Companies from the startup ecosystem continue to show strong performance as listed firms, YourStory brings you today’s headlines with the latest developments across sectors.
Latest News
Eternal Q2 net profit rises 92% in FY27, revenue up 78%
Eternal, the parent company of Zomato and Blinkit, reported a 92.3% year-on-year (YoY) rise in net profit in the second quarter of FY27, while revenue grew 78% YoY. However, the company missed analysts’ estimates, which had projected a net profit of Rs 250 crore. Eternal’s net profit for the second quarter of FY27 stood at Rs 125 crore, compared with Rs 65 crore in the same period a year ago. Revenue rose to Rs 24,138 crore from Rs 13,590 crore in the corresponding quarter of the previous fiscal year.
Jio Platforms IPO oversubscribed in less than two hours led by QIBs
Photo: YS Design
Jio Platforms’ initial public offering (IPO) was oversubscribed in the qualified institutional buyers (QIB) category within two hours of opening on Wednesday, signalling strong demand from institutional investors.
‘You are all born artists’: Prakash Belawadi on surviving the AI age
At TechSparks 2026, actor and theatre artist Prakash Belawadi reflected on AI’s impact on creativity and jobs, urging people to reconnect with their inner artist and find purpose beyond what technology can replace.
Funding news
Vectorial raises $3 million to scale AI-powered consumer research
Vectorial, an AI startup developing human behaviour simulation technology, has raised $3 million in a funding round led by SenseAI Ventures. The round also saw participation from Smilegate, Berkeley SkyDeck, Berkeley AI Research Lab, Dent Capital, Motus Ventures, SUM Ventures and strategic investors. The company has modelled more than 2.5 million people globally, including 500,000 in India, and conducted over 30,000 simulations. Its SAPIENS model uses demographic, psychological and behavioural data to predict how consumers may respond to digital products and experiences. Vectorial says its model is 30% more accurate than general-purpose large language models in predicting human behaviour. Its customers include boAt, GoodRx, Suki AI, Everkind and Concrete Software.
Onto raises $1 million to build AI-led travel platform
Bengaluru-based travel platform Onto has launched its services after raising $1 million in pre-seed funding. The round was led by Stargazer Fund and co-led by Singapore-based White Venture Capital. Founded by former Groww professionals Jagdeep Singh and Shubham Goyal, Onto aims to support travellers even after they complete a booking. Its first feature, Price Drop Refund, monitors hotel prices and automatically refunds eligible customers when the same hotel, room and dates become cheaper. The feature also covers eligible bookings made on other platforms, with refunds sent to the original payment method and updates shared through WhatsApp and app notifications. Onto said its app recorded more than 2,000 downloads before launch. The company will use the funds to expand operations, strengthen technology and develop AI-led travel products.
Enrission India Capital invests in freight-tech platform Raaho
Japan-based Enrission India Capital has invested in Raaho, a Gurugram-based digital freight platform, although the round size was not disclosed. Founded in 2017, Raaho connects logistics companies with truck owners through digital matching, verification and settlement, replacing parts of the traditional offline broker model. The company reported year-on-year growth of about 50%, with trip volumes rising around 75%, and recorded its first full year of profitability in FY26. It currently operates in 20 cities. The investment will support expansion to 25 cities, entry into the open-truck category and deeper use of artificial intelligence in load matching, pricing, document processing and customer interactions. Raaho combines technology with on-ground operations to serve India’s fragmented trucking market, where many operators own fewer than 10 trucks.
GrowthCap Ventures backs autonomous aircraft startup LogiXair
GrowthCap Ventures has invested in Hyderabad-based deep-tech company LogiXair, which is developing autonomous hybrid-electric vertical take-off and landing (VTOL) aircraft for cargo logistics. Founded by Bhanu Teja Chidura and Pulla Kapil, the startup is targeting short-haul cargo movement of up to 600 km between metros, industrial hubs and smaller cities without conventional runways. Its L560 aircraft is designed to carry up to 300 kg. LogiXair says it has validated a hybrid-electric powertrain, flight-tested sub-scale prototypes and developed six intellectual-property assets at Technology Readiness Level 6. The company also works with DRDO and aerospace and defence original equipment manufacturers. The investment will fund engineering development, technology validation and commercialisation, while the company explores partnerships across logistics, industrial and strategic sectors and prepares for potential international markets.
