UPI Transactions Rise 4% MoM To Record 24.51 Bn In August

Source: inc42

UPI Transactions Rise 4% MoM To Record 24.51 Bn In August

Business

"UPI transaction volume hit a record 24.51 billion in August, rising nearly 4% month-on-month, although the total value dipped slightly to ₹29.82 lakh crore. While adoption grows, the industry faces monetization challenges, with new legislation potentially enabling Merchant Discount Rates. Additionally, NPCI is enhancing interoperability for AutoPay mandates and expanding internationally to Uzbekistan, while PhonePe is targeting feature-phone users to further increase digital payment reach.".

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Yuma Energy raises $35M in Series A from Magna International

Startups

"Yuma Energy, a battery-swapping venture co-founded by Yulu and Magna International, has raised $35 million in Series A funding led by Magna International. The company plans to use the capital to expand its infrastructure across India, targeting electric two- and three-wheeler users. Having already completed 60 million swaps, Yuma Energy aims to broaden its customer base and achieve EBITDA-positive operations by the 2027 fiscal year.".

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Kepler Aerospace bags $8M to deploy swarming satellites

Startups

Bengaluru-based Kepler Aerospace will use the seed funding to deploy six swarming ISR satellites and expand its mission operations and avionics businesses.

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How Magron is building ‘Generation 2’ of electric vehicles

Startups

Bengaluru-based EV startup Magron is developing three electric motorcycles alongside technologies such as wireless charging and an AI-powered riding assistant.

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Kepler Aerospace Raises $8 Mn To Launch Six Autonomous Surveillance Satellites

Business

"Bengaluru-based Kepler Aerospace has raised $8 million in its first external funding round to deploy six autonomous swarming ISR satellites under two iDEX contracts. The startup aims to reduce the delivery time of space-based intelligence from months to minutes. Additionally, Kepler will expand its mission operations and avionics-as-a-service businesses, move to a new facility, and hire 40 employees over the next 12 to 24 months.".

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Ashwini Vaishnaw highlights 20-year vision for India’s semicon industry

Startups

India is building a comprehensive semiconductor ecosystem to reduce strategic dependencies and compete globally. Following the success of Semicon 1.0, which approved twelve projects, the government launched Semicon 2.0 with a Rs 1.27 lakh crore outlay. This initiative targets the entire value chain, from chip design and fabrication to packaging and talent development. While commercial production has begun, the first silicon fab is expected by 2028.

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The Festive Delivery Squeeze

Business

Festive shopping has always involved some last-minute panic. A forgotten gift, an extra box of sweets or a beauty order.

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Yuma Energy Bags $35 Mn To Expand Its Battery Swapping Network

Business

"Yuma Energy, a joint venture between Magna and Yulu Energy, has raised $35 million in Series A funding from Magna International. The startup aims to expand its battery swapping network across India, enhance its tech platform, and broaden its customer base to include fleet operators and OEMs. With over 2,500 stations already operational, Yuma targets EBITDA-profitability by FY27 as the Indian EV market grows rapidly.".

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Magna increases bet on battery swapping in India with $35M for Yuma

Startups

Magna International is investing an additional $35 million in Yuma Energy, a Bengaluru-based battery-swapping firm for electric two- and three-wheelers. Targeting India's growing gig economy, Yuma aims to reduce vehicle downtime for delivery riders. The capital will be used to double Yuma's battery fleet and expand its infrastructure across Indian cities. While not yet profitable, the company plans to reach EBITDA break-even within two quarters.

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EquityList launches AI-native cap table and compliance OS

Startups

EquityList has launched an AI-native cap table and compliance operating system designed to streamline equity management. The platform integrates agentic AI to analyze documents, identify compliance gaps, and draft grants, transforming a traditional system of record into a system of intelligence. Serving over 650 companies globally, EquityList ensures security through human-in-the-loop approvals and strict certifications, enabling finance and HR teams to manage complex equity operations efficiently.

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Zepto’s New Game Plan, Layoffs At Zomato & More

Business

Zepto is prioritizing profitability by reducing discounts and launching a paid loyalty program following its IPO postponement. Meanwhile, Zomato has laid off 240 employees in Hyderabad to consolidate operations. In other news, Satvacart has shut down, and Bira91 faces insolvency threats. Electric two-wheeler sales declined in August, while Vimag Labs is developing rare earth magnet alternatives to reduce India's dependence on Chinese imports for EV motors.

