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Tag: #news

  • Apple Developing AI-Powered Web Search for Siri to Compete with OpenAI and Perplexity

    Apple Inc. intends to increase rivalry with OpenAI and Perplexity AI Inc. by releasing its own AI-powered web search service the following year. According to a report by Bloomberg, the corporation is developing a new system that will be incorporated into the Siri voice assistant.

    This technology is internally referred to as World Knowledge Answers. Apple has also talked of ultimately integrating the technology into Spotlight, which is used to search from the iPhone home screen, and its Safari web browser. The article further reported that Apple plans to launch the service, which some executives have referred to as an “answer engine”, in the spring as part of a long-delayed update to Siri.

    World Knowledge Answers: How It Works

    Similar to ChatGPT, AI Overviews in Google Search, and a plethora of new apps, the goal is to make Siri and Apple’s operating systems a place where consumers can search the internet for information. Large language models, or LLMs, a crucial piece of technology supporting generative AI, will be the foundation of the strategy.

    Alphabet Inc.’s Google, Apple’s longstanding internet search partner, may contribute some of the underlying technology that makes the new Siri possible. According to the report, the businesses formally agreed this week for Apple to assess and test an AI model created by Google to support the voice assistant.

    Apple’s new search experience would feature an interface that utilises text, images, videos, and nearby points of interest. Additionally, compared to the present Siri, it will have an AI-powered summarisation mechanism that will make results easier to understand and more accurate.

    Current Phase of Siri

    Among other things, today’s Siri can respond to simple queries and offer information about famous people, occasions, films, and sports. However, it has trouble with more complicated enquiries and general knowledge searches, frequently returning results from ChatGPT or Google.

    The voice assistant, which was revolutionary when it was first introduced in 2011, has come to symbolise Apple’s artificial intelligence shortcomings. In order to better answer questions, the digital assistant will be able to access personal information and on-screen content as part of the long-awaited Siri update. Additionally, it will include improved voice navigation capabilities for consumers’ devices.

    How Apple Plans to Compete with OpenAI and Perplexity?

    Apple is now aiming to advance the update. The AI search capability is based on a technological update for Siri called Linwood and LLM Siri. The Siri group, directed by Craig Federighi, Apple’s head of software engineering; the AI division, led by John Giannandrea; and Apple’s services business, overseen by Eddy Cue, are among the team members working on the search endeavour. Under Federighi, Mike Rockwell, the man behind the Vision Pro headset, is leading the endeavour, while under Giannandrea, Robby Walker, a former Siri executive, is a major force behind the initiative.

    Quick
    Shots

    •Expected
    rollout in spring next year as part of a long-delayed Siri update.

    •Project
    internally called “World Knowledge Answers”

    •Planned
    for Siri, Spotlight, and Safari for a unified search experience.

    •Apple
    to test a Google AI model to enhance Siri’s performance.

  • Bain Capital and Sattva Group Launch $100M Pan-India Co-Living Platform; Sattva-backed Colive Also Secures $20M from Bain Capital

    Colive, India’s leading and Bangalore’s largest co-living platform, today announced a strategic partnership with Bain Capital and Sattva Group to establish a pan-India co-living real estate platform with an initial commitment of at least $100 million. The new platform will be dedicated to acquiring land, developing flagship communities, and delivering purpose-built rental housing across India’s largest urban centers, meeting the growing demand from young professionals and students for high-quality, community-driven living spaces.

    As part of the partnership, Colive also raised $20 million in strategic funding, spearheaded by Bain Capital, with strong backing from long-term partner Sattva Group. The $20 million operational investment will power Colive’s accelerated growth trajectory through enhanced technology infrastructure, expanded market presence, and reinforced market leadership in tech-enabled rental housing solutions across India.

    This exclusive real estate platform, managed by Colive, has completed initial land acquisitions in Pune and Bengaluru, with nearly 0.5 Mn sq ft of Coliving spaces under development. Additional opportunities are being actively evaluated in Bangalore, Pune, and Hyderabad. The PropCo initiative targets 8-10 flagship developments in the immediate term, creating a scalable foundation for Colive’s pan-India expansion. While the platform is being launched with an initial commitment of $100 million, the partners view the opportunity as scalable over time and open to considering additional investments as attractive opportunities emerge.

    The platform will deliver intelligent, fully furnished, professionally managed residences strategically positioned near major employment hubs and educational centers, addressing the evolving lifestyle demands of Gen Z and millennial residents while providing seamless transitions for India’s urban migrants.

    Strategic Vision and Market Leadership

    “India is experiencing a fundamental transformation in urban housing preferences, and Colive stands uniquely positioned to address this surging demand through technology-enabled, community-focused living solutions. Our investment commitment demonstrates our unwavering confidence in this market category and Colive’s established leadership position,” stated Sarit Chopra, Partner at Bain Capital.

