Startup news and updates: Daily roundup (July 22, 2026)

YourStory brings you today’s headlines with the latest developments across sectors.

Funding news

Bioscan Research raises $1M in seed round

Medtech startup Bioscan Research has raised $1 million in a seed funding round led by Unicorn India Ventures to scale its non-invasive brain injury detection technology.

The startup said the capital will be used to expand into new markets, secure additional regulatory approvals, upgrade its flagship product, and develop new intellectual property.

Founded in 2017 by Anupam Lavania and Shilpa Malik, Bioscan Research develops affordable medical devices that combine optics, electronics, mechanics, software, and machine learning to enable the early detection of traumatic brain injuries. Its flagship product, CEREBO, uses near-infrared spectroscopy (NIRS) and artificial intelligence to help detect intracranial injuries, even in patients who show no visible symptoms, enabling clinicians to intervene during the critical treatment window.

Other news

EduFund launches Vittam for MFDs and IFAs

EduFund has launched Vittam, a financial distribution platform designed for mutual fund sistributors and independent financial advisors.

Co-founded by Eela Dubey and Arindam Sengupta, with the mission of helping Indian families save and plan for their children's education, EduFund has, over the past six-and-a-half years, evolved into a comprehensive financial platform serving more than 300,000 families.

As households move through different life stages, their financial priorities expand beyond education to include investments, loans, insurance, retirement planning, and global opportunities.

Through Vittam, EduFund aims to equip MFDs and IFAs with an integrated platform that enables them to guide families across these evolving financial needs, while offering a suite of solutions that supports every stage of their financial journey.

Social Alpha launches clean energy acceleration programme

Social Alpha has launched Techtonic: Innovations in Clean Energy, a 12-month acceleration programme to support science-led startups developing solutions in energy access, energy storage, and energy efficiency.

The initiative, launched in partnership with Atal Innovation Mission, NITI Aayog, SELCO Foundation, Tata Power, Jakson Green, and Sagacity, will provide selected startups with grant funding, incubation support, pilot opportunities, market access, and potential seed investment, subject to due diligence.

The programme will support startups across different stages of growth. Early-stage ventures at the R&D stage (Technology Readiness Levels 3-4) can receive incubation support of up to Rs 10 lakh to advance prototype development, while growth-stage startups (TRL 7-9) will be eligible for support of up to Rs 60 lakh to accelerate commercial deployment, expand into new markets, and strengthen their business models.

Groww Foundation backs 35 young innovators at IIT Bombay

Groww Foundation, the philanthropic arm of Groww, has announced the inaugural cohort of its INV.ENT programme, selecting 19 ideas from 35 student innovators at the Indian Institute of Technology (IIT) Bombay. Chosen from nearly 400 submissions, the projects span AI, climate tech, robotics, defence, assistive technology, and social innovation.

Among the selected ideas are a digital marketplace connecting Dharavi's pottery artisans with customers, a wearable sleeve that guides physiotherapy patients through rehabilitation exercises, a platform that converts carbon dioxide into edible protein, and an AI-powered system designed to protect critical infrastructure from rogue drones.

The first cohort is divided into two tracks. Three student teams have been named Grand Challenge Fellows and are eligible for milestone-based funding of up to Rs 25 lakh annually. The remaining 16 teams will receive proof-of-concept grants of Rs 30,000 each to validate and develop their ideas.

Beyond funding, participants will gain access to mentorship and the 15,000 sq ft Groww Innovation Space at IIT Bombay's Desai Sethi School of Entrepreneurship (DSSE).

Grahaa Space completes Mission SIDDHI

Spacetech startup Grahaa Space has announced the successful completion of Mission SIDDHI, with its technology demonstration nanosatellite SOLARAS achieving all planned objectives in low Earth orbit (LEO).

The satellite successfully transmitted telemetry signals confirming the health of its onboard systems. The signals were received and verified by the SSPACE-Tarang ground station at the Indian Institute of Space Science and Technology (IIST), Thiruvananthapuram, while multiple amateur ground stations worldwide also tracked and received the transmissions across successive orbital passes.

