SpaceX officially closes its Cursor acquisition

Source: Tech Crunch

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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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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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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Global innovation hub to AI skill training for 1 Cr youth: PM Modi outlines nation’s tech ambitions

Startups

Prime Minister Narendra Modi emphasized technology and innovation as central to India's growth during his 80th Independence Day address. He outlined a vision for "Viksit Bharat," focusing on AI, quantum computing, space, and robotics. To prepare the workforce, the Prime Minister announced AI skill training for one crore youth over the next year. Additionally, he urged India to lead in digital public technologies and implement Made-in-India 6G nationwide.

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AI Startups To Watch: 5 Startups That Caught Our Eye In August

Business

India's AI sector is evolving beyond general foundation models toward specialized infrastructure and domain-specific applications. Supported by the ₹10,300 Cr IndiaAI Mission and surging investment, startups are now tackling real-world deployment. Five emerging ventures—Clairva, Coreworks, eNLife Research, Kalpnk, and UpKraft—exemplify this shift, focusing on physical-world data, business intelligence, healthcare, filmmaking, and education to build a self-reliant, globally competitive AI ecosystem tailored to Indian needs.

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Art for a cause: Bhoomi exhibition highlights creativity for nature and social impact

Startups

The Venkatappa and Swasti art galleries in Bengaluru are jointly hosting "Bhoomi," a group exhibition featuring works by approximately 40 artists from Karnataka. The exhibition explores humanity's relationship with nature through paintings, sculptures, and installations to promote environmental consciousness. Curated by Bhagya Ajaikumar and Pradeep Kumar DM, the event also supports a humanitarian cause, with a portion of artwork sales benefiting the HCG Foundation's cancer patients.

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7 Must-read books on India’s pre-1947 business pioneers

Startups

Before 1947, visionary Indian entrepreneurs like Jamsetji Tata and G.D. Birla established the nation's industrial foundations under colonial rule. By building businesses in steel, textiles, and aviation, they drove economic growth and nation-building. Seven influential books explore these pioneers, detailing their resilience, the role of community networks, and the evolution of Indian capitalism, providing critical insights into the origins of the country's modern economic landscape.

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From Yulu To Discovered Materials — Indian Startups Raised $140 Mn This Week

Business

Indian startup funding activity remained muted in the second week of August, even as astrology platform AstroTalk joined the unicorn.

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Meet the faujis who swapped uniforms for startups

Startups

India celebrates its 80th Independence Day by honoring forgotten women freedom fighters and exploring Gen Z's views on liberty. Scientifically, Aditya-L1 reveals why the Sun's corona is hotter than its surface. In business, Zetwerk filed for a Rs 2,600 crore IPO, while India shifts its startup investment strategy toward direct equity. Additionally, Nintendo reports strong Pokémon sales, Alphabet's SpaceX investment surges, and PhysicsWallah sees revenue growth.

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Talks to sell PayPal to Stripe and Advent are heating up

Startups

"PayPal CEO Enrique Lores is pursuing a turnaround plan to reverse the company's lagging trajectory, which may include a potential sale. Reports indicate ongoing negotiations with Stripe and private equity firm Advent, following a previous $53 billion offer. Lores' strategy involves restructuring the business into three operating models, refocusing on technology fundamentals, and implementing cost-saving measures that could reduce the workforce by 20% over several years.".

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Self-driving trucks are officially testing on California highways

Startups

Aurora Innovation and Kodiak AI have received California DMV permits to test autonomous trucks on public roads following the lifting of a ban on heavy-duty driverless vehicles. While Kodiak has already begun testing near Mountain View, both companies must employ human safety operators. However, Teamsters California has sued the DMV, alleging the agency ignored safety risks and failed to study the economic impacts of self-driving trucks.

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Atomberg To Form JV With Voltas To Manufacture AC Compressors

Business

IPO-bound startup Atomberg has partnered with Tata-owned Voltas to form a joint venture for manufacturing energy-efficient room air conditioner compressors in India. While Voltas will serve as the anchor customer, the venture can supply other clients. This partnership leverages Voltas' market scale and Atomberg's engineering expertise. The move comes as Atomberg prepares for a public offering to raise between ₹1,500 crore and ₹2,000 crore.

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