Nykaa and L’Oréal Join Forces to Empower India’s Next Beauty Icons

• The collaboration involves taking minority stakes, ensuring founders retain full operational and creative control of their independent brands.
• Combining capital with strategic mentorship, global beauty expertise, and local insights to support the booming Indian startup ecosystem.

Nykaa, India’s largest beauty retail company, and BOLD (Business Opportunities for L’Oréal Development), the corporate venture capital fund of L’Oréal, today announced a collaboration to jointly invest in the next generation of high-growth Indian beauty and personal care brands.

Through the collaboration, BOLD and Nykaa will take minority stakes in emerging Indian beauty and wellness brands with strong consumer traction and distinctive propositions. Such investments will be purely financial and minority in nature, where founders retain full ownership control and continue to run their businesses independently, with their own teams, culture, and creative direction.

BOLD and Nykaa will act as long-term partners beyond capital to the brands they back, offering mentorship, guidance, and the opportunity to benefit from L’Oréal’s global beauty expertise, alongside Nykaa’s deep omnichannel retail network and consumer ecosystem understanding. The intent is to help ambitious Indian beauty founders scale faster and build enduring brands for India & the world.

Jacques Lebel, Managing Director, L’Oréal India, said: “India is one of the most exciting beauty markets in the world, and its energy comes both from an expanding base of demanding consumers with rapidly evolving needs and from its ecosystem of tremendous entrepreneurs. Through BOLD and this partnership with Nykaa, we want to stand behind that talent — backing founders with capital, mentorship, and L’Oréal’s beauty expertise, while leaving them free to build their brands their way. Our commitment to India is stronger than ever, and this is the next major milestone in a journey of partnership and growth that we began over three decades ago.”

Anchit Nayar, Executive Director and CEO, Nykaa Beauty, said: “Nykaa and L’Oréal have been partners in India for over a decade, working together on our shared vision of making India into one of the world's largest and fastest growing beauty markets. The experience and lessons we have learned along the way have allowed us to understand what it takes to build a promising brand into an enduring one. Combining our strong consumer ecosystem, deep retail network and wide distribution, along with L’Oréal’s global beauty expertise will be an incredibly valuable asset to the next generation of founders as they look to build consumer brands that India can be proud of.”

IIT Delhi-Duo Founded ByteAsk Raises $1M in YC-led Funding to Reinvent AI Coding for C++

[L-R] – Pratyush Saini, Co-founder and CTO, ByteAsk, Anirudha Kulkarni, co-founder and CEO ByteASK 

ByteAsk raises $1 million in YC-led pre-seed round to build AI coding agents for C and C++

ByteAsk, founded by former LawSutra AI co-founders Anirudha Kulkarni and Pratyush Saini, is building AI coding agents for C and C++ developers working in high-stakes industries.

Anirudha Kulkarni and Pratyush Saini, two IIT Delhi computer science graduates who previously built and sold legal AI startup LawSutra AI to Manupatra, one of India’s pioneers in online legal research, have started their second company, ByteAsk. The company has raised $1 million in pre-seed funding from Y Combinator and Entrepreneur First, alongside investments from angels working at leading global quantitative trading firms.

Founded in June 2026 and headquartered in San Francisco, with operations spanning the US and India, ByteAsk is building AI coding agents for C and C++, focused on developers working in mission-critical environments across defence, aerospace, robotics, high-frequency trading, finance, embedded systems, automotive and semiconductors. The company has also been selected for Y Combinator's Fall 2026 batch and is one of five India-founded young companies in the cohort. It is the only India-founded company in the batch focused on the “neolab” model of building deeply technical companies around emerging AI capabilities.

The founders, Anirudha Kulkarni and Pratyush Saini, first met as undergraduate students at IIT Delhi and worked together on multiple academic projects before starting LawSutra AI in January 2026. The legal-tech startup set out to make legal research faster and more reliable with AI, addressing the limitations of traditional keyword-based tools and the difficulty of relying on generic AI chatbots for high-stakes legal work due to hallucinations and unreliable citations. Anirudha’s family background in law gave the founders an early understanding of these challenges and how they affected lawyers in their day-to-day work.

LawSutra addressed the gap through semantic legal search, enabling the system to understand the context and meaning behind a legal query rather than relying solely on exact keyword matches. By building closely with lawyers and incorporating their feedback into the product, the startup quickly attracted interest from 5,000+ lawyers and saw its user base grow week-on-week, making it one of the fastest-growing legal-tech startups in its segment. This early combination of user adoption, product validation and growing market traction led to the startup being acquired by Manupatra, one of India’s pioneers in online legal research and a leading legal technology ecosystem, within four months of its founding.

Manupatra tested LawSutra's search technology on its own legal data. 97.5% of the results were found to be relevant to the queries, the highest among the AI solutions tested. Its technology now runs inside Manupatra AI Search, which serves lawyers, judges, law firms, government institutions and other legal professionals across India.

Both founders bring deep experience across AI, C++, systems engineering and high-performance computing, with their professional careers spanning quantitative trading, AI infrastructure, cybersecurity and developer systems.

Kulkarni holds a B.Tech and an M.Tech in Computer Science from IIT Delhi. Before ByteAsk, he worked on low-latency C++ systems at Optiver and core data and markets engineering at Quantbox Research, where he built a Python-to-C++ optimising transpiler that reduced execution time from 1.5 seconds to 150 nanoseconds in production environments. He was also part of Optiver’s Delta One trading team and has a background in competitive programming and quantitative research.

Saini holds a B.Tech in Computer Science and Engineering from IIT Delhi. Before ByteAsk, he was a Senior AI Engineer at ThirdAI, where he worked on large-scale neural network training and inference infrastructure, and a founding engineer at SimbianAI, where he helped build AI security agents handling more than a million security incidents annually. At LawSutra AI, he designed the search engine and lawyer-grade evaluation system that formed the core of the company’s legal AI technology.

Deepak Kapoor, Founder and CEO, Manupatra, said, “LawSutra’s semantic capability stood out for combining strong technology with a clear understanding of how lawyers actually research. Its performance on Manupatra’s proprietary data, together with the team’s technical depth and responsiveness, led us to explore the acquisition. By integrating this capability with Manupatra’s proprietary legal database and research platform, we can now bring more intuitive, intent-driven legal search to the wider legal community through Manupatra AI Search.”

From legal AI to the software behind critical systems

ByteAsk was born out of a personal pain point the founders had experienced firsthand. They saw an important gap in how AI was being applied to C and C++, particularly for developers working in environments where reliability, performance and correctness are critical. While AI coding tools had dramatically changed software development, they found that the same gains had not translated equally well to C and C++.

The founders identified a significant gap in model performance on C and C++. Rather than building another generic AI coding assistant, they decided to focus on the grounding, verification and reasoning infrastructure required to make AI useful for complex systems programming. Before building the product, the team gathered publicly available evaluations of AI on C and C++, built its own tests around real bugs engineers had encountered, and evaluated leading AI models to understand where they failed.

“Seeing AI transform software development while C and C++ developers still struggle with the limitations of generic coding agents made us realise there was a significant gap to address. From the very beginning, we wanted to work on a problem that was technically difficult and had a large global upside. C++ sits underneath many of the systems the world depends on, but AI has not yet solved the engineering challenges developers face there. Building LawSutra taught us that models are only as useful as the context, verification and workflows around them. At ByteAsk, we are applying that same philosophy to code”, said Anirudha Kulkarni, Co-Founder and CEO, ByteAsk.

According to industry estimates, C++ represents an approximately $400 billion industry in annual salary spend, while they see agentic coding as a roughly $10 billion opportunity growing rapidly year-on-year. Rather than attempting to serve every software developer immediately, ByteAsk is starting with organisations where the combination of C++, AI and reliability creates the most acute need.

“C and C++ power a huge amount of the world's critical infrastructure, but the gains we've seen from AI coding tools have not translated equally well to these environments,” said Pratyush Saini, Co-Founder and CTO, ByteAsk. “We wanted to work on a problem where reliability, verification and context matter as much as generation.”

Commenting on the investment, Nemil Dalal, Visiting Partner Y Combinator, said, “When applying to Y Combinator for ByteAsk, what stood out about Anirudha and Pratyush was their passion, authenticity, and technical expertise. They saw a large group of software developers that were left out of current AI coding tools and had figured out how to make them more productive.”

Building AI coding agents for high-stakes engineering

The fresh capital raised will support ByteAsk’s next phase of product and infrastructure development, with the company planning to expand its engineering and research teams across San Francisco and Bengaluru, invest in GPU compute and training data, and build enterprise-grade security, privacy and on-premises infrastructure for customers in sensitive industries.

