https://startupinbrief.com Latest Indian startup and tech news summarized in 60 words. en-us https://startupinbrief.com/news/veranda-learning-q1-fy27-profit-surges-57x-to-rs-34-cr https://startupinbrief.com/news/veranda-learning-q1-fy27-profit-surges-57x-to-rs-34-cr "Veranda Learning Solutions reported strong Q1 FY27 results, with revenue rising 42% to Rs 150 crore and profit after tax surging 5.7x to Rs 34 crore. Growth was driven by increased enrolments in commerce and government test preparation, alongside disciplined cost management. To unlock shareholder value, the firm plans to demerge its commerce business. Future strategies include expanding to 15 new offline locations and enhancing digital-led admissions.". Thu, 13 Aug 2026 18:44:10 GMT https://startupinbrief.com/news/5-books-that-reveal-the-meaning-of-true-independence https://startupinbrief.com/news/5-books-that-reveal-the-meaning-of-true-independence highlights knowledge as a tool for independence. Together, these works suggest that self-awareness and courage are essential for breaking boundaries and finding meaningful, independent lives.". Thu, 13 Aug 2026 18:10:00 GMT https://startupinbrief.com/news/decoding-cashfree-payments-0-payment-gateway-fee-offer-and-why-its-a-no-brainer-for-early-stage-businesses https://startupinbrief.com/news/decoding-cashfree-payments-0-payment-gateway-fee-offer-and-why-its-a-no-brainer-for-early-stage-businesses Cashfree Payments has introduced a 0% payment gateway fee waiver on the first Rs. 20 lakh Gross Merchandise Value for new businesses signing up by March 31, 2027. This initiative aims to support small businesses during the critical festive season, reducing costs and operational hurdles. By removing financial barriers, Cashfree seeks to attract new merchants and help them scale quickly during their highest-revenue period of the year. Thu, 13 Aug 2026 17:31:00 GMT https://startupinbrief.com/news/navi-to-file-for-3000-cr-ipo-by-december-report https://startupinbrief.com/news/navi-to-file-for-3000-cr-ipo-by-december-report "Fintech unicorn Navi is reportedly planning to file for a $314 million IPO by December this year, consisting of a fresh issue of shares. The company has appointed advisers including Goldman Sachs and JPMorgan for the offering. This move follows the shelving of previous listing plans in 2022. While Navi has not officially confirmed the reports, the move aligns with a broader trend of Indian tech startups seeking public listings.". Thu, 13 Aug 2026 17:20:43 GMT https://startupinbrief.com/news/inside-lt-vyomas-plan-to-build-indias-ai-infrastructure-giant https://startupinbrief.com/news/inside-lt-vyomas-plan-to-build-indias-ai-infrastructure-giant Larsen & Toubro (L&T) is consolidating its data centre, cloud and AI infrastructure businesses under newly incorporated subsidiary Vyoma.AI as. Thu, 13 Aug 2026 17:18:08 GMT https://startupinbrief.com/news/how-303-mn-bluetile-acquisition-complicates-nazaras-growth-story https://startupinbrief.com/news/how-303-mn-bluetile-acquisition-complicates-nazaras-growth-story Nazara Technologies is acquiring Bluetile Games and BestPlay for $303 million, with $214 million due by April 2027. The company faces funding challenges amid rising user acquisition costs and a recent quarterly net loss. Raymond Stauffer, founder of Bluetile, will become CEO and invest ₹583 crore personally. This transition occurs as founder Nitish Mittersain prepares to step down as CEO by September 2026. Thu, 13 Aug 2026 16:39:27 GMT https://startupinbrief.com/news/honasa-q1-profit-more-than-doubles-to-90-cr-revenue-up-27-yoy https://startupinbrief.com/news/honasa-q1-profit-more-than-doubles-to-90-cr-revenue-up-27-yoy Honasa Consumer, the parent company of Mamaearth, reported its highest-ever quarterly net profit of ₹90.4 crore in Q1 FY27, marking a 119% year-on-year increase. Operating revenue grew 27% to ₹755.9 crore during the same period. The company also saw sequential growth, with net profit rising 30% and revenue increasing 15% from the previous quarter, driven by strong revenue growth and