[Weekly funding roundup Aug 1-7] Sharp rise in VC inflow led by River Mobility

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[Weekly funding roundup Aug 1-7] Sharp rise in VC inflow led by River Mobility

Startups

Indian venture capital funding surged to $323 million across 25 deals in the first week of August, a significant increase from the previous week's $67 million. EV startup River Mobility led the trend with a $120 million raise. Funding spanned various sectors, including fintech, insuretech, and AI, with Sarvam AI attracting Nvidia's interest. Despite this momentum, large-scale deals exceeding $100 million remain infrequent within the ecosystem.

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OpenAI released a new cybersecurity model. Is that enough?

Startups

Max Justicz used OpenAI's GPT 5.6 Sol to discover a severe vulnerability in Ubuntu, which the Debian Project has since patched. This event highlights the growing role of AI in cybersecurity, prompting OpenAI to launch ChatGPT Cyber and a $1 billion initiative for critical infrastructure. While OpenAI is scanning open-source code for bugs, experts warn that AI could empower hackers if defenders lack equivalent tools.

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This Is Not About Money: Deepinder Goyal Defends Temple Amid Credibility Row

Business

Deepinder Goyal defended his Temple brain-monitoring wearable amidst medical expert criticism regarding its scientific validation and claims of measuring cerebral blood flow. Critics noted company-funded, non-peer-reviewed studies. Goyal clarified Temple is a fitness tracker, not a clinically validated medical device, citing $30M R&D investment and a return policy. Pre-orders for the ₹85,000 device opened, with shipping expected in early 20.

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ElevenLabs now lets users publish AI-generated music directly on SoundCloud

Startups

ElevenLabs now allows users to publish AI-generated music from its ElevenMusic platform directly on SoundCloud. SoundCloud Artist Pro users receive three months of ElevenMusic Pro, enabling extensive song creation. This partnership expands AI music distribution, with ElevenLabs having already generated over 25 million tracks. While SoundCloud embraces AI tools, other platforms like Deezer and Bandcamp are implementing filters or bans, highlighting varied industry approaches to AI-generated content.

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RadianX promises solar-powered devices that never need charging

Startups

RadianX developed perovskite solar material, twice as efficient indoors as existing panels, aiming to power portable and edge devices indefinitely. This innovation could eliminate battery needs for e-readers, IoT sensors, and wearables. The startup secured $5 million in seed funding and an additional $4 million for a dedicated production line. RadianX plans to sell integrated power packages to device makers, leveraging its high-density, thin solar.

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Shiprocket turns profitable in Q2 FY27 with Rs 674 Cr revenue

Startups

Shiprocket achieved profitability in Q2 FY27, reporting a net profit of Rs 60 lakh, a significant turnaround from last year's loss. Revenue from operations surged 35% year-on-year to Rs 673.6 crore, with adjusted EBITDA also turning positive. The core business grew 25%, while the emerging business, including cross-border shipping and Martech, expanded 61%, increasing its revenue contribution. The company is now debt-free after its IPO.

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Daksham Capital raises Rs 125 Cr in first close of Rs 300 Cr fund

Startups

The fund will invest in startups at the pre-Series A and Series A stages, with cheque sizes ranging from Rs 5 crore to Rs 20 crore. It will focus on D2C brands, consumer enablers, B2B2C businesses, supply chains and consumer AI.

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How Pine Labs is building for the agent economy: CTO Sanjeev Kumar on trust, control and execution

Startups

Pine Labs is building an AI agent ecosystem to integrate autonomous AI into commerce, focusing on trust and accountability. Their platform, featuring Grantex for permissions and audit trails, and AgenticOrg for developers, enables agents to manage tasks from cyber fraud resolution (Cora) to merchant ad campaigns. This initiative aims to make AI agents a reliable and auditable part of operations for enterprises, banks, and merchants.

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Spacetech Startup Cosmoserve Nets $6 Mn, Eyes Commercialisation By 2028

Business

Cosmoserve secured $6 Mn in seed funding led by Rebright Partners and unveiled India's first private space debris removal facility in Hyderabad. The company aims to validate its soft robotic capture technology through upcoming missions to remove defunct satellites and orbital debris, reducing collision risks. With further tech demonstrations, Cosmoserve targets commercial operations by 2028.

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Tonbo Imaging Turns Profitable In Q2 With ₹23.5 Cr PAT

Business

Tonbo Imaging reported a consolidated net profit of ₹23.5 Cr in Q2 FY27, marking a significant return to profitability after previous losses. The defence tech company's operating revenue surged over 1,963% year-on-year to ₹183.3 Cr. This substantial revenue growth, driven by demand for its imaging and sensor systems, outpaced the increase in expenses, enabling the company to achieve a strong financial turnaround.

