani Labs is in the final stages of closing a $108-110 million round at a valuation of roughly $350 million, people aware of the matter told us.

The round, in the works for several months, is expected to close within the next month.