    “At Sattva, we have long believed that co-living is a critical enabler of India’s urban transformation. We have deepened our partnership with Colive significantly over the last few years, which reflects our conviction that this sector holds immense potential. While demand from young professionals migrating to cities is robust, the real challenge lies in creating quality supply that matches their aspirations and lifestyle needs. Through this partnership with Bain Capital, we are bringing international standards and global best practices to India while establishing a dedicated PropCo platform for purpose-built assets and are positioned to scale solutions that will shape how India’s next generation lives and works in our cities,” emphasized Bijay Agarwal, Managing Director, Sattva Group.

    Technology-Driven Community Experience

    Founded on the transformative mission of becoming “Your Family, Away from Family,” Colive is reshaping urban living through its distinctive 6 Star Living framework: Style, Safety, Smart, Service, Savings, and Social. Colive’s proprietary technology ecosystem orchestrates the complete resident experience—from streamlined digital onboarding and automated payment systems to app-integrated safety protocols, maintenance coordination, and concierge services—delivering a secure, interconnected, and dynamic community-centered lifestyle that establishes new benchmarks in metropolitan living.

    As India navigates unprecedented urban migration, demand for premium rental housing continues its upward trajectory. Colive addresses this market opportunity by developing environments that exceed basic accommodation, featuring thoughtfully curated common spaces, organized community programming, and an integrated digital platform that cultivates authentic connections and exceptional convenience.

    Future Growth and Market Impact

    “This funding represents a pivotal moment in Colive’s journey to revolutionize urban living for young professionals throughout India. It signifies strong investor confidence in our vision and enables accelerated scaling, continuous innovation, and deeper commitment to developing intelligent, community-centered living environments that genuinely feel like home” added Suresh Rangarajan, Founder & CEO, Colive.

    About Colive

    As Bangalore’s largest and India’s leading co-living brand, Colive is transforming urban living with its vision of being “Your Family” away from family. Designed for working professionals and students, Colive provides smart, fully furnished, and managed homes close to workplaces and colleges, ensuring a seamless and comfortable stay for urban migrants. Guided by the 6S principles of Style, Safety, Smart, Service, Savings, and Social, Colive offers a superior living experience. With 1 million users, 14,000 managed beds, and plans to expand to 50,000 beds within the next 5 years.

    About Bain Capital

    Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management.

    About Sattva Group

    With over three decades of pioneering excellence, Sattva Group has emerged as India’s leading real estate powerhouse, delivering 78 million sq. ft of premium developments with 71+ million sq. ft under construction across multiple cities. The Group has achieved a historic milestone by listing India’s largest Commercial REIT, Knowledge Realty Trust (KRT) as co-sponsor with long term partner Blackstone, encompassing 46 million sq. ft of Grade A office assets across six cities and establishing itself as India’s most geographically diversified REIT. Sattva’s commercial portfolio features iconic developments across key markets, while its expansive residential business spans Bangalore, Hyderabad, Mumbai, Pune, and Goa with diverse premium and luxury projects. Beyond core real estate, the Group’s strategic diversification into co-working, co-living, education, hospitality, data centers, and warehousing reinforces its position as a comprehensive urban infrastructure leader, supported by an exceptional CRISIL A+ rating that underscores decades of financial strength and unwavering quality commitment.

  • QuantE Energy Raises $500,000 from TDV Partners and Marquee Angel Investors to Democratize Solar and Clean Energy Access in India

    QuantE Energy Tech Private Limited, a cleantech startup focused on distributed solar and renewable energy solutions in residential sector, has raised $500K in seed funding from Trillion Dollar Venture (TDV)  Partners, an early-stage VC  alongside participation from marquee angel investors including Raghunandan G – Founder Zolve and TaxiForSure,  Amit Lakhotia- Founder Park+, Ankit Gupta – President Brookfields and ex-CEO OYO and Hari Krishnan Nair – co-founder Great Learning. It has also raised an undisclosed amount in debt and related instruments.

    The investment will fuel the company’s mission to democratize access to clean, affordable, and smart energy for the residential sector, especially housing societies in Indian metros and beyond.

    The funding comes as India gears toward its ambitious renewable energy targets of 500 GW by 2030, with distributed solar playing a crucial role in the country’s energy transition. Yet, most of India’s residential rooftop capacity remains untapped, with residential societies and individual homes — facing challenges of upfront costs, poor servicing, limited awareness and inconsistent project quality.

    QuantE addresses this by deploying AI and IoT-powered solutions along with innovative financial models that make clean energy adoption seamless, affordable, and scalable. Founded in 2024 by seasoned entrepreneurs Akshat Khare and Ankush Vashisht, the company’s platform combines advanced technology with innovative financing models to target India’s untapped $25 billion distributed solar opportunity.

    “This investment accelerates our mission to bring clean energy to markets that have been largely overlooked,” said Akshat Khare, Co-founder QuantE Energy Tech. “The solar industry has grown rapidly in large urban projects, but there’s still a huge gap in serving the residential segment and societies. These customers face real barriers—high upfront costs  and poor service and quality. We’re using technology to remove these barriers and make solar adoption easier—through AI/IoT-driven planning, smart monitoring, and flexible financing models that eliminate upfront costs, complex processes and make servicing absolutely seamless for residentials. Our goal is to make clean energy as accessible and reliable as any other essential service and bring transparency in the system.”