improved operating leverage across its business. Thu, 13 Aug 2026 15:47:14 GMT https://startupinbrief.com/news/tata-trusts-initiates-process-of-selecting-tata-sons-chairman https://startupinbrief.com/news/tata-trusts-initiates-process-of-selecting-tata-sons-chairman Tata Trusts has begun searching for a successor to N Chandrasekaran as Chairman of Tata Sons. Chandrasekaran announced he will not seek a third term following a lack of unanimity within the board. The Sir Dorabji Tata Trust expressed gratitude for his decade of leadership and transformation. A selection committee will now be formed to recommend a new Chairman, ensuring a smooth transition for the diversified conglomerate. Thu, 13 Aug 2026 15:27:12 GMT https://startupinbrief.com/news/snapchat-has-gen-zs-attention-in-india-its-time-to-monetise-now https://startupinbrief.com/news/snapchat-has-gen-zs-attention-in-india-its-time-to-monetise-now Snapchat India is shifting its advertising focus from simple Gen Z reach to capturing the purchase-validation loop. With a ten-fold increase in advertisers and tripled spending, the platform is attracting traditional brands alongside online-first companies. By leveraging AI and its close-knit communication model, Snapchat aims to convert high user engagement into measurable performance and ROI, moving beyond discovery to influence final purchase decisions. Thu, 13 Aug 2026 15:22:21 GMT https://startupinbrief.com/news/gen-z-turns-to-crypto-as-gateway-to-investing-wazirx-data-shows https://startupinbrief.com/news/gen-z-turns-to-crypto-as-gateway-to-investing-wazirx-data-shows "India's Gen Z is increasingly using cryptocurrency as a primary gateway to financial markets, according to WazirX data. With a median age of 25, these investors predominantly hail from Tier II and III cities. Their portfolios favor utility-focused assets over speculative memecoins, and many continue investing during market downturns. This trend highlights a shift toward early, disciplined wealth creation among young, lower-income Indians and students nationwide.". Thu, 13 Aug 2026 15:12:06 GMT https://startupinbrief.com/news/mirae-asset-venture-investments-marks-first-close-of-fund-ii-at-1125-cr https://startupinbrief.com/news/mirae-asset-venture-investments-marks-first-close-of-fund-ii-at-1125-cr Mirae Asset Venture Investments (MAVI) India has achieved the first close of its second fund, Mirae Asset Venture Opportunity Fund II, at ₹1,125 Cr. With a target corpus of ₹1,800 Cr, the fund focuses on Series B to Series D startups across AI, SaaS, deeptech, and consumer tech. The Mumbai-based firm aims to support high-growth Indian businesses that have achieved product-market fit and are scaling operations. Thu, 13 Aug 2026 14:50:09 GMT https://startupinbrief.com/news/kusho-ai-is-building-ai-agents-that-test-software-before-it-breaks https://startupinbrief.com/news/kusho-ai-is-building-ai-agents-that-test-software-before-it-breaks Bengaluru-based Kusho AI, founded in 2023, offers an AI-powered platform that automates software testing and maintenance for APIs and applications. Using an agentic orchestration layer and proprietary models, the startup helps engineering teams detect bugs and ensure stability before production. Serving over 5,200 clients in high-stakes sectors like banking, Kusho AI reduces manual testing time and costs, allowing developers to focus on building new products. Thu, 13 Aug 2026 14:45:20 GMT https://startupinbrief.com/news/exclusive-former-dyson-india-boss-ankit-jain-bags-funding-from-beenext-for-new-venture https://startupinbrief.com/news/exclusive-former-dyson-india-boss-ankit-jain-bags-funding-from-beenext-for-new-venture "Former Dyson India MD Ankit Jain has launched a stealth startup focused on premium consumer appliances, securing pre-seed funding from Singapore-based BEENEXT. Jain, who previously led Dyson's operations in India and the Middle East, enters a competitive market where innovative brands challenge legacy makers. India's household appliances sector is expanding rapidly, projected to reach $33.63 billion by 