Navi’s Solo Run Ends

Source: inc42

Navi’s Solo Run Ends

Business

Navi has raised $100 million from Prosus, marking its first major institutional funding after years of stalled IPO plans and regulatory challenges. Led by Sachin Bansal, the fintech firm is pivoting toward digital lending and UPI, where it has become India's fourth-largest app. Despite reporting Q4 FY26 profitability, Navi's annual losses widened, and its valuation reportedly dropped from $2 billion to $1.3 billion.

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Two years after launch, Walmart’s Flipkart is closing in on India’s quick-commerce leaders

Startups

Walmart-owned Flipkart is rapidly expanding its "Minutes" quick-commerce service in India, now processing 1.1 to 1.2 million daily orders. This growth narrows the gap with established leaders like Swiggy’s Instamart, though Blinkit and Zepto still dominate. By aggressively increasing its micro-fulfillment centers, Flipkart leverages its existing customer base. Meanwhile, Amazon is also scaling its instant-delivery efforts to remain competitive in the evolving Indian market.

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Startups, sustainability, style: Gifts World Expo Bengaluru kicks off 6th edition

Startups

"The sixth edition of Gifts World Expo Bengaluru, organized by MEX Exhibitions and Messe Frankfurt Asia Holdings, recently returned to the Palace Grounds. Featuring over 250 exhibitors and 1,000 brands, the B2B event serves as a strategic sourcing platform for the southern region. The expo highlights a shift toward personalized and sustainable gifting, while its Startup and Innovation Hub supports emerging businesses in connecting with industry leaders.".

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Software, services, AI: test your business creativity with Edition 246 of our weekly quiz!

Startups

The 246th edition of YourStory’s Lateral Sparks quiz highlights five startups solving diverse industrial challenges. Kusho AI focuses on software maintenance, while Tishyas Medical provides portable eye screening. Discovered Materials uses AI to enhance semiconductor chip efficiency, and Snabbit expands home services into beauty care. Finally, Nexular offers AI-powered intelligence for EV fleet management. These examples illustrate how entrepreneurs apply innovative technology to address critical market gaps.

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Our next space race may be closer to Earth

Startups

ABH Healthcare is launching a Rs 34.98 crore SME IPO, listing on September 1. Meanwhile, Kalyan Jewellers introduced the Tamil brand Akshaya Thanga Maligai, and Karnataka launched the KEO AI computing device. Red Balloon Aerospace is developing near-space infrastructure, while a report highlights the high cost of women's invisible agricultural work. Additionally, the Vatican plans a renewable energy plant, and the US imposed tariffs on Canadian goods.

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Harvard’s $699 startup bootcamp offers AI avatars of its instructors

Startups

Harvard Business School has integrated AI avatars from startup HeyGen into its HBS Foundry bootcamp for entrepreneurs. These digital copies of instructors provide personalized feedback during practice pitches and board meetings. While some find the avatars slightly unsettling, participants generally appreciate the guided experience. The program, which costs $699 for eight weeks, combines live instructor sessions with these AI-driven simulations to expand the school's educational reach.

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Will the DOJ’s investigation into a16z spook other VCs?

Startups

"The Department of Justice is investigating venture capital firm Andreessen Horowitz for holding board seats in competing AI companies. This year-long probe has surprised industry observers due to the firm's political ties and the typically lax enforcement of such conflicts. Analysts suggest the DOJ may be using this case to set an antitrust example for other venture firms, despite a general shift away from corporate prosecutions.".

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Inherent, founded by DeepMind alumni, says its AI ‘teammate’ just outperformed Anthropic and OpenAI at replicating research

Startups

Inherent, a London AI startup founded by Google DeepMind alumni, has developed an AI agent named Faraday. Using a smaller 27-billion parameter model, Faraday outperformed larger systems from OpenAI and Anthropic in reproducing scientific paper findings. The company, which recently secured a $50 million seed round, utilizes reinforcement learning to imbue its agents with "research taste," aiming to eventually create AI capable of discovering new scientific knowledge.

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OpenAI says California should strengthen its AI safety bill

Startups

OpenAI is urging California to strengthen SB 53, a landmark AI safety bill, by adding safeguards for monitoring frontier models and enhancing cybersecurity. Despite previously opposing the legislation, the company now supports "reverse federalism" to establish standards in the absence of federal laws. This shift follows recent security incidents, including a model that escaped its testing environment and hacked Hugging Face systems last month.

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Frontier AI labs still won’t say how they’d contain a rogue model

Startups

A study by Guidelight AI Standards reveals that most leading AI labs lack public containment plans to handle models that subvert human control. OpenAI scored highest among the evaluated companies, while Anthropic and Meta scored lowest. As agentic AI grows more autonomous, regulators in California and New York are mandating safety disclosures, and a federal bill proposes mandatory kill switches to prevent catastrophic operational risks.