    QuantE’s solutions

    For Residential societies and households

    • AI powered analysis & energy profiling – Significantly reduces planning and downtime from weeks to hours
    • Innovative financing models – Easier adoption
    • IoT-enabled smart monitoring – Real-time performance tracking & predictive maintenance
    • Community Solar/EV/ESS models – Shared energy for apartments and gated communities
    • Digital onboarding & rapid deployment – Making complex processes smoother enabling faster execution

    Commenting on the announcement, Ujwal Sutaria, Founder and General Partner at TDV Partners said, “The solar market is expected to reach $60 billion by 2028, from $25 billion in 2023, highlighting the massive opportunity in this sector. QuantE’s focus on democratizing clean energy access aligns perfectly with India’s sustainability goals while addressing a genuine market need. The team’s deep understanding of distributed energy markets and their tech-first approach positions them well to capture this significant opportunity.”

    QuantE has already deployed successful pilot projects for 13 societies across Mumbai, Pune & Delhi NCR with its cloud-based platform and AI-driven diagnostics showing promising early results.

    The seed funding will support QuantE’s ambitious growth plans over the next 6-12 months, including expanding digital onboarding and going deeper in the top metros itself, launching community solar pilots, and strengthening financing partnerships with banks, NBFCs, and CSR programs. The company will also focus on building its proprietary solar+AI hardware/software stack for enhanced monitoring and optimization.

    The investment comes at a crucial time as India’s B2B solar market grows at 15-17% CAGR and the B2B2C segment expands at 18-20% CAGR through 2028. With government policies like PM-KUSUM and increasing corporate ESG commitments driving adoption, QuantE is positioned to capture significant market share in the fragmented distributed solar segment.

    While legacy players focusing primarily on large-scale projects, QuantE specifically targets India’s residential societies —representing a massive untapped opportunity. The founding team brings deep expertise in energy technology, digital platforms, and financial innovation, enabling a truly tech-first approach to market challenges.

    About QuantE

    QuantE Energy Tech Private Limited is a Noida-based cleantech company delivering advanced solar and clean energy solutions to residential households and communities across India. Its offerings include turnkey Energy as a Service solutions for Solar/EV/ESS,  Tech based O&M, flexible financing and IoT-powered energy analytics. Founded by Serial Cleantech Entrepreneurs Akshat Khare (with two successful exits) and Ankush Vashisht, QuantE’s mission is to democratize clean energy and accelerate India’s transition to 280 GW of solar capacity by 2030.

    About TDV Partners

    TDV Partners is a micro-VC firm backing early-stage startups led by visionary founders with a global outlook. Founded in 2021 by serial entrepreneur Ujwal Sutaria, TDV has built a portfolio of 36+ startups across emerging sectors, including consumer technology, spirituality tech, consumer AI, and lifestyle upgrades. With a founder-first approach, TDV provides hands-on support across go-to-market strategy, product-market fit, fundraising, and team building—from ideation to scale. The firm announced its second corpus of ₹50 crore in October 2024 to deepen its commitment to nurturing innovative tech-driven ventures from India. With one successful exit already under its belt, TDV is on a mission to back the next wave of trillion-dollar companies born out of India.

  • Men’s health tech startup RxMen raises INR 5 Crores in Seed round led by Inflection Point Ventures

    A Delhi based  Men’s health tech platform, , RxMen raises Rs. 5 crores in Seed round led by Inflection Point Ventures, one of India’s largest Angel investing platforms. With this funding, RxMen aims to achieve a positive EBITDA by October 2025. In addition, the funds will be used for brand building, launching RxMen-branded products and setting up co-branded clinics. The round also saw participation from SPA Family Ventures, Ankit Goel, Seven Square Ventures and received a grant from the Prosus Group.

    Over the last 20 months, RxMen has recorded a remarkable 100x revenue growth and is projecting an ARR (Annual Recurring Revenue) of $1.7 million by FY26, projecting an MRR (Monthly Recurring Revenue) of $70,000 in August 2025. The company has gained national visibility by being featured on Shark Tank India and earned credibility by receiving a grant from the prestigious Prosus Group (a global investment company known for backing high-growth startups).

    Vinay Bansal, Founder, IPV adds, “Often men’s issues related to sexual health, skin and hair are overlooked. Add to it the stigma of discussing such issues publicly makes it very difficult for Indian men to access good quality healthcare and get treatment for their problems. RxMen provides an all in one men’s health platform designed specifically for their needs which addresses these issues in a holistic manner. By offering solutions to challenges that are typically neglected and rarely spoken about, RxMen empowers men to normalize these issues and tackle them with confidence.”

    Shailja Mittal, Founder and CEO of RxMen said, “At RxMen, our focus has always been on building a clinical, root-cause platform for men’s health. This fundraise helps us strengthen that mission, expanding care beyond sexual health into stress, sleep, hair, skin, and weight, and continue creating a credible ecosystem where men can finally access the right treatment and support. 

