RDI Fund Row: Deeptech Investors Seek More Transparency, Independent Oversight

Source: inc42

RDI Fund Row: Deeptech Investors Seek More Transparency, Independent Oversight

Business

India's ₹1 Lakh Cr Research, Development and Innovation (RDI) fund faces scrutiny after 15 of 22 companies in its first ₹2,192 Cr allocation were linked to selection committee members. These companies received 62% of the funds. While the government maintains that conflict-of-interest safeguards were followed, investors warn that a lack of transparency could favor established networks and undermine trust in government-backed deeptech capital.

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IPO wave: Seven cos eye to raise Rs 6,400 Cr next week

Startups

Seven companies, including Horizon Industrial Parks and Lalithaa Jewellery Mart, plan to raise over Rs 6,400 crore through initial public offerings between August 17 and 21. Other participants include Augmont Enterprises, Gaja Alternative Asset Management, Shankesh Jewellers, Sunshine Pictures, and Tempsens Instruments. The funds will support business expansion and debt repayment. This surge brings the expected 2026 IPO total to 55, with Skyways Air Services following on August 24.

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Can Astrotalk Chart A Future Beyond Astrology?

Business

Astrotalk has become India's 133rd unicorn through an internal ESOP buyback rather than external funding. The company's operating revenue surged from ₹283 crore in FY23 to ₹1,176 crore in FY25. As it prepares for an IPO, Astrotalk is diversifying its core astrology consultation business into e-commerce via the Astrotalk Store and expanding internationally, particularly in the US, to drive future growth and valuation.

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Efficiency, lifespan, environment: test your business creativity with Edition 245 of our weekly quiz!

Startups

YourStory’s 245th edition of Lateral Sparks highlights five startups solving real-world challenges. Reneonix improves glass recycling traceability, while WalkAbout India supports active lifestyles for seniors. Aule Space extends satellite lifespans via propulsion technology, and SunCharge Motors integrates solar panels into electric three-wheelers to increase efficiency. Finally, GetVantage provides cash-flow-based financing for MSMEs, addressing traditional lending gaps to foster business growth and economic development.

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PM Modi’s AI bet: Train 1 crore youth in one year

Startups

Prime Minister Narendra Modi announced plans to train one crore youth in AI and provide free coaching for competitive exams. The government also aims to expand the Lakhpati Didis scheme to six crore women. Meanwhile, Indian venture capital funding dipped to $146 million recently, though Yulu secured $93 million. Other news includes Swakshatra’s work with trauma survivors, heat affecting French champagne grapes, and NVIDIA’s $21 billion SpaceX stake.

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Curiosity is more important than expertise: insights from the inspiring Ritz-Carlton art walk

Startups

"The Ritz-Carlton in Bengaluru transforms luxury hospitality into a living art gallery, featuring over 1,200 artworks integrated into its design. Guests can experience a curated Art Walk led by Surekha Sundaram or participate in an interactive Art Hi-Tea featuring edible art. Designed by WATG and inspired by Lal Bagh Botanical Gardens, the hotel blends architecture and fine art to provide an immersive, multi-sensory cultural journey.".

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Ola Electric Unveils Three New Energy Storage Products

Business

Ola Electric has launched three new battery energy storage systems: the residential Ola Shakti Gen 2, the industrial Shakti Rack, and the utility-scale Mahashakti. Utilizing in-house 4680 Bharat lithium-ion cells, these products aim to diversify revenue streams and increase Gigafactory utilization. Residential variants are priced from ₹99,000, with deliveries starting in November 2026, while industrial solutions are expected by March 2027 to bolster the company's energy portfolio.

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Woman claims her stepfather used Grok to transform childhood photo into explicit imagery

Startups

"Jane Doe 4 has joined a lawsuit against Elon Musk’s xAI, filed by three Tennessee teenagers, alleging the chatbot Grok facilitated the creation of child sexual abuse material. The woman claims her stepfather used the tool to generate thousands of explicit images of her as a child. The plaintiffs argue xAI lacked necessary precautions to prevent such abuse and are currently seeking class action status for their suit.".

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Anthropic shares more details about how Claude’s new watermarks will work

Startups

Anthropic is implementing text watermarking for its Claude chatbot to comply with the EU AI Act’s Transparency Code. Using Google DeepMind's SynthID-Text approach, the system creates undetectable patterns in word choices without affecting output quality. While complete rewrites can remove the watermark, light editing typically cannot. Anthropic plans to release a detection API, noting that other major AI developers will also adopt similar transparency measures.

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IPO-Bound Zypp Electric Slashes FY26 Loss By 45% YoY To ₹60 Cr

Business

EV logistics startup Zypp Electric significantly reduced its consolidated net loss to ₹59.7 crore in FY26, a 44.4% decrease from the previous year. Operating revenue grew 5.2% to ₹461 crore, driven largely by a 24% increase in EV rental income. As the company prepares for a $200 million IPO within the next 22 months, it continues to optimize costs while expanding its battery-swapping infrastructure.

