Maruti Suzuki Partners with 5 Startups to Drive AI-Powered Innovation

Maruti Suzuki India Limited ("Maruti Suzuki") has onboarded five startups: MiniMines, Easework AI, Sarvam AI, Siftly and CodeMate AI to co-create solutions across multiple business areas to enhance operational efficiency and elevate customer experience.

The selected startups are winners of the 5th cohort of the Maruti Suzuki Incubation Program (MSIP). MSIP is organized in partnership with IIM Bangalore's incubation hub for entrepreneurship and startup support, NSRCEL (Nadathur S. Raghavan Centre for Entrepreneurial Learning).

Mr. Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki India Limited said,

"At Maruti Suzuki, we have been actively working with startups to co-create innovative and practical solutions to address real business challenges. We are delighted to collaborate with five more startups. One of these startups, MiniMines, will support us in safely recycling end-of-life batteries, while the other four startups will help improve customer engagement and drive efficiency across our business operations."

Details of the startups and project areas:

Startup	Solution
MiniMines	Environment-friendly recycling of end-of-life Lithium-ion batteries and extraction of precious materials
Easework AI	End-to-end workflow automation of procurement process related indirect consumables using agentic AI
Sarvam AI	GenAI agents, with multilingual support, for better customer interaction across all touchpoints
Siftly	Use of Generative AI for enhancing brand visibility
CodeMate AI	Use of AI for faster development of software applications used in business processes

About Maruti Suzuki's Innovation Programs:

Maruti Suzuki has built multiple programs to provide the right direction and support to startups in developing innovative solutions to help solve real-world business problems. In its journey of 7 years, around 7,400 startups have been screened, over 250 startups were engaged and 38 of these startups have been onboarded as partners, delivering value to our business.

Some of the major programs are:

· Maruti Suzuki Accelerator: Launched in January 2019, through this program, Maruti Suzuki fosters open innovation in the automobile manufacturing and mobility space, by collaborating with growth-stage startups to co-create cutting-edge technological solutions

· Maruti Suzuki Incubation Program: Started in August 2020 with an aim to nurture technology enabled startups defining future of mobility. NSRCEL supports the program by identifying high-potential mobility startups in early-stage, providing hands-on expert mentorship, and offering access to IIM Bangalore's rich academic and entrepreneurial ecosystem

· Mobility Challenge: Initiated in June 2021 to explore new age technologies and help startups in mature stage to showcase their cutting-edge innovative solutions in the mobility space

· Nurture: Started in 2023 as a Pre-Incubation Program for idea-stage startups in collaboration with IIM Calcutta Innovation Park

· FundRays: An investment readiness program for Maruti Suzuki Innovation alumni startups, launched in September 2025 in partnership with ISB Hyderabad

India Empowers DRDO with Faster Defence R&D Approvals

Defence Minister Rajnath Singh has approved the revised Delegation of Financial Powers to DRDO (DFP‑2026), a landmark reform aimed at speeding up defence R&D projects, strengthening industry–academia collaboration, and reinforcing India’s vision of Aatmanirbhar Bharat. The framework decentralises financial authority to enhance efficiency, accountability, and timely execution of strategic projects.

This is a significant development in India’s defence R&D framework. The Delegation of Financial Powers to DRDO 2026 (DFP‑2026) is designed to streamline how projects are sanctioned and executed, ensuring that critical systems move from concept to deployment faster.

By decentralizing financial authority, DRDO labs and clusters can approve projects more quickly without waiting for lengthy clearances. By empowering DRDO, the reform reinforces India’s push for self‑reliance in defence technologies.

DFP‑2026:

Key Features of DFP‑2026

• Enhanced financial autonomy: Greater delegation of powers across DRDO labs and clusters, reducing bureaucratic delays.
• Dedicated provisions: Specific allocations for trial campaigns, testing, and evaluation activities.
• Pre‑project R&D sanctioning: Authorises early‑stage research initiatives to accelerate innovation.
• Clear segregation of powers: Grants‑in‑aid for Extra‑Mural Research, Defence Innovation Accelerator Centres of Excellence, and Technology Development Fund projects are streamlined under separate schedules.
• Industry–academia collaboration: Encourages partnerships with start‑ups, MSMEs, and universities to strengthen the innovation ecosystem.