The company plans to initially focus on large firms in high-frequency trading, automotive and embedded systems, before expanding into adjacent markets. The founders say that engineers are using ByteAsk approximately six times more intensively each day than a comparable open-source coding agent, while its weekly active users are doubling week-on-week. On its internal benchmark of real firmware engineering tickets, ByteAsk says its grounding environment enables a smaller model to resolve 89% of tickets, compared with 61% for the best frontier model tested without the environment.

ByteAsk is also developing its own post-training approach for C++, with the aim of releasing one of the first language models specifically post-trained for the language within the next six to eight months.

About ByteAsk

ByteAsk is building AI coding agents for C and C++. Founded in 2026 by IIT Delhi alumni Anirudha Kulkarni and Pratyush Saini, ByteAsk focuses on helping engineers solve complex software problems in mission-critical environments where accuracy, reliability, security and performance are essential. The company is backed by Y Combinator and Entrepreneur First, with additional support from angel investors from the quantitative trading industry.

Ultraviolette Secures $85M to Power Global EV Expansion

Ultraviolette Announces $85 Million Funding Round to Advance its Next Generation of Global EV Platforms

• Round was led by Deep Tech Fund Yali Capital and TDK Ventures.
• Lip-Bu Tan, Chairman, Walden International invests in Ultraviolette; comes on board as Advisor to Ultraviolette.
• The fresh infusion of funds follows Ultraviolette's announcement of its new manufacturing facility scaling production up to 500,000 units annually.
• Ultraviolette currently offers the F77 and X-47 Crossover electric motorcycles with state-of-the art design, technology and performance; soon to be launched products include the Tesseract scooter and Shockwave enduro motorcycle.
• Ultraviolette currently retails in India and 20 European countries.
• Targets entry into the US market in 2027.

Ultraviolette today announced a new funding round of $85 million. The round was led by Deep Tech Fund Yali Capital and TDK Ventures and investment from Lip-Bu Tan, Chairman of Walden International & Advisor to Ultraviolette, alongside Ultraviolette's current and long-term investors.

The funding marks an important milestone in Ultraviolette's journey as it scales its manufacturing capabilities, advances the development of its next generation of electric vehicle platforms and accelerates its international expansion. The company is targeting entry into the United States in 2027, alongside a broader expansion across key markets in Latin America and South-East Asia.

Ultraviolette will deploy the capital towards scaling production for its current products F77 and X-47 and upcoming products, Tesseract and Shockwave, to serve the rapidly growing domestic and international demand.

This investment will also support the development of Ultraviolette's next generation of global EV platforms. These platforms will build upon the company's vertically integrated capabilities across battery technology, power electronics, vehicle architecture and intelligent software.

Lip-Bu Tan, Chairman of Walden International commented, "What I really like about Ultraviolette is the combination of deep engineering expertise, strong IP, and the willingness to take on genuinely difficult problems. They have built the technology from first principles and are focused on creating something that is truly differentiated for the long term."

Ganapathy Subramaniam, Founding Managing Partner, Yali Capital said, "India's shift towards cleaner mobility will increasingly be driven by electric two-wheelers, given the scale of the segment. What attracted us to Ultraviolette is the depth of engineering the team has built in-house; from the battery, powertrain to software and radar and their focus on applying this technology to real rider needs, especially safety. Ultraviolette has taken the F77 from concept to the roads in India and Europe, and brought radar-based safety features into a production two-wheeler with the X-47. With the Tesseract, launching early next year, they will bring this engineering and safety focus to scooters and a much wider set of riders. This combination of deep technology, product focus and ambition gives us strong conviction in Ultraviolette, and we are proud to back them."

Ravi Jain, Investment Director, TDK Ventures commented, "The adoption of electric two-wheelers can be accelerated by superior products powered by differentiated technology. We continue to believe that Ultraviolette is best positioned to catalyze this transition and build winning products for global markets."

Ultraviolette Founders Narayan Subramaniam & Niraj Rajmohan, shared "This funding round represents an important step in Ultraviolette's evolution into a global electric mobility company. The conviction demonstrated by Yali Capital, TDK Ventures, Lip-Bu Tan and our long-term investors reinforces our vision of building a design and tech focused global brand out of India. This investment will enable us to scale manufacturing, accelerate the development of our future product platforms and deepen our presence across international markets. Our single minded focus is about being a global leader in future mobility; electric vehicles that bring together uncompromising performance, future centric design and advanced technology."

Ultraviolette has built deep technical capabilities spanning battery architectures from 48V to 400V, enabling the company to develop electric mobility solutions across multiple vehicle segments and performance requirements. Ultraviolette is one of the only electric vehicle manufacturers globally with in-house technology capabilities spanning this range of battery architectures. This breadth of expertise gives the company the ability to engineer platforms around the specific performance, range, thermal-management and packaging requirements of different vehicle categories.

About Ultraviolette Automotive:

Ultraviolette (UV) is an innovator in future-ready Electric Vehicle Platforms and Battery Technology. Infused with Aviation DNA, this enterprise was conceived in 2016 by the founders, Narayan Subramaniam and Niraj Rajmohan. Ultraviolette is backed by a spectrum of global investors, including Lingotto, TDK Ventures, Qualcomm Ventures, Zoho Corporation, TVS Motors, and Speciale Invest. It is the first Indian electric manufacturer to secure a European certification for its motorcycles. Ultraviolette has expanded its global footprint, exporting to 20 countries across Europe including Germany, France, Spain, Portugal, the UK, Belgium, Netherlands, Italy, Switzerland and Hungary.

For more information, visit https://www.ultraviolette.com/

Lumikai Leads $600K Pre-Seed Round in Demoverse, An AI Platform Turning Consumers Into Product Co-Creators

• Demoverse is an AI co-creation platform where brands build products with consumers, not just for them.
• The company calls this shift the move from User Generated Content to User Generated Products, UGC to UGP.
• The platform allows consumers to reshape brand concepts using AI, with the community voting on the strongest directions before brands commit to production.
• Founder Akshay Mehta helped build the UAE's first commercial-scale satellite manufacturing facility, an experience that left him asking whether AI could open product creation to a much larger group of people.
• The capital raised will be used to convert early brand partnerships into paid campaigns, build out Demoverse's US go to market, and grow the consumer creator community.

Demoverse, an AI powered co-creation platform that enables brands to build products directly with consumers, announced it has raised $600K in a pre-seed funding round. The round was led by Lumikai, India's first interactive media, digital platforms, and games focused VC fund. Lumikai invested $500K as part of Pixels, its pre-seed program for founders building the next generation of interactive platforms. The round also saw participation from Marlan, the UAE based investor-operator focused on deep-tech, and a group of angel investors.

Consumer brands have spent decades trying to predict what people will buy. Getting that prediction wrong is expensive. McKinsey and BoF estimate that the fashion industry alone produced between $70 billion and $140 billion worth of excess inventory in 2023, a pattern that is visible across consumer brands.

The point behind Demoverse is simple: make something people want, with consumers shaping the design before brands commit to production.

Brands post a product concept or design direction on the platform, along with guidelines for what can and cannot change. Consumers then use AI to reshape and refine the concept, and the wider community evaluates and votes on the strongest directions.

What comes back is a clear product direction and a demand signal, ahead of any production commitment. Consumers whose ideas shape the winning design also earn royalties when the product is commercialised, giving the community a genuine stake in the outcome.

Demoverse describes this shift as moving consumer participation from User Generated Content (UGC) to User Generated Products (UGP).

Founded by Akshay Mehta, Demoverse builds on his experience helping construct the UAE's first commercial scale satellite manufacturing facility, work that left him asking whether AI could open product creation to a much larger group of people. Before founding Demoverse, he spent eight years across investing, consulting and operating roles, including Bain, Z47 (formerly Matrix Partners India), Asia Alternatives and the UAE’s Royal Group's deep tech investment platform.

Akshay Mehta, Founder of Demoverse, said: "Two decades of social media have trained people to form and express opinions on everything they see. Two years of AI have given the masses the ability to express what they want in a visual format. We have a golden opportunity to bring these trends together and open the canvas where people design and build the products they use, and benefit from their commercial success."

The company is starting in fashion, where consumers tend to have strong opinions on design and visual identity, and plans to extend the model into beauty, CPG and other consumer categories over time. It has already run early trials with Indian consumer brands and is using this round to convert those early partnerships into paid campaigns as it builds towards its next phase of growth.

For Lumikai, the investment extends its thesis around interactive consumer platforms: as AI increases the ease and reduces the cost of creation, consumers will increasingly move from passive audiences to active participants in what gets created.

Salone Sehgal, Founder and Managing Partner at Lumikai, said: "AI is going to make it possible to create an almost infinite number of products. But infinite supply doesn’t solve the fundamental problem: what do people actually want? Demoverse closes that loop. Instead of asking consumers what they might buy through a survey or trend report, it gives them the tools to actually shape the product before it gets made.

