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  • SMBC Secures RBI Nod to Acquire 24.99% Stake in Yes Bank

    The Reserve Bank of India (RBI) has approved a plan by Japanese lender Sumitomo Mitsui Banking Corporation to purchase up to 24.99% of the private sector lender, Yes Bank announced on 23 August. In the biggest cross-border investment in the Indian banking industry, the Japanese lender declared in May that it would pay INR 13,482 crore to acquire a 20% share in Yes Bank.

    Additional 4.9% Stake Application

    SMBC is a fully-owned subsidiary of Sumitomo Mitsui Financial firm, which as of the end of December had $2 trillion in assets, making it the second-largest banking firm in Japan. Then, according to a July Reuters story, SMBC applied for permission to acquire a further 4.9% of Yes Bank.

    SBI’s 13.19% Stake Sale

    When and from whom shareholders SMBC will buy the extra shares to increase its ownership in Yes Bank to little less than 25% are not yet known. The largest lender in India, State Bank of India (SBI), would sell 13.19% of its shares under the 20% stake sale plan.

    The remaining 6.81% will be sold by seven other shareholders: Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, and Kotak Mahindra Bank.

    Yes Bank’s Response to RBI Approval

    In a regulatory filing, Yes Bank stated that it is happy to notify that, by letter dated August 22, 2025, the Reserve Bank of India (RBI) has given SMBC permission to purchase up to 24.99% of the bank’s paid-up share capital and voting rights. One year from the date of this letter, this approval will remain in effect.

    In March 2020, the RBI replaced the board when Yes Bank’s financial situation worsened. Soon after, Yes Bank was saved by a group of banks led by SBI. According to the announcement, RBI has further explained that SMBC will not be considered a bank promoter after the transaction. Yes Bank is currently entirely owned by public shareholders and does not have a promoter.

    As stated in the agreements cited in Yes Bank’s notification dated May 9, Yes Bank stated that the proposed transaction is contingent upon clearance from the Competition Commission of India (CCI) and customary preconditions previously.

    Strategic Benefits of the Deal for Yes Bank

    Prashant Kumar, the CEO of Yes Bank, whose tenure expires in April 2025, told Mint three months ago that the private sector lender has accomplished three major goals thanks to the plan to sell 20% of Yes Bank. The fate of State Bank of India’s (SBI) ownership stake in the bank was one of the bank’s lingering issues, although Kumar said that it had been resolved.

    Proxy Advisory Firms Raise Concerns

    In the meanwhile, SMBC will receive two seats on the Yes Bank board as part of the agreement. However, proxy consulting companies were not pleased with Yes Bank’s decision to allow the Japanese lender to appoint its nomination directors to important board committees.

    On August 15, Mint announced that two proxy advice firms, Stakeholder Empowerment Services (SES) and Institutional Investor Advice Services India Ltd (IiAS), had advised investors to vote against the plan.

    Quick
    Shots

    •Approval valid for 1 year from August
    22, 2025.

    •SMBC (Japan’s 2nd largest bank) to
    invest INR 13,482 Cr for 20% stake.

    •SBI to sell 13.19%, rest 6.81% from
    Axis, HDFC, ICICI, Kotak, Bandhan, IDFC First, and Federal Bank.

    •SMBC also applied for additional 4.9%
    stake.

  • Just Months After Promotion, OpenAI’s Chief People Officer Quits the Company

    Right in the middle of the AI race, where major AI players (Meta, Google, xAI, Anthropic, and others) are competing for talent, OpenAI’s Chief People Officer steps down. Too much is going on for OpenAI right now. Elon Musk’s legal battle is one of the issues. The company plans to restructure itself to go public for a $40 billion fundraising (according to CNBC), which is another major development. And now this. Julia Villagra, the company’s chief people officer, exited the company on August 22, 2025. Her departure is raising questions about a power shift (internally) and more. Is this new high-profile exit a big blow to the company? Learn more details below.

    Who is Julia Villagra?

    Julia Villagra started her career as a Technical Recruiter in 2007. She worked for Tertulia for nearly 15 years. And less than a year after her promotion at OpenAI, she is now leaving the company. Here’s her timeline with OpenAI:

    • Julia Villagra got started as Head of Human Resources at OpenAI in February 2024. 
    • Later in May 2024, she was promoted to VP of People.
    • Soon, in June 2024, she became the Chief People Officer.

    Why Is This Important to OpenAI?