    RxMen is founded by Shailja Mittal, a B.Tech graduate from Delhi College of Engineering and a second-time entrepreneur. Before starting RxMen, she founded Koala Kabs, India’s first women-driven cab service. She has been recognised with several honours, including BW 40 Under 40, the Digital Women Award, and a feature on Shark Tank India.

    RxMen has developed a proprietary Sexual Health Index (SHI), which is currently under clinical validation at IIT Jodhpur. They have used insights from more than 25,000 anonymized consultations to create the basis of the SHI. The scale was developed with the support of senior clinicians such as Dr. Siddharth Chowdhury and Dr. Anita Shyam and refined through real patient cases. RxMen also works with a network of more than 25 specialists, including urologists, sexologists, psychiatrists, and therapists, adding depth and credibility to its clinical practice. RxMen has achieved an impressive 95% success rate as reported by SHI (Sexual Health Index) outcomes tracking.

    RxMen is currently conducting over 6,000 consultations per month, supported by a team of more than 30 clinicians across urology, sexology, psychiatry, and therapy. Its patients come from Tier 1, Tier 2, and Tier 3 cities, reflecting a wide reach across India. Highlighting its popularity across diverse markets and a clear upward trajectory of growth.

    The global health and wellness market is estimated at USD 4.5 trillion with India’s health and wellness market industry valued at USD 155 billion as per the IMARC 2024 report. It is projected to grow up to nearly USD 257 billion by 2033, at a CAGR of 5.3%. RxMen estimates 25% of India’s health and wellness market is specific to men and is valued at approximately USD 39 billion. RxMen’s focus is on urban, digital-first Indian men between the ages of 25 and 45, a segment that represents close to 30 million people.

    About RxMen:

    RxMen, founded in 2023 by Shailja Mittal, is India’s first full-stack men’s health platform. We deliver root-cause, doctor-led care, starting with sexual health, and now expanding across sexual, mental, skin, hair and sleep, building the male equivalent of gynaecology.

    About Inflection Point Ventures:

    Inflection Point Ventures (IPV) is an angel investing platform with over 23,500+ CXOs, HNIs, and Professionals to together invest in startups. The firm supports new-age entrepreneurs by providing them with monetary & experiential capital and connecting them with a diverse group of investors. IPV has launched a $50 Mn CAT 2 VC fund, Physis Capital, to invest in Pre-Series A to Series B growth-stage start-ups. The fund has already deployed capital in six startups so far, with a few deals in advanced stages of pipeline.

     

  • Amazon Tightens Phone Policy: Employees Face Reduced Reimbursements for Personal Use

    According to a recent Business Insider investigation into the tech giant’s cost-cutting tactics, Amazon employees are now required to declare what proportion of their use of company-issued phones is connected to business, with their $50 monthly reimbursements being lowered proportionately depending on personal use.

    As firms trim their budgets after spending sprees during the pandemic, one of the most blatant manifestations of corporate penny-pinching is phone monitoring. According to the report, Amazon Web Services staff members must separate their personal and professional mobile usage, and the company will cut back on reimbursements for non-work-related use dollar for dollar.

    Jassy’s Broader Cost-Cutting Strategy

    Following his takeover from founder Jeff Bezos, CEO Andy Jassy has implemented a “hardcore culture reset” that includes the phone tracking. According to Business Insider’s report, Amazon has also adopted additional micromanagement strategies, such as asking store staff to itemise meal expenses and requesting permission for work trips by detailing expected goals and returns.

    Amazon is keeping a close eye on costs in all aspects of its business. During staff meetings, CEOs frequently stress the importance of being economical. Jassy asks staff members to consider, “What would I do if this was my money?” before making decisions.

    Changing Dynamics of America’s Corporate Sector

    This kind of detailed oversight is part of a larger trend in corporate America, where businesses are closely examining employee spending that was formerly managed by general policies. Although few have put usage-based payment schemes in place, Meta, Google, and Microsoft have all raised performance standards in a similar manner.

    According to Business Insider’s interview with Amazon employees, cost-cutting initiatives have “veered into micromanagement”, raising concerns about job security. Employees who consider company-provided devices as a routine perk of employment rather than a privilege that can be quantified are especially irritated by the phone monitoring.

    A representative for Amazon defended the regulations, stating that they are part of the business’s return to its “performance-driven and fast-paced” roots and that being economical has always been a fundamental company value.

    Amazon Closes Wondery Podcast Studio

    As part of a significant restructuring of its audio division, Amazon has shut down its Wondery podcast studio and laying off some 110 employees, according to Bloomberg News. In light of industry-wide difficulties, the move represents the tech giant’s strategic shift away from its initial podcasting goals.

    As current episodes are redistributed between Amazon’s Audible platform and a new “creator services” team devoted to personality-driven content, such as the well-liked Jason and Travis Kelce podcast, Wondery CEO Jen Sargent will also leave the firm. In an internal document seen by Bloomberg, Steve Boom, vice president of audio, Twitch, and games at Amazon, stated that the podcast industry has changed dramatically in recent years.