Other news
Vultr to deploy 20 MW AMD AI supercluster in Chennai
Cloud infrastructure provider Vultr plans to deploy AMD Instinct MI355X GPUs in a new 20-megawatt supercluster in Chennai. The company said the facility will be India’s largest AMD Instinct deployment and one of its two largest AI infrastructure deployments globally. Each GPU offers 288GB of HBM3E memory and 8TB per second of memory bandwidth. The supercluster is intended to support AI labs, foundation-model developers, startups, enterprises and academic institutions with workloads including model training, fine-tuning and inference. Vultr said locally available computing capacity can help organisations meet data-residency, sovereignty and latency requirements. The deployment will use AMD’s ROCm open software ecosystem, giving developers access to AI frameworks, libraries and models. Vultr also plans further global capacity expansion in 2027 using next-generation AMD infrastructure.
Girikon.AI develops Koyal voice AI model
Technology company Girikon.AI has developed Koyal, a voice AI model designed to support more natural and adaptable voice interactions across languages and applications. The company said the model focuses on aspects such as pronunciation, tone, language nuances and conversational context, which can influence how people experience voice-based technology. The development comes as enterprises explore conversational AI for customer service, sales, support and other business functions. Girikon.AI said voice interfaces that accommodate regional language preferences and communication styles could make digital services easier to access in India’s linguistically diverse market.
Agrograde deploys AI-powered arecanut sorting system in Mangaluru
Physical AI startup Agrograde has deployed what it describes as India’s first AI-powered optical sorting system developed specifically for arecanut. The first commercial installation is at Vikas Traders in Mangaluru, Karnataka. The system can process about one tonne an hour, enabling the facility to handle close to eight tonnes daily. Using computer vision, it captures multiple images of each nut, identifies visible defects and separates rejected material from accepted produce. Agrograde said the model’s sorting accuracy improved from around 75% at commissioning to approximately 89% as it incorporated commercial operating data. The system also generates quality summaries covering size distribution, defects and packed quantities.
OpenAI and Karmayogi Bharat sign MoU
Karmayogi Bharat and OpenAI have signed a memorandum of understanding to strengthen AI capacity development across India’s civil services. Under the collaboration, approved OpenAI Academy learning resources will be made available through the iGOT Karmayogi platform, which supports training for government personnel at the Centre and in the states. OpenAI will provide the approved content, while Karmayogi Bharat will coordinate access, learner engagement and engagement with relevant government departments.
The initiative aims to help civil servants build practical AI skills for everyday work and public-service delivery. Chhavi Bhardwaj, CEO of Karmayogi Bharat, said the collaboration would support responsible and confident use of AI. OpenAI India’s Pragya Misra noted that more than 1.7 crore government employees are registered on iGOT Karmayogi, offering a route to build AI capabilities at scale.
Motorica begins local production of bionic hand prostheses in India
Russian medical technology company Motorica has started local production of its Indy Hand bionic prosthesis at its Indian partner’s facility in Ghaziabad, Uttar Pradesh. The initiative involves transferring manufacturing technology, training local staff and introducing production and quality-control processes. Motorica said several dozen prostheses have already been manufactured, with some fitted to users. Indy Hand is a myoelectric forearm prosthesis for people with upper-limb amputations or congenital limb differences. It weighs 520 grams, supports multiple grip patterns and can lift loads of up to 10 kg. Local production is expected to reduce costs through domestic component sourcing and lower logistics expenses, while improving service responsiveness. Motorica has operated in India since 2021 and has established a network of more than 60 partner clinics. It plans to expand local production and introduce additional products.