We believe the next evolution of UGC is UGP: User Generated Products. Consumers won’t just create the content around brands. Increasingly, they will participate in creating the products themselves. Akshay saw this shift early, and we’re excited to partner with him as he builds it.”

About Demoverse

Demoverse is an AI powered co-creation platform that lets consumer brands build products with their customers, not just for them. Consumers create, refine and vote on designs using AI within brand guidelines, and contributors to winning products earn royalties. The company is starting in fashion and plans to expand across consumer categories. Demoverse is part of the NVIDIA Inception program. For more information, visit: https://demoverse.ai/.

About Lumikai

Lumikai is India’s specialist VC firm focused on interactive media, digital platforms and games. The fund invests in early-stage founders building across original IP, games, digital media, immersive platforms, and frontier tech. The firm has backed category leading companies including EloTV, Story TV and Master AI (India’s #1 social entertainment, micro-drama and edutainment platform) Supernova and Superflow (#1 educational app in India, building an AI communication OS), AutoVRse (India’s fastest-growing enterprise VR company), among many others. A seed stage investor, it also runs Lumikai Pixels, itspre-seed program for founders in their -1 to 10 journey of building the next generation of interactive platforms. For more information, visit https://www.lumikai.com/.

How Bangalore’s Startup Ecosystem Is Driving Demand for Flexible Office Spaces

Welcome to India’s technology capital - Bangalore. Founders in the early stage often test ideas with rapidly scaling teams. Ambitious entrepreneurs tend to meet enthusiastic investors and global companies are already building future-proof teams that can get things done. However, one shift is noticeable amidst all of this: Rigid office leases don’t work anymore, smart founders are opting for the more flexible managed or coworking office spaces to maximize their potential for growth.

Choosing an office space is way past being just about having enough desks, chairs and a business address. You now have the option to consider your business agility, scalability, hiring process, team culture, revenue flow and a lot more while shortlisting your next office space, made possible through coworking and managed office spaces.

That explains the rising demand for flexible office spaces in Bangalore. Managed office spaces, coworking office spaces, leadership cabins and the freedom to customise your office space, all under one roof.

Why Bangalore’s Startup Ecosystem Needs Flexible Office Spaces

Bangalore’s startup ecosystem is built on speed. A startup in the modern era can start with a team as small as 5 members, grow to 30 after the first funding, expand to 100 members in a few years and might have to restructure their team again based on market highs and lows. Traditional offices are not built with this intention.

If we were to list out the problems in choosing a conventional office space, here are a few:

• Long, un-alterable lease terms
• Hefty deposit sums
• Interior Design and Setup
• Purchasing office furniture
• Continuous end–to–end operational supervision

Any startup will struggle to focus their attention on product development, sales, hiring and customer acquisition when they spend most of their time in operational activities rather than outsource it to a workspace provider.

In a city like Bangalore, this matters more than ever because the city’s startup ecosystem is tightly tied to technology. Businesses with unpredictable cycles like SaaS, fintech, artificial intelligence, digital services, consulting, etc., need client-ready meeting rooms, cabins or pods for their team members, and a good central location for easy commute as well. When it comes to hybrid teams, they might prefer flexible seating rather than fixed capacity seating.

This is exactly where coworking and managed office spaces become valuable.

Bangalore Is Leading India’s Office Space Demand

The rise in flexible office demand is not happening in isolation. Bangalore continues to remain one of India’s strongest office markets.
In Q1 2026, Bengaluru led India’s office leasing market with 5.3 million sq. ft. of office space leased and a 24.8% share of national leasing activity. The city also recorded strong demand from Global Capability Centres (GCC’s), technology firms, and enterprise occupiers.

On a national level, India’s Grade A office leasing in the top seven cities touched 18.3 million sq. ft. in just the first quarter of 2026. This means a 15% annual growth with just Bengaluru and Hyderabad accounting for almost half of the total leasing activity.
For startups, this opens up a path for reconsiderations. They need the advantages of a professional office without the burden of traditional real estate complexity.

Startup Funding Is Creating New Workspace Demand

Strong, reputed investors have had their eyes on the Bangalore startup ecosystem for a while now. In the first financial quarter of 2026, Bengaluru was leading India’s startup funding race with over $823 million raised with the help of 89 deals, way ahead of Mumbai, Delhi and other metropolitan cities.

Funding directly influences workspace demand. When startups raise capital, they often expand teams, hire leadership, build sales functions, and create stronger internal systems. This is when many founders begin looking for more structured office environments.

But funded startups are also careful about the runway. They do not want to lock large amounts of capital into deposits, interiors, and office setup. They need workspaces that make them look professional to their clientele, take care of daily operational activities and allow them to scale without hindrance.

Flexible office spaces in Bangalore are slowly becoming the new natural choice for startup founders.

Why Startups Prefer Flexible Office Spaces Over Traditional Offices

1. Lower Upfront Cost

Traditional office setup can demand heavy capital even before the team starts working. Deposits, furniture, interiors, electricity, internet, housekeeping, security, repairs, and compliance can quickly become a financial burden.

Flexible office spaces reduce this upfront pressure. Startups can access fully equipped workspaces with meeting rooms, internet, maintenance, reception support, and common amenities included.

For early-stage founders, this helps protect the runway and keeps capital focused on growth.

2. Faster Move-In Time

In a competitive startup market, speed matters. A company that needs three months to set up an office loses valuable time. Flexible office spaces allow teams to move in faster and start working almost immediately.

This is especially useful for startups that have just raised funding, onboarded a new project team, or signed an enterprise client and need a stable workspace quickly.

3. Easier Team Scaling

A startup’s team size can change quickly. Hiring may happen in phases. Some teams may work hybrid. Some departments may need separate spaces. Traditional leases do not easily support this.

Flexible office spaces allow companies to start with a smaller setup and expand when needed. This makes them ideal for startups moving from 10 to 30 members, 30 to 100 members, or even larger teams that require managed office space.
For growing teams, a scalable managed office can offer the right balance between flexibility and control. You can also read Beginest’s detailed guide on choosing a workspace for a 30–500 member startup team.

4. Better Locations Without Full Leasing Risk

Bangalore’s startup teams often want to be close to talent, clients, investors, metro connectivity, restaurants, and business hubs. Locations like Indiranagar, MG Road, JP Nagar, Koramangala, and Central Bangalore are attractive because they support both work and accessibility.
But taking a traditional office in a prime location can be expensive and complicated.

Flexible office spaces help startups access premium business locations without committing to a full long-term lease.

Beginest Workspaces offers coworking and managed office spaces in Bangalore across key business-friendly locations for teams that need accessibility, flexibility, and professional infrastructure.

5. Less Operational Distraction for Founders

Founders should be spending time on customers, product, hiring, and growth. But in traditional offices, they often get pulled into operational issues: internet problems, furniture changes, maintenance delays, pantry issues, vendor coordination, and office repairs.
Managed office spaces reduce this distraction. The workspace partner handles day-to-day office operations while the team focuses on work.

For startups, this is not just convenience. It directly improves productivity.

How Coworking Spaces Support Early-Stage Startups

Coworking spaces are especially useful for early-stage startups, freelancers, consultants, remote teams, and small businesses. They provide a professional setup without the cost of a private office.

A coworking space gives founders access to desks, meeting rooms, internet, community areas, and business infrastructure. It also creates opportunities to meet other entrepreneurs, service providers, potential partners, and future team members. 

In Bangalore, where networking is a major part of startup growth, coworking spaces can support both productivity and community.
Beginest has already explored this in its blog on why coworking spaces in Bangalore are growing fast, especially for entrepreneurs, remote teams, and startups looking for flexible workspace options.

Why Managed Office Spaces Are Becoming the Next Step for Growing Startups

As startups grow, their workspace needs become more defined. A small coworking setup may work for the first few months, but a 30-member, 100-member, or 300-member team needs more structure.

This is where managed office spaces become important.

A managed office gives startups a private, branded, fully managed workspace without the headache of building and running the office themselves. The company gets the privacy and control of a traditional office while still enjoying the flexibility and operational support of a workspace partner.

Managed offices are useful when startups need:

• Dedicated private work areas
• Custom seating layouts
• Meeting and boardrooms
• Branding opportunities
• Access control
• Scalable team capacity
  

DRDO Unveils New Push to Bring MSMEs and Start-ups Into India’s Defence Technology Ecosystem

New Delhi, September 15, 2026: India is stepping up efforts to build a more integrated and self-reliant defence manufacturing ecosystem, with the government placing MSMEs and deep-tech start-ups at the centre of the country’s next phase of defence innovation.

At the VIMARSH 2026 DRDO-Industry Synergy Meet in New Delhi, Defence Minister Rajnath Singh unveiled a series of policy initiatives aimed at reducing the technical and financial barriers faced by smaller companies seeking to enter the defence sector.

