Sarvam AI turns unicorn; Razorpay confidentially files IPO papers

Hello,

Artificial intelligence startup Sarvam AI has raised $234 million in the first close of its Series B funding round, marking one of the largest funding rounds for an Indian AI company to date and propelling the company into the unicorn club. 

The investment values the company at $1.5 billion and is led by HCLTech, one of India’s largest technology services firms, alongside global venture capital investor Bessemer Venture Partners. Existing backers Khosla Ventures and Peak XV Partners also participated in the round. The funding comes at a time when India is seeking to strengthen its domestic AI capabilities amid a global race to build advanced AI systems.

In other news, concerns over the impact of social media on children’s mental health and online safety are prompting governments worldwide to tighten regulations on tech platforms. On Monday, UK Prime Minister Keir Starmer announced plans to ban social media platforms from offering services to users under 16. 

The proposed rules, which could take effect as early as spring 2027, may apply to platforms including Snapchat, TikTok, YouTube, Instagram, Facebook, and X. The UK also plans to restrict features such as livestreaming and communication with strangers for minors, while considering additional safeguards including overnight curfews and limits on infinite scrolling.

While policymakers grapple with the societal impact of technology, the industry's biggest companies continue to push the boundaries of scale and ambition. Elon Musk said his rocket company, SpaceX, could bring ​in $1 trillion in revenue by 2030, ‌making the statement two days after the company went public, valuing it at over $2 trillion. SpaceX on Friday became the sixth-largest US firm, cementing Musk’s status as the world's first ​trillionaire.

Back home, fintech firm Razorpay has taken a step towards its public market debut, confidentially filing draft IPO papers with market regulator Sebi. According to people familiar with the matter, the issue size is expected to be in the range of Rs 5,000–6,000 crore, making it one of the most closely watched startup listings in India.

In today’s newsletter, we will talk about 

• Badminton star Aparna Popat on life beyond the court
• India’s marketers are leading AI adoption: BCG

Here’s your trivia for today: Mozilla Firefox originally launched under what name?

Sports

Badminton star Aparna Popat on life beyond the court

For nearly a decade, Aparna Popat was the face of Indian women’s badminton, dominating the national circuit while helping lay the foundation for the sport’s rise in the country. A nine-time consecutive national champion, Olympian, and one of India’s earliest global badminton trailblazers, Popat built her career in an era with limited funding, exposure, and support systems. In a conversation, she reflects on the mindset behind sustained excellence, the lessons sport taught her about leadership and resilience, and why competition, confidence, and claiming one’s space remain critical for women aspiring to lead—in sport, business, and beyond.

Key takeaways: 

• Popat attributes her dominance not to talent alone, but to the cumulative effect of daily choices—how she trained, prepared, and maintained standards over nearly two decades of competition.
• Rather than viewing expectations as stress, she saw them as opportunities to perform. Her focus was always on meeting her own standards, not external expectations.
• From competing for visibility in a male-dominated environment to serving on corporate boards today, Popat believes sport builds confidence, accountability, and the ability to make decisions—qualities that translate directly into leadership.

News

India’s marketers are leading AI adoption: BCG

Indian CMOs are emerging as some of the most bullish AI adopters globally, with many taking ownership of AI investments and driving transformation initiatives across their organisations, according to a new BCG report. The survey highlights India's strong belief in AI's revenue potential, growing interest in agentic commerce, and increasing role of marketing leaders in shaping business strategy through technology and data.

Key takeaways: 

• More than half expect AI initiatives to generate 5%-9% additional revenue growth, the highest among markets surveyed by BCG.
• Indian CMOs are increasingly responsible for AI investments and are playing a broader role in digital transformation, customer experience, and growth strategy.
• Nearly three-fourths of Indian CMOs rank agentic commerce among their top priorities, while concerns about AI talent shortages are lower than the global average, reflecting growing confidence in the country's AI workforce.

News & updates

• Streaming: Fox has agreed to acquire Roku in a deal valued at about $22 billion. Roku was among the first companies to bring streaming services such as Netflix and YouTube to televisions through connected devices and smart TVs.
• Oil prices: Oil prices fell and markets rose after the U.S. and Iran agreed on a framework to end the conflict, with President Donald Trump saying the deal would reopen the Strait of Hormuz. Brent crude dropped 4.7% to $83.24 a barrel, while Asian and European stocks gained on hopes of easing tensions.

Mozilla Firefox originally launched under what name?

Answer: Mozilla Phoenix

We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail [email protected]. 

If you don’t already get this newsletter in your inbox, sign up here. For past editions of the YourStory Buzz, you can check our Daily Capsule page here.