2030, driven by rising disposable incomes and smart technology adoption.". Thu, 13 Aug 2026 14:39:31 GMT https://startupinbrief.com/news/bluehillvc-marks-final-close-of-400-cr-maiden-frontier-tech-fund https://startupinbrief.com/news/bluehillvc-marks-final-close-of-400-cr-maiden-frontier-tech-fund Early-stage VC firm Bluehill.VC has closed its maiden ₹400 crore frontier tech fund, featuring a ₹50 crore greenshoe option. Backed by SIDBI, state governments, and various private investors, the fund targets 15-16 seed to Series A startups in sectors like semiconductors, defence, and energy. With average initial investments of $1-2 million, Bluehill.VC aims to leverage India's growing deeptech momentum and supportive government policies for advanced manufacturing. Thu, 13 Aug 2026 13:51:42 GMT https://startupinbrief.com/news/d2c-brand-scrubsy-nets-3-mn-to-expand-home-cleaning-offerings https://startupinbrief.com/news/d2c-brand-scrubsy-nets-3-mn-to-expand-home-cleaning-offerings D2C home-cleaning startup Scrubsy has raised ₹27 Cr ($3 Mn) in a seed round led by V3 Ventures. The Delhi NCR-based company specializes in foam-based cleaning products designed to reduce scrubbing time. Scrubsy plans to use the funding to expand into car and laundry care. Having acquired over 5 lakh customers, the EBITDA-positive startup aims for ₹100 Cr in annual recurring revenue by FY28. Thu, 13 Aug 2026 13:46:26 GMT https://startupinbrief.com/news/centre-directs-ride-hailing-platforms-to-take-down-advanced-tipping-prompts https://startupinbrief.com/news/centre-directs-ride-hailing-platforms-to-take-down-advanced-tipping-prompts The Ministry of Road Transport and Highways has ordered ride-hailing platforms like Uber and Ola to remove tipping prompts shown before or during trips. According to the Motor Vehicle Aggregator Guidelines 2025, tips may only be offered after a journey is completed. Aggregators are prohibited from suggesting that tips improve ride acceptance or waiting times, and 100% of all tipping amounts must go directly to the drivers. Thu, 13 Aug 2026 13:35:15 GMT https://startupinbrief.com/news/shiprocket-ipo-subscribed-nearly-2x-on-day-2-so-far https://startupinbrief.com/news/shiprocket-ipo-subscribed-nearly-2x-on-day-2-so-far Ecommerce enablement platform Shiprocket’s ₹1,617.5 Cr IPO was subscribed 1.97X by 12:42 IST on the second day of bidding today. Thu, 13 Aug 2026 13:11:24 GMT https://startupinbrief.com/news/centricity-raises-280-cr-to-expand-wealthtech-platform-nri-business https://startupinbrief.com/news/centricity-raises-280-cr-to-expand-wealthtech-platform-nri-business Gurugram-based wealthtech startup Centricity has raised ₹280 crore (approximately $29 million) in a funding round led by SMBC Asia Rising Fund. The investment, comprising equity and venture debt, values the company at ₹1,800 crore. Centricity intends to use the capital to enhance its technology stack and expand its B2B2C wealth-distribution platform globally. The firm currently manages over ₹15,000 crore in assets for more than 1 lakh investors. Thu, 13 Aug 2026 12:57:35 GMT https://startupinbrief.com/news/amagi-q1-profit-jumps-86x-yoy-to-339-cr-revenue-rises-32 https://startupinbrief.com/news/amagi-q1-profit-jumps-86x-yoy-to-339-cr-revenue-rises-32 Amagi Media Labs reported a significant increase in consolidated net profit for the June quarter of FY 2026-27, jumping 8.6 times to ₹33.9 crore from ₹3.9 crore year-on-year. Operating revenue grew 32.4% to ₹436.9 crore, while total income reached ₹454.5 crore. Despite the annual growth, profit saw a marginal sequential decline from ₹34.3 crore in the March quarter, and total expenses rose 22.6% to ₹414.1 crore. Thu, 13 Aug 2026 12:19:00 GMT https://startupinbrief.com/news/lenskart-shares-jump-7-to-record-high-as-brokerages-raise-targets https://startupinbrief.com/news/lenskart-shares-jump-7-to-record-high-as-brokerages-raise-targets Shares of omnichannel eyewear major Lenskart jumped nearly 7% to an all-time high of ₹627.35 on the BSE today after. Thu, 13 Aug 2026 12:02:24 GMT