YourStory brings you today’s headlines with the latest developments across sectors.
Funding news
GVFL leads Rs 3.7 Cr seed funding round in SpectraGaze Systems
GVFL has led a Rs 3.7 crore seed round in Ahmedabad-based SpectraGaze Systems, with participation from angel investors. Founded in 2023 by former ISRO scientist Arup Banerjee, the startup develops indigenous optical imaging sensors and electro-optical payloads for space, defence and scientific applications.
SpectraGaze's customers include ISRO, Physical Research Laboratory, and Kaynes Technology. It has delivered an infrared detector and test system to ISRO and secured an image sensor development contract for its HRSAT programme.
The funding will support product development, engineering expansion, testing infrastructure and existing customer projects. The company is also developing a hyperspectral imaging camera for a 3U satellite.
Other news
India’s GCCs are projected to grow to about 3.7M employees by 2031
India’s global capability centres (GCCs) are projected to grow from 2.3 million employees to 3.3-3.7 million by 2031, adding 1-1.4 million net jobs and generating 150-170 million sq ft of additional office demand, according to an Embark report.
Based on a survey of 100 GCC leaders, the report found that 92% have moved beyond selective AI adoption, but realised productivity gains remain below 15%. Around 80% of workforce additions are expected from existing centres, while demand shifts towards specialised AI, data and cybersecurity roles. Bengaluru and Hyderabad account for 67% of Tier I GCC leasing, while BFSI and technology, media and telecom are expected to drive 54% of incremental office demand.
Purple Finance posts 101% AUM growth
Purple Finance's standalone assets under management rose 101% year-on-year to Rs 329.21 crore in H1 FY27. The NBFC's board has approved exploring entry into affordable housing finance through an acquisition, investment or subsidiary, subject to regulatory approvals.
The company has introduced two MSME lending products, PURPLE SARAL, offering loans of Rs 75,000 to Rs 2 lakh, and SAKSHAM LAP, providing mortgage loans of Rs 2 lakh to Rs 4 lakh. It has also launched institutional lending to NBFCs serving MSMEs. Gross non-performing assets remained below 2.5%. Following its acquisition of Saksham Gram Credit, combined AUM reached Rs 853 crore across 205 branches.
Lenskart opens its first concept flagship store in India
Lenskart has opened its first concept flagship store in India, Lenskart evolv, at Worli, Mumbai. The store combines eyewear retail with design, technology and fashion, featuring chrome-finished interiors and interactive installations
Lenskart evolv's services include AI-assisted eye testing, remote optometrist consultations, and a digital shopping assistant. The store also uses Tango Eye technology to support the shopping experience.
Lenskart CEO Peyush Bansal said the concept store aims to expand how customers discover and experience eyewear. The company plans to explore a limited number of similar stores in the future.
Delhivery, Peak XV Partners launch Demo Day
Delhivery and Peak XV Partners have launched Demo Day, powered by Amazon Web Services, to support startups developing technology for supply chains and logistics. The initiative will focus on artificial intelligence applications in logistics, robotics and industrial automation.
Selected startups will present their solutions to Delhivery and Peak XV leaders and may access mentorship, cloud infrastructure support, potential investment and opportunities to test technologies in live logistics environments through Delhivery’s network. The programme is open to startups developing solutions for the Indian market, with an emphasis on technologies that can be deployed in real-world operations.
(This article will be updated with the latest news throughout the day.)