    The company is pushing harder to roll out enterprise (business-focused) AI products. And for that, OpenAI has to have the best talent on board. OpenAI is facing the heat from its rivals (Google, Meta, Anthropic, and xAI) to attract the top talent. This June, Sam Altman made headlines for revealing how Meta tried to lure its employees.

    He said large incentives and salaries were offered, including a $100 million signing bonus just to join. He also mentioned the efforts OpenAI made to fight back (by making counteroffers) to retain its top talent. The situation remains a tug of war.

    At a Time Open Plans to Go Public…

    Plus, the company is on the verge of going public (Public Benefit Corporation), and significant restructuring is underway. It aims for a $40 billion fundraising round led by SoftBank. Losing a key member at such a critical moment is definitely a setback.

    OpenAI Hiring From Rivals…

    Recently, the company hired Fidji Simo, a former Meta executive and ex-CEO of Instacart. She announced her goodbye to Instacart a week ago on her LinkedIn. According to her profile, she is taking on a larger role in OpenAI’s consumer-facing products like ChatGPT. 

  • Harajuku Tokyo Café Raises $2 Mn in Seed Funding to Expand Footprint Across India

     Harajuku Tokyo Café, India’s fastest-growing authentic Japanese casual dining and QSR chain, today announced the successful completion of its first institutional funding round, raising ₹19 crores in a structured investment. The round was led by Indian Angel Network (IAN), one of India’s largest angel investment platforms, with participation from Samved VC, LetsVenture as well as venture debt fund Capitar Ventures to support its aggressive expansion plans. Harajuku is seeing strong demand in its ongoing round, with additional capital expected to be raised.

    The funding comes on the heels of the brand’s highly successful Mumbai debut at Jio World Drive, BKC, where both Harajuku Tokyo Café and Harajuku Bakehouse opened to overwhelming customer response in July 2025. The Mumbai launch marks a significant milestone in the company’s mission to bring authentic Japanese cuisine to India’s mainstream dining landscape.

    Founded in 2021 by Gaurav Kanwar, Harajuku Tokyo Café has redefined Japanese dining in India by making authentic cuisine accessible through casual dining restaurants and quick-service formats. The brand has achieved remarkable growth, scaling to ₹30+ crores in annual recurring revenue (ARR) with 7 operational outlets across Delhi NCR and Mumbai. With technology and innovation at its core, the company is targeting 90 outlets across 20 cities and ₹200 crores+ in revenue by 2027, with Letters of Intent already signed for 15 locations in Delhi NCR, Mumbai, Ludhiana, and Chandigarh.

    This funding milestone strengthens our vision of democratizing Japanese cuisine in India,” said Gaurav Kanwar, Founder and CEO of Harajuku Tokyo Café. “What began as a passion project to make Japanese food accessible has evolved into a scalable business model that resonates with India’s evolving palate. With our Mumbai launch exceeding all expectations and this funding secured, we’re positioned to become India’s leading Japanese dining destination.”

    The brand’s unique positioning combines authentic Japanese flavors with Instagram-worthy aesthetics, featuring signature offerings like jiggly pancakes, conveyor belt sushi, Naruto ramen, and Japanese cotton cheesecakes. Each outlet creates an immersive Tokyo experience with manga libraries, robot DJs, and vibrant Harajuku-inspired décor.

    The investment round was co-led by IAN investors Hari Balasubramanian (who was one of the first angels in standout deals like Wow Momos, Samosa Party, and others), Uday Chatterjee, Pradeep Jai Singh and Sri Prakash, seasoned angel investors of IAN who bring diverse industry experience and strategic networks to support Harajuku’s expansion. Commenting on the deal, Mr. Balasubramanian said, “Gaurav and his team have masterfully executed a complex concept – bringing authentic Japanese cuisine to the mass market while maintaining quality and creating genuine brand affinity. Their attention to operational detail, from the central kitchen operations to the customer experience design, demonstrates the scalability we need to see in today’s competitive F&B landscape.”

    Mr. Chatterjee added, “Having visited their outlets multiple times with family, I can attest to both the food quality and the unique dining experience they’ve created. Harajuku is a cultural bridge that makes Japanese cuisine approachable for Indian families while maintaining authenticity.