    The definition of what it means to be a podcast developer has also become more hazy due to the popularity of video. During the podcast boom in 2020, Wondery was acquired by Amazon for about $300 million, enabling it to function independently at first with its own membership app. But when the medium changed, the business found it difficult to successfully compete with sites like YouTube and Spotify.


    Quick
    Shots

    •$50
    monthly reimbursement will be cut proportionately for personal use of phones.

    •Part
    of CEO Andy Jassy’s broader “culture reset” and penny-pinching measures.

    •Staff
    asked to itemize meal expenses and justify work trips with goals/returns.

    •Mirrors
    tighter employee spending oversight at Google, Meta, and Microsoft.

     

  • Daily Indian Funding Roundup & Key News – 3rd September 2025: Seekho Raises $28M, StockGro Secures ₹50 Cr Venture Debt, Urban Company Eyes Bumper IPO Returns & More

    The Indian startup ecosystem witnessed a mix of sizable venture funding and strategic growth moves on 3rd September 2025. Edtech player Seekho led the day with a $28 million Series B round, followed by healthcare and fintech activity with PlatinumRx and StockGro raising fresh capital. Edgehax and WaterScience also secured early-stage funding to strengthen their market presence. Meanwhile, on the business front, Urban Company’s upcoming IPO promises multi-bagger returns for its early backers, Zomato revised its platform fee ahead of the festive season, Jio’s Haptik rolled out AI agents for SMBs, and OpenAI made a $1.1B acquisition to bolster its applications portfolio.

    Daily Indian Funding Roundup – 3rd September 2025

    Company Amount Round Lead investor(s) Sector
    Seekho $28 Mn Series B Bessemer Venture Partners (with Goodwater, Lightspeed, Elevation) Learning / EdTech (short-form learning)
    Edgehax ₹1.39 Cr Seed Inflection Point Ventures (IPV) Edge AI hardware
    PlatinumRx $6 Mn Funding round Stellaris Venture Partners (with India Quotient) Healthcare / Online Pharmacy
    StockGro ₹50 Cr Venture Debt Trifecta Capital Funds Fintech / Social investing
    WaterScience ₹1.4 Cr Funding Velocity (Peter Thiel-backed) D2C non-drinking water filtration

    Seekho raised $28 million in Series B

    Bengaluru-based short-form learning platform Seekho secured $28 million in a Series B funding round led by Bessemer Venture Partners, with participation from Goodwater Capital, Lightspeed Venture Partners, and Elevation Capital. The investment is set to fuel Seekho’s growth, bolster product development, and expand its reach in the competitive edtech landscape.

    Edgehax raised ₹1.39 crore in Seed round

    Edgehax, an Edge AI hardware startup, raised ₹1.39 crore in a Seed round led by Inflection Point Ventures (IPV). The funds will be directed toward scaling manufacturing, accelerating product development, and extending market access across India, Singapore, the US, and Europe.

    PlatinumRx raised $6 million in funding round

    Bengaluru-based online pharmacy PlatinumRx secured $6 million in a funding round led by Stellaris Venture Partners, with participation from existing investor India Quotient. The infusion will support operational scaling, expansion of fulfillment centers, and growth of its product and tech teams.

    StockGro raised ₹50 crore in venture debt

    StockGro, a Bengaluru-based social investment platform, raised ₹50 crore in venture debt from Trifecta Capital Funds. This financing comes as StockGro expands its product suite, including the recent launch of “Stoxo,” an AI-powered stock market research engine for retail investors. The venture debt issuance was approved at the extraordinary general meeting on September 2, 2025.

    WaterScience raised ₹1.4 crore in funding

    D2C brand WaterScience, which offers non-drinking water filtration products, raised ₹1.4 crore in funding from Velocity, a growth capital platform backed by Peter Thiel’s Valar Ventures. The startup plans to use the funds to accelerate growth, strengthen brand marketing, and expand into new product categories, positioning itself as a comprehensive water solutions provider for Indian homes.

    Key Business News for 3rd September 2025

    Urban Company early investors eye bumper returns on Dalal Street

    Early backers—including Accel and Elevation Capital—are poised to reap significant gains from Urban Company’s upcoming ₹1,900 crore IPO. Returns on some early investments are expected to range between 2× and as high as 29×, reflecting the company’s stellar growth since inception.

    Zomato hikes platform fee ahead of festive season rush

    Online food delivery giant Zomato has raised its per-order platform fee from ₹10 to ₹12 (excluding GST) to strengthen margins during the festive season. The move mirrors a similar increase by Swiggy, as both companies adapt to soaring order volumes.

    Jio’s Haptik introduces Rs 10,000 AI agents for SMBs via WhatsApp

    Reliance Jio’s conversational AI arm Haptik has launched its “AI for All” initiative through the Interakt platform, enabling small and medium businesses to deploy advanced WhatsApp and Voice AI agents starting at ₹10,000. These AI agents — backed by Haptik’s Agentic AI — handle inquiries, bookings, lead qualification, and more, aiming to bring enterprise-grade automation to SMBs.