https://startupinbrief.com/news/ipo-bound-inframarket-eyes-reverse-listing-via-shalimar-paints-in-10440-cr-share-swap https://startupinbrief.com/news/ipo-bound-inframarket-eyes-reverse-listing-via-shalimar-paints-in-10440-cr-share-swap "Shalimar Paints is considering acquiring equity shares and CCPS of Hella Infra Market, the parent company of unicorn Infra.Market, through a proposed ₹10,439.91 crore share swap. This transaction would make Hella Infra Market an unlisted material subsidiary of Shalimar Paints, providing the unicorn a reverse-listing route to public markets. The board is now reviewing the proposal to seek necessary shareholder approvals for the building materials platform.". Thu, 13 Aug 2026 11:43:16 GMT https://startupinbrief.com/news/mumbaisemi-builds-the-receiver-chip-that-lets-a-device-use-indias-navigation-satellites https://startupinbrief.com/news/mumbaisemi-builds-the-receiver-chip-that-lets-a-device-use-indias-navigation-satellites MumbaiSemi, a 2024 spin-off from IIT Bombay, has developed DhruvaPro, a programmable receiver chip designed to support India's NavIC system alongside GPS, Galileo, and BeiDou. Founded by Vijay Kanchetla and Professor Rajesh Zele, the company aims to reduce India's dependence on foreign navigation hardware. While the silicon-proven chip has received academic and institutional recognition, MumbaiSemi is currently seeking commercial partners to scale production and secure customers. Thu, 13 Aug 2026 11:17:41 GMT https://startupinbrief.com/news/gurutvaa-systems-builds-the-anti-drone-equipment-that-indian-forces-use-to-jam-intruding-drones https://startupinbrief.com/news/gurutvaa-systems-builds-the-anti-drone-equipment-that-indian-forces-use-to-jam-intruding-drones Pune-based Gurutvaa Systems developed DRONAAM, a modular counter-drone system that uses jamming technology to neutralize commercial drones without destroying them. The Indian Air Force and Border Security Force utilize the system, which has significantly increased drone neutralization rates in the Punjab sector. Designed to reduce reliance on foreign defense imports, DRONAAM was also deployed during the 2023 G20 summit and is part of the iDEX framework. Thu, 13 Aug 2026 11:16:46 GMT https://startupinbrief.com/news/iindepro-dynamics-makes-the-electric-motors-that-spin-a-drones-propellers https://startupinbrief.com/news/iindepro-dynamics-makes-the-electric-motors-that-spin-a-drones-propellers Iindepro Dynamics, founded in Rajkot in 2023, aims to reduce India's reliance on imported drone motors, which currently account for over 90% of the market. The company specializes in brushless direct current motors, offering patented designs and customization for drone manufacturers. While collaborating with IIT Madras and participating in government programs like Bharat Innovates 2026, the startup is currently focused on scaling its production and portfolio. Thu, 13 Aug 2026 11:15:13 GMT https://startupinbrief.com/news/vayudh-builds-nano-surveillance-drones-for-the-indian-armed-forces https://startupinbrief.com/news/vayudh-builds-nano-surveillance-drones-for-the-indian-armed-forces "Vayudh, the defense arm of IIT Delhi-based BotLab Dynamics, specializes in indigenous nano-class surveillance drones, notably the Atri. After transitioning to in-house component manufacturing, the company focuses on precision reconnaissance and training simulators. Vayudh recently raised $10 million from investors like Dharana Capital to expand R&D and manufacturing. While its technology has gained high-level visibility, the company has not yet disclosed specific order volumes or customers.". Thu, 13 Aug 2026 11:14:15 GMT https://startupinbrief.com/news/bluehillvc-raises-rs-400-cr-for-maiden-frontier-tech-fund https://startupinbrief.com/news/bluehillvc-raises-rs-400-cr-for-maiden-frontier-tech-fund "Chennai-based venture capital firm Bluehill.VC has closed its maiden Rs 400 crore frontier-tech fund, including a Rs 50 crore greenshoe option. Backed by SIDBI, state governments, and private investors, the fund targets Seed to Series A startups in sectors like semiconductors, space, and