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SpaceX officially closes its Cursor acquisition

Startups

"AI coding startup Cursor has officially been acquired by SpaceX for $60 billion. Following a partnership established in April, the deal closed after SpaceX transitioned to a public company. By joining SpaceX, Cursor gains access to one of the world's largest GPU fleets and advanced computing infrastructure. This move aims to scale artificial intelligence capabilities, with Cursor serving as a primary tool to make that intelligence useful.".

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How to tell if your AI platforms’ accounts have been hacked

Startups

Hackers can target AI platforms like ChatGPT, Claude, and Perplexity. To enhance security, users should employ password managers and multi-factor authentication, which ChatGPT and Perplexity support. Claude utilizes email login links instead of passwords. Each platform provides methods to monitor or terminate active sessions to remove unauthorized access. Users can secure their accounts by logging out of unrecognized devices and resetting credentials where applicable.

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Turtlemint Jumps 23% To Lead Weekly Gains In New-Age Tech Stocks, Veefin Biggest Loser

Business

New-age tech stocks experienced significant divergence this week, driven by Q1 FY27 earnings and business updates. Turtlemint led the rally with a 22.64% gain, while Veefin Solutions saw the steepest decline of 13.76%. Overall, 30 stocks rose and 29 fell, with the combined market capitalization reaching $162.73 billion. Meanwhile, the broader Indian market declined due to geopolitical tensions and rising crude oil prices affecting investor sentiment.

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Every fusion startup that has raised over $100M

Startups

Advances in AI, computing, and superconducting magnets have accelerated the pursuit of commercial fusion power. Following a landmark scientific breakeven by a U.S. lab, several well-funded startups, including Commonwealth Fusion Systems and Helion, are developing diverse reactor designs. These companies, backed by billions in private capital, aim to provide nearly limitless energy, with some targeting operational power plants as early as 2027 or 2028.

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CRED-Backed NewTap Finance’s FY26 Profit More Than Doubles To ₹2.4 Cr

Business

CRED-backed NBFC NewTap Finance reported a net profit of ₹2.4 crore in FY26, more than doubling its previous year's earnings. Total income surged 116% to ₹259 crore, while assets under management reached ₹4,582 crore, with 81% held off-book through co-lending partnerships. Despite gross Stage 3 assets increasing to 0.94%, the lender maintained a collection efficiency over 97%, primarily serving high-credit-score borrowers via the CRED platform.

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EaseMyTrip Slips Into Red With ₹11.7 Cr Loss In Q1; Revenue Rises 18% YoY

Business

EaseMyTrip reported a consolidated net loss of ₹11.7 crore in Q1 FY27, compared to a profit of ₹44 lakh in the previous year. Despite an 18.4% year-on-year increase in operating revenue to ₹134.7 crore, total expenses surged by 29.8%. Growth was driven by hotel packages and Dubai operations, while air revenue declined. Gross booking revenue rose 14.8% to ₹2,371 crore as the company pursues its Vision 2030 strategy.

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IPO-Bound Zetwerk’s FY26 Loss Widens To ₹1,606.2 Cr Despite 40% Uptick In Revenue

Business

Zetwerk, a full-stack contract manufacturer, reported a widened net loss of ₹1,606.2 crore for FY26, despite a 40.4% increase in operating revenue to ₹15,913.3 crore. The company's restated loss improved to ₹41.1 crore. Preparing for an IPO, Zetwerk plans a ₹2,600 crore fresh issue to repay borrowings and fund acquisitions. The firm operates over 26 facilities globally, serving major clients like Siemens Gamesa and Acer India.

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PM Modi Bets On Tech To Empower Youth With AI Skilling, Online Coaching

Business

During his 80th Independence Day address, Prime Minister Narendra Modi announced free online coaching for competitive exams and AI training for 10 million youth over the next year. He highlighted India's semiconductor progress, with three plants active and more coming soon. Additionally, Modi introduced the "Sapta Dhara" roadmap, focusing on manufacturing, technology, and innovation to transform India into a developed nation by 2047.

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PM Modi lays out seven-point 'Sapta Dhara' framework for 'Viksit Bharat'

Startups

Prime Minister Narendra Modi introduced the 'Sapta Dhara' reform framework during India's 80th Independence Day address to accelerate the nation's goal of becoming developed by 2047. This seven-point strategy focuses on manufacturing, agro-food production, technology, logistics, defence, the green and blue economy, and soft power. Modi emphasized a holistic approach, urging self-reliance and global competitiveness to leverage youth power and establish India as a trusted global partner.

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PM Modi announces free online coaching for youth

Startups

Prime Minister Narendra Modi announced free online coaching for competitive exam aspirants and AI training for one crore youth during India's 80th Independence Day address. Aiming to reduce financial burdens on families, the initiative leverages digital infrastructure and talent. Modi also highlighted educational advancements since 2014, including the addition of 650 universities, increased medical seats, a new education policy, and the arrival of foreign universities in India.

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