How a $250 million acquisition collapsed into allegations of fraud and forged signatures

Source: Tech Crunch

How a $250 million acquisition collapsed into allegations of fraud and forged signatures

Startups

Minute Media terminated its $250 million acquisition of AI clipping startup VideoVerse following allegations of widespread fraud. Founder Vinayak Shrivastav faces multiple lawsuits from investors, creditors, and a former executive, who claim he forged documents and misappropriated millions of dollars. While VideoVerse initially appeared successful with high-profile clients, the deal collapsed amid discoveries of significant discrepancies, leaving investors and creditors seeking restitution in court.

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Uber Freight reportedly investigating after hacking group claims data breach

Startups

The Helix hacking group claimed responsibility for a data breach at Uber Freight, stealing mailboxes, cloud storage, and dispatch documents. Uber Freight stated that business operations remain unaffected. The hackers, part of the UNC6671 collective, typically use voice phishing to gain system access. Google reports that Helix has collected over $10.6 million in ransoms this year by targeting transportation and financial firms through social engineering tactics.

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Mesh, Automattic’s CRM for everyone, comes to Android

Startups

Automattic's personal CRM, Mesh, has launched on Android, offering network visualization and contact management tools. The app supports platform-specific features like split-screen views and widgets, with real-time synchronization across devices. Mesh integrates with the Beeper messaging app and introduces Nexus AI to help users navigate large networks. Supported by subscriptions, the service prioritizes privacy and targets both business executives and individual consumers via Google Play.

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Why Stream ring-maker Sandbar says the future of AI wearables is voice

Startups

AI notetaking hardware is evolving from pendants and pins to wearables like rings. Sandbar, the startup behind the private voice ring Stream, has raised $36 million, including a $23 million Series A led by Adjacent and Kindred Ventures. In a TechCrunch Equity podcast, CEO Mina Fahmi discussed the challenges of previous voice devices and his belief that prioritizing human control is essential for the success of wearable technology.

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Bank Of America To Buy 49.9% Stake In Jio Financial Services’ NBFC Arm For $1.9 Bn

Business

Bank of America's subsidiary, NB Holdings, has signed a joint venture agreement to invest up to ₹18,268.2 crore in Jio Financial Services' NBFC arm, Jio Credit. The US bank will acquire up to a 49.9% stake, starting with an initial 26.5% holding. This partnership aligns with JFS's strategy of collaborating with global firms like BlackRock and Allianz to scale its fintech operations and expand financial access in India.

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Tesla wants to build a $10B solar factory in Texas

Startups

Tesla plans to build a massive solar panel factory, Project Crystal Sun, southwest of Houston, Texas. The project could cost up to $10.1 billion and create approximately 9,700 full-time jobs. Tesla is seeking tax incentives to offset costs, aiming for completion by 2028 with production starting in 2029. This facility supports Tesla's goal of establishing 100 gigawatts of solar manufacturing capacity across the United States by 2028.

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Form Energy raises $750M to build more 100-hour batteries for the grid

Startups

Battery startup Form Energy raised $750 million to expand its West Virginia manufacturing capacity. Specializing in iron-air batteries that provide long-duration storage for up to 100 hours, the company offers a cheaper, non-Chinese alternative to lithium-ion technology. Driven by the AI data center boom and rising electricity demand, Form Energy has secured major clients like Google and seen its commercial project backlog grow fourfold.

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Lovable confirms new $13.3B valuation, raises another $400M

Startups

European vibe-coding startup Lovable has raised $400 million in a Series C round led by Menlo Ventures and the Scaleup Europe Fund, reaching a $13.3 billion valuation. The company reported $500 million in annualized run rate revenue in June and currently hosts 60 million projects with 900 million monthly visitors. Lovable utilizes an in-house AI model and recently signed a multiyear agreement with Google Cloud to expand its infrastructure.

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Facebook officially rolls out its standalone Creator Studio app with AI tools for creators

Startups

"Facebook has launched the AI-powered Creator Studio app for iOS users in the United States and Canada. Designed to compete with TikTok and YouTube, the app provides creators with personalized growth tips, performance insights, and an AI assistant for managing community engagement. Key features include automated comment drafting and a daily priorities feed, helping creators optimize their content strategy while reducing reliance on third-party AI tools.".

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Karnataka unveils Tathyakosh, putting 1.5 million datasets on one searchable platform

Startups

The Government of Karnataka has launched Tathyakosh, a non-commercial Digital Public Good designed to simplify the discovery of public data. The platform indexes over 1.5 million datasets from 458 repositories across 16 sectors, including health and agriculture. By providing a searchable interface and quality assessments, Tathyakosh helps researchers, developers, and policymakers access critical information to advance India's AI capabilities without storing the data itself.