defense. The firm aims to build a concentrated portfolio of 15-16 companies, planning to deploy Rs 80 crore over the next six months.". Thu, 13 Aug 2026 10:30:00 GMT https://startupinbrief.com/news/what-66-years-of-selling-indian-craft-has-taught-fabindia https://startupinbrief.com/news/what-66-years-of-selling-indian-craft-has-taught-fabindia Fabindia, a 66-year-old handcrafted apparel brand, is evolving to compete with quick commerce by integrating personalized services like interior design and bespoke tailoring into its 340+ stores. Managing Director William Nanda Bissell recently launched Fabels, a premium western wear sub-brand, and implemented RFID and AI technology to optimize operations. The company continues to support micro-entrepreneurs while awaiting a pending public listing to scale its rooted business model. Thu, 13 Aug 2026 10:28:14 GMT https://startupinbrief.com/news/mirae-assets-mavi-raises-rs-1125-cr-in-first-close-of-venture-opportunity-fund-ii https://startupinbrief.com/news/mirae-assets-mavi-raises-rs-1125-cr-in-first-close-of-venture-opportunity-fund-ii "Mirae Asset Venture Investments (MAVI) has raised Rs 1,125 crore in the first close of its Rs 1,800 crore Mirae Asset Venture Opportunity Fund – II. Backed by the Unicorn Growth Fund in partnership with Naver and KRAFTON, the fund targets early growth businesses in AI, deeptech, and advanced manufacturing. MAVI aims to bridge the Series B to Series D funding gap for Indian startups to build enduring companies.". Thu, 13 Aug 2026 10:01:02 GMT https://startupinbrief.com/news/define-who-you-want-to-become-before-taking-action https://startupinbrief.com/news/define-who-you-want-to-become-before-taking-action Drawing on the wisdom of Epictetus, this article emphasizes that personal growth begins with a clear vision of the person one aspires to become. By prioritizing identity over mere goals, individuals can align their daily actions with their core values, making discipline more sustainable. True transformation occurs through consistent, small choices and patience, ensuring that success is authentic and purposeful rather than driven by societal expectations. Thu, 13 Aug 2026 09:00:00 GMT https://startupinbrief.com/news/astrotalks-unicorn-leap-shiprocket-ipo-day-1-more https://startupinbrief.com/news/astrotalks-unicorn-leap-shiprocket-ipo-day-1-more AstroTalk has become India’s 133rd unicorn following an ESOP buyback valuing the platform at $1 billion. The spiritual tech startup is expanding into offline retail and international markets. Other industry news includes Shiprocket’s 97% IPO subscription, Yulu raising $93 million for electric mobility, and Lenskart’s 273% profit surge. Additionally, AI firm Cursor is opening its first Indian office, while SwishX scales its pharma AI solutions. Thu, 13 Aug 2026 08:00:06 GMT https://startupinbrief.com/news/the-real-test-for-ai-agents-is-resolution https://startupinbrief.com/news/the-real-test-for-ai-agents-is-resolution "AI agents are transforming Indian customer service by shifting the focus from response speed to issue resolution. To achieve this, businesses must prioritize context continuity to eliminate data fragmentation, implement continuous learning through real-time feedback loops, and establish strict governance guardrails. By integrating these elements, organizations can ensure consistent, trustworthy outcomes that move beyond templated replies to build stronger, long-term customer relationships and drive revenue.". Thu, 13 Aug 2026 07:50:00 GMT https://startupinbrief.com/news/namakkal-to-bombay-house-journey-of-tata-sons-chairman-chandra-what-milky-mists-ipo-reveals https://startupinbrief.com/news/namakkal-to-bombay-house-journey-of-tata-sons-chairman-chandra-what-milky-mists-ipo-reveals Tata Sons chairman N. Chandrasekaran is stepping down due to board disagreements, triggering a slide in Tata Group shares. Meanwhile, Yulu raised $93 million in Series C funding, and Ola Electric secured a revised PLI window for incentives. Milky Mist's IPO saw strong subscription, while Meta faces a trial regarding