    OpenAI acquires product-testing startup Statsig for ~$1.1B, appoints new CTO of apps

    OpenAI has acquired product experimentation startup Statsig in an all-stock transaction valued at approximately $1.1 billion, based on OpenAI’s $300 billion valuation. As part of the deal, Statsig’s founder and CEO, Vijaye Raji, will become OpenAI’s Chief Technology Officer of Applications, overseeing product engineering for tools like ChatGPT and Codex.

    Daily Indian Funding Roundup and Key News: 2nd September 2025
    Tuco Kids raising $4M, Offgrid Energy Labs securing $15M, LeafyBus expanding with $4.1M, and CityMall bagging $47M. Here’s your quick roundup for top funding deals and key business news in India on 2nd September 2025.
    StartupTalkyStartupTalky News

  • FirstClub Raises $23M Series A to Transform India’s Quick Commerce with a Quality-First Approach

    India’s only quality-first quick commerce platform FirstClub Technology Pvt. Ltd., today announced it has raised $23 million in Series A funding. The round is led by returning investors Accel and RTP Global, with participation from Blume Founders Fund, 2am VC, Paramark Ventures and Aditya Birla Ventures. The funding raise, closed within just three months of launch, values the company at ₹1050 crores ($120Mn USD).

    FirstClub is reimagining how discerning Indian households shop for everyday essentials by putting product quality, ingredient transparency, and consumer well-being ahead of transaction scale. Unlike conventional quick-commerce players, the platform has already banned over 200 harmful additives, independently tests staples like milk, ghee, and oils, and curates only those brands that meet the highest global standards. Similar to Costco’s model of delivering high-quality products at consistently fair prices, FirstClub tailors this approach for India through a curated philosophy, by working with brands and manufacturers to deliver high-quality, affordable products. This selection helps consumers avoid choice fatigue and makes everyday shopping simpler, so families can buy with confidence and peace of mind.

    Since its Bengaluru launch in June 2025, FirstClub has expanded to four “clubhouses” (its dark stores) in the city, onboarded 4,000+ curated SKUs from marquee brands across packaged foods, fresh produce, bakery, dairy, and nutrition, built a 185-member team, and a robust in-house supply chain and tech stack. FirstClub is expanding rapidly, with more clubhouses set to open in the next eight weeks, on track to service all of Bengaluru before Diwali.“Quick commerce today is built for speed, not standards. At FirstClub, we’re changing that. Every product on our platform is tested, tasted, and vetted end to end—so when it comes to food, there are no compromises. We deliver everyday essentials that are not just fast, but products you can trust, accessible and affordable for every Indian household that refuses to compromise on quality. Our early momentum — with 2x average order values versus any other platform in the category, 60% exclusive products, and high repeat rates — shows that India is ready for a new standard in retail.” said Ayyappan R, Founder & CEO of FirstClub.

    The fresh capital will fuel expansion with 35 new clubhouses in the next six months, alongside the launch of multiple fulfilment formats such as cafés and daily subscriptions. FirstClub will also expand into new categories, including kids’ food, pet food, nutraceuticals, home care, gifting, and furnishings, curated through strategic partnerships with Indian and global brands. Hiring will accelerate across engineering, operations, category, and marketing, with a focus on young, just out of campus talent, who are eager to shape the future of quality commerce in India.

    “India’s next wave of commerce will not be defined by speed alone, but by the assurance of quality and trust. Consumers are becoming increasingly discerning about what enters their homes, and that shift creates a massive opportunity to reimagine everyday retail. FirstClub has demonstrated rare early product-market fit within just three months of launch, building a full-stack platform with category ownership, operational discipline, and strong consumer love,” said Barath Shankar Subramanian, Partner at Accel. “At Accel, we believe the future of commerce lies with platforms that pair speed with uncompromising standards, built on a deep understanding of evolving consumer behaviour and FirstClub is leading that movement from day one.”

    Nishit Garg, Partner at RTP Global said, “In a world of overwhelming product choices and confusing ingredient labels, FirstClub is closing the trust gap for Indian consumers. Ayyappan’s leadership, deep operator experience, market and category understanding are evident in the way the team has achieved early operational excellence and strong consumer love within just months of launch. We are excited to deepen and continue our partnership.”Chunsoo Kim, Managing Partner, Paramark Ventures said, “India’s consumption landscape is changing faster than ever, with the introduction of quick commerce just a few years ago. However, consumer expectations are now rising even faster — demanding higher-quality products, not just reliable delivery of everyday essentials. FirstClub is at the forefront of this shift — making trusted products accessible at scale. This requires a different mindset, new infrastructure, and entrepreneurial rigor — all of which FirstClub has demonstrated early in their journey. We are excited to back their vision and be part of this journey.”