Strategic Impact

• Faster delivery of defence systems: Critical technologies such as missile systems, airborne surveillance platforms, and combat aircraft projects will benefit from reduced approval timelines.
• Boost to Aatmanirbhar Bharat: Reinforces India’s self‑reliance in defence technologies by empowering indigenous R&D.
• Improved defence preparedness: Ensures timely induction of systems into the armed forces, enhancing operational readiness.
• Operational synergy: Complements the Delegation of Financial Powers to Defence Services (DFPDS‑2026), which expanded financial ceilings for field commanders.

Expert Perspectives

• Government stance: The Ministry of Defence highlights DFP‑2026 as a tool to cut procedural bottlenecks and empower DRDO at multiple levels.
• Analyst view: Former MoD financial advisor Amit Cowshish noted that while the reform improves efficiency, its transformative impact on major strategic programmes may be limited by funding availability and compliance rules.

Conclusion

DFP‑2026 marks a critical step in modernising India’s defence R&D ecosystem, balancing speed with accountability. By decentralising financial powers, it empowers DRDO to deliver cutting‑edge technologies faster, strengthens collaboration with industry and academia, and aligns with India’s long‑term strategic goal of self‑reliance in defence.

Axis Mutual Fund Unveils ‘Axis Account Plus’, India’s First Digital Working Capital Solution for Corporates & MSMEs

• ‘Axis Account Plus’, an industry-first, end-to-end digital working capital management solution helping corporates and MSMEs optimise surplus funds efficiently
• Seamless digital journey with instant transactions, same day redemption, and a unified dashboard offering consolidated visibility across entities
• Available for corporates and MSMEs on the Axis Mutual Fund website

Axis Mutual Fund, one of India’s leading asset management companies, has announced the launch of ‘Axis Account Plus’, India’s first end-to-end digital working capital management solution designed for corporates and MSMEs. It enables businesses to seamlessly invest surplus funds in Axis Mutual Fund eligible debt and liquid schemes through a convenient, faster solution with robust controls and inbuilt governance protocols. As businesses become more strategic about managing operating surplus, investment access must become simpler, more efficient and aligned to dynamic liquidity needs.

The launch comes at a time when India’s mutual fund industry continues to expand its role in the country’s financial ecosystem. At the same time, a significant amount of corporate capital remains underutilised. Nearly ₹25 lakh crore is estimated to be held in current accounts, where it typically earns no returns. India also has a large base of over 31 lakh active corporates and limited liability partnerships, along with more than 8.6 crore MSMEs registered on the Government of India’s Udyam platform.

Despite this scale, participation by non-individual investors in mutual funds remains limited, with institutional folios accounting for approximately 13.6 lakh folios. This highlights the need to make mutual funds access simpler and more relevant for a wider set of investors, including corporates and MSMEs.

For many businesses, surplus funds are held between payment cycles, receivables, working capital requirements and planned expenses. Axis Account Plus addresses this need by enabling businesses to utilise idle funds through a fully digital working capital management solution.

For example, if a company with a balance sheet size of ₹100 crore had ₹10 crore as surplus working capital, it could have deployed this amount through Axis Account Plus solution into Axis Mutual Fund’s debt and liquid schemes for a one-month period. Based on historical performance of Axis liquid fund, this may have potentially generated approximately ₹5.25 lakh over the month ended May 31, 2026 (assuming a simple annualised return of around 5.85%)*. Compared to keeping these funds in a current account with no returns, Axis Account Plus would have enabled the company to potentially earn returns on its surplus funds. Such earnings could then have been utilised to offset routine business overheads or operational expenses, thereby improving overall capital efficiency.

*Past performance may or may not be sustained in future. Please refer annexure 2 on page 3 for performance of the scheme in SEBI prescribed format.

Key benefits and features of Axis Account Plus:

• Better Returns on Idle Funds: Helps invest idle funds and potentially improve working capital management, with no penalty on redemption, and flexibility to park funds from a day upto one year, along with an endeavour for same day credit of redemption proceeds for quick access to cash. 
• Seamless Digital Journey: Supports onboarding, KYC, folio creation and investment execution to be completed entirely online, reducing paperwork, process delays and offline dependencies. 
• Safety & Trust: Investments are regulated by SEBI and managed by Axis AMC, ensuring credibility and security. 
• Robust Controls: Enables businesses to manage transactions through a maker-checker workflow, supporting internal approval processes with inbuilt governance protocols. 
• Service Connects: Transactions updates are received on SMS and email to registered users, maker and checker. 
• Unified Visibility: Provides a one-view dashboard that allows consolidated tracking across investments, including the ability to add a company’s subsidiaries and view holdings at a group-company level. 
• Dedicated Support: Committed relationship manager, accessible via SMS, email and WhatsApp along with regular product updates and insights to help keep investments optimised

Speaking on the launch, B. Gopkumar, MD & CEO, Axis AMC said, “With more than 8.6 crore MSMEs registered on the Government of India’s Udyam platform and approximately ₹25 lakh crore that is estimated to be held in current accounts in Banks, typically earning minimal or no returns, we see this as a huge opportunity to tap in.