child addiction. Additionally, Goldman Sachs is acquiring Neos Investments for $2.25 billion to strengthen its asset management presence. Thu, 13 Aug 2026 07:30:00 GMT https://startupinbrief.com/news/table-space-goes-for-ipo-but-its-growth-story-has-a-catch https://startupinbrief.com/news/table-space-goes-for-ipo-but-its-growth-story-has-a-catch Bengaluru-based Table Space has filed for an IPO, proposing a fresh issue of up to ₹800 crore and an offer for sale of 6.55 crore shares. The company plans to use ₹550 crore to repay borrowings. While Table Space boasts significant scale and operating profitability, it faces risks from high client concentration among large enterprises and continues to report net losses despite strong revenue growth. Thu, 13 Aug 2026 07:00:03 GMT https://startupinbrief.com/news/some-claude-users-are-mad-that-anthropics-new-watermarks-will-catch-them-cheating-at-their-jobs-classes https://startupinbrief.com/news/some-claude-users-are-mad-that-anthropics-new-watermarks-will-catch-them-cheating-at-their-jobs-classes "Anthropic has introduced invisible watermarking for Claude’s outputs to comply with the EU AI Act’s Transparency Code, which requires labeling AI-generated content. While some users on Reddit have criticized the move as unethical or draconian, arguing it penalizes legitimate tool usage, others support the policy. Proponents believe watermarking is a sensible measure to ensure transparency and prevent the deceptive use of AI-generated material.". Thu, 13 Aug 2026 03:56:37 GMT https://startupinbrief.com/news/ai-nuclear-power-firm-fermi-finally-has-a-new-ceo https://startupinbrief.com/news/ai-nuclear-power-firm-fermi-finally-has-a-new-ceo AI nuclear power firm Fermi has appointed Lee McIntire as its new CEO, filling a vacancy left by co-founder Toby Neugebauer. McIntire, a former executive at TerraPower and CH2M Hill, will lead the company's Project Matador, an AI campus in Texas powered by nuclear reactors. This appointment and a new lease agreement with TensorWave have boosted Fermi's stock by nearly 23% as the firm enters its construction phase. Thu, 13 Aug 2026 03:54:00 GMT https://startupinbrief.com/news/sebi-issues-show-cause-notice-to-paytm-over-2023-disclosure https://startupinbrief.com/news/sebi-issues-show-cause-notice-to-paytm-over-2023-disclosure "SEBI has issued a show cause notice to Paytm's key managerial personnel regarding alleged violations of disclosure norms. The regulator is investigating the timing of a December 2023 announcement about scaling down small-ticket loans and whether the information was handled as unpublished price sensitive information. Paytm plans to respond within two weeks, stating the matter has no financial impact despite previous stock volatility following the disclosure.". Thu, 13 Aug 2026 03:06:35 GMT https://startupinbrief.com/news/northrops-robot-space-mechanic-is-a-new-way-to-keep-satellites-at-work-longer https://startupinbrief.com/news/northrops-robot-space-mechanic-is-a-new-way-to-keep-satellites-at-work-longer Northrop Grumman is evolving its satellite life-extension services. After using Mission Extension Vehicles to maintain satellites like Optus, the company is deploying a Mission Robotic Vehicle and Mission Extension Pods. Developed with DARPA, the MRV uses robotic arms to attach propulsion pods to satellites, extending their operational life. This shift toward sustainable space infrastructure aims to reduce waste by repairing and upgrading expensive orbital assets. Thu, 13 Aug 2026 02:23:41 GMT https://startupinbrief.com/news/amazon-will-train-on-twitch-streamers-content-by-default-unless-they-opt-out https://startupinbrief.com/news/amazon-will-train-on-twitch-streamers-content-by-default-unless-they-opt-out Twitch, owned by Amazon, is now utilizing creator content to train generative AI models, sparking significant backlash from its community. Users are opted in by default and must manually disable the setting to prevent their audio and video from being used. Twitch executives admitted that an opt-in system would be ineffective, while