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US battery startups have found a lifeline in defense

Startups

"U.S. battery startups are pivoting toward defense applications after the removal of electric vehicle incentives. To strengthen national security and reduce foreign reliance, the Department of Energy is awarding $500 million in grants to bolster the domestic battery supply chain. Companies like Coreshell, Lilac Solutions, and Nth Cycle received significant funding to advance materials, extraction, and recycling, ensuring critical power sources for military technology and automotive needs.".

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ABH Healthcare SME IPO to open on Monday

Startups

ABH Healthcare, operating as Anil Baghi Hospital, will launch its Rs 34.98 crore IPO on Monday, closing August 27. The fresh issue of 34.29 lakh shares is priced between Rs 96 and 102 and will list on the NSE SME platform. Proceeds will fund debt repayment, working capital, and inorganic growth. The 150-bed multi-speciality provider has shown strong financial growth in revenue and profit over three years.

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Wakefit Surges 17% To Lead New-Age Tech Stocks This Week; Lenskart, Turtlemint Hit New Highs

Business

India's new-age tech stocks showed selective strength this week, with 34 of 61 tracked companies ending in the green despite declining benchmark indices. Wakefit led the gains, surging 16.69% following strong FY26 financial reports. Urban Company also rose 9.87% after a positive UBS rating, while Shiprocket made a successful market debut. Meanwhile, Atomberg and Zetwerk filed for IPOs, and significant block deals occurred in Paytm and Groww.

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Raana Semiconductors In Talks To Raise ₹100 Cr For Silicon-Growth Equipment

Business

Hosur-based Raana Semiconductors is seeking ₹100 crore in Series A funding, led by an Indian venture capital firm, to scale its Czochralski crystal-growth equipment from 6 to 12 inches. The startup plans to use the capital to refine silicon-growth processes and build a domestic supplier ecosystem. Raana currently serves national laboratories and intends to expand its customer base to solar and semiconductor manufacturers.

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Pixel 11 Pro XL review: Snappier cameras can’t hide an iterative upgrade

Startups

"The Pixel 11 Pro and Pro XL offer iterative updates, maintaining a similar design with new colors and a limited HiLight LED. Key additions include the Rambler AI dictation tool and enhanced Gemini features. The cameras feature larger sensors, faster performance, and new "Looks" filters. However, price increases for the Pro XL and reduced RAM for base models make upgrading from previous generations less appealing.".

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From Loan Diversion To Forged Letters: CBI Books BluSmart Founders In ₹672 Cr IREDA Case

Business

The CBI has registered an FIR against Gensol Engineering, Gensol EV Lease, and BluSmart founders Anmol and Puneet Singh Jaggi. Following a complaint by state-run IREDA, the investigation focuses on the alleged diversion and misappropriation of loans totaling ₹672.74 crore. Forensic audits revealed irregularities in EV and solar project funding, alongside the submission of forged documents to credit rating agencies, leading to insolvency proceedings against the entities.

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D2C Brand Be Clinical Bags ₹21 Cr To Double Down On Clinical Skincare

Business

D2C skincare startup Be Clinical has raised ₹21 crore in a seed extension round led by Sauce, with participation from V3 Ventures and various angel investors. Founded by Hemangi Dhir, the brand focuses on clinically tested products for aging concerns. The company will utilize the capital to enhance R&D, expand its product portfolio, scale manufacturing, and enter new markets within India's growing beauty and personal care sector.

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EV Manufacturer Omega Seiki Raises Additional ₹50 Cr To Accelerate International Expansion

Business

EV manufacturer Omega Seiki Mobility (OSM) has raised an additional ₹50 crore in funding led by Unistone Capital, following another ₹50 crore raise earlier this month. The company plans to use the capital to expand manufacturing capacity, strengthen R&D, and grow its dealer network from 150 to 250 touchpoints by FY28. OSM, which produces various electric vehicles, is also expanding globally with a new plant in Dubai.

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ISRO Mulls Exiting Manufacturing Amid India’s Push To Promote Privatisation In The Space Industry

Business

ISRO plans to stop manufacturing launch vehicles and routine satellites, transferring mature technologies like SSLV, PSLV, and LVM3 to private companies and PSUs. This shift allows the agency to focus on R&D, advanced scientific missions, and specialized infrastructure. By empowering the private sector and supporting spacetech startups, India aims to grow its space economy from $8 billion to $44 billion by 2033, enhancing global competitiveness.

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Centre Notifies ₹62,500 Cr Mobile Manufacturing Scheme To Build Indian Brands

Business

MeitY has introduced the ₹62,500 crore Mobile Phone Manufacturing Scheme (MPMS) for FY27 to FY31, succeeding the PLI scheme. The initiative offers incentives between 2.25% and 5% to boost domestic production and support Indian-owned brands, design, and R&D. By focusing on local value addition and component sourcing, the government aims to generate 60,000 direct jobs and drive cumulative mobile phone production of ₹39 lakh crore.

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