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Zenergize Bags $4 Mn To Scale Production Of Its EV Chargers

Business

"Clean tech startup Zenergize has raised $4 million in a Pre-Series A funding round led by Giraffe Studios to expand its EV charger and solar inverter production. Founded by IIT Bombay alumni, the company plans to scale its R&D, grow its sales team, and establish a new facility in Delhi NCR. Zenergize currently reports an annual run rate of ₹35-40 crore, targeting significant growth by 2026.".

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How Tim Cook turned India into Apple’s growth engine; NIIF raises Rs 19,000 Cr infra fund

Startups

Zomato implemented a zero-tolerance policy for analogue dairy products following food safety crackdowns. India notified its Rs 1,27,500-crore Semicon 2.0 scheme to boost semiconductor design and manufacturing. Apple's Indian sales exceeded $10 billion, with 55 million iPhones assembled locally. Additionally, NIIF raised Rs 19,000 crore for infrastructure, Chile is building the Extremely Large Telescope, and the Bank of England warned about AI's financial risks.

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Zepto’s Retention Play: Fewer Discounts, Premium Carts & A Paid Club

Business

Before we turn the talk to Zepto’s IPO delay and how the company is looking to address the one problem.

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Exclusive: MS Dhoni Joins Edtech Startup SpeakX’s Cap Table

Business

AI-based edtech startup SpeakX has appointed cricketer Mahendra Singh Dhoni as a strategic investor and brand ambassador. Formerly known as Yellow Class, the English tutoring platform utilizes a freemium model and currently serves around 2 lakh paid subscribers. SpeakX is expanding its regional-language offerings across India and plans to launch a B2B product. The company reported EBITDA profitability in FY26 and projects revenue growth for FY27.

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Lachy Groom backs Indian startup aiming to keep aircraft aloft for a year

Startups

"Bengaluru startup Alteon has raised $2.5 million in pre-seed funding led by Lachy Groom to develop autonomous aircraft capable of staying airborne for over a year. By utilizing dynamic soaring, a technique inspired by albatrosses, the aircraft will harvest energy from ocean winds for maritime surveillance. While early tests over the Bay of Bengal are promising, the team must still prove the aircraft can sustain energy-neutral flight.".

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Apple shares ‘shocking evidence’ against former employee accused of stealing company data for OpenAI

Startups

Apple has filed new evidence in its lawsuit against OpenAI, alleging that former employee Chang Liu used confidential circuit schematics and internal tools at the AI company. Apple claims Liu and a colleague attempted to destroy evidence during an investigation. While OpenAI attributes the data access to Apple's poor system management, Apple asserts Liu exploited a bug. Apple seeks an injunction to block OpenAI's hardware development.

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Polymarket reportedly raises $300 million from Donald Trump Jr.’s investment fund

Startups

"Polymarket has raised $300 million from 1789 Capital, a fund partnered with Donald Trump Jr., as part of a larger $1 billion funding round. This investment comes amid significant regulatory tension between state governments and federal authorities over the oversight of prediction markets. While many states are litigating against these sites, the federal government and Trump Jr. argue that the Commodity Futures Trading Commission should be the sole regulator.".

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BNP Paribas, Societe Generale & Millennium Sell Lenskart Shares Via ₹2,670 Cr Block Deals

Business

BNP Paribas, Societe Generale, and Millennium Management offloaded Lenskart shares totaling ₹2,670.2 crore to book profits following a surge in stock prices. Conversely, BlackRock emerged as a major institutional investor, acquiring shares worth over ₹1,896 crore. This activity follows Lenskart's inclusion in the MSCI global standard index and a strong Q1 FY27 performance, where net profit surged 273% to ₹228.4 crore amid rising operating revenues.

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a16z brings growth fund to $8.5B days after launching new $1.1B fund

Startups

"Venture capital firm Andreessen Horowitz has expanded its fifth growth fund to $8.5 billion and launched a new $1.1 billion "Machine Age Fund" targeting AI hardware. The growth fund supports scaling startups across enterprise AI, defense, robotics, and health tech. These moves reflect the rapid acceleration of AI companies. The firm, which manages $90 billion in assets, is also increasing its investments in politics and lobbying.".

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