News in 60 Words

IRCTC doesn't run a single train, and still earns crore-level profits every quarter

Startups • Your story

IRCTC dominates India's railway booking market, controlling 89% of reserved tickets. While catering generates the highest revenue, the digital ticketing platform provides superior profit margins due to low operational costs. By acting as a commercial gateway, IRCTC leverages its ticketing ecosystem to sell ancillary services. In FY2025-26, the company reported ₹5,215 crore in revenue and ₹1,393 crore in profit, capitalizing on its strategic position.

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The essay explores the distinction between the duration of one's life and the quality of the experiences within it. Referencing a quote by Edward J. Stieglitz, the author argues that many people live on autopilot, repeating routines without growth. To avoid a blurry existence, individuals should prioritize intentionality, meaningful risks, and personal development, as the content of one's years is more controllable than their length.

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Banofi, a climate-tech startup founded by Jinali Mody, converts banana stem waste into a sustainable leather alternative. Based in India, the company reduces water and carbon emissions significantly compared to traditional leather while providing new income streams for small-scale farmers. After winning the $1 million Hult Prize and a UN award, Banofi has piloted its material with over 150 brands, including a grant from Mercedes-Benz.

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At the MSME Sparks 2026 finale in Bengaluru, Google Cloud's Nikhila Gudipati highlighted how Gemini Enterprise addresses the "toggle tax" caused by siloed business applications. By utilizing AI agents to automate routine workflows and data analysis, businesses can focus on strategic decisions. Gudipati advised MSMEs to begin with low-stakes, reversible tasks, emphasizing that security remains a primary differentiator for the platform's enterprise AI offerings.

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Google Cloud's Gemini Enterprise for Customer Experience enables MSMEs to build intelligent, no-code AI agents in under an hour. These agents automate customer queries, order tracking, and lead qualification, allowing lean teams to deliver enterprise-grade support. By removing technical and financial barriers, the platform democratizes AI, helping smaller businesses improve operational efficiency and customer satisfaction while competing more effectively with larger enterprises through rapid, visual configuration.

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Avendus Future Leaders Fund III (FLF) has invested approximately Rs 140 crore in Parag Parikh Financial Advisory Services (PPFAS) through a secondary transaction. PPFAS, an equity-oriented asset management company, manages a flagship fund with Rs 1.43 lakh crore in assets. Meanwhile, FLF is on track to reach a final close of Rs 1,800 crore this month, having already deployed 30% of its capital into market-leading businesses.

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Foam Home, a trusted Indian mattress brand celebrating 50 years, has launched Circadia to address India's growing sleep crisis. Moving away from standardized specifications, Circadia focuses on personalized sleep solutions based on individual body types and lifestyles. Developed with Technogel Italy, the collection blends five decades of craftsmanship with global material science, offering an ergonomic approach to restorative sleep and long-term wellbeing for discerning consumers.

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The Digital Threat Report 2025-26 warns that traditional cybersecurity models are inadequate for today's interconnected financial ecosystem. As banking shifts toward AI-driven decision-making, real-time payments, and embedded finance, the attack surface has expanded into a distributed mesh. Threat actors are now exploiting trust-chain manipulations and gaps between systems, where a single identity compromise can grant persistent, cross-platform access across multiple services and institutions.

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"Hyderabad-based Dhurva Space has become the first recipient of investment from the Antariksh Venture Capital Fund (AVCF), receiving Rs 60 crore. Managed by SIDBI Venture Capital Limited under IN-SPACe, the fund possesses a corpus exceeding Rs 1,000 crore. Dhurva Space will utilize the capital to expand its full-stack space engineering capabilities, enhance sovereign spacecraft manufacturing, and scale infrastructure to support India's growing space-tech ecosystem and commercialization.".

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Startups • Connie Loizos

Successful entrepreneurs and executives are returning to operational roles to capitalize on the AI revolution. High-profile figures like Tom Blomfield, Mike Krieger, and Andrej Karpathy have joined Anthropic, while others like Chamath Palihapitiya and Eric Wu are launching AI startups. Driven by the technology's formative potential, these veterans are even accepting non-hierarchical titles to work at the frontier of large language models.

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Tarun Singh, Managing Director of Highbrow Securities, advised MSMEs at MSME Sparks 2026 that IPO readiness extends beyond revenue milestones. He emphasized that companies should avoid going public due to funding shortages, instead focusing on strong governance, financial stability, and a clear investment narrative. Singh stressed that an IPO is an entry into public accountability, requiring founders to articulate their future conviction and manage risks effectively.

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Lavanya Nalli, Chairperson of Nalli Group of Companies, has modernized the century-old retailer by integrating ecommerce and expanding internationally while preserving core brand values. By prioritizing high-resolution imagery to build online trust and avoiding discounting and private equity, the company has grown to over 48 stores. Nalli emphasizes customer-centric product innovation and decentralized leadership to maintain operational insights and sustainable, self-funded growth.