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After Microsoft threatened legal action, a security researcher publishes a new Windows zero-day bug

Startups

Security researcher Nightmare Eclipse has disclosed a new zero-day vulnerability in Windows called ShieldBreak. The flaw targets Windows Defender, allowing attackers to escalate permissions for full system and data access on Windows 10, 11, and Windows Server 2025. This exploit bypasses a previous patch for the RoguePlanet bug. Microsoft has not yet released a fix, amid ongoing tensions with the researcher over bug disclosure policies.

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Silkroad Innovation Hub’s Road to Battlefield competition continues

Startups

The second annual Road to Battlefield competition, organized by Silkroad Innovation Hub and partners, aims to connect Central Eurasian founders with TechCrunch Startup Battlefield 200 in San Francisco. This year saw a record 726 applications from 39 countries, with AI products dominating 84% of entries. Twenty-two finalists will compete on August 12 for investment prizes, OpenAI credits, and a trip to the global stage at TechCrunch Disrupt.

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Cursor To Open First India Office By 2026 End: Report

Business

US-based AI coding company Cursor plans to open its first Indian office by the end of the year, focusing on the Greater Bengaluru region. India is currently Cursor's third-largest market, boasting over 3 million developers and a high concentration of power users. This expansion, which includes a new local subscription plan, coincides with increased competition from global players like OpenAI and Anthropic, as well as local firm Sarvam.

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DevX Q1 Profit Jumps To ₹1.5 Cr Despite A 3.3% YoY Dip In Revenue

Business

Coworking provider DevX reported a Q1 FY27 net profit of ₹1.5 crore, a tenfold increase year-over-year but an 81% sequential decline. Operating revenue fell to ₹53.8 crore, down 3.2% YoY. The company's board approved raising up to ₹100 crore through non-convertible debentures and diversifying its business into managed office spaces and facility management. DevX shares closed 1.85% lower at ₹35.02 on the BSE.

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From Namakkal to Bombay House: Journey of Tata Sons Chairman N Chandrasekaran

Startups

N Chandrasekaran, Chairman of Tata Sons, rose from joining TCS in 1987 to becoming its CEO in 2017, where he established the company as India's top IT services firm in revenue and profit. Since leading Tata Sons, he has focused on debt reduction, business consolidation, and digital expansion. His tenure includes ventures into semiconductors and electronics, though the Air India acquisition remains a significant challenge.

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Google unveils Pixel 11 lineup, new AirTag rival, and Gemini features at Made by Google 2026

Startups

"At the Made by Google 2026 event, Google unveiled the Pixel 11 series, including a more durable Pro Fold and a standard model starting at $899. New Gemini-powered AI features include ASL translation and the Rambler voice-input tool. The company also introduced the Pixel Tag for item tracking and the Pixel Watch 5, which offers enhanced health monitoring for blood pressure and insulin resistance trends.".

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Google’s Quick Share adds a tap-to-share mode

Startups

"Google has launched an updated Quick Share feature, enabling Android users to exchange contacts, photos, and videos by bringing compatible devices together. Similar to Apple's NameDrop, this "instant, two-way exchange" simplifies file sharing. The update is currently rolling out for Pixel 6 and newer models, with support expanding to Samsung Galaxy Z Fold8 and Flip8 series soon, and more devices expected to be compatible by year-end.".

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Google’s new Pixel 11 Pro Fold offers a stronger build and brighter screens

Startups

Google unveiled the Pixel 11 Pro Fold, featuring a stronger hinge and a lighter, thinner design. The device boasts brighter displays, including a Super Actua outer screen with 3,600 nits peak brightness. While the battery capacity decreased to 4,750 mAh, it adds 25W wireless charging. Powered by the G6 Tensor chip, it offers a 48-megapixel sensor and 30x digital zoom. It costs $1,899 in Olive or Obsidian.

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Google takes on AirTag with the new $29 Pixel Tag

Startups

Google unveiled the $29 Pixel Tag at its "Made by Google ’26" event, designed to track valuables using the Android Find Hub network. The oval-shaped device features Bluetooth, Ultra Wideband, and an IP67 rating for water resistance. Powered by a replaceable CR2032 battery lasting about a year, it integrates with Pixel Watches and phones. The Pixel Tag launches November 11, 2026, priced at $29 individually or $99 for four.

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Google’s Pixel 11 lineup offer fewer hardware changes, but much more Gemini

Startups

Google has launched the Pixel 11 series, focusing heavily on agentic AI via Gemini to handle tasks like booking rides and ordering groceries. New features include sign language translation, "Magic Capture" for photos, and the Tensor G6 processor for improved efficiency. The lineup includes the Pixel 11, Pro, and Pro XL, with prices ranging from $899 to $1,299. Devices feature 256GB base storage and updated camera sensors.

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