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Source: Tech Crunch

Spotify now has over 300M subscribers

Startups

Spotify has surpassed 300 million subscribers and 777 million monthly active users, with quarterly revenue rising 14% to €4.8 billion. Despite price increases and backlash over AI-generated music, the platform continues to grow. Spotify is diversifying its content and heavily investing in AI, launching tools for personalized podcasts, conversational assistants, and remixing capabilities, while implementing artist verification systems to address user concerns regarding synthetic audio.

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Nykaa net profit soars over 3X, revenue up 29% in Q1

Startups

Nykaa reported a strong first quarter for FY27, with net profit surging over threefold to Rs 79.76 crore and revenue rising 29% to Rs 2,782 crore. While the beauty segment remains the primary profit driver, the fashion segment saw 48% growth despite ongoing losses. Additionally, Nykaa is acquiring a 51% stake in skincare brand Aminu for Rs 32 crore and expanding its AI-driven consumer experiences.

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NCPCR to probe Meta over child abuse ads on Instagram

Startups

"The National Commission for Protection of Child Rights is launching a formal inquiry into Meta after advertisements linked to child sexual exploitative material appeared on Instagram in India. Following a BBC Eye investigation, the commission aims to determine how these ads bypassed Meta's review systems. Simultaneously, the Ministry of Electronics and Information Technology is investigating, testing whether platforms face higher liability for paid advertisements than user-generated content.".

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Source: Tech Crunch

India moves to give its instant payments network a business model

Startups

India is introducing legislation to potentially overhaul its Unified Payments Interface (UPI) business model by allowing merchant fees on certain transactions. Since 2020, a zero-merchant-discount-rate policy has driven adoption, but rising infrastructure costs have made this unsustainable for banks and fintechs. While consumer payments remain free, targeting high-value transactions could generate significant revenue, supporting further innovation and global expansion for the ubiquitous payments network.

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Source: Tech Crunch

Is the future of data centers portable? Runware builds a pod to find out

Startups

"Runware has launched the Sonic Inference Pod, a modular, transportable data center designed for flexible AI inference. These pods offer a lower-cost, water-free alternative to traditional data centers, allowing for rapid deployment and scaling closer to end users. With ten pods already active globally and 160 potential sites, Runware aims to meet growing AI demand through a distributed network that reduces grid strain and infrastructure delays.".

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Source: Tech Crunch

EON wants to move the data superhighway from ocean fiber to space lasers

Startups

Endeavor Optical Networks, a startup with $10.75 million in seed funding, aims to replace brittle undersea fiberoptic cables with a laser-equipped satellite network. Targeting hyperscalers and AI labs, the company plans to link global data centers via space-to-ground optical communications. EON intends to launch a demo satellite by 2027, focusing on high-throughput capacity and underserved routes to provide a resilient alternative for massive data transit.

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Govt to raise CSAM lapses, wrongful account action issue with Meta; global team in India on Aug 5-6

Startups

The Indian government will meet Meta's global team on August 5 and 6 to address several critical concerns. Key issues include the failure to curb Child Sexual Abuse Material, algorithmic bias, and the wrongful restriction of Prime Minister Narendra Modi's social media post. IT Secretary S Krishnan emphasized the need for better safeguards and strict compliance with Indian laws to ensure national security and public order on the platform.

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Source: Tech Crunch

Bending Spoons to buy Airtable for $1.28B

Startups

Bending Spoons has agreed to acquire spreadsheet and database startup Airtable for $1.28 billion in cash. This marks Bending Spoons' first acquisition since going public in July at an $18 billion valuation. Airtable, which serves over 500,000 organizations including 80% of the Fortune 100, has seen its valuation drop from a peak of $11 billion. Bending Spoons typically acquires discounted brands to streamline operations and increase profitability.

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VC funding in July rises 29% YoY but declines sharply from June

Startups

India's venture capital funding dropped 61% in July to $804 million across 98 deals, following a strong June. Despite a 29.4% year-on-year increase, large-scale funding remains challenging, with only Emergent and Udaan securing over $50 million. Early-stage startups showed the most traction, while the late-stage market remained muted. Marketplace, fintech, and aerospace led sector funding, with Bengaluru, Delhi-NCR, and Mumbai remaining the primary hubs.

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Fintech platform GetVantage raises Rs 63 Cr in Series A1 round

Startups

"B2B fintech platform GetVantage has raised Rs 63 crore in a Series A1 funding round co-led by Rajeev Ahuja and SanRaj Group. The company will use the capital to scale its Capital Gateway, an API ecosystem enabling embedded financing for B2B e-commerce and logistics hubs. By utilizing predictive analytics and alternative data, GetVantage provides MSMEs with seamless access to cash-flow-based financing, reducing reliance on traditional collateral.".