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Over 200 researchers are urging governments to address AI's economic risks and job displacement. Meanwhile, the EU proposes tiered social media access for children, and India seeks stronger cybersecurity. In business, Bharti Airtel and Meta are expanding digital infrastructure. Additionally, new Indian startups Corumm and The Good Doll are focusing on preventive mental wellness and sustainable rural livelihoods, respectively, reflecting a broader trend toward holistic and social growth.

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Startups • Connie Loizos

Uber is expanding its platform beyond ride-hailing and delivery to include travel services like hotel bookings and boat rentals. The company is also venturing into financial services for drivers and merchants. Additionally, Uber launched AV Labs to collect driving data for autonomous vehicle partners and is leveraging its earner base to provide data-labeling services for generative AI companies, aiming to create a comprehensive "everything app" ecosystem.

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Startups • Ivan Mehta

Singapore-based video generation startup PixVerse has raised $439 million in a Series C extension, bringing its valuation above $2 billion. The company plans to use the funds to expand its world model offerings, increase global outreach, and hire additional staff. With over 150 million registered users, PixVerse offers specialized video models for consumers and professionals, leveraging advanced data labeling expertise to compete in a crowded market.

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Startups • Lucas Ropek

X has updated its algorithm to prioritize posts from "mutuals," aiming to foster a stronger sense of community and reduce conflict in reply sections. Head of product Nikita Bier stated this change helps interest-based clusters form more easily. This move follows other creator-focused updates and mirrors efforts by Meta’s Threads, which recently introduced user-controlled feed settings and reached 500 million monthly active users to differentiate itself.

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Startups • Ivan Mehta, Marina Temkin

Nous Research, the creator of the open-source Hermes AI agent, is finalizing a funding round of at least $75 million led by Robot Ventures and USV. This deal values the startup at $1.5 billion, coming shortly after its $50 million Series A. The funds will expand the Hermes ecosystem, an agent known for its built-in skills and high GitHub popularity, as well as the company's broader business model.

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Startups • Julie Bort

Microsoft CEO Satya Nadella warns that enterprises using proprietary AI models risk leaking sensitive business intelligence, effectively paying for intelligence with both money and proprietary data. He argues that model makers use customer "exhaust" to improve their systems, potentially becoming competitors. Consequently, many companies are shifting toward open-source models and on-premise installations to retain data ownership and avoid vendor lock-in while maintaining operational control.

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Startups • Zack Whittaker

Apple is suing OpenAI, alleging a former employee, Chang Liu, stole trade secrets after joining OpenAI. Liu allegedly exploited a zero-day authentication bug to access Apple's network post-employment, siphoning confidential files about unreleased products. Apple claims Liu also misused an acquaintance's access. The company has since fixed the vulnerability, highlighting challenges in protecting corporate data from former staff.

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Startups • Sarah Perez

Apple has filed a lawsuit against OpenAI, alleging a coordinated effort to steal trade secrets from current and former employees. The complaint claims OpenAI encouraged staff to misappropriate confidential data, physical prototypes, and design artifacts to build its own hardware. Apple further alleges OpenAI coached employees to evade security procedures. OpenAI denied the claims, stating it has no interest in other companies' trade secrets.

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Categories

IRCTC doesn't run a single train, and still earns crore-level profits every quarter

Why some years change your life and others simply disappear

How Banofi is turning banana waste into India's answer to leather

When data speaks your language: How Gemini Enterprise is helping businesses move faster

How Google Cloud’s Gemini Enterprise is helping MSMEs build AI agents without writing code

Avendus Future Leaders Fund III invests Rs 140 Cr in PPFAS, eyes Rs 1,800 Cr final close

Foam Home celebrates 50 years with Circadia, redefining sleep for India

AI, identity, real-time payments creating new cyber threat landscape: Report

Dhurva Space receives Rs 60 Cr under Antariksh Venture Capital Fund

Already rich, already successful, why the last wave of tech winners is grinding again

IPO readiness starts long before listing, says Tarun Singh of Highbrow Securities

How Nalli modernized a century-old saree business without losing customer trust

Redefining preventive mental wellness; Building India’s answer to Barbie

Uber’s product chief on hotels, robotaxis, and why the company doesn’t want to be “everything for everyone”

Video generation startup PixVerse raises $439M, valuation soars past $2B

X just tweaked its algorithm to make it more friendly, less battleground

Hermes agent maker Nous Research in talks for new funding at $1.5B valuation

Satya Nadella has issued a shocking warning to companies using AI

Apple says former employee exploited ‘rare’ bug to download confidential files after leaving for OpenAI

The wildest allegations in Apple’s trade secrets lawsuit against OpenAI