    The round was also co-led by Samved VC; a venture capital fund focused on underserved and high-potential Indian markets. Speaking on the investment, Vivek KharePartner, Samved VC, said, “I’ve always believed that the best investments come from the heart—and my heart has long been with this brand. I’m a regular customer, drawn back again and again by the flavors I love. But what truly sealed my decision was the founder’s infectious passion—for the food, the menu, the processes, the hygiene, the branding, and the vision for scaling. He lives and breathes every aspect of the business, and that energy is as irresistible as the cuisine itself. Investing here is about being part of something I genuinely enjoy and believe in.”

    LetsVenture, led by Shanti Mohan—a leading early-stage investment platform that connects startups with accredited investors, also participated in the round.

    India’s food-service industry, valued at ~USD 51 billion today and set to more than double to USD 123 billion by 2033, is being driven by the explosive growth of casual dining and QSR. Within this, Japanese cuisine is one of the fastest-growing international segments, expanding at a double-digit CAGR. Driving this trend are rising anime influence, growing travel to Japan, and evolving consumer food preferences. Harajuku is at the forefront of this expansion.

    Harajuku operates through two high-growth formats: the full-service Harajuku Tokyo Café and the quick-service Harajuku Bakehouse. Backed by a central kitchen in Delhi NCR that handles 85% of food preparation, the brand delivers consistent quality within minutes across outlets. The business is already operating with industry-leading unit-level margins, providing a solid foundation for accelerated growth.

    Harajuku’s success stems from its innovative blend of culinary authenticity and operational technology. The brand collaborates with renowned Japanese chefs Asami Indo and Nariaki Higuchi, who bring years of experience to ensure cultural authenticity while constantly evolving and helping bridge the gap between Japan and India. The company also leverages technology across operations, from AI-powered inventory management, tech-driven loyalty programs to digital ordering and customer experience.

    Expanding beyond dining, the brand is foraying into the packaged food segment with its D2C vertical, KoiKoi Essentials, which will bring ramen kits, sauces, and frozen meals to homes across India.

    Mumbai’s response has been phenomenal,” shared Shreya Bhagat, Head of Marketing. “We’re seeing strong organic social media traction, with our conveyor belt sushi and jiggly pancakes becoming Instagram sensations, garnering 3 million views organically.” Harajuku Tokyo Café has also earned industry recognition with multiple awards, including Restaurateur of the Year (Restaurant India), Best Asian Specialty Casual Dining (NDTV Food Awards), Best Japanese Casual Dining (Times Food Awards), and Foreign Cuisine Restaurant of the Year (Indian Restaurant Awards).

    Beyond immediate expansion goals, Harajuku Tokyo Café envisions becoming India’s definitive Japanese dining brand while exploring international opportunities. The company is already in discussions for franchise partnerships in the UAE and other international markets where Indian diaspora communities could drive demand.

    Our vision extends beyond just restaurants,” concluded Gaurav Kanwar. “We’re building a Japanese lifestyle brand that encompasses dining, retail, and experiences. By 2030, when someone thinks of Japanese cuisine in India, we want Harajuku to be the first name that comes to mind.”

  • Wastelink raises INR 27 Cr from Avaana Capital to strengthen India’s animal feed supply chain with sustainable upcycled nutrition

    Wastelink, a pioneer in technology-led food upcycling, is solving one of the animal feed industry’s most persistent challenges: volatile supply and unstable prices. By transforming food surplus into standardized, high-quality feed ingredients, Wastelink, a brand of Forplanet Ingredients, delivers the nutrient consistency and supply security needed to build resilience across animal feed supply chains.

    The company has raised INR 27 crores (USD 3 million) in a Series A funding round from Avaana Capital, a leading technology fund that invests in transformative technologies across critical sectors to accelerate economic growth, long-term resilience and global competitiveness.

    Animal feed production remains heavily reliant on maize and soya; commodities increasingly exposed to price swings, climate risks, and nutritional inconsistency. This volatility destabilizes feed manufacturers and farmers alike. Wastelink offers a breakthrough alternative: its proprietary AI-enabled formulation and logistics platform transforms food surplus into ECOMIX™, a traceable, performance-tested feed ingredient. ECOMIX™ delivers consistent nutrition while insulating against commodity-driven price shocks, and is already trusted by leading food producers and feed manufacturers.  

    Since inception, Wastelink has upcycled more than 35,000 tons of FMCG surplus into feed ingredients. Each year, ECOMIX™ supports 38,500+ animals, improving milk yields by up to 15% while giving manufacturers a dependable, price-stable input.

