Startup news and updates: Daily roundup (August 13, 2026)

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

What 66 years of selling Indian craft has taught Fabindia

Managing Director William Bissell on why the company would rather be a constant in a customer's life than the brand of the moment.

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Allstate’s Tejaswini Hebalkar on breaking barriers, mentorship, and the AI revolution

Tejaswini Hebalkar, SVP at Allstate Insurance Company, takes us through her journey in tech, shares lessons on leadership and explains why empathy will matter more in an AI-driven world.

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Mirae Asset’s MAVI raises Rs 1,125 Cr in first close of Venture Opportunity Fund II

Mirae Asset Venture Investments (MAVI), the venture capital investment platform of the Mirae Asset Financial Group in India, has raised Rs 1,125 crore as the first close of its Rs 1,800 crore Mirae Asset Venture Opportunity Fund – II (MAVOF II/Fund).

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Bluehill.VC raises Rs 400 Cr for maiden frontier-tech fund

Bluehill.VC, a frontier-tech-focused venture capital firm based in Chennai, announced the final close of its maiden Rs 400 crore fund, including the full subscription of its Rs 50 crore greenshoe option.

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Funding news

Scrubsy raises Rs 27 Cr in seed funding

D2C home cleaning brand Scrubsy has raised Rs 27 crore in a seed funding round led by V3 Ventures. The company, operated by BoldChem Science Pvt Ltd, plans to use the capital to expand into new categories, including car cleaners, laundry care and other all-purpose home cleaning solutions. Scrubsy aims to become India’s first digital-native brand to lead the home cleaning category at scale.

The company says it has grown 100% year-on-year and acquired more than 5 lakh customers within eight months of launch. It is targeting Rs 100 crore in annual recurring revenue by FY28. Scrubsy has been bootstrapped and EBITDA-positive since inception, it says. Its product portfolio includes kitchen, bathroom and shoe cleaning solutions focused on performance and convenience.

Invisel raises Rs 4 Cr led by IAN Angel Fund

Nanotechnology-based home surface protection brand Invisel has raised Rs 4 crore in funding led by IAN Angel Fund, with participation from BeyondSeed and FAAD Capital. The round marks the company’s first external funding after building a profitable business through bootstrapping. Invisel will use the capital to establish a dedicated manufacturing and research facility in Pune, strengthen materials science capabilities, accelerate product innovation and expand in domestic and international markets.

Founded by Atharva Ulangwar and Sumedh Yeolekar, Invisel develops protective coatings designed to prevent stains, hard water marks and everyday surface wear. Within over a year of commercial operations, the company has served more than 60,000 customers across 900-plus pin codes, generated Rs 5.2 crore in FY26 revenue and remained profitable.

Brilliance Cosmocare raises $200,000 seed funding

Mumbai-based skin health venture Brilliance Cosmocare has raised $200,000 in seed funding from a group of family offices and institutional investors. Founded by aesthetic surgeon Dr Ashok Patel, the company plans to use the capital to develop clinical infrastructure, expand its preventive-care product pipeline and strengthen its skin record data platform.

Brilliance positions itself around skin and hair longevity rather than conventional dermatology. Its approach begins with an AI-assisted diagnostic scan that evaluates factors including skin age, hydration, pigmentation, UV damage and barrier health. The resulting report is used by doctors to develop treatment plans. The company says its data-led approach is aimed at addressing gaps in the skincare and aesthetic medicine market.

Other news

Lightrock partially exits Kauvery Hospitals

Global investment platform Lightrock has announced a partial realisation of its investment in Kauvery Hospitals through Lightrock Growth Fund I. As part of the transaction, Lightrock will sell a portion of its stake to Kauvery’s promoters while retaining a meaningful ownership position and continuing to support the healthcare group’s growth.

Lightrock invested in Kauvery in August 2019 and has since worked with the hospital chain on expanding its footprint, strengthening clinical capabilities and improving access to healthcare across South India. The investment firm has also supported Kauvery through board representation. Established in 1999, Kauvery Hospitals began with a 30-bed facility in Tiruchirappalli, Tamil Nadu. It now operates 13 facilities with more than 2,500 beds and over 12,000 employees across six cities in Tamil Nadu and Karnataka.

IISc researchers launch multilingual speech model SraVaani

Researchers at IISc’s SPIRE Lab, in collaboration with ARTPARK and with support from Google, have released SraVaani, a multilingual Indian speech recognition model trained on 65 languages and dialects. The model includes more than 40 languages that are not officially supported by existing speech recognition systems.

SraVaani covers 20 scheduled languages and 45 regional languages and dialects, potentially expanding speech AI access to around 25 crore people whose languages are underserved. Its coverage spans regions across India and includes languages such as Garo, Angika, Chakma, Kokborok, Tulu, Bundeli and Bajjika. The model is publicly available on Hugging Face under an MIT licence, along with a demo and fine-tuning code. It is aimed at advancing low-resource speech-to-text, language detection and sovereign AI applications.