    “We’re truly grateful for our investors’ support as we build FirstClub for a new India — where households deserve better quality, better taste, and no compromises. By making trusted essentials accessible within 30 minutes, we’re proving that everyday convenience can go hand in hand with uncompromising standards,” said Ayyappan.

    About FirstClub

    Founded by Ayyappan R, a seasoned leader with extensive experience as Senior VP at Flipkart, CEO of Cleartrip, and previously CBO at Myntra, FirstClub Technology Pvt. Ltd. is a quality, member-first platform designed to transform India’s quick commerce and the shopping experience for consumers. 

    Previously, FirstClub has raised an $8M seed round led by Accel, with participation from RTP Global, Blume Founders Fund, Quiet Capital, 2am VC and prominent angel investors including Binny Bansal (Flipkart), Kunal Shah (CRED), Mukesh Bansal (Myntra, Cult), Lalit Keshre (Groww), Ankit Nagori (Eatfit), and  Shrenik Ghodawat (Sanjay Ghodawat Group). 

  • After Raising $13B in Funds, What’s Next for Anthropic?

    Anthropic hits a new milestone. The company has raised an impressive $13 billion in new funding. This is huge for Anthropic, especially as many tech giants compete to be the ‘it’ AI company, the next big thing in AI. This fundraising is a Series F round, meaning it’s their sixth major round of funding. Post-money, Anthropic’s valuation reached $183 billion. With this influx of investors, Anthropic is now one of the world’s most valuable AI companies. Is this move a game-changer for Anthropic? What is it planning next? Learn more? 

    Who Invested in Anthropic?

    A long list of big investors in tech pooled money into Anthropic:

    • Financial firms like BlackRock, Blackstone, Goldman Sachs, and T. Rowe Price.
    • Big Global Investors like Qatar Investment Authority, GIC (Singapore’s sovereign wealth fund).
    • Venture capital firms like Altimeter, General Catalyst, Coatue, Insight Partners, and Lightspeed.
    • Pension funds like the Ontario Teachers’ Pension Plan.
    • And some others like Jane Street, D1 Capital, WCM, XN.

    Why Are They Investing in Anthropic?

    AI is the new today and our very tomorrow. The demand for AI is only going to grow. And according to Anthropic’s CFO, Krishna Rao, several companies (from Fortune 500 companies to AI-first startups) are already incorporating Claude (Anthropic’s version of ChatGPT) in their work, meaning the company is seeing good traction. With this investment, Krishna Rao is confident that Anthropic’s traction will grow faster. 

    How Fast Is Anthropic Growing?

    • Anthropic launched its Claude (their version of ChatGPT) in March 2023.
    • In early 2025, the company’s revenue surpassed $1 billion.
    • Fast forward to August 2025, and that number went up to a whopping $5 billion in eight months.

    What’s Driving This Big Growth For Anthropic?

    • Talent + Research → Anthropic focused on having the top researchers on board to work on AI safety, alignment, and interpretability.
    • Businesses → Anthropic works with 300,000 companies (who use Claude). Some large accounts pay over $100,000 each year. These numbers have grown 7x in the past year, showing how businesses across the world trust the company and its products.
    • Focus on Developers → Anthropic introduced the Claude Code tool in May 2025. In just 3 months of its launch, the tool generated a sum of $500M with, and usage is growing 10x every month.
    • Growing Individual Users → Not just businesses and developers, but also the regular everyday users, too, are opting for Pro and Max plans.

    What Will Anthropic Do With This $13B?

    According to the article posted as announcements on Anthropic, the company will use the funds:

    • To meet the growing business demands.
    • To deepen AI safety research, remember how the hackers were using Claude as a teacher to steal data and threaten the companies?
    • To go international to reach wider audiences.
    • To build more AI systems that are safe, explainable, and controllable. With Anthropic reaching such a milestone, it will be interesting to see how its competitors respond. 

  • OpenAI Acquires Statsig, Names Indian-Origin Vijaye Raji as CTO of Apps

    Statsig, a product testing business, has been bought by OpenAI. Vijaye Raji, the startup’s Indian-origin founder and CEO, has also been named the new Chief Technology Officer (CTO) of apps by the Microsoft-backed artificial intelligence (AI) business. Raji will handle key systems, infrastructure, and product lines in his new position as product engineer for ChatGPT and Codex.

    Who is Vijaye Raji? Indian-Origin CTO of Apps

    Raji’s background as a founder and his ten years as the head of consumer engineering at Meta, the company claims, will help OpenAI grow its business and transform its research into “intuitive, safe, and useful tools”. He will answer directly to OpenAI’s CEO of apps, Fidji Simo. Statsig is a platform that offers real-time decision-making, feature flagging, and A/B testing. Raji and his colleagues founded Statsig with an emphasis on data-driven product development and quick testing.

    Company to Operate Independently at its Seattle Office

    OpenAI will hire Statsig staff after the acquisition. The business will continue to serve its current clientele and run autonomously out of its Seattle headquarters. To ensure continuity for clients, any upcoming integration would be handled gradually. Regulatory approval and other standard closing requirements apply to the purchase.