    “Animal feed is the backbone of our food system, yet it suffers from chronic volatility in quality and price.” Saket, Founder and CEO of Wastelink “We’re addressing this by delivering consistent, traceable, and cost-stable nutrition at scale. This fundraise powers our nationwide expansion and strengthens our R&D and technology to build a category-defining company that ensures resilience for feed manufacturers, farmers, and the broader food chain..”

    Krishnan, Co-Founder of Wastelink, added, “Our approach combines science, technology, and circularity to create a reliable feed input the industry can trust. Redirecting food surplus is the mechanism—but the outcome is resilience in animal nutrition that benefits farmers, businesses, and the planet.”

    Swapna Gupta, Partner, Avaana Capital, said: “Wastelink is reimagining animal feed by solving two critical challenges- nutrient inconsistency and price volatility. By redirecting food surplus into standardized, traceable inputs, their platform solves for supply chain resilience. This is the kind of breakthrough innovation India can pioneer to build future-ready food systems for the world.”

    Wastelink, a brand of Forplanet Ingredients, is building resilience in India’s animal feed supply chain by delivering nutrient consistency and price stability through its flagship product ECOMIX™. Founded in 2018, Wastelink combines feed science, proprietary processing, and AI-enabled supply chain technology to upcycle food surplus into traceable, high-quality animal feed.

    About Avaana Capital 

    Founded in 2018, Avaana Capital invests in and supports visionary deep tech entrepreneurs and startups leveraging frontier innovation to pioneer globally competitive solutions in Energy, Supply Chains, Food & Agriculture, and Advanced Materials.

    To date, Avaana has made high-conviction investments in pioneering startups including Enlite (Interoperable Building Management Technology), GreenGrahi (insect biotech platform), Eeki Foods (climate resilient precision agriculture), Turno (commercial EV financing and distribution), Dreamfly (next-gen battery platform for drones), Kazam ( interoperable EV charging), Eggoz (high nutrition eggs), Farmart (SaaS-B2B platform for food and agriculture), Amperehour (grid scale battery energy storage solutions) and Aerem (MSME rooftop solar)—each building cost-competitive, future-ready solutions from India for the world.

  • Vertiv Completes Acquisition of Great Lakes Data Racks & Cabinets

    Vertiv Holdings Co (NYSE: VRT), a global provider of critical digital infrastructure, announced the successful completion of its previously reported intent to acquire the Great Lakes Data Racks & Cabinets family of companies (“Great Lakes”), a leading manufacturer of innovative data rack enclosures and integrated infrastructure solutions. The ~$200 million acquisition expands Vertiv’s rack, cabinet and integration solutions for white space applications.

    “We are pleased to officially welcome the Great Lakes team to Vertiv and begin innovating new white space solutions,” said Gio Albertazzi, Vertiv’s Chief Executive Officer“Great Lakes brings exceptional talent and capabilities that will enhance our ability to deliver comprehensive infrastructure solutions, furthering Vertiv’s capabilities to customize at scale and configure at speed for AI and high-density computing environments.” 

    The integration of Great Lakes’ expertise with Vertiv’s existing portfolio is expected to deliver significant customer benefits through streamlined infrastructure sourcing, faster deployment through pre-engineered solutions, enhanced operational efficiency with factory integration of Vertiv™ power and cooling solutions, improved scalability for AI and edge computing applications, and comprehensive support through Vertiv’s global service network. 

    Established in 1985 and headquartered in Edinboro, PA, U.S., Great Lakes operates manufacturing and assembly facilities in the U.S. and Europe. Its portfolio includes standard and custom racks, integrated cabinets, seismic cabinets, and enhanced cable management access options for both retrofit and greenfield applications. This addition strengthens Vertiv’s end-to-end critical digital infrastructure offerings, enhancing Vertiv’s ability to provide the industry’s most complete set of products and services for critical digital infrastructure needs. 

    About Vertiv Holdings Co 

    Vertiv (NYSE: VRT) brings together hardware, software, analytics and ongoing services to enable its customers’ vital applications to run continuously, perform optimally and grow with their business needs. Vertiv solves the most important challenges facing today’s data centers, communication networks and commercial and industrial facilities with a portfolio of power, cooling and IT infrastructure solutions and services that extends from the cloud to the edge of the network. Headquartered in Westerville, Ohio, USA, Vertiv does business in more than 130 countries.

