Meesho sees 36% rise in Rakhi orders as non-metro India drives festive shopping

Source: Your story

Meesho sees 36% rise in Rakhi orders as non-metro India drives festive shopping

Startups

Meesho saw a 36% year-on-year increase in orders and a 38% rise in gross merchandise value during the Raksha Bandhan season. Non-metro markets drove this growth, accounting for 73% of orders, with Tier III and IV cities leading. Prepaid payments rose to 58%, while the number of Rakhi sellers grew by 72%. Personalised products, including name Rakhis, emerged as a key trend among consumers in smaller towns.

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Startup news and updates: Daily roundup (August 28, 2026)

Startups

YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Friday, August 28, 2026.

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22 Rejections, Then Georgetown: A Bihar 19-Year-Old's Rs 3.5 Crore Scholarship

Startups

Adarsh Kumar, a student from Bihar, India, has joined Georgetown University in Qatar on a full scholarship after overcoming significant financial hardships and numerous academic rejections. The first Indian to win the $100,000 Chegg.org Global Student Prize, Kumar co-founded Skillzo to provide mentorship to underserved students. He now aims to study political science and economics to address institutional failures in his home state.

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As electric two-wheelers gain a foothold, Belgian startup Any bets on cargo space

Startups

Belgian startup Any has introduced the LUV1, a modular electric motorcycle designed to challenge urban car dominance. Termed a "life utility vehicle," the LUV1 combines a 120-liter cargo capacity with a top speed of 100 km/h and an 87-mile range. Starting at €7,000, the vehicle requires only an A1 license. After securing 600 reservations and €2.75 million in funding, Any is now seeking a €10 million Series A.

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Flipkart Minutes cashes in on last-minute shopping, sees 3X spike during Raksha Bandhan

Startups

Flipkart Minutes reported a threefold increase in festive shopping during Raksha Bandhan, driven largely by Gen Z shoppers who made up over 40% of customers. Rakhis saw a massive 20X growth, with over 2,000 sold per minute. Popular items included gold coins, electronics, and ethnic wear. Demand spanned major metros and smaller markets, highlighting the rising role of quick commerce in fulfilling last-minute gifting needs.

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Uber, Eternal, Porter Exit Karnataka Gig Workers Welfare Board: Report

Business

Uber, Eternal, and Porter have withdrawn from Karnataka’s gig workers welfare board as they legally challenge the state’s Platform-Based Gig Workers Act. The companies argue the law imposes excessive compliance costs and overlaps with central social security frameworks. While the High Court provided interim protection from coercive action, the state continues enforcing the 1% transaction fee. Meanwhile, other platforms like Delhivery and Yulu are joining the board.

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Ola Electric launches S1Z, deliveries to begin in December

Startups

Ola Electric has launched the S1Z electric scooter, starting at Rs 79,999. The vehicle features in-house developed 46-series LFP Bharat Cells and a top speed of 70 kmph. Two battery options are available: a 3.1 kWh variant with a 179 km range and a 5.1 kWh variant offering 301 km. Deliveries begin in December for the base model, while the higher variant arrives in March 2027.

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ESDS IPO Fully Subscribed Within Hours On Day 1

Business

ESDS Software Solution’s ₹720 crore IPO was subscribed 1.02 times on its first day, driven by retail and non-institutional investors. The company, which provides cloud and AI infrastructure, seeks a valuation of approximately ₹5,028 crore with a price band of ₹408-₹429. The issue closes on September 1, with listing expected on September 4. ESDS plans to use ₹576 crore to expand its data center infrastructure.

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Ather share price up 7% after Hero MotoCorp increases stake

Startups

Ather Energy's shares rose over 7% following Hero MotoCorp's decision to invest Rs 1,758 crore, increasing its ownership stake to 32.8%. The electric two-wheeler maker reported strong Q1 FY27 results, with total income rising 87.2% to Rs 1,260 crore and net losses shrinking by 71% to Rs 51 crore. Additionally, the company achieved a positive EBITDA of Rs 9 crore and saw deliveries increase by 80.5% year-on-year.