With Axis Account Plus, we aim to be the first AMCs to address this opportunity at scale, targeting at least 2–3% of India’s MSMEs and corporates. Our working capital management solution allows MSMEs to park idle business cash seamlessly and efficiently, potential to earn return. This solution enables business-grade workflows and maker-checker controls, with an aim to support the pace, governance and growth ambition of modern enterprises”

With Axis Account Plus, Axis Mutual Fund aims to redefine how businesses approach surplus cash management by bringing together digital convenience, operational control and transaction capabilities on a single. The reinforces Axis Mutual Fund’s focus on innovation and its commitment to enabling corporates and MSMEs to make more efficient financial decisions.

To know more and transact: https://transact.axismf.com/corporate-investments

The Func. Lab Raises $1.5 Million Seed Round to Build India’s Clean-Label Nutrition Brand

The Func. Lab, a nutrition company focused on hydration, protein, and functional wellness, has raised $1.5 million in seed funding from a group of strategic investors, including Nisaba Godrej, Executive Chairperson of Godrej Consumer Products; Anand Piramal, Executive Director of Piramal Group; Abhishek Nayar, former Indian international cricketer and coach; Bhakti Modi, Co-Founder of Tira; Harsh Parekh, Co-Founder of PharmEasy; and Sahil Vora, Founder of Sila Group, alongside participation from others.

The capital will be used to accelerate product innovation, expand distribution, strengthen supply chain capabilities, and support the brand’s growth across digital, quick-commerce, and retail channels.

Founded by celebrity fitness trainer and SOHFIT founder Sohrab Khushrushahi, entrepreneur Sahil Kukreja, and SOHFIT co-founder Daneesh Davar, The Func. Lab was built on a simple belief: consumers deserve nutrition products with transparent labels, purposeful ingredients, and formulations they can trust.

Sohrab Khushrushahi, Co-Founder of The Func. Lab said, “We’ve always believed that nutrition products should be judged by what’s inside the pack, not by marketing claims. This capital allows us to invest further in product development, expand access across India, and continue building a brand rooted in trust, transparency, and effectiveness.”

celebrity fitness trainer and SOHFIT founder Sohrab Khushrushahi, entrepreneur Sahil Kukreja, and SOHFIT co-founder Daneesh

The company’s current portfolio includes Salty Electrolytes, Whey Protein Isolate, Whey Protein Concentrate, and Plant Protein. Products are formulated without gums, emulsifiers, anti-caking agents, artificial sweeteners, or proprietary blends, and undergo independent testing to verify quality and label accuracy.

Since launching in July, 2025, The Func. Lab has established a growing presence across direct-to-consumer, e-commerce, quick-commerce, and offline retail channels. As part of its next phase of growth, Func Lab is making a strategic push into the hydration space with the target of acquiring 50% market share by building India’s most trusted better-for-you electrolyte brand. The company plans to expand aggressively across new hydration formats and functional recovery products while increasing accessibility across thousands of pin codes nationwide.

In relation to her investment, Nisaba Godrej said: “I’m an avid and daily user of both their whey protein and electrolytes. I absolutely love the products and branding. The team building The Func. Lab is authentic, highly driven, and relentlessly focused on creating products consumers genuinely benefit from.”

Anand Piramal commented, “Protein, hydration, and preventive wellness are categories that have massive tailwinds in India. The Func. Lab’s commitment to taste, quality and ingredient transparency positions it well to serve a new generation of health-conscious consumers.”

About The Func. Lab

The Func. Lab is a nutrition company focused on hydration, protein, and functional wellness. Founded in 2025 by Sohrab Khushrushahi, Sahil Kukreja, and Daneesh Davar, the company develops products built around transparent labels, independently tested ingredients, and performance-focused formulations. Its portfolio includes electrolytes, whey protein isolate, whey protein concentrate, and plant protein products.