    Cautionary Note Regarding Forward-Looking Statements  
    This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27 of the Securities Act, and Section 21E of the Securities Exchange Act. These statements are only a prediction. Actual events or results may differ materially from those in the forward-looking statements set forth herein. Readers are referred to Vertiv’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q for a discussion of important risk factors concerning Vertiv and its operations. Those risk factors and risks related to the integration and performance of Great Lakes, among others, could cause actual results to differ materially from historical performance and include, but are not limited to: the successful integration of Great Lakes; expected expenses related to the transaction and integration of Great Lakes; the possible diversion of management time on issues related to the transaction and integration of Great Lakes; the ability of Vertiv to maintain relationships with customers and suppliers of Great Lakes; and the ability of Vertiv to retain management and key employees of Great Lakes. Vertiv is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. 

  • NBFC CredRight raises $10 mn in Series B from Abler Nordic, existing backers

    CredRight, a Non-Banking Financial Company (NBFC) that bridges the credit gap for India’s smallest business owners, has raised $10 million in Series B funding led by Abler Nordic, marking its first investment from the new Fund V. Existing investors Michael & Susan Dell Foundation and Unleash Capital also participated in the round.

    The funds will be used to expand CredRight’s loan book, upgrade its technology platform and extend its reach to more entrepreneurs in Tier-2 to Tier-4 towns. Abler Nordic, now the company’s largest equity investor, will work with the management to scale operations, strengthen governance, and deepen impact.

    Founded in 2016 in Hyderabad by Neeraj Bansal, an alumnus of BIT Durg and IIM Lucknow, and Vineet Jawa, an ISB alumnus and serial entrepreneur, CredRight operates a “phygital” model that blends digital lending with a network of 125 low-cost branches across four Indian states. The company currently serves more than 20,000 micro-enterprises—many of them small shopkeepers and traders excluded from formal credit. Its backers also include YourNest Venture Capital, 100Unicorns and Accion Venture Lab. 

    Neeraj Bansal, co-founder of CredRight, said, “Micro enterprises will play a significant role in India’s journey to a $10 trillion GDP. Access to institutional capital accelerates their growth and resilience. This fundraise, despite industry headwinds, is a testament to CredRight’s business model.”

    India’s micro, small and medium enterprises (MSME) sector faces a staggering estimated credit gap of $530 billion, of which $169 billion lies in the micro segment. Only around 14% of the country’s 64 million micro-entrepreneurs have access to individual business loans, with the gap most acute in semi-urban and rural markets.

    “This first investment from Fund V reflects both our confidence in CredRight’s model and our strong commitment to India as a priority market. By supporting CredRight with patient capital and active ownership, we aim to back a locally-rooted solution that effectively addresses this gap,”said Arthur Sletteberg, Managing Director at Abler Nordic. 

    Rakesh Goyal, Head – Financial Services, Michael & Susan Dell Foundation India, added, “Nano or micro entrepreneurs form the backbone of India’s economy, yet most lack access to fair and flexible capital. CredRight is changing that by blending technology with community reach, helping thousands of small businesses boost income, create jobs and achieve financial security.”

    According to the 2023 60 Decibels Microfinance Index, over 70% of CredRight customers reported increased income, higher savings, and better financial management after receiving loans. The company says it aims to empower over 10 million nano enterprises across India’s underserved markets.

  • WizCommerce Raises $8M to Rebuild the $10T Wholesale Market with AI

    WizCommerce, the AI-native sales and ecommerce platform for wholesale distributors, has raised $8 million in Series A funding. The round was led by Peak XV Partners (formerly Sequoia India), with participation from Blume Ventures, Z47, and Alpha Wave. The funding will fuel WizCommerce’s continued expansion across the U.S. and accelerate development of its AI-powered platform for sales, commerce, and B2B payments. 

    Founded by Divyaanshu Makkar (ex-Bessemer Venture Partners, ex-EY-Parthenon) and Vikas Garg (ex-Zomato), WizCommerce is modernizing the infrastructure behind the $10 trillion U.S. wholesale market, a space that still runs on spreadsheets, outdated portals, and manual order-taking. 

    The platform brings together sales reps, marketers, and buyers on one system, combining AI-powered quoting, intelligent storefronts, ERP integrations, lifestyle image generation, and embedded payments. Already, $100M+ in GMV flows through the WizCommerce network annually, with 700+ reps and 300K+ buyers using the platform across categories like home décor, lighting, and general merchandise. 