VORAN and Polish firm explore gyroplane technology partnership
India’s VORAN Private Limited and Poland-based W&S Innovation – Aviation Artur Trendak have signed a memorandum of understanding to explore collaboration in gyroplane aviation and potential light-aircraft manufacturing in India. Initial areas of interest include the X2 advanced gyroplane and AAT TAIFUN, alongside other products the companies may agree on. The proposed collaboration could cover market development, design, technical know-how, support, product development, aircraft sales, pilot training, maintenance and technical-skills development. Any technology transfer or intellectual-property licensing would require separate agreements. The X2 features retractable landing gear, a shock-absorbing landing system, upward-opening electric doors and avionics including GPS navigation and liquid-crystal displays. VORAN said the partnership is part of its effort to connect international aviation expertise with Indian talent and develop capabilities in the country’s light-aviation sector.
KickSky opens applications for third space-tech accelerator cohort
KickSky Space Lab has opened applications for the third cohort of its accelerator for space-technology startups, with the programme expected to begin on December 1, 2026. The accelerator plans to select five to six companies. Founded in 2023 by deep-tech investors Riceberg Ventures, E2MC Ventures and Aniara Space, KickSky has supported 11 startups across its first two cohorts. Six graduates have secured funding or exited, according to the organisation. The six-month programme combines four months of active acceleration with two months of post-programme support. Selected startups will receive a $10,000 stipend, customised technical and business mentorship, commercialisation support and introductions to investors, customers and industry partners. KickSky is also developing partnerships to help startups with legal, regulatory, banking, testing and launch-related requirements. In June 2026, Ideabaaz acquired a 25% strategic stake in KickSky.
YatriKart and MMG Group plan 1,000 Quick Stop stores
Convenience retail company YatriKart has announced a ₹120 crore partnership with MMG Group to establish 1,000 Quick Stop stores across India over five years. Under the Franchise Invested, Company Operated model, MMG will fund store infrastructure and capital expenditure, while YatriKart will manage operating costs, technology, supply chain, staffing and daily operations. The first phase targets 100 stores in Delhi NCR, with locations planned at fuel stations, highways, bus stands and other transit hubs. YatriKart currently operates more than 80 stores across eight cities, selling coffee, food, beverages and everyday essentials. The company also plans to launch a consumer app that will let customers find stores along their routes, order ahead and receive products at participating locations. The 1,000-store plan supports YatriKart’s broader ambition to build a 5,000-store network nationwide.
boAt expands into Sri Lanka and Bhutan
Consumer technology brand boAt has expanded into Sri Lanka and Bhutan as it seeks to grow its international business beyond India. The company said international revenue more than doubled in FY26, providing early momentum for its overseas strategy. The new markets add to its presence across Southeast Asia and the Gulf Cooperation Council region. boAt is entering Sri Lanka and Bhutan with products spanning personal audio, smartwatches and charging solutions, and plans to adapt its portfolio according to local consumer preferences and market response. The expansion forms part of its “boAt 2.0” strategy, which includes entering new consumer-technology categories while building on its audio business. The company said wearables turned profitable in FY26 and charging products contributed to growth in profit beyond audio. Its India-based boAt Labs research and development centre has more than 100 engineers.
Azul releases security-only updates addressing 53 OpenJDK vulnerabilities
Enterprise Java provider Azul has released October Security-only, Stability-first updates for Azul Core to address all 53 vulnerabilities disclosed in the latest quarterly OpenJDK update. The company said the update contains security fixes without new features or unrelated changes, reducing the risk of software regressions during urgent patching. Azul described the vulnerability count as the highest in a single OpenJDK update in well over a decade and seven times the two-year quarterly average. It warned that AI tools are helping researchers uncover long-standing software flaws and enabling attackers to exploit vulnerabilities more quickly, while enterprise patch cycles can take weeks. Azul said its security-only updates are designed for immediate production deployment and are available for supported long-term Java releases. It also provides backported security fixes for organisations still running Java 6 and Java 7.