Mission SIDDHI validated Grahaa Space's indigenously developed, stackable nanosatellite bus and platform, along with its onboard systems and subsystems, under real-world space conditions. The satellite also successfully transmitted payload data, marking a key milestone in the company's efforts to build reliable and scalable Earth observation nanosatellite technologies.

IIT Madras to host Digital India RISC-V Symposium 2026 on semiconductor innovation

The Indian Institute of Technology (IIT) Madras, in partnership with the Ministry of Electronics and Information Technology (MeitY) and RISC-V International, will host the third Digital India RISC-V (DIR-V) Symposium 2026 on August 1-2 at the IIT Madras Research Park in Chennai.

Centred on the theme "Empowering Bharat's Semiconductor Future," the symposium aims to bring together policymakers, researchers, startups, industry leaders, investors, faculty members, and students to accelerate India's ambitions of becoming a global hub for semiconductor design, electronics manufacturing, and secure digital infrastructure.

The event will focus on indigenous processor technologies, secure computing systems, hardware innovation, artificial intelligence, and the rapidly expanding RISC-V ecosystem.

Kobie opens AI-focused tech hub in Bengaluru

Loyalty technology company Kobie has launched a new technology hub in Bengaluru to strengthen its AI-led product strategy and support global business growth. The India team has expanded to around 50 professionals and is hiring across software engineering, data science, cloud engineering, AI engineering, MLOps, AI governance and product development.

The company said artificial intelligence is now integrated across every layer of its technology organisation, enabling it to develop intelligent loyalty solutions for Fortune 500 clients. The Bengaluru hub will drive innovation in personalised customer engagement, predictive analytics and loyalty measurement while embedding governance, security and ethical AI practices into product development. Kobie said the investment will help clients improve customer loyalty and long-term enterprise value.

Citizens Financial appoints Rajesh Mani to lead India GCC

Citizens Financial Group has appointed Rajesh Mani as Managing Director of its India Global Capability Center (CFG India). Mani brings over two decades of experience in financial services and technology, most recently serving as Head of Asia Pacific Tech Hubs at Mastercard, where he led globally distributed technology teams. In his new role, he will oversee the expansion of CFG India by strengthening talent, enhancing organisational capabilities and driving closer collaboration with Citizens teams in the United States and global technology partners.

Citizens said its India GCC plays a critical role in advancing the bank's long-term strategy of building a more modern, resilient and technology-driven financial institution serving millions of customers across the US.

Plant.Digital partners Quest Global for industrial AI solutions

Plant.Digital has partnered with engineering services company Quest Global to accelerate the deployment of industrial digital solutions aimed at improving asset performance, operational efficiency and reliability. The collaboration will combine Plant.Digital's industrial expertise with Quest Global's engineering and digital transformation capabilities to deliver faster value for clients across the global energy sector. The companies will also support Saudi Arabia's Vision 2030 by developing local talent, competency frameworks and long-term digital capabilities within the Kingdom. As the partnership expands across assets and regions, both firms plan to develop AI-enabled solutions that improve decision-making, enhance asset reliability and reduce carbon emissions through greater energy efficiency and smarter industrial operations.

GoTrust adds AI capabilities to data security platform

Privacy, security, and governance platform GoTrust has enhanced its Data Discovery & Smart Classification Solution with artificial intelligence capabilities to help enterprises identify, classify and manage sensitive data more efficiently. The upgraded solution supports over 30 enterprise connectors spanning databases, cloud platforms, CRM systems, data lakes and machine learning environments, enabling organisations to maintain a unified view of sensitive information. GoTrust said the AI-powered platform uses machine learning and natural language processing to identify personal, financial, health and biometric data while reducing manual effort and compliance costs. The enhancements are designed to help enterprises strengthen data security and comply with regulations such as India's Digital Personal Data Protection Act (DPDPA), GDPR and other global privacy frameworks.