    “We’re building the stack wholesale should have had all along,” said Divyaanshu Makkar, CEO and co-founder of WizCommerce. “A few years from now, no one will be calling to check stock or emailing product photos. AI will handle the grunt work – what to sell, how to sell it, and all the admin work in between. Reps will close faster, ops teams will run lighter, and buyers will get a curated experience that feels effortless. That’s the future and it’s closer than people think. With this fundraise we plan to double down on AI and launch an AI workforce for distributors to automate both back office and front office operations.” 

    “What stands out is how consistently WizCommerce earns praise from both reps and buyers,” said Rishen Kapoor, VP at Peak XV. “Reps tell us it’s the tool they open first, and buyers appreciate the simpler ordering process. It’s uncommon to see a platform improve internal workflows and customer experience at once. With hundreds of reps and thousands of buyers already using it, WizCommerce is on track to become a core part of the wholesale tech stack.” 

    Rishen Kapoor added, “Wholesale is still largely run on legacy systems. WizCommerce is addressing that gap with an AIfirst product built for the industry’s daytoday needs. Their early traction shows they’re wellplaced to lead the shift.”

    Sajith Pai, Partner at Blume Ventures, said, “Div, Vikas, and the team at WizCommerce have built a product stack that U.S. wholesalers and distributors absolutely love, reflected in their rapid revenue growth. Thanks to a culture built around intense customer listening, a ship fast attitude leveraging AI tooling, they are able to rapidly launch and succeed with new products such as WizAI and WizStudio addressing key customer needs. The new round will help in continued acceleration on product development, and GTM efforts including expansion into adjacent verticals.” 

    WizCommerce is actively hiring across engineering, AI, product, and GTM functions, with hubs in the U.S. and India. 

  • Apple to Launch Foldable iPhone in 2026 with Touch ID and Quad-Camera Setup

    According to Bloomberg, Apple is preparing a significant overhaul of its iPhone portfolio, with a foldable iPhone anticipated in 2026. Code-named V68, the device is said to include four cameras: two on the back, one within, and one on the front. It will open like a little tablet.

    Quad-Camera Setup & Tablet-Style Design

    It’s interesting to note that, similar to the next iPhone Air, it will not feature a real SIM card slot and will return Touch ID rather than Face ID. Apple is getting ready to release its 2025 iPhone lineup before the foldable arrives. Following the MacBook Air’s design, the next iPhone Air will be lighter and thinner, but it will also contain Apple’s first in-house modem chip, a smaller battery, and only one rear camera.

    Although the Pro versions will have new colour options like orange and improved cameras, the iPhone 17, 17 Pro, and 17 Pro Max are also anticipated, although their designs won’t deviate significantly from the iPhone 16.

    Apple’s Expanding Product Roadmap

    For the foldable iPhone, Apple is also reconsidering screen technologies. By switching to in-cell touch sensors, the business hopes to improve touch response and lessen creases on the unfolded display. Aiming for an autumn 2026 release, suppliers are already getting ready for manufacturing early next year. Apple has a bustling product roadmap that includes more than just iPhones.

    Updates with heart-rate monitoring capabilities are planned for the iPad Pros, Apple Watch, Vision Pro headsets, and AirPods Pro this year. Additionally, the company is investigating additional devices such as a tabletop robot, display-less smart eyewear, and a HomePod with a screen. Apple is also improving its services. Apple TV+ just increased its pricing from $9.99 to $12.99, and AppleCare One, a $20 monthly package that covers three devices, is already available.

    Next year, a paid Health+ service with AI-powered health recommendations is also anticipated. In order to improve Siri, Apple is looking into joint ventures with Google, Anthropic, and OpenAI. In the meantime, it has lost a number of its top AI executives to Meta, demonstrating the intense talent competition. The next foldable device is expected to be a game-changer, laying the groundwork for Apple’s next wave of innovation, even though 2025 may not see any breakthrough iPhones.

    Apple’s India Strategy: INR 1,010 Crore Office Lease in Bengaluru

    According to various media reports, the smartphone giant Apple has rented approximately 2.7 lakh square feet of office space in Bengaluru for ten years, with a total outlay of approximately INR 1,010 crore for the duration, which includes rent, parking, and maintenance.