The initiatives include direct funding, incubation support, dedicated access to DRDO testing facilities and a new framework for securely sharing DRDO-developed software source codes with licensed industries. The objective is to accelerate innovation, improve technology absorption and strengthen India's domestic defence supply chain.

From technology development to an integrated defence ecosystem

The significance of VIMARSH 2026 goes beyond individual technology transfers. The government is seeking to change the way India's defence establishment and private industry work together.

Rajnath Singh said DRDO-industry collaboration should no longer be restricted to manufacturing. Instead, cooperation should extend across the entire value chain—from research and design to testing, certification and manufacturing.

The underlying model is one of complementary  capabilities: DRDO contributes scientific knowledge and defence technologies, established industry provides manufacturing scale, start-ups contribute innovation and agility, while India's young talent pool supplies the next generation of technological capabilities.

This approach could potentially make the defence industry less dependent on a small number of large manufacturers and create more opportunities for smaller technology companies to participate in complex defence programmes.

New policy support for MSMEs and deep-tech start-ups

One of the most important announcements at VIMARSH 2026 is the effort to lower the entry barriers for MSMEs and deep-tech start-ups.

The new framework is designed around several forms of support:

• Direct funding for promising companies
• Incubation support to help technologies move towards maturity
• Dedicated access to DRDO testing facilities
• Greater emphasis on industry-led research and development
• Funding and mentorship for start-ups and MSMEs
• Stronger academia-industry collaboration
• Opportunities to work on emerging technologies such as artificial intelligence, quantum computing, hypersonics and directed-energy systems.

For smaller companies, access to testing and validation facilities can be particularly important. Defence technologies often need to meet demanding operational, reliability and certification requirements before they can enter service. Providing structured access to testing infrastructure could therefore help promising technologies move more efficiently from laboratory concepts towards deployable systems.

A new framework for sharing defence software source code

Another significant initiative unveiled at the event is a standardised and secure framework for sharing DRDO-developed software source codes with licensee industries.

The move is intended to support the development of software-defined defence capabilities and help address technology obsolescence.

As modern military systems increasingly depend on software, secure access to relevant source code can become important for maintaining, adapting and upgrading systems over their operational lifetimes.

The framework therefore represents an attempt to make the technology-transfer process more relevant to today's increasingly software-intensive defence environment.

Nine technology-transfer agreements handed to 13 manufacturers

The event also saw nine Licensing Agreements for Transfer of Technology (LAToTs) handed over to 13 manufacturing partners.

These agreements are intended to enable commercial production of state-of-the-art defence systems.

Technology transfer is an important component of India's defence-indigenisation strategy because it allows technologies developed through public-sector research to move into industrial production.

The government says the expansion of technology transfer has already helped establish parallel production lines for meeting the requirements of the armed forces while also benefiting MSMEs and expanding India's previously limited manufacturing base.

According to Defence Secretary and Secretary, Department of Defence R&D, Rajesh Kumar Singh, more than 2,300 technology transfers have so far been handed over to more than 1,100 industries. He also said technologies relating to approximately 50 DRDO-developed missiles have been made available to industry to encourage greater participation.

Industry outreach gets a further push

VIMARSH 2026 also sought to broaden participation beyond established defence companies.

Strategic MoUs were exchanged with the Society of Indian Defence Manufacturers (SIDM) and Laghu Udyog Bharati (LUB) to expand industry outreach and encourage grassroots participation.

DRDO also signed a contract with the Quality Council of India for System for Advance Manufacturing Assessment and Rating (SAMAR) version 2.0.

The system is intended to benchmark the manufacturing maturity of domestic defence enterprises.

Such standardisation can help provide a clearer picture of the capabilities and maturity levels of companies operating within the domestic defence manufacturing ecosystem.

India's defence transition: From importer to exporter

The policy push comes against the backdrop of India's stated ambition to transition from a defence importer to a defence exporter.

Rajnath Singh specifically highlighted areas such as drone technology, artificial intelligence and cybersecurity where MSMEs and start-ups could accelerate innovation and strengthen India's technological and strategic capabilities.

He described MSMEs as both the backbone of India's economy and a critical component of the defence ecosystem, while stressing the importance of quality, delivery, innovation, global standards and partnerships with larger companies.

The broader objective is to develop a defence industrial base capable not only of satisfying domestic requirements but also of competing in international markets.

Defence reforms creating space for private innovation

The government has pointed to a series of reforms undertaken in recent years to reduce India's dependence on defence imports.

These include:

• Positive Indigenisation Lists
• Make in India
• iDEX
• ADITI
• Allocation of 25% of the defence R&D budget to the private sector
• Grants for start-ups through the Technology Development Fund.

According to the Defence Minister, these measures have helped create a new ecosystem in which start-ups can develop solutions based on actual operational requirements.

The emphasis on operational requirements is particularly important. Rather than innovation being developed in isolation, the ecosystem is designed to connect technology developers with the needs of India's armed forces.

VIMARSH's bigger message: From buyer-seller to co-creation

The theme of VIMARSH 2026 was “Varta se Vikas”, and the event was designed to connect commercial innovation with national defence readiness.

Rajesh Kumar Singh described the objective as moving India's defence ecosystem away from a traditional transactional buyer-seller relationship towards a collaborative, co-created technology ecosystem.

That shift could be significant for emerging defence technologies, where development cycles can be complex and close interaction between researchers, manufacturers and end users is often necessary.

Focus on faster technology absorption

The technical sessions at VIMARSH 2026 covered roadmaps across several major DRDO technological clusters, including:

• Aeronautical Systems
• Missiles
• Armaments
• Microelectronics
• Naval Systems

DRDO headquarters also introduced initiatives aimed at simplifying procedural compliance, accelerating access to facilities and reducing licensing timelines.

A high-level panel involving DRDO, the Department of Defence Production and the armed forces discussed ways to accelerate technology absorption, optimise Development-cum-Production Partner models and speed up the induction of indigenous technologies into active service.

The focus on speed is important because developing a technology is only one part of the defence innovation cycle. Its value ultimately depends on how efficiently it can be tested, certified, manufactured and inducted.

Preparing for the technologies of future warfare

A particularly forward-looking aspect of the initiative is its focus on technologies expected to shape future military capabilities.

The policy initiatives explicitly identify AI, quantum computing, hypersonics and directed energy as areas where investment and collaboration should be encouraged.

Rajnath Singh stressed that technological leadership would increasingly determine strategic advantage in future warfare, arguing that companies investing in emerging technologies today could become tomorrow's technology leaders.

For India's start-up ecosystem, this potentially opens a much wider field than conventional defence manufacturing. Companies working in artificial intelligence, advanced computing, autonomous systems, cybersecurity and other deep-tech fields could increasingly find opportunities within defence programmes.

A long-term vision for 2047

The initiatives announced at VIMARSH 2026 form part of a larger vision linked to Viksit Bharat 2047.

According to Rajnath Singh, India's goal by 2047 is to achieve self-reliance in critical technologies, substantially increase indigenous content, achieve multi-fold growth in defence exports and establish a robust presence in global supply chains.

This means the ambition extends beyond simply replacing imported defence equipment.

The larger objective is to build an ecosystem in which India can research, design, develop, manufacture and export advanced defence technologies while maintaining control over strategically important capabilities.

DRDO's growing technology-transfer footprint

The scale of technology transfer highlighted at VIMARSH provides an indication of how the ecosystem is evolving.

With more than 2,300 technology transfers involving over 1,100 industries, DRDO's research is increasingly being connected with private and industrial manufacturing capabilities.

The next challenge is to deepen this network—particularly by bringing more MSMEs and start-ups into the supply chain.

Smaller firms can play an important role in specialised components, subsystems and niche technologies. Rajnath Singh specifically highlighted their role in developing components and subsystems alongside major defence systems.

More than a defence manufacturing programme

VIMARSH 2026 ultimately reflects an attempt to build a broader national defence innovation ecosystem.

The event brought together more than 250 defence industry leaders, industry chamber representatives, senior civil and military officials and DRDO scientists, with the Secretary of the Department for Promotion of Industry and Internal Trade also participating.

The presence of such a broad group underlines the increasingly interconnected nature of India's defence technology ambitions.

The government's message is clear: building an Aatmanirbhar defence sector will require more than government laboratories and large defence manufacturers. It will require start-ups, MSMEs, academia, established companies, researchers and the armed forces to work together.

What VIMARSH 2026 could mean for India's defence industry

The immediate announcements at VIMARSH 2026 can be viewed as pieces of a larger strategy:

Lower barriers → more start-ups and MSMEs → greater innovation → faster technology transfer → stronger domestic manufacturing → higher indigenous content → greater export potential.