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SaaS Company Amagi’s Q2 Profit Jumps Nearly 30X To ₹74.8 Cr

Business

<summary>Amagi reported a substantial financial surge in Q2 FY27, with net profit soaring nearly 30X year-over-year to ₹74.8 Cr. Operating revenue increased 27% to ₹475.8 Cr, significantly outpacing a 9% rise in total expenses. This strong performance led to sharply expanded profitability for the media SaaS company. Additionally, Amagi's board approved the appointments of Bhaskar Ghosh as an independent director and CTO Srividhya Srinivasan as a whole.

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Snapchat surpasses 30M paid subscribers

Startups

The milestone comes a year after Snapchat announced a controversial limit on free storage for its Memories feature and informed users it would start requiring users to pay $1.99 per month for additional storage or subscribe to Snapchat+ to retain their Memories.

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OpenAI is already trying to shape the 2028 election

Startups

OpenAI's Chris Lehane proposes a "New Deal" for AI, urging politicians to develop policies for the 2028 election that address public concerns and ensure shared benefits. His priorities span worker protections, education, AI safety, and data center development. Critics, however, argue his vision primarily serves OpenAI's interests, lacking concrete measures for accountability or equitable wealth distribution, and potentially entrenching corporate power.

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Open source AI is booming. Hugging Face explains who profits.

Startups

Open source models are becoming more mainstream as enterprises, governments and startups alike rely on the promise of lower costs, more control, and more flexibility. But as increasingly capable models become more freely available, how do companies capture value? And with Chinese open models gaining ground, can American players keep up? On this episode of […].

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‘You Can See Everything’ is getting an outer space release and it hasn’t even come out in Europe yet

Startups

A24's Elizabeth Holmes documentary, "You Can See Everything," will be screened on the International Space Station following a NASA request. The film, directed by Nathan Fielder and Lance Oppenheim, has topped the box office and is generating significant international demand. Sony Pictures acquired distribution rights for several territories, though release dates vary, making it currently easier to watch in orbit than in some countries.

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Titan OS raises $46 million to expand its smart TV OS internationally

Startups

Barcelona-based Titan OS has raised $46 million in new funding, bringing its total to $110 million. Backed by investors like BlackRock, the smart TV operating system provider aims to expand its global reach and enhance content discovery using AI. With 30 million users and partners including Philips and Sharp, the company helps TV manufacturers generate long-term revenue through advertising and FAST channel partnerships.

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Nykaa's PAT soars 206% in Q2FY27 as beauty, quick commerce arm deliver strong performance

Startups

Nykaa also announced the acquisition of an 82% majority stake in Simply Nam, a cosmetics brand founded in 2020 by celebrity makeup artist Namrata Soni alongside Bozzil, a venture studio led by Hanna Strömgren Khan. The acquisition is expected to help Nykaa widen its premium makeup portfolio.

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Now, upGrad Files Insolvency Petition Against Bira91 Over ₹1.02 Cr Dues

Business

<summary> upGrad has filed an insolvency petition against Bira 91 parent B9 Beverages over alleged unpaid dues of ₹1.02 Cr. This action, filed under IBC Section 9, intensifies mounting creditor pressure on the brewer. B9 Beverages is already facing an ₹11.77 Cr claim from glassmaker HNGIL and is attempting a business restructuring amid a prolonged financial crisis. The company seeks recapitalization to clear dues and revive

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Frammer AI partners with Collective Newsroom to power BBC News video in India

Startups

Frammer AI, an AI-native video studio, has partnered with Collective Newsroom, the sole content provider for BBC News in India. The collaboration utilizes Frammer’s automation tools to streamline video production and repurpose content for digital-first platforms across nine languages. This partnership aims to enhance the efficiency of public service journalism while maintaining editorial integrity and human judgment, expanding the reach of credible news across various digital channels.

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Canva lays off over 1,200 people amid slowing growth

Startups

Design software company Canva is laying off 1,271 employees, 22% of its workforce, amid a significant growth slowdown—the first in a decade. CEO Melanie Perkins announced organizational changes, including team mergers, to adapt. The company is grappling with ballooning AI costs, which led to a reduced revenue growth forecast and a valuation cut by investors. Canva also faces increasing competition from AI startups and.

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Nykaa’s Q2 Profit More Than Triples To ₹101 Cr, Revenue Up 28% YoY

Business

"Nykaa reported a consolidated net profit of ₹101.2 crore for Q2 FY27, marking a 206.8% year-on-year increase. Operating revenue rose 28.1% to ₹3,006 crore, driven by strong growth in its beauty segment and reduced losses in fashion. Additionally, the company's board approved the acquisition of an 82% stake in premium makeup brand Simply Nam for up to ₹33 crore, with the deal expected to close by December.".

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