Smartworks posts 44% revenue growth in Q1 FY27

Managed office space provider Smartworks Coworking Spaces reported a 44% year-on-year increase in revenue from operations to ₹546 crore for the quarter ended June 30, 2026, while normalised EBITDA rose 74% to ₹107 crore. Normalised profit after tax nearly tripled to ₹39 crore from ₹13 crore a year earlier, while reported PAT stood at ₹13 crore. The company said it recorded its fifth consecutive quarter of sequential revenue growth since listing, with EBITDA margin improving to 19.6%. Annualised normalised return on capital employed rose to 21.5% despite higher investment capex. Smartworks reiterated its FY27 guidance of 28-30% revenue growth, 19-20% EBITDA margin and an operational footprint of 12.5-13 million sq. ft. by March 2027.

Merlinhawk Aerospace partners with Boeing India Defence

Bengaluru-based Merlinhawk Aerospace has signed a strategic agreement with Boeing India Defence to provide in-country sustainment support for advanced Electro-Optical/Infrared (EO/IR) systems deployed on defence platforms in India. Under the partnership, Merlinhawk will leverage its L3Harris WESCAM Authorized Service Centre in Bengaluru to deliver maintenance, repair, technical support and lifecycle sustainment services. The collaboration aims to reduce turnaround times, improve operational availability and strengthen mission readiness for Indian defence customers. Merlinhawk said its dedicated WESCAM service centre is equipped with certified technical personnel, specialised tooling, OEM-approved processes and field support capabilities, enabling comprehensive local support for advanced airborne mission systems used by defence platforms.

Procol appoints Shaivya Gupta as Chief Marketing Officer

Agentic AI platform Procol has appointed Shaivya Gupta as its Chief Marketing Officer to lead global marketing, brand and communications. Gupta will focus on strengthening Procol's market positioning, customer engagement and category leadership while supporting expansion into international markets, particularly the United States. The appointment comes as the procurement and finance technology company targets 300% growth over the next year after expanding fivefold during the past two years. Procol said its growth strategy will be driven by increasing enterprise adoption in India and the US, supported by investments in customer success, strategic partnerships and demand generation initiatives aimed at strengthening its presence in key enterprise markets.

VNR VJIET secures patent for AI-based crop disease detection system

Hyderabad's VNR Vignana Jyothi Institute of Engineering & Technology has received an Indian patent for an AI-powered crop disease detection system that uses Convolutional Neural Networks (CNNs) to identify diseases in plant leaves. Developed by a multidisciplinary faculty team, the technology enables early detection of crop diseases with an accuracy of 97.7%, allowing farmers to take timely corrective action and minimise crop losses. The system analyses leaf images and recommends suitable pesticide-based remedies, supporting precision agriculture and improving productivity. The institute said the innovation addresses delayed disease identification, a major challenge affecting crop quality, yield and overall farm output across agricultural regions.

NABARD, MAHAPREIT sign MoU for green rural infrastructure

NABARD and Mahatma Phule Renewable Energy and Infrastructure Technology Ltd (MAHAPREIT) have signed a memorandum of understanding to promote climate-resilient and sustainable infrastructure across rural India, with an initial focus on Maharashtra. The partnership will finance projects in green energy, decarbonisation of government buildings, gram panchayat infrastructure, water pumping schemes and renewable energy deployment in educational and healthcare institutions.

The collaboration also aims to support biogas generation, biomass utilisation and solar-powered micro cold storage facilities, creating additional income opportunities for farmers while promoting the circular economy. The organisations said the initiative combines NABARD's expertise in rural finance with MAHAPREIT's experience in climate-focused infrastructure development.

Benevolve launches AI-powered workforce skills platform MOSAIX

Benevolve has launched MOSAIX, a cloud-based self-service workforce intelligence platform designed to help organisations manage workforce transformation through skills intelligence, workforce planning and talent development. The platform enables businesses to assess workforce capabilities, identify future skill requirements and deliver personalised learning pathways aligned with evolving business priorities.

MOSAIX integrates skills intelligence, organisational design and workforce planning into a single platform and includes an AI-powered Skill Framework Builder that allows companies to create and update role-based skills frameworks. Benevolve said the platform combines AI-enabled assessments with workforce insights to help enterprises make informed talent decisions and build agile, future-ready organisations.

(This article will be updated with the latest news throughout the day.)