    The iPhone manufacturer will pay a monthly rent of INR 6.31 crore, or INR 235 per square foot, to occupy the fifth through thirteenth floors of Embassy Zenith on Sankey Road, Vasanth Nagar, in Bengaluru.

    A security deposit of INR 31.57 crore has been made by the corporation, with a 4.5% yearly rent increase. The lease was registered in July and started on April 3, 2025. According to the paperwork, Apple has paid stamp duty of INR 1.5 crore.

    Quick
    Shots

    •Code-named V68, expected autumn 2026.

    •Quad-camera setup: 2 rear, 1 inside,
    1 front.

    •Likely to bring back Touch ID, no
    Face ID.

    •No physical SIM card slot.

  • Stellaris-Backed BeepKart Shuts Operations Amid Funding Winter in India

    The four-year journey that once promised to revolutionise India’s pre-owned two-wheeler business has come to an end with the closure of Bengaluru-based Beepkart.

    According to a statement posted on the startup’s website, BeepKart is still totally dedicated to helping its current clients. We appreciate your participation in the BeepKart adventure. Currently, negotiations are underway for its creators to sell BeepKart’s tech stack and assets.

    According to various news reports, they also want to give investors their money back. Hemir Doshi and Abhishek Saraf, the cofounders of BeepKart, did not reply to Inc42’s enquiries regarding the development. When a response is received, the story will be updated.

    Closure of Chennai Plant & Layoffs

    This follows many media stories stating that BeepKart has closed its Chennai operations and fired all of its employees there. The startup was also progressively closing its Bengaluru offices. At the time, a BeepKart representative had stated that the company was transitioning to an asset-light operating model.

    The spokesman also stated that BeepKart had a “comfortable runway”, had “substantially” increased its profitability, and was negotiating an M&A deal with possible strategic investors. But such conversations never came to pass. Established in 2021, BeepKart has raised more than $18 million from well-known investors, including Innoven Capital, Stellaris Venture Partners, and Chiratae Ventures.

    Why BeepKart Failed Despite Rising Revenues?

    By providing consumers with inspection, refurbishment, financing, and warranties, the firm positioned itself as a full-stack platform for buying and selling old two-wheelers. Nevertheless, the business model suffered from high operational costs and narrow margins.

    After raising money between 2022 and 2024, BeepKart expanded aggressively, opening several outlets in Bengaluru and Chennai; however, this strategy backfired. Numerous stores were positioned close to one another, which reduced each other’s clientele rather than broadening their reach.

    Investor Backing & Aggressive Expansion

    Despite a 165% YoY increase in revenue to INR 100 Cr in FY24, BeepKart’s loss doubled to INR 66 Cr. According to reports, the cost of refurbishment accounted for around 10% of car pricing, making it challenging to maintain profitability in a market where consumers are highly sensitive to price.

    Uncertainty was increased by the startup’s recent run of high-level departures, which included the departures of its CTO and important business leaders. In the meantime, social media was inundated with complaints from its consumers regarding subpar after-sales services and vehicle condition.

    Challenges in India’s Used Two-Wheeler Market

    The demise of BeepKart joins an increasing number of failures in India’s second-hand two-wheeler market, where CredR and Cars24’s Moto have already ceased operations. Scaling has been very challenging due to a number of variables, including low margins, fragmented supply, and investor unwillingness to support operations-heavy models, even though the addressable market is huge.

    Quick
    Shots

    •Bengaluru-based BeepKart, once poised
    to revolutionize India’s pre-owned two-wheeler segment, has shut down after
    four years.

    •Startup posted closure note on its
    website, ensuring support for existing customers.

    •Founders are negotiating sale of tech
    stack & assets; reports suggest investors may get their money back.

    •Shutdown follows closure of Chennai
    plant and layoffs.

  • Swasya Living Announces Expansion to Build Eco-Farmland Communities in Pondicherry, Lonavala, and Kanakapura

    After establishing its flagship regenerative farmland community in Sakleshpur, Swasya Living has announced its plans to expand into three new locations: Pondicherry, Lonavala, and Kanakapura. The Bengaluru-based brand, which promotes eco-conscious living through integrated farmland and second-home projects, is set to roll out up to three parallel developments over the next two to three quarters.

    The expansion reflects the rising demand for sustainable second homes that blend nature, wellness, and food security. Swasya Living’s model goes beyond traditional real estate by offering co-owned or individually owned farmland homes set in ecologically sound environments. The brand follows a stringent sustainability checklist before finalising a site, evaluating soil quality, biodiversity, groundwater availability, and natural tree cover to ensure each project aligns with regenerative principles.

