Rebound in funding activity; The sisters behind train app Yatri

Hello,

Elon Musk’s SpaceX has successfully completed the 12th uncrewed test flight of its next-generation Starship rocket. Releasing a payload of mock satellites, the much-anticipated trial run of the upgraded V3 iteration culminated in a splashdown in the Indian Ocean. 

After months of testing delays, the key milestone is expected to boost investor confidence as the company gears up for an IPO next month. 

Moving on, Stephen Hawking—the pioneer of black hole theory and the author of the  bestselling book A Brief History of Time—may have given his father some anxious moments as a youngster. 

During his days as a student and as he neared adulthood, his father was worried that his son did not study much and showed little initiative, extracts from diaries show. 

Lastly, here’s something to think about this weekend. Where’s the ‘social’ in social media? 

A few years ago, social media platforms were used by friends to interact with each other. People were keen to react to posts by friends or check out friends’ comments on their posts. But now it’s all about scrolling through short videos made by content creators most people don’t even know.  

Today what dominates social media feeds is fads, not friends. This feature by BBC captures how social media has ceased to be social. 

In today’s newsletter, we will talk about 

• Rebound in funding activity 
• The sisters behind train app Yatri

Here’s your trivia for today: Which city was known as and almost permanently named ‘Batmania’?

VC inflow

Rebound in funding activity 

India’s startup funding market saw a sharp pickup between May 16 and May 22, with ventures collectively raising nearly $124.4 million across 15 disclosed deals, driven largely by late-stage fintech and financial services bets.

The week’s funding activity marks a noticeable rebound from the subdued deal environment seen through much of early 2026, even as investors continued to favour companies with clearer monetisation models and operational traction over speculative growth plays. 

Key takeaways: 

• The total VC funding amount raised during last week was higher at $323 million from 22 transactions, an anomaly in recent times.
• Financial services startups dominated the funding charts. Scapia emerged as the week’s largest fundraiser after securing $63 million in a Series C round. Another major cheque went to Solfin, which raised about $29 million. 
• The funding momentum suggests that while India’s venture market remains far from the exuberance of the 2021 boom years, investors are gradually returning to sectors tied to financial infrastructure, consumer essentials, and industrial technology.

ICYMI

The sisters behind train app Yatri

Lakhi Sakaria Chowdhary and Reeva Sakaria have developed Yatri, the official app of Mumbai’s local train network, in partnership with Indian Railways. It offers real-time train tracking using source-verified GPS data, with live updates on locations, delays, platform changes, and disruptions.

Key takeaways: 

• At the core of Yatri is real-time local train tracking, powered by proprietary GPS devices installed across the network and fed directly from railway control rooms, so the information is source-verified and not crowdsourced. 
• Commuters get live train locations, real-time delay alerts, platform change notifications, and disruption updates the moment they happen. 
• Beyond real-time tracking, Yatri offers comprehensive schedule-based information across every major public transport mode in the city, including metro, monorail, buses, and ferries. So, whether a commuter is planning or navigating on the go, everything they need is in one place. 

News & updates

• Bilateral talks: US Secretary of State Marco Rubio, as part of a four-day visit to India, had talks with Indian Prime Minister Narendra Modi in New Delhi. They are said to have discussed issues related to regional and global peace and security. 
• Key market: Nvidia CEO Jensen Huang has said that his forecast of a $200-billion market for CPUs includes ​China, signalling that the chip giant still sees significant long-term demand in the market ‌amid ongoing US-China technology tensions.
• Consumer sentiment: US consumer sentiment fell to a record low in May as surging gasoline prices linked to the Iran war intensified affordability concerns. 

Which city was known as and almost permanently named ‘Batmania’?

Answer: Melbourne

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