some creators remain concerned about whether their data was already used without their prior knowledge. Thu, 13 Aug 2026 01:40:40 GMT https://startupinbrief.com/news/51-lakh-complaints-filed-against-ecommerce-platforms-in-2025-govt https://startupinbrief.com/news/51-lakh-complaints-filed-against-ecommerce-platforms-in-2025-govt The Indian government informed Parliament that over 5.1 lakh complaints were filed against e-commerce and quick commerce platforms on the National Consumer Helpline in 2025, a 14% increase from 2024. Flipkart, Amazon, and Meesho faced the most grievances, primarily regarding non-delivery and defective products. The helpline facilitated ₹91 crore in refunds, while the CCPA penalized 47 platforms ₹1.1 crore amid ongoing food safety crackdowns on quick commerce. Thu, 13 Aug 2026 01:38:49 GMT https://startupinbrief.com/news/grubhubs-24m-ftc-settlement-is-finally-reaching-diners-and-drivers https://startupinbrief.com/news/grubhubs-24m-ftc-settlement-is-finally-reaching-diners-and-drivers The FTC is distributing $23.8 million to over 640,000 Grubhub drivers and customers following allegations of deceptive business practices. The settlement addresses claims that Grubhub misled workers about earnings, listed unaffiliated restaurants to inflate its platform size, and restricted customer account access. As part of the agreement, Grubhub must improve advertising accuracy and obtain restaurant consent before listing. This follows a separate $25 million settlement for California drivers. Thu, 13 Aug 2026 00:04:21 GMT https://startupinbrief.com/news/ai-coding-startup-cognition-reportedly-already-in-talks-to-raise-at-40b-valuation https://startupinbrief.com/news/ai-coding-startup-cognition-reportedly-already-in-talks-to-raise-at-40b-valuation Cognition, the creator of AI coding agent Devin, is seeking a new funding round that could push its valuation to at least $40 billion. This follows a $26 billion valuation in May. The company reports strong enterprise growth and a previous annualized revenue run rate of $492 million. Devin focuses on automating tedious programming tasks for clients like NASA and Goldman Sachs rather than replacing human developers. Wed, 12 Aug 2026 23:49:12 GMT https://startupinbrief.com/news/as-ai-safety-concerns-mount-three-pioneers-make-the-case-for-staying-open https://startupinbrief.com/news/as-ai-safety-concerns-mount-three-pioneers-make-the-case-for-staying-open At the Ai4 conference, AI researchers Geoffrey Hinton, Fei-Fei Li, and Andrew Ng debated the merits of open-source AI. Andrew Ng emphasized openness to avoid corporate gatekeeping and maintain global competitiveness. Geoffrey Hinton warned about the risks of open-weight models but acknowledged their permanence. Fei-Fei Li advocated for a nuanced balance between open and closed systems. All three agreed that regulation is essential for safe development. Wed, 12 Aug 2026 23:21:00 GMT https://startupinbrief.com/news/openai-backed-thrive-holdings-raises-2b-to-bring-ai-to-the-enterprise https://startupinbrief.com/news/openai-backed-thrive-holdings-raises-2b-to-bring-ai-to-the-enterprise Thrive Holdings has raised $2 billion at a $12 billion valuation from investors including SoftBank to expand its AI-driven private equity model. A spinout of Thrive Capital with backing from OpenAI, the firm acquires traditional businesses to implement AI workflows. Having already scaled accounting and IT platforms, Thrive now plans to launch a third vertical focused on regulatory services for critical physical infrastructure and built environments. Wed, 12 Aug 2026 23:11:29 GMT https://startupinbrief.com/news/astrotalk-turns-unicorn-via-esop-buyback https://startupinbrief.com/news/astrotalk-turns-unicorn-via-esop-buyback Spiritual-tech startup AstroTalk has achieved unicorn status with a $1 billion valuation, driven by an ESOP buyback funded through business profits. Founded in 2017, the company expanded from astrology consultations into spiritual commerce. In FY25, AstroTalk reported revenue of Rs 1,176 crore and a profit before tax