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Why India pays highway builders even when roads stay empty

Startups

India introduced the Hybrid Annuity Model (HAM) to replace the failed Build-Operate-Transfer system for national highways. Under HAM, the government funds 40% of construction and assumes all traffic and toll revenue risks, paying developers through inflation-indexed annuities. While early projects saw high completion rates, newer ventures face significant delays due to land acquisition issues and funding constraints for some developers, highlighting remaining systemic challenges.

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Bengaluru INDIA NANO 2026: AI meets nanotechnology

Startups

The 14th Bengaluru INDIA NANO conference recently opened in Bengaluru, focusing on the convergence of nanotechnology, artificial intelligence, biotechnology, and semiconductors. Inaugurated by Chief Minister D.K. Shivakumar, the event emphasizes translating scientific research into commercial products. With over 800 delegates and 80 speakers from ten countries, the conference features tracks on semiconductors, healthcare, and sustainable energy to drive economic growth and deep-tech innovation in Karnataka.

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Nazara Tech slips into Rs 82.5 Cr loss in Q1; Nitish Mittersain steps down as CEO

Startups

Nazara Technologies reported a Q1 FY27 consolidated net loss of Rs 82.47 crore, primarily due to associate losses and impairments. Despite a 14% revenue decline to Rs 428.77 crore, core gaming grew 14%. The company appointed Raymond Albaladejo Stauffer as CEO, succeeding Nitish Mittersain. Additionally, Nazara revised its acquisition of Bluetile Games and BestPlay Systems to 100% ownership for $303.02 million to ensure full operational integration.

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HYLENR is developing low-energy nuclear reactors to produce industrial heat

Startups

Hylenr Technologies, an Indian firm, claims to have developed a low-energy nuclear reactor producing excess heat through hydrogen fusion. Despite a public demonstration and an Indian patent, the company's results lack peer-reviewed validation or independent reproduction. Hylenr recently raised Rs 26 crore and partnered with TakeMe2Space for orbital testing. While led by experienced scientists, the technology remains controversial given the historical failure of cold fusion.

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Vimag Labs is building an electric motor that works without rare-earth magnets

Startups

Bengaluru-based Vimag Labs has developed the Virtual Magnet Synchronous Motor to eliminate reliance on rare-earth elements in electric vehicles. By generating magnetic fields electronically via software and a rotating transformer, the design reduces supply chain risks and increases adaptability. Having raised $5 million led by Accel, the company is now conducting pilot projects with vehicle manufacturers and expanding into industrial systems to commercialize its prototype.

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DeepLase makes fibre lasers and specialty optical fibres for industrial use

Startups

DeepLase Technologies, a New Delhi startup founded by IIT Delhi's Dr. Deepak Jain, aims to build India's photonics infrastructure by developing specialty optical fibres and fibre-laser platforms. Addressing the country's reliance on imports, the company focuses on creating reliable, industrial-grade systems for automation, healthcare, and quantum technologies. DeepLase recently raised Rs 6 crore in seed funding to expand its manufacturing capacity and commercialize its products.

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Several WhatsApp users say their accounts 'put under review'

Startups

"WhatsApp recently placed numerous accounts, including several in India, under a 24-hour review, blocking all app features without prior warning. Affected users took to social media to report the sudden disruptions and generic appeal responses. A WhatsApp spokesperson explained that while the company bans accounts to prevent service abuse and ensure safety, errors occasionally occur, and they work to resolve these mistakes as quickly as possible.".

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7 Books that change how you view time and your future

Startups

The article explores how our perception of time influences our goals and priorities, recommending seven books to shift this perspective. Works like "Four Thousand Weeks" and "Essentialism" encourage accepting limitations and prioritizing essential tasks, while "Die with Zero" and "The Top Five Regrets of the Dying" emphasize experiences and authenticity. Together, these texts challenge readers to reconsider their relationship with time to live more meaningful lives today.

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Bringing India’s forgotten games back to life; MobiKwik posts Rs 7.6 Cr net profit

Startups

Google selected 20 AI startups for its Play Accelerator India program to scale AI-first apps. Ather Energy significantly reduced its Q1 FY27 net loss, while MobiKwik reported a Rs 7.6 crore profit. Drone maker ideaForge secured financing for its YETI platform. Meanwhile, Alibaba launched the Qwen3.8-Max AI model. Other updates include Microsoft raising Xbox prices and ArcelorMittal expanding its IT partnership with Microsoft using Azure platforms.

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Source: Tech Crunch

After killer quarter, Palantir CEO Alex Karp calls AI industry ‘Marxist’

Startups

Palantir CEO Alex Karp warned that AI frontier labs are untrustworthy, claiming they seek to capture the means of production from enterprise partners. Despite these concerns, Palantir reported record-breaking second-quarter results, with $1.9 billion in revenue and $1.1 billion in profit. Karp advocates for model-agnostic software that allows organizations to maintain control over their data and intellectual property, avoiding dependence on potentially competitive AI labs.

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