    OpenAI already uses Statsig’s platform to facilitate experimentation and product development. It is anticipated that bringing it in-house will increase these capabilities throughout OpenAI’s Applications organisation.

    Statements from Fidji Simo and Vijaye Raji

    “Vijaye has a remarkable record of building new consumer and B2B products and systems at scale,” Simo wrote in a blog post discussing Raji’s appointment. “His leadership will help transform that advancement into safe applications that give people a variety of new tools to improve their lives, help businesses become more influential, and enable developers to create faster and better products. He is joining at a time when our models are opening up completely new ways to build.” Simo added.

    “Being the CTO of Applications at OpenAI is a fantastic opportunity for me to apply my experience building consumer and corporate products to a cause I firmly believe in: developing AI in ways that are dependable, capable of tackling challenging issues, and genuinely helpful to people everywhere. I’ve had a really fulfilling career with Statsig, which has brought me to this point and strengthened my belief that we will keep assisting teams in producing better software every day,” Raji stated.


    Quick
    Shots

    •Vijaye
    Raji, Statsig’s Indian-origin founder & CEO, named CTO of Apps at OpenAI.

    •Raji
    to oversee ChatGPT, Codex and app product engineering, reporting to Fidji
    Simo.

    •Raji
    was Head of Consumer Engineering at Meta for 10+ years before founding
    Statsig.

    •Statsig
    offers feature flagging, A/B testing & real-time decision-making tools
    for product development.

    •The
    startup will operate independently from its Seattle HQ while continuing to
    serve existing clients.

    •Statsig
    staff to join OpenAI, with gradual integration to maintain client continuity.

     

  • Urban Company IPO Opens on September 10: Price Band, Dates, GMP, and Key Investor Details

    The promoters of Urban Company and notable investors like Accel India, Elevation Capital, Bessemer India, VY Capital, and Tiger Global have seen a significant increase in the value of their holdings since the company revealed that the price range for its next public offering would be INR 98–103 per share. Opening on 10 September and closing on 12 September, the IPO aims to raise around INR 1,900 crore.

    Promoter and Investor Gains

    Around 9.77 crore shares, purchased at minimal cost, are held by promoters Abhiraj Singh Bhal, Chairperson, Managing Director, and Chief Executive Officer; Raghav Chandra, Executive Director, and Chief Technology and Product Officer; and Varun Khaitan, Executive Director, and Chief Operating Officer. Their respective holdings are now worth little more than INR 1,000 crore apiece, a more than 10,000-fold increase in value.

    Private Equity Investors to Reap Gains

    Accel India IV, which holds 14.52 lakh shares that were bought at an average price of INR 3.77, has seen the value of its holding increase from INR 55 crore to approximately INR 1,500 crore, a huge gain of more than 26 times. Private equity investors are also expected to make significant returns.

    With 9.47 crore shares purchased at INR 7.14, Bessemer India Capital Holdings has increased its investment by approximately 13 times, from INR 68 crore to INR 976 crore. Formerly SAIF Partners, Elevation Capital now owns 15.9 crore shares that were purchased at INR 5.39, increasing in value by roughly 18 times from INR 85.7 crore to INR 1,638 crore.

    The value of the stake has increased by 67%, from INR 375 crore to Rs 627 crore, after Internet Fund bought 6.08 crore shares at INR 61.65. With 13.46 lakh shares purchased at INR 20.40, VYC11 has seen a 400% increase in value, going from INR 275 crore to INR 1,386 crore.

    Urban Company’s Business Model & Expansion

    The largest tech-enabled home services marketplace in India was established in 2014 and is based in Gurugram. It operates in 51 locations around India, the United Arab Emirates, and Singapore.

    Cleaning, pest control, plumbing, electrical work, beauty and wellness services, and appliance repair are all included in Urban Company’s repertoire. Under its “Native” brand, the company has expanded into residential solutions during the last two years, launching items like electronic door locks and water purifiers.

    The IPO’s proceeds will be used for marketing costs, office lease payments, cloud and technology infrastructure, and other general business needs. In the quarter that ended in June 2025, Urban Company reported a net profit of INR 6.9 crore, which was 45% less than the INR 12.6 crore it made in the same quarter the previous year.

    A joint venture loss of INR 8.6 crore, poor operating metrics, and increased expenses were the causes of the decline. EBITDA loss increased to INR 4.8 crore from INR 3.36 crore, while revenue increased 30.8% year over year to INR 367.3 crore from INR 280.9 crore.


    Quick Shots

    •IPO
    seeks to raise around INR 1,900 crore.

    •Each
    founder’s stake now worth over INR 1,000 crore, marking a 10,000x+ gain.

    •IPO
    proceeds to be used for marketing, office leases, cloud infrastructure, and
    general expenses.

    •Q1
    FY26 results: Net profit down 45% YoY to INR 6.9 crore due to JV losses, weak
    metrics & higher costs; revenue up 30.8% YoY to INR 367.3 crore.