of Rs 285 crore. This valuation marks a significant increase from its $300 million valuation reported in 2024. Wed, 12 Aug 2026 23:03:23 GMT https://startupinbrief.com/news/yatras-q1-profit-crashes-98-yoy-to-34-lakhs https://startupinbrief.com/news/yatras-q1-profit-crashes-98-yoy-to-34-lakhs Online travel aggregator Yatra reported a significant drop in consolidated net profit for Q1 FY27, plummeting 97.9% to ₹34 Lakhs from ₹16 Cr in the previous year's quarter. This decline was driven by a 10.4% decrease in operational revenue, which fell to ₹187.9 Cr from ₹209.8 Cr. Total income reached ₹192 Cr, while total expenses decreased slightly by 3.6% to ₹191.3 Cr during the period. Wed, 12 Aug 2026 22:52:38 GMT https://startupinbrief.com/news/uber-freight-reportedly-investigating-after-hacking-group-claims-data-breach https://startupinbrief.com/news/uber-freight-reportedly-investigating-after-hacking-group-claims-data-breach The Helix hacking group claimed responsibility for a data breach at Uber Freight, stealing mailboxes, cloud storage, and dispatch documents. Uber Freight stated that business operations remain unaffected. The hackers, part of the UNC6671 collective, typically use voice phishing to gain system access. Google reports that Helix has collected over $10.6 million in ransoms this year by targeting transportation and financial firms through social engineering tactics. Wed, 12 Aug 2026 22:45:41 GMT https://startupinbrief.com/news/mesh-automattics-crm-for-everyone-comes-to-android https://startupinbrief.com/news/mesh-automattics-crm-for-everyone-comes-to-android Automattic's personal CRM, Mesh, has launched on Android, offering network visualization and contact management tools. The app supports platform-specific features like split-screen views and widgets, with real-time synchronization across devices. Mesh integrates with the Beeper messaging app and introduces Nexus AI to help users navigate large networks. Supported by subscriptions, the service prioritizes privacy and targets both business executives and individual consumers via Google Play. Wed, 12 Aug 2026 22:27:58 GMT https://startupinbrief.com/news/why-stream-ring-maker-sandbar-says-the-future-of-ai-wearables-is-voice https://startupinbrief.com/news/why-stream-ring-maker-sandbar-says-the-future-of-ai-wearables-is-voice AI notetaking hardware is evolving from pendants and pins to wearables like rings. Sandbar, the startup behind the private voice ring Stream, has raised $36 million, including a $23 million Series A led by Adjacent and Kindred Ventures. In a TechCrunch Equity podcast, CEO Mina Fahmi discussed the challenges of previous voice devices and his belief that prioritizing human control is essential for the success of wearable technology. Wed, 12 Aug 2026 22:16:02 GMT https://startupinbrief.com/news/bank-of-america-to-buy-499-stake-in-jio-financial-services-nbfc-arm-for-19-bn https://startupinbrief.com/news/bank-of-america-to-buy-499-stake-in-jio-financial-services-nbfc-arm-for-19-bn Bank of America's subsidiary, NB Holdings, has signed a joint venture agreement to invest up to ₹18,268.2 crore in Jio Financial Services' NBFC arm, Jio Credit. The US bank will acquire up to a 49.9% stake, starting with an initial 26.5% holding. This partnership aligns with JFS's strategy of collaborating with global firms like BlackRock and Allianz to scale its fintech operations and expand financial access in India. Wed, 12 Aug 2026 21:56:32 GMT https://startupinbrief.com/news/tesla-wants-to-build-a-10b-solar-factory-in-texas https://startupinbrief.com/news/tesla-wants-to-build-a-10b-solar-factory-in-texas Tesla plans to build a massive solar panel factory, Project Crystal Sun, southwest of Houston, Texas. The project could cost up to $10.1 billion and create approximately 9,700 full-time jobs. Tesla is seeking tax incentives to offset costs, aiming for completion by 2028 with production starting in 2029. This facility supports Tesla's goal of establishing 100 gigawatts of solar manufacturing capacity across the United States by 2028. Wed, 12 Aug 2026 21:48:31 GMT