Whether this translates into sustained technological leadership will depend on how effectively the new frameworks are implemented and how quickly technologies can move from research and prototypes into reliable, scalable production.

But the direction is unmistakable. India is seeking to move from a defence ecosystem centred primarily on procurement towards one increasingly based on domestic innovation, collaborative development and industrial co-creation.

As India works towards its 2047 objectives, the ability to connect DRDO's technological capabilities with the speed and innovation of private industry could become one of the defining factors in building a globally competitive Indian defence-industrial base. 

Ceramat’s 3D‑Printed Grafts Put India on Global Medical Map with TDB-DST Support

Representative Image

In a significant stride toward strengthening India’s medical technology ecosystem, the Technology Development Board (TDB) under the Department of Science & Technology (DST) has extended financial assistance to Ceramat Private Limited, Palghar, Maharashtra, for the commercialisation of advanced 3D-printed patient-specific bone grafts.

The project, titled “Calcium Phosphate based Standard and Customized Patient Specific Grafts by 3D Printing via Digital Light Processing Technique and Extrusion-based Equipment”, aims to transform the way bone grafts are manufactured and delivered in India. By leveraging indigenously developed bioceramic materials and cutting-edge additive manufacturing technologies, Ceramat seeks to reduce dependence on imported medical products and establish India as a hub for personalised healthcare solutions.

Ceramat’s Vision for Indigenous Innovation

Ceramat makes special powders and ceramics (like hydroxyapatite and calcium phosphate) that are very similar to the minerals in real human bone. These materials are shaped into grafts — pieces doctors use to repair or replace damaged bone.

Instead of making generic grafts, Ceramat uses advanced 3D printers to create patient‑specific grafts that match the exact shape of someone’s bone. This means every graft can be custom‑fit, improving recovery and reducing complications.

Think of it like this: if you break a part of your bone, instead of using a “one‑size‑fits‑all” piece, doctors can now give you a graft that’s tailor‑made for your body.

Ceramat Private Limited was founded with a mission to develop and commercialise

 bio-ceramics and advanced ceramics that serve as high-quality import substitutes. Its portfolio includes biomaterials such as:

• Hydroxyapatite
• Beta-tricalcium phosphate
• Biphasic calcium phosphate
• Bioactive glass

These materials find applications across orthopaedics, oral care, cosmetics, and industrial sectors.

The Technology Behind Patient-Specific Grafts

The initiative integrates Digital Light Processing (DLP)-based 3D printing and extrusion-based 3D printing with indigenous calcium phosphate biomaterials. These complementary approaches will allow Ceramat to manufacture both standard and customised grafts, offering:

• Complex geometries that mimic natural bone structures
• Patient-specific designs for personalised medical care
• Enhanced flexibility in clinical applications

Aligning with Aatmanirbhar Bharat

The project is closely aligned with the government’s vision of Aatmanirbhar Bharat, focusing on advanced manufacturing and indigenous medical technology development. By reducing reliance on imported bioceramic and orthobiological products, the initiative will:

• Strengthen domestic supply chains
• Create opportunities for global market expansion
• Position India as a technology developer rather than just a consumer

Why It’s Globally Relevant

Ceramat’s work matters far beyond India. By producing advanced bone grafts locally, it reduces the country’s dependence on costly imports and makes treatment more affordable. At the same time, mastering patient‑specific 3D printing puts India in direct competition with global medical technology leaders.

This innovation reflects a broader shift in healthcare toward personalized solutions, where treatments are tailored to each individual rather than relying on generic options. Because the same techniques can be applied to dental implants, facial reconstruction, and even cosmetic surgery, Ceramat’s approach has the potential to influence multiple industries worldwide. In essence, India is positioning itself not just as a healthcare consumer, but as a healthcare innovator with solutions that can serve patients across the globe.

Conclusion

The collaboration between TDB-DST and Ceramat Private Limited marks a pivotal moment in India’s healthcare innovation journey. By combining indigenous biomaterials with state-of-the-art 3D printing, the project not only addresses critical medical needs but also reinforces India’s commitment to self-reliance, innovation, and global competitiveness in medical manufacturing.

Material	Application
Hydroxyapatite	Bone grafts, implants
Beta-tricalcium phosphate	Orthopaedics, oral care

IIM Calcutta Innovation Park Partners with Army Institute of Management Kolkata to Build Next-Generation Startup Ecosystem in West Bengal

A strategic partnership combining academic excellence with incubation expertise, enabling startup creation, industry collaboration and innovation-led entrepreneurship through a proposed DST NIDHI Maker Bhavan.

IIM Calcutta Innovation Park (IIMCIP), one of India's leading startup incubators, has announced a strategic partnership with Army Institute of Management Kolkata (AIMK) formalised through a Memorandum of Understanding (MoU). Under the partnership, AIMK and IIM Calcutta Innovation Park will jointly promote entrepreneurship and the startup ecosystem in West Bengal by creating a world-class incubation support system while providing access to academic excellence and industry collaborations for startups and aspiring entrepreneurs in the region.

The partnership will entail outreach and capacity-building initiatives that foster an entrepreneurial mindset and enterprise creation. AIMK will allocate approximately 3,500 to 5,000 square feet within its campus for establishing the DST NIDHI Maker Bhavan that will include state-of-the-art fabrication laboratory, startup co-working spaces and meeting rooms under NIDHI PRAYAS 2.0 Scheme, post approval from the DST.

Beyond creating physical infrastructure, the partnership will focus on building a long-term innovation ecosystem through co-incubation programmes, mentor clinics, long-term cohorts for joint ecosystem development, startup scouting, innovation challenges, industry interactions, collaborative research and development (R&D) and faculty development initiatives. 

AIMK will identify promising startups and innovators, and facilitate stakeholder engagement with academic institutions, industry bodies, government agencies and investors. At the same time, IIMCIP will extend technical and strategic programme support, including access to incubation, expert mentorship, market connect networks, funding opportunities where applicable and a dedicated team to support the management of the proposed satellite centre.

Speaking on the partnership, Ajay Jain, Chairman, Board of Directors, IIM Calcutta Innovation Park, said, "India's next generation of entrepreneurs will emerge from stronger collaboration between academia, industry and incubation ecosystems and this is an opportune partnership between two of West Bengal’s leading organizations, IIMCIP and AIMK. By combining AIMK's academic strengths with IIMCIP's incubation expertise, we aim to build a vibrant startup ecosystem that empowers young innovators and strengthens West Bengal's entrepreneurial landscape contributing meaningfully to India's innovation-led growth story."

Dr. Samip Baruah, Principal & Officiating Director, Army Institute of Management Kolkata, said, "Entrepreneurship is becoming an essential pillar of management education. Through our partnership with IIM Calcutta Innovation Park, we will provide our students and aspiring entrepreneurs with direct access to one of India's leading startup ecosystems. This collaboration will create meaningful opportunities for experiential learning and enterprise creation, preparing them not just as managers of businesses, but as creators of businesses."

Over the years, IIM Calcutta Innovation Park has emerged as one of India's most impactful startup incubation ecosystems, having supported more than 2000 startups, facilitated over ₹2000 crore in follow-on funding, helped create more than 30000 jobs, and built a strong network of entrepreneurs, investors, mentors, corporate partners and government institutions.

This partnership reflects the shared vision of both institutions to promote knowledge exchange, nurture innovation-driven leadership, strengthen industry-academia collaboration to contribute tangibly towards the growth of a robust startup ecosystem in West Bengal while supporting India's broader innovation and entrepreneurship agenda.

About IIM Calcutta Innovation Park

The IIM Calcutta Innovation Park (IIMCIP) is a not-for-profit (Section 8) company established under the aegis of the Indian Institute of Management Calcutta to promote entrepreneurship and innovation in India. Recognised by the Department of Science & Technology, Government of India, IIMCIP’s mission is to nurture innovative, socially impactful entrepreneurs who can drive inclusive growth. Its core offerings span structured mentoring, capacity building, seed funding and access to markets and investors. To date, IIMCIP has supported over 2,000 startups and seed-funded 152 ventures, which have collectively raised more than Rs 2,000 crore and built a cumulative portfolio valuation of nearly Rs 8,000 crore. IIMCIP also works closely with government bodies, corporates and academia to strengthen India’s innovation ecosystem, foster high-impact collaborations and promote women’s entrepreneurship, with a special focus on underserved regions of the country.

About Army Institute of Management Kolkata

For nearly three decades, Army Institute of Management, Kolkata (AIMK) has been shaping young minds into confident, competent and responsible management professionals. Established in 1997 by the Army Welfare Education Society (AWES), New Delhi, AIMK carries forward a distinctive legacy where academic excellence meets the enduring values of discipline, integrity and commitment.