Fynd enters manufacturing technology with AI-powered Forge platform
Fynd, an AI-native unified commerce technology company, has entered the manufacturing technology segment with the launch of Fynd Forge, an AI-enabled manufacturing execution system. The platform is already operational at electronics manufacturer NeoLync’s facility in Tirupati, Andhra Pradesh. Forge manages more than 100 stations and nearly 90 process stages, with 160 operators using the system concurrently during each shift. It supports manufacturing processes ranging from component receipt and assembly to testing, packing and dispatch. Its AI assistant enables teams to analyse production and quality data, identify stalled work orders, investigate defects and build workflows using natural-language commands. The platform also enforces quality checks and maintains product traceability. The launch marks Fynd’s expansion beyond retail and commerce into manufacturing operations.
ISS India opens Bengaluru office to strengthen UK-India business ties
UK-based ISS India Ltd. has opened an office in Bengaluru to help businesses, particularly micro, small and medium enterprises (MSMEs), access and expand in the Indian and British markets. The inauguration was attended by Kim McGuinness, Chair of The Great North Trade Mission to India, alongside British Deputy High Commission officials, entrepreneurs and investors. The company also announced a three-day roadshow across key business hubs in North and Northeast England in late November 2026 for an Indian business and startup delegation. ISS India aims to support market entry, identify partners and distributors, and connect businesses with investment opportunities, universities and supply chains. Its leadership said the Bengaluru office would facilitate bilateral trade and collaboration following the UK-India trade agreement, with plans to expand into other Indian cities as demand grows.
LTM launches BlueVerse ValueMesh for enterprise AI execution
LTM has launched BlueVerse ValueMesh, an AI execution fabric designed to help enterprises scale artificial intelligence across the Oracle transformation lifecycle, from strategy and implementation to operations and continuous innovation. The offering brings together AI-enabled delivery, intelligent automation, AI agents, managed services, business processes, industry solutions, data and governance. It is organised around three layers: Enterprise AI for transformation, software engineering, testing and cloud operations; Business AI for functions such as finance, supply chain, human resources and customer experience; and Industrial AI for assets, field operations and sector-specific workflows. LTM’s four-stage framework—Sense, Shape, Stand Up and Sustain—is intended to help organisations identify AI opportunities, design solutions, deploy them and improve performance continuously. The company said the platform aims to move enterprises beyond isolated pilots towards scalable adoption, faster time-to-value and measurable business outcomes across their Oracle environments.
Federal Bank appoints Cognizant India chief Rajesh Varrier as independent director
Federal Bank has appointed Rajesh Varrier, chairman and managing director of Cognizant India, as an independent director on its board for a three-year term. The appointment, as an additional non-executive independent director, took effect on October 16, 2026, according to a regulatory filing by the private-sector lender. The bank said Varrier is not related to any of its directors. In his role at Cognizant India, Varrier provides regional leadership for the company’s India leadership council and India-based workforce, with a focus on transformation programmes and executing its growth plans across the country. The appointment brings technology-services leadership experience to Federal Bank’s board. The filing did not provide further details about Varrier’s specific responsibilities on the board or any committee assignments arising from the appointment.
Piramal Finance appoints former SBI chairman Dinesh Kumar Khara as director
Piramal Finance has appointed former State Bank of India chairman Dinesh Kumar Khara as an independent director for a five-year term, effective October 19, 2026. Khara brings nearly four decades of banking and financial-services experience. Piramal Finance chairman Anand Piramal said Khara’s experience and understanding of financial services would support the company’s growth and efforts to expand access to formal credit.
NuvoRetail launches AI-powered Amazon listing optimisation tool
E-commerce marketing and analytics agency NuvoRetail has launched Content Studio by enlytical.ai, an AI-powered solution to analyse, optimise and publish Amazon product listings. The platform combines competitor analysis, content creation, preview and publishing in a single workflow. It scores product pages out of 100, examines titles, descriptions, images and brand content, and identifies gaps against competitors. Brands can use the tool to refine product copy, imagery, A+ Content and Brand Stories while maintaining their visual identity and approved claims. Before publishing, teams can preview proposed pages on desktop and mobile, review changes and approve them. The platform then publishes updates and verifies implementation, with listings scored again to measure improvement. NuvoRetail said the solution is designed to make listing optimisation faster and more scalable, particularly for brands managing large catalogues during high-demand shopping periods.