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Ola Electric Launches S1Z Escooter With Bharat Cell LFP Battery

Business

EV maker Ola Electric has launched its new S1Z electric scooter range with its indigenously developed Bharat Cell lithium iron.

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Fintech Startups To Watch: Startups That Caught Our Eye In August

Business

India's fintech sector in August focused on UPI sustainability, AI integration, and specialized services. While the government debated merchant discount rates for UPI, companies like Razorpay launched AI models for payment intelligence. Investors showed strong interest in wealthtech and SaaS, with significant funding for Centricity and Navi. Additionally, early-stage startups like CoverSure, Fold Money, Komplai, Tap Invest, and The Financialist are innovating in insurance, accounting, and investment management.

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When you cannot change life, learn to change yourself

Startups

When circumstances cannot be changed, changing our perspective, habits, and responses can help us find strength and meaning within difficulty.

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ESDS’ IPO Litmus Test, Even Axes 350 Jobs & More

Business

ESDS Software Solution is launching a ₹720 crore IPO to expand its cloud and GPU capabilities. Meanwhile, PRISM, the OYO parent, reports a 306% profit surge ahead of its own public listing. In other news, Even Healthcare cut 30% of its staff to pivot its business model, InstaAstro raised $12 million, and Deepinder Goyal’s Temple acquired Longevous. Additionally, drone startup Raphe mPhibr is now valued at $900 million.

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AI, athletes, and Keith Rabois: StrictlyVC is back in New York on September 10

Startups

TechCrunch's StrictlyVC series returns to New York's West Village on September 10, co-hosted by Collaborative Fund. The event features a high-profile lineup, including Keith Rabois discussing AI and venture capital, and Deven Parekh of Insight Partners. Other guests include Craig Shapiro, Jason Levien, Tristan Walker, and Brynn Putnam, who will explore sports investments and community-focused startups. The evening will combine fireside chats with networking opportunities for attendees.

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Bill Gates wants AI taxed, jobs reserved for humans

Startups

India's EV market could reach Rs 20 lakh crore by 2030, while The/Nudge Foundation launched a Rs 250 crore impact fund. OYO's parent Prism reported surging profits, and Meta agreed to an $18 billion settlement regarding child addiction. Bill Gates advocated for an AI tax to protect workers, Temple acquired Longevous for longevity research, and Nvidia reportedly agreed to buy Hugging Face for $12.9 billion.

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From software to satellites: Why India's next venture opportunity lies in deeptech

Startups

India's venture capital landscape is evolving from a software-centric model to a deep tech and hardware focus. Startups are now prioritizing frontier technologies like aerospace, semiconductors, and robotics to solve global physical problems. Driven by Generative AI, increased corporate spending, and government initiatives like the Startup India Fund of Funds 2.0, India aims to build defensible intellectual property and compete globally in advanced engineering and manufacturing.

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Anthropic and OpenAI are joining the AI stage at TechCrunch Disrupt 2026

Startups

TechCrunch Disrupt 2026 will feature an AI Stage presented by Google for Startups from October 13–15 in San Francisco. Industry leaders from companies like OpenAI, Anthropic, and AWS will discuss evolving business models, enterprise security gaps, and new job categories like GTM engineering. The event focuses on practical challenges for founders, including sustainable pricing and agentic AI infrastructure, alongside networking opportunities for over 10,000 tech and VC leaders.

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Rivian’s CFO is leaving the company

Startups

"Rivian announced that Chief Financial Officer Claire McDonough will resign at the end of October to pursue a new opportunity and relocate to the East Coast for family reasons. The company stated her departure is not due to any disagreement. Vice President of Finance Derek Mulvey will serve as interim CFO. This transition occurs as Rivian focuses on scaling production and sales for its new R2 SUV model.".

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Bluesky adds an ‘algorithmic opt-out’ feature for those who don’t want to go viral

Startups

Sometimes people just want to post to their followers, Bluesky says.

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Buried in Meta’s $18B settlement is a legal pass on kids’ data

Startups

Meta’s settlement with 29 states allows it to retain certain data from children under 13 to train and test age-detection models, highlighting a privacy tradeoff built into the deal.

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