Located in New Town, Kolkata, the Institute offers an intellectually stimulating environment that encourages students to learn, question, innovate and lead. Its AICTE-approved MBA programme and BBA programme, affiliated to MAKAUT, West Bengal, integrates strong academic foundations with experiential learning, industry interaction, case-based pedagogy and professional exposure.

What truly distinguishes AIMK is its unique Army ethos, reflected not only in its institutional culture but also in its approach to developing character, leadership and a sense of responsibility. With students drawn from diverse backgrounds, the campus fosters collaboration, inclusivity and a broad understanding of the contemporary business world.

As AIMK continues its journey of excellence, the Institute remains committed to creating future-ready leaders who combine managerial competence with character, purpose and social responsibility, leaders prepared not merely to succeed in the world of business, but to make a meaningful difference to society.

HerSpace Manufacturing Secures $50M from Gray Matters Capital to Fuel Growth

• The funding raised would be used to expand its offerings in key manufacturing hubs across the states of Karnataka, Tamil Nadu and Andhra Pradesh

HerSpace Manufacturing Pvt Ltd, a leader in employee accommodations for industrial workers, announced today that it has raised a further $40 million from its existing investor, Gray Matters Capital (GMC) which had invested $10 million in 2025.

The $50 million will be invested over 30 months through a mix of debt, quasi-equity and equity.

The capital commitment reflects strong investor confidence in HerSpace’s leading accommodation solution, which is highly effective at improving employee retention, productivity, and satisfaction, in addition to drastically lowering the transport costs and the carbon footprint of employing companies.

The new capital is expected to support expansion in key manufacturing markets, including Greater Bengaluru, Hosur, Chennai, and the state of Andhra Pradesh, in addition to investment in people and systems needed to support HerSpace’s growth.

Bob Pattillo, Founder of HerSpace Manufacturing Pvt Ltd. explains, “HerSpace has moved quickly from an idea to a working business with strong market demand. Our goal now is to use the capital, experience and lessons from our first projects to build a model that can scale quickly while maintaining the quality and affordability that make HerSpace valuable to workers and employers.”

“One company placed 200 women employees with us, who then excitedly told all their colleagues, who then asked to be relocated to HerSpace. The company decided to take the entire remaining capacity of 280 beds.”, Pattillo goes on to add.

Manufacturing Sector Growth linked to Worker Housing

A 2024 NITI Aayog report, “S.A.F.E. Accommodation – Worker Housing for Manufacturing Growth,” highlighted the critical role of worker housing in supporting India’s manufacturing growth. The report stated:

Inadequate housing near industrial hubs is a major bottleneck. Poor housing conditions lead to high attrition rates, reduced productivity, and workforce instability. Moreover, the lack of suitable accommodations restricts the migration of workers, particularly women, thereby limiting the sector’s growth potential.

Currently, paying guest (PG) accommodations are the primary alternative, with significant concerns around quality, safety, compliance and safe access for women. This underscores the need for leased worker housing like that provided by HerSpace to establish India’s dominance in manufacturing.

Mr. Simha Nagaraj, CEO, HerSpace Manufacturing

“This funding milestone marks a defining moment for HerSpace and reflects the immense market opportunity ahead, as well as the dedication of our talented team including our Founders Mr. Bob Pattillo and Mr. Puneeth Thimmegowda.” said Mr. Simha Nagaraj, CEO of HerSpace Manufacturing Pvt Ltd.

The company currently has over 950 modular beds delivered and operating, with more than 10,000 beds in the pipeline.

About HerSpace Manufacturing Pvt Ltd

Founded in 2023, HerSpace is the premier provider of leased affordable workforce accommodations for industrial workers in India. Headquartered in Bengaluru, Karnataka, HerSpace funds, designs, builds, and operates under one roof. Statutory compliance is built in at each stage.

For more information, visit: https://herspace.co/

About Gray Matters Capital

Gray Matters Capital (GMC) is a leading global impact investor in companies with exceptional social impact and strong financial returns. Through 78 enterprises, GMC is projecting to serve 100 million women through entrepreneurial schools, startup impact ventures, health, and housing.

For more information, visit: https://graymatterscap.com/

UPES Runway Invests ₹25 Lakh in Reagvis Labs to Advance AI‑Powered Digital Trust

Dr. Sachin Chaudhary, Co-founder, Reagvis Labs

UPES Runway, the startup incubator at UPES, announced an investment of ₹25 lakh through equity participation in Reagvis Labs, a deep-tech startup developing indigenous artificial intelligence solutions for digital trust, including deepfake detection, document forgery detection, digital identity verification and digital content authentication. The investment is part of UPES Runway’s initiative to identify and support promising AI-native and AI-driven ventures through capital, mentorship and access to the wider startup and investor ecosystem.

Founded in 2025 by Dr. Sachin Chaudhary and Dr. Praful Hambarde, Reagvis Labs grew out of an academic collaboration between the two researchers during their PhD journey. Working in artificial intelligence and computer vision, the founders witnessed the emerging challenges around the misuse of generative AI to create deepfakes, forged documents, synthetic identities and misleading digital content. Reagvis Labs was created to address challenges such as deepfakes, forged documents and synthetic identities, with capabilities spanning media manipulation detection, identity and content verification, and KYC across image, video and audio, by building AI-led technologies that strengthen trust in the digital ecosystem.

Rahul Nainwal, CEO, Runway Incubator and Dean, School of Business, UPES, said, “The next phase of AI innovation will not only be about what artificial intelligence can create, but also about whether we can trust what it creates. Reagvis Labs is working on a problem that will become increasingly important as synthetic content becomes more sophisticated and widespread. Through The Pitch, our objective is to identify such AI-led ventures with strong technology depth and meaningful real-world applications and give founders the capital and ecosystem support they need to build and scale.”

Dr. Sachin Chaudhary, Co-founder, Reagvis Labs, said, “Reagvis began with our belief that trust must become a fundamental layer of the AI-powered digital world. As generative technologies grow more powerful, the ability to distinguish authentic content from manipulated or synthetic content will become increasingly important for businesses, governments and individuals. The investment and support from UPES Runway will help us strengthen our technology, accelerate development and take our digital-trust solutions to a wider set of real-world applications.”

Through The Pitch 3.0, UPES Runway plans to support 10 innovators this year, with an investment of around ₹25 lakh per startup, and the potential for higher investment in exceptional AI-led ventures, subject to evaluation and approval. Pitch 3.0 recently concluded its Delhi leg, which attracted more than 20 applications and brought seven shortlisted startups before investors, mentors and UPES leaders. The ventures represented a wide range of sectors, including AI image recognition, fintech, edtech, disaster management, fleet technology, quantum computing and deep tech, reflecting the breadth of AI-led innovation emerging from India’s startup ecosystem. Startups - Arthik AI, StoreLink and Memintel were shortlisted in the Delhi round. The next leg of The Pitch is being planned in Bengaluru, as UPES Runway continues to identify and invest in niche AI businesses across different markets.

Through the Runway Incubator, UPES is also advancing its larger vision as an AI-first university, connecting academic and technological capabilities with entrepreneurship, funding and market opportunities. The initiative seeks to enable founders to take AI-led solutions beyond the laboratory or prototype stage and build ventures capable of addressing emerging industry and societal challenges.

Launched in 2021, Runway has grown into a platform for entrepreneurial development at UPES. In about five years, more than 200 startups have been incubated through Runway in association with DST-TIBI, MeitY, Shell E4, MaXcel Accelerator and Global University Systems.

For more information, please visit: runwayincubator.com

About UPES:

Established through the UPES Act, 2003, of the State Legislature of Uttarakhand, UPES is a top-ranked, UGC-recognised, private university. As per the National Institutional Ranking Framework (NIRF) 2025, the Ministry of Education, Government of India, UPES has been ranked 45 among universities, with a rank of 18 in Law, 36 in Management, and a rank of 43 in Engineering. As per the Times Higher Education (THE) World University Rankings 2026, UPES now stands in the 501-600 band globally and 5th in India, improving from 7th in 2025. Notably, in Research Quality, UPES jumped 57 positions in just one year to be ranked 299 globally. In addition to this, the university has been ranked the No.1 private university in academic reputation in India by the QS World University Rankings 2026. It is among the top 2% of universities in the world.

UPES has received 5 stars on Employability (placements) by the globally acclaimed QS Rating. 50+ faculty members from UPES feature among the world’s top 2% researchers as per the Stanford University list.

UPES offers graduate and postgraduate programs through its seven schools: School of Advanced Engineering, School of Computer Science, School of Design, School of Law, School of Business, School of Health Sciences & Technology, and School of Liberal Studies and Humanities. The UPES family includes 20000+ students, 1,500+ faculty and staff members, and a thriving community of 40000+ alumni that work across sectors in marquee brands like EY, KPMG, Bain and Co., McKinsey & Company, Capgemini, Google, Microsoft, Oracle, Nestle, ITC, Adani Power, ONGC, GMR, TCS, Wipro, Infosys, Amazon, Flipkart, Accenture, Deloitte and more.