    The Sakleshpur project was sold out in 18 months. Spread across 40 acres, the community integrates eco-friendly construction, solar power, water harvesting, organic farming, forest trails, and even pollinator zones for bees and butterflies. No trees are cut during construction, and homes are built using over 80% eco-conscious materials.

    At Sakleshpur, Swasya Living has cultivated a truly self-sustaining ecosystem. The community grows a wide variety of vegetables, mushrooms, exotic greens, and microgreens, supported by a dedicated three-acre kitchen garden and modern hydroponic systems. Livestock and aquaculture also form an integral part of the model – with six cows already on-site, ten more pledged by residents, and fish farming being introduced.

    In keeping with traditional practices, turmeric and chilli powders are prepared using age-old stone-crushing methods, ensuring authenticity and purity. The farmland also houses around 100 beehives, producing an abundant supply of honey and enriching local biodiversity.

    Swasya Living’s impact extends well beyond the farmland. The community actively supports nearby villages by installing streetlights, fixing school roofs, and providing solar power in a region often affected by days of rain-induced electricity shortages. It also sponsors children’s education, helping uplift local families and strengthen community ties.

    Through these initiatives, the Sakleshpur project demonstrates that eco-living is not just about sustainable homes; it is about building ecosystems where people, nature, and communities grow together in harmony.

    The new projects are expected to follow the same philosophy, with a strong focus on water security, climate resilience, and low-carbon construction. Each site will feature integrated farming zones, eco-homes, and communal spaces designed to promote wellness, nature immersion, and community interaction. Swasya Living also works with agroforestry and biodiversity experts to restore local flora and fauna as part of its land development.

    Swasya Living was founded by Nijish Nair, Ashrith Begur, and Avinash Begur, three visionaries driven by a shared passion for sustainable living and community-centric design. Unlike traditional gated communities, Swasya Living’s developments aim to offer a slow-living lifestyle that combines food self-reliance with climate-conscious housing. Residents have access to organically grown produce, solar energy, rainwater harvesting systems, and natural trails, while participating in a collective that shares responsibilities around land care and sustainability.

    The brands expansion into Pondicherry, Lonavala, and Kanakapura is based on months of research into climate suitability, soil health, and market demand. Each of these regions has shown strong interest from urban professionals, retirees, and young families seeking eco-friendly getaways or long-term second homes outside the city grind.

    The upcoming projects will also include nature-aligned architecture with minimal ecological disruption. Designs will be adapted to the local climate and topography, ensuring that each home remains energy efficient and in harmony with its surroundings. Community features like food forests, bee sanctuaries, permaculture gardens, and natural water bodies are being planned as core elements of every site.

    Industry experts note that the rise of sustainable living models like Swasya Living is a response to increasing urban stress and climate anxiety. With work-from-anywhere flexibility, more homebuyers are looking to invest in spaces that offer better air quality, natural surroundings, and purpose-driven living.

    Swasya Living’s founders say their long-term vision is to create a network of regenerative communities across India, spaces that aren’t just homes, but ecosystems where humans and nature can coexist and flourish. Their unique proposition lies in offering people the opportunity to be co-stewards of the land they live on, with support systems for farming, home maintenance, and eco-conscious design already built in.

    The company has also attracted the attention of investors and sustainability advocates, who see potential in scalable models that balance profitability with environmental stewardship. While pricing details for the new projects have not yet been disclosed, interest from potential buyers is already growing, especially among those who missed the initial Sakleshpur offering.

    With environmental concerns becoming a mainstream priority, Swasya Living’s emphasis on regenerative design, food sovereignty, and conscious community living appears to be striking the right chord. The brand is also exploring long-term education and impact programs within its communities to promote ecological awareness among residents and children alike.

    As Swasya Living prepares to break ground on its new sites, it is positioning itself not just as a real estate developer but as a changemaker in India’s sustainable living movement. The next 12 months will be critical as the company transitions from a successful pilot to a multi-location footprint, navigating challenges around regulation, scalability, and infrastructure, while staying true to its ecological values. With the climate crisis accelerating and consumer behaviour evolving, the demand for mindful living is no longer a niche. Brands like Swasya Living are carving a new pathone where homes grow food, communities protect biodiversity, and real estate contributes to a regenerative future.