Nvidia eyes stake in Perplexity; Jaismine Lamboria’s road to gold

Hello reader,

Nvidia is reportedly in talks to invest in Perplexity in a funding round that would value the AI startup at more than $30 billion, over 50% higher than its previous valuation. Perplexity’s annualised revenue has also surged to over $750 million, up from less than $250 million at the start of 2026, helped by its AI agent product, Perplexity Computer.

Meanwhile, UPI turns 10 on August 25, marking a decade of explosive growth. Transactions have jumped from 1.78 crore in FY17 to 24,162 crore in FY26, a nearly 13,000-fold increase. Transaction value has surged more than 4,000 times to Rs 314 lakh crore. UPI recorded a monthly high of 2,366 crore transactions in July and now operates in 11 countries. 

In the education space, Veranda Learning has received NCLT approval to demerge its commerce education business into J.K. Shah Commerce Education, which is planned to be independently listed. The move is part of the company’s “Veranda 2.0” strategy to create more focused and independently managed education businesses.

And in New Zealand, the government is moving to ban social media use by children under 16. Platforms could face fines of up to 10% of global revenue for non-compliance, while proposed age-verification measures include account data, facial recognition and digital IDs. The bill, however, faces opposition from coalition partner New Zealand First, which says parents, not the government, should decide when children can access social media.

In today’s newsletter, we will talk about 

• Jaismine Lamboria’s road to gold
• Third Wave Coffee brews up Rs 408 Cr in funding

Here’s your trivia for today: What was the first consumer device powered by a Li-ion battery?

Inspiration

Jaismine Lamboria’s road to gold

From a hospital bed to a Commonwealth Games gold medal, Jaismine Lamboria’s journey is a story of resilience, mental strength, and relentless belief. Just weeks before the games, illness threatened to derail her campaign, but she returned stronger to claim the top prize. 

Key takeaways: 

• Jaismine returned to training just three weeks before the Games after battling a high fever, then beat Northern Ireland’s Michaela Walsh 5-0 in the final.
• After her 2024 Paris Olympics exit, she focused on rebuilding her technique, strength, and mental game, with psychology and mental conditioning becoming an important part of her training.
• A member of the Indian Army, Jaismine credits the Army’s support for her growth and hopes her journey encourages more young girls to take up boxing. 

Funding

Third Wave Coffee brews up Rs 408 Cr in funding

Third Wave Coffee is brewing up a bigger expansion plan after raising Rs 408 crore. The homegrown coffee chain plans to accelerate its store rollout and push into new consumer categories.

Key takeaways: 

• The funding round was led by WestBridge Capital, with participation from existing investor Creagis and angel investors.
• Third Wave currently has over 240 cafés and plans to enter eight new geographies next month, with a target of adding 100 stores annually.
• The company will scale its new dessert brand, Third Rush Desserts, alongside breakfast, savoury, and other all-day offerings.

News & updates

• Funding: Skincare startup Asaya has raised Rs 88 crore in Series A funding led by RPSG Capital, valuing the company at Rs 400 crore, three times its previous valuation.
• IPO: Shein is planning to raise up to $13.86 billion in Hong Kong dollars ($1.77 billion) in its initial public offering, according to a filing on Monday. 

What was the first consumer device powered by a Li-ion battery?

Answer: Sony Handycam CCD-TR1

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