Pixxel’s $100M Boost Fuels Hyperspectral Satellite Revolution

Image ~ Pixxel.com

Pixxel, the Google-backed Indian space-tech startup, has raised $100 million in a Series C round led by Temasek and Seraphim, marking India’s largest-ever private space-tech funding. This brings Pixxel’s total capital raised to $195 million and values the company between $400–500 million.

The $100M raise stands as India’s largest-ever space-tech funding round, underscoring Pixxel’s transition into its next growth phase as it expands across the entire space-tech value chain.

The fundraise arrives amid strong tailwinds for Pixxel. In just two years, the company has deployed six Firefly satellites to build the world’s highest-resolution commercial hyperspectral constellation, launched its Aurora Earth intelligence platform, and secured contracts with NASA and the NRO. It has also triumphed in multiple iDEX challenges from India’s Ministry of Defence, unveiled an orbital data-centre demonstration satellite, and been chosen to spearhead India’s first public-private Earth observation constellation of 12 satellites under IN-SPACe.

Key Funding Details

• Round size: $100 million (Series C)
• Lead investors: Temasek (Singapore) and Seraphim (UK)
• Other participants: Radical Ventures, growX Ventures, 360 ONE Asset, IMM Investment
• Total funding to date: $195 million
• Valuation: Estimated between $400–500 million

Strategic Expansion Plans

• Satellite Fleet Growth: Expansion of the Firefly hyperspectral constellation, upcoming Honeybee satellites, and sub-metre resolution satellites.
• Aurora Platform: Scaling its Earth intelligence software, which integrates satellite data with AI for actionable insights.
• Planetary Infrastructure Vision: Combining sensors, satellites, and AI to create a “health monitor for the planet.”

Why This Matters

• Largest space-tech fundraise in India: Positions Pixxel as the most well-funded Indian space startup, surpassing peers like Skyroot Aerospace.
• Global relevance: Hyperspectral imaging provides data beyond conventional satellite imagery, useful for climate monitoring, agriculture, defence, and resource management.
• Sovereign capability: Nations can leverage Pixxel’s systems for independent space missions and intelligence.

Comparison with Peers

Pixxel	Skyroot Aerospace
$195M total funding	$160M total funding
Focus: Hyperspectral satellites + AI Earth intelligence	Focus: Launch vehicles (rockets)
Valuation: $400–500M	Valuation: $1.1B (unicorn)
Backers: Temasek, Seraphim, Google	Backers: GIC, Lenskart’s Peyush Bansal

Challenges Ahead 

• Capital intensity: Satellite manufacturing and launches require sustained funding.
• Global competition: Rivals like Planet Labs and Satellogic already dominate hyperspectral imaging.
• Regulatory hurdles: India’s evolving private space policy could affect timelines and sovereign contracts.
• Execution risk: Scaling Aurora software and satellite fleets simultaneously is complex.

GVFL Invests ₹30M in Edgeverse to Advance Edge AI Perception Tech for India’s Two‑Wheeler Mobility

Founders of Edgeverse India Pvt. Ltd

Deep-tech startup to strengthen its AI-powered perception stack for two-wheelers and expand across mobility, industrial automation and defence

GVFL has invested ₹30 million in Edgeverse India Pvt. Ltd., a deep-tech startup developing edge AI-based perception technology for mobility and other real-world applications.

The investment will support Edgeverse's next phase of growth, including the development of India-specific road intelligence, camera and radar technology, and the commercialisation of its AI-powered perception solutions.

Founded in 2023 by Arindam Ghosh, Subrata Debnath and Navaneeth A, Edgeverse is building a hardware-agnostic perception stack that combines edge AI with sensors such as cameras and radar. The technology is designed to help original equipment manufacturers (OEMs) and Tier-I suppliers deploy advanced safety and perception capabilities across vehicles.

Edgeverse's flagship offering, Perceiva ARAS, is an Advanced Rider Assistance System software stack designed for camera- and radar-based applications. The company is also developing an integrated ARAS solution comprising processor hardware, sensors and proprietary perception software.

India being the world's largest two-wheeler market and a leading producer presents a significant opportunity for advanced safety and rider-assistance technologies that can be deployed without substantially increasing the cost, size or power consumption of vehicles. With an estimated 375–400 million two-wheelers already on Indian roads, the market offers considerable scope for companies developing technologies tailored to local traffic and road conditions.

According to SIAM, India recorded 21.7 million domestic two-wheeler sales in FY2025-26, the highest ever for the segment and a 10.7% increase over the previous year. The country also recorded 5.18 million two-wheeler exports during the year, underlining its position as both a major consumption market and a global manufacturing and export hub.

Perceiva ARAS app on motorcycle digital cluster, Edgeverse India Pvt. Ltd

ARAS Collision Zones-1, Edgeverse India Pvt. Ltd

“Edgeverse is building a differentiated technology platform at the intersection of edge AI, perception and mobility safety. Its capabilities across both software and hardware, combined with a focus on solving for Indian road conditions, present an interesting opportunity in the evolving mobility technology ecosystem,” said Mihir Joshi, Managing Director, GVFL.

Edgeverse has previously received ₹18.5 million in seed funding from ARTPARK and was selected as one of the winners of the NASSCOM Mobility Innovation Challenge 2025. With the latest investment, Edgeverse is focused on translating its technology development and early industry engagements into scalable commercial deployments. The company aims to emerge as a trusted perception technology partner for OEMs and are in advance talks with the large global tier-I suppliers building India-focused camera, radar and edge AI solutions for the next generation of intelligent mobility.

“With GVFL's support, we are looking to accelerate product development and move towards wider commercial deployment,” said Arindam Ghosh, Co-Founder & CEO, Edgeverse. “Our vision is to make life-saving edge intelligence accessible and build technology in India that can compete globally.”

Edgeverse began with the objective of making two-wheelers safer through real-time sensing and intelligent alerts. The company has since developed its own processor board and camera module and conducted on-road testing for front- and rear-collision detection.

The startup has demonstrated its technology to potential customers, including Ather, and is engaging with players across the mobility and technology ecosystem such as Cavli and Qualcomm, as it works towards wider adoption of its perception stack. The company has also developed Perceiva DMS, a camera-based Driver Monitoring System for commercial vehicles, along with a radar perception stack.

Over the next six to twelve months, Edgeverse plans to build an Indian road dataset covering 100,000 kilometres, develop a 2MP camera and a 77 GHz radar module, and secure multiple commercial agreements for its ARAS and DMS solutions.

The company will also strengthen its team and explore applications across industrial automation and defence.

CarbonStrong Raises ₹12.5 Cr. in Funding Led By IAN Angel Fund to Scale Low-Carbon Cement Innovation

Left to Right — Harsh Jain (Co-founder & CEO) and Vikramaditya Singh (Co-founder & COO); CarbonStrong

IAN Angel Fund, the evergreen fund of IAN Group, has led a ₹12.5 crore investment in CarbonStrong, a Bengaluru-based climate-tech startup developing low-carbon cement substitutes from industrial waste, with participation from Rainmatter, Social Alpha, Spectrum Impact and Full Circle Ventures. The seed round will support CarbonStrong in setting up its first production facility, expanding its team, undertaking further product development and testing, and moving from customer trials to commercial-scale production. The company aims to build a capacity of up to 100,000 tonnes a year over the next 2 years.

Founded in 2022 by Harsh Jain (Co-founder & CEO) and Vikramaditya Singh (Co-founder & COO), they have developed a portfolio of materials that can replace up to 50% of the cement used in concrete. The company says its solution is around 30% cheaper than cement and can also improve the durability of concrete.

Importantly for concrete manufacturers, CarbonStrong’s product can be used within existing plants and processes, meaning customers do not need to make major investments in new equipment to adopt it.

Cement is essential to modern construction, but it is also one of the biggest sources of carbon emissions, responsible for over 8% of global CO2 emissions. At the same time, hundreds of millions of tons of industrial wastes such as fly ash and slag are generated every year.

Some of these industrial wastes are already used to substitute cement in concrete, but existing solutions have limited capacity to replace cement while maintaining required performance.

CarbonStrong was founded with the aim of addressing this gap. The company takes industrial wastes and processes them into building materials that can replace a larger share of cement without requiring concrete manufacturers to change the way they operate.

Harsh Jain, Co-founder and CEO, CarbonStrong, said, “India will build most of its future in the next 25-30 years. We want every ton of that concrete to be stronger, cost-efficient, and lower in carbon footprint. This investment helps us take our now-proven technology to industrial scale.”