EBG Group Partners POSCO to Relaunch Daewoo Appliances in India

• 100-store expansion roadmap, and phased localization strategy to drive Daewoo's growth in India's fast-growing appliances market
• Daewoo plans to introduce "DAEWOO One", an integrated smart home ecosystem designed to connect multiple appliances through a single platform while integrating AI and IoT-enabled technologies to create a seamless home experience

EBG Group, a diversified business group, has signed a strategic brand licensing agreement with South Korean giant POSCO International for the iconic Daewoo brand in the Major Domestic Appliances category. Building on its existing association with Daewoo, the agreement enables EBG Group to accelerate the brand's retail, distribution, and market expansion plans across India. The partnership covers categories accounting for nearly 70 per cent of the Home & Kitchen Appliances segment and aims to establish Daewoo as a leading consumer appliances brand in the country.

EBG Founder Dr. Irfan Khan and EBG Co-Founder Hari Kiran with POSCO representative Mr. Chan Ryu during his visit to the EBG office in Hyderabad.

As part of its expansion roadmap, EBG Group has committed an investment of ₹100 crore over next three years towards product development, retail expansion, distribution network strengthening, localization initiatives, and the introduction of new appliance categories tailored to the evolving needs of Indian consumers. To support its nationwide ambitions, the company is building a robust retail and distribution ecosystem. Its first flagship Daewoo experience store in Delhi is nearing launch, with three additional outlets already in the pipeline. EBG Group aims to establish a network of approximately 100 stores across India by 2027.

Under the agreement, EBG Group will lead the development, manufacturing, distribution, and market expansion of Daewoo-branded appliances across India. The company will initially focus on major home appliances, including refrigerators, washing machines, air conditioners, dishwashers, and the entire range of consumer products in a phased manner. Supported by advanced Korean technology, the portfolio is designed to deliver performance, reliability, and energy efficiency for Indian households, with approximately 16 per cent of the initial product range comprising energy-efficient offerings that support more sustainable consumption.

Mr. James Lee, Director of POSCO INTERNATIONAL Corporation said, "India represents one of the most dynamic growth markets for consumer appliances globally. We are pleased to partner with EBG Group, whose deep understanding of the Indian market and long-term vision make them the ideal partner to expand Daewoo's presence in the country. Together, we aim to deliver innovative, reliable, and energy-efficient products that meet the evolving expectations of Indian consumers."

Commenting on the partnership, Dr. Irfan Khan, Founder of EBG Group said, "We are delighted to partner with POSCO International to bring Daewoo's trusted global legacy to millions of Indian households. This partnership lays the foundation for building a long-term consumer appliances business in India. Through our planned investment, localisation roadmap, extensive distribution network, and customer-focused growth strategy, we are committed to making Daewoo a preferred brand for Indian consumers."

“The products will be initially assembled in India using imported components, with localisation levels planned to increase progressively from 20 per cent to 80 per cent over time. The initiative aligns with the Government of India's Make in India vision, supports domestic value creation, and is expected to generate employment opportunities across manufacturing, retail, distribution, and after-sales operations,” Dr. Irfan Khan added.

Daewoo products will be available through a comprehensive omnichannel network comprising company-operated stores, direct-to-consumer platforms, e-commerce marketplaces, quick commerce channels, general trade outlets, and electronics retail partners. Further, Daewoo plans to introduce "DAEWOO One", an integrated smart home ecosystem designed to connect multiple appliances through a single platform. The company also intends to expand its portfolio of energy-efficient products while integrating AI and IoT-enabled technologies to create a seamless connected-home experience for consumers.

About DAEWOO

DAEWOO is a globally recognized Korean brand with a legacy spanning several decades across consumer electronics, home appliances, industrial products, and mobility solutions. The DAEWOO trademark portfolio is managed globally by POSCO International and is present in approximately 160 countries with over 3,500 trademark registrations and applications worldwide.

About POSCO International

POSCO International is a leading global trading and investment company headquartered in South Korea and part of the POSCO Group. The company operates across multiple industries including energy, trading, steel, mobility, food, and consumer businesses with a strong international presence.

About EBG Group

EBG Group is a multi-sector Indian conglomerate with a diversified presence across Mobility, Health, Realty, Lifestyle, Food, Services, Technology, and Education. From sustainable electric vehicles and physiotherapy-led wellness solutions to smart housing, hospitality, and traditional food experiences, EBG builds brands that combine innovation, sustainability, and human purpose. The Group’s Powerhouse hubs align business excellence with its core vision: People • Planet • Progress.