The company has already conducted several customer trials and paid pilots. Its materials have been used in demonstration projects across Bengaluru, Hyderabad, and Chennai.

The company is now looking to convert these early trials into long-term supply relationships with ready-mix concrete companies, builders and contractors. It is also targeting precast concrete and paver block manufacturers.

The fresh capital will help CarbonStrong build its production capabilities and expand its team as it moves from pilot projects towards commercial production.

CarbonStrong is also working to expand the range of industrial wastes that can be turned into useful cement substitutes. Its future plans include materials made from steel slag, copper slag, mine-tailings and other industrial byproducts. The company was also recognised by HCL ClimaForce in 2026 and by Avaana-Startup India-NITI Aayog AIM Grand Challenge for ClimateTech Innovation in 2025.

The company estimates that India's market for cement substitutes could reach around INR 25,000 crore by 2030.

The company's immediate focus is on India, with plans to eventually expand into other markets across the Global South. Its long-term ambition is to produce 10 million tonnes a year by 2035.

About CarbonStrong

CarbonStrong produces low carbon binders by upcycling industrial wastes to replace up to 50% cement in concrete. The binder is made by processing industrial wastes from coal, steel and other sectors into high-performance cementitious materials. It cuts cost and carbon footprint and maintains performance of concrete with no change to plants or process.

About IAN Angel Fund

IAN Angel Fund, the evergreen fund of IAN Group, is a SEBI-registered Category I AIF and part of India's leading early-stage investment platform, which pioneered angel investing in the country. Today, IAN invests through its Angel Fund and venture capital funds, backed by a network of approximately 500 investors, including iconic entrepreneurs and industry leaders from India and overseas. The platform enables founders to raise capital from ₹50 lakh to ₹50 crore as they scale, while offering investors a diversified early-stage portfolio across both emerging and growth-stage startups.

About IAN Group

IAN Group is India's largest horizontal platform for early-stage investments, comprising the IAN Angel Fund, BioAngels, and a series of SEBI-registered venture capital funds, including the US$100 million IAN Alpha Fund. IAN supports entrepreneurs with capital, mentoring by experienced founders, and access to global markets. Forbes has recognised IAN as one of the most iconic business and economic developments of Independent India over the last 75 years, alongside institutions such as LIC, NASSCOM, the RBI, and Naukri.com.

IDFC FIRST Bank and IIM Calcutta Innovation Park Launch ₹2 Crore National Incubation Program to Accelerate Sustainable and Circular Economy Startups

Supporting 16 high-potential startups driving sustainability, circularity, cleantech, waste management, and green manufacturing across India

IDFC FIRST Bank, has partnered with IIM Calcutta Innovation Park (IIMCIP) under IGNITE, a startup incubation program of FIRST IMPACT, to launch a Pan-India Incubation Program for Sustainable Business Solutions, aimed at nurturing and scaling innovative startups addressing critical environmental and sustainability challenges. The initiative will provide a total support of ₹2 crore, including a startup grant corpus of ₹1.36 crore, to help emerging enterprises strengthen their business models, expand market reach, and create measurable environmental and social impact.

The program will focus on startups working in areas such as green manufacturing, recycling and upcycling of waste, cleantech solutions, renewable energy, water and wastewater management, environmental technologies, and sustainable use of local and indigenous resources.

Through a structured incubation journey, 16 startups from across the country will be selected and provided with business diagnostics, mentoring, bootcamps, expert guidance, networking opportunities, and access to ecosystem stakeholders. Following a competitive evaluation process, the top-performing startups will receive performance-linked grant support to accelerate their growth and scale.

The initiative seeks to address some of India's most pressing sustainability challenges by supporting entrepreneurs developing innovative solutions that promote resource efficiency, waste reduction, climate resilience, and sustainable livelihoods.

Expected Outcomes

• Facilitate scale-up of 16 environmentally sustainable products or services.
• Enable diversion of waste from landfills through recycling, upcycling, composting, and circular economy solutions.
• Improve business capabilities and operational readiness of participating enterprises.
• Contribute to livelihood creation through employment growth within incubated startups.
• Enable revenue growth and market expansion for participating enterprises.
• Strengthen India's sustainability ecosystem through innovation-led entrepreneurship.

Saptarshi Bapari, Head - Investor Relations and ESG - IDFC First Bank said, "At IDFC FIRST Bank, we believe that entrepreneurs can play an important role in addressing some of our country's most pressing challenges. Through IGNITE, we have been supporting impact-driven startups over the last two years. We are pleased to partner with IIM Calcutta Innovation Park as we expand the program's reach to entrepreneurs working in areas such as waste management, circular economy, resource efficiency, and clean technology. We look forward to supporting the next generation of founders as they build and grow their businesses."

Ajay Jain, Chairman, IIM Calcutta Innovation Park Board, said, "IIM Calcutta Innovation Park has always stood steadfast with entrepreneurs and go-getters who leverage innovation as a means to address real world challenges. We are enthused to partner with IDFC FIRST Bank, in enabling impact-first startups with innovative solutions in sustainability, circular economy and resource efficiency. By providing such founders with the right mentorship, market access and ecosystem support, we hope to accelerate innovations and create commercially sustainable enterprises that contribute to a sustainable future for India."

About IIM Calcutta Innovation Park

The IIM Calcutta Innovation Park (IIMCIP) is a not-for-profit (Section 8) company established under the aegis of the Indian Institute of Management Calcutta to promote entrepreneurship and innovation in India. Recognised by the Department of Science & Technology, Government of India, IIMCIP's mission is to nurture innovative, socially impactful entrepreneurs who can drive inclusive growth.

Its core offerings span structured mentoring, capacity building, seed funding and access to markets and investors. To date, IIMCIP has supported over 2,000 startups and seed-funded 136 ventures, which have collectively raised more than ₹2,000 crore and built a cumulative portfolio valuation of nearly ₹8,000 crore.

IIMCIP also works closely with government bodies, corporates and academia to strengthen India's innovation ecosystem, foster high-impact collaborations and promote women's entrepreneurship, with a special focus on underserved regions of the country.

About the Bank

1. Vision: To build a world-class Bank in India, founded with principles of Ethical, Digital, and Social Good Banking.


2. Scale: IDFC FIRST Bank is one of India's fast-growing private banks, building its UI, UX, and tech stack like a fintech. As of June 30, 2026, the Bank serves 39 million customers, with a customer business at Rs. 6,04,776 crore ($65.9b) comprising customer deposits of Rs. 2,99,405 crore ($32.6b) and loans & advances of Rs.3,05,370 crore ($33.3b). Customer deposits grew 16.6% YOY and loans 20.6% YOY. We reach over 60,000 cities, towns, and villages, operate through 1,155 branches.


3. Scope: We are a universal Bank offering complete range of services, including Retail, MSME, Rural, Startups, Corporate Banking, Cash Management, Credit Cards, Wealth Management, Deposits, Government Banking, Working Capital, Trade Finance, and Treasury solutions.


4. Ethical Banking: We are committed to doing right even when customers are not watching. We have simplified descriptions, calculations, and legal jargon to avoid confusing customers.


5. Digital Banking: The Bank's modern technology stack delivers high-quality services across all channels like mobile, branch, internet banking, call centers and relationship managers. Built on cloud-native, API-led, microservices architecture, supported with data, analytics, AI, and fine aesthetics, we strive to deliver fintech-grade experiences on banking platform.


6. Social Good: We work for society. We have impacted over 40 million lives including 3.6 million women entrepreneurs. We have financed over 7.5 million lifestyle improvement loans (for laptops, washing machines, refrigerators etc.), 2.5 lakh electric 2W and 3W vehicles, 2.7 lakh water, sanitation, and hygiene loans, 2 million livelihood (cattle) loans, and 300,000+ SMEs.


7. Customer Friendly Banking: We make banking easy by having a customer first approach. We have waived fees on 36 essential savings account services which are commonly charged in the market, the first and only bank in India to do so. We create "pull" products that customers actively seek out.


8. Governance: We adhere to regulatory guidelines in letter and spirit and actively work with regulators to make things better. We take pride in maintaining highest levels of corporate governance.


9. Shareholders: We are building a well-diversified universal banking portfolio designed to deliver consistent ROE of 16%+.


10. Employees: IDFC FIRST Bank is designed to be a happy place to work, with cutting-edge roles, meaningful growth opportunities, and a culture of meritocracy. Compensation is healthy, efforts are recognized, and employees experience the pride and excitement of creating a world-class Bank in India.

About IDFC FIRST Bank CSR

IDFC FIRST Bank's CSR initiatives focus on creating sustainable and inclusive social impact through strategic investments in education, healthcare, livelihoods, entrepreneurship, environmental sustainability, and community development. Through partnerships with credible institutions and ecosystem enablers, the Bank aims to support innovative solutions that address critical developmental and environmental challenges.