Capitalmind Mutual Fund reaches Rs 600 Cr AUM

Capitalmind Asset Management, the AMC of Capitalmind Mutual Fund, has completed one year since units of its first scheme, Capitalmind Flexi Cap Fund, were allotted on August 4, 2025. As of July 31, 2026, the fund house managed Rs 600 crore across four schemes for more than 13,000 investors. Investors were spread across 1,300 cities and towns, with 36% of individual investors coming from locations beyond the top 30 geographical markets identified by AMFI. Direct plans accounted for 84% of assets under management.

During its first year, Capitalmind expanded from one scheme to four and developed transaction and servicing access across direct, platform and distributor channels. The four schemes follow different investment approaches and portfolio requirements while sharing a focus on evidence-based decision-making, clear processes and disciplined execution.

HCLTech, NetApp expand hybrid cloud collaboration

HCLTech has expanded its collaboration with NetApp to offer hybrid cloud storage-as-a-service aimed at helping enterprises scale AI and data-driven workloads. The solution combines HCLTech’s Utility for Everything digital infrastructure framework with NetApp Keystone, a pay-as-you-go storage service. The consumption-based model allows organisations to scale storage, performance and data services according to changing workload requirements. It is designed to support AI and generative AI applications alongside traditional enterprise systems.

The offering also integrates with HCLTech’s AI Factory suite to support AI development, deployment and operations. By combining consumption-led infrastructure with NetApp’s data management capabilities, the companies aim to help enterprises move from AI pilots to larger-scale adoption. The solution also focuses on data readiness, governance and improving efficiency by running workloads closer to where data resides.

Deloitte India, CrowdStrike deepen cybersecurity partnership

Deloitte Touche Tohmatsu India LLP has expanded its strategic global partnership with CrowdStrike to help Indian organisations consolidate cybersecurity and strengthen security operations. The collaboration will provide wider access to CrowdStrike’s AI-native Falcon platform along with Deloitte India’s managed security services. The offering is designed to provide AI-powered protection, automated security operations and improved threat detection and response.

Deloitte India will help customers consolidate security capabilities on a single platform, enabling greater cross-domain visibility while reducing the cost and complexity associated with managing multiple security tools. The partnership will also provide consulting, transformation and managed security services to support Falcon deployments within existing technology environments. The companies said the expanded collaboration will help organisations strengthen their security posture as enterprises face increasing cybersecurity challenges in an AI-driven business environment.

BikeWo, Hala Mobility plan 1,000-EV fleet

BikeWo Green Tech has signed a memorandum of understanding with Hala Mobility to explore the deployment and management of electric vehicle fleets. The proposed first phase involves approximately 1,000 electric vehicles, with a strategic objective of scaling the deployment to around 10,000 vehicles over the next three years. The collaboration combines BikeWo’s capabilities in electric mobility and fleet operations with Hala Mobility’s participation in the mobility ecosystem.

During the initial phase, the companies will develop frameworks covering EV deployment, fleet utilisation, vehicle management and related operational requirements. Performance from the first phase will be assessed to determine the pace and scope of further expansion. The partnership aims to establish a scalable EV fleet operating model based on operational performance, commercial viability and evolving market requirements.

Salesforce, Tripura government target 10,000 digital learners

Salesforce and the Directorate of Information Technology, Government of Tripura, have announced a collaboration to expand digital skills and workforce readiness across the state. Announced at the Destination Tripura Business Conclave 2026 in Agartala, the initiative will use Salesforce’s Trailhead online learning platform to prepare students, youth, government employees and entrepreneurs for an AI-driven economy.

The programme aims to reach more than 10,000 learners by 2027. Participants will have access to self-paced learning paths covering CRM, business analysis, technology fundamentals and other areas. Salesforce will also provide orientation resources and support for learners using the platform. The Directorate of Information Technology will identify participants through government departments, educational institutions and skill-development agencies, while supporting awareness and wider access to the programme across Tripura.

Uber expands services to 100 more Indian cities

Uber has expanded into 100 additional Indian cities, taking its footprint to 225 cities across the country. The expansion will initially be powered by Uber Bike, offering affordable mobility options in smaller towns while creating flexible earning opportunities for local drivers. The new operations will span 18 states and one union territory. Uber Bike is intended to support short-distance travel, first- and last-mile connectivity and journeys through congested urban areas.

The company said two-wheelers are playing an increasingly important role in India’s everyday mobility. For riders, the service provides an affordable travel option, while drivers can access flexible earning opportunities using vehicles they already own. The expansion represents one of Uber’s largest moves in India and significantly broadens its presence beyond major urban centres.

Plugzmart to invest Rs 100 Cr in Tamil Nadu

Tamil Nadu-based EV charging technology company Plugzmart has signed an MoU with the Government of Tamil Nadu to invest Rs 100 crore in expanding its manufacturing footprint, research and development capabilities and charging infrastructure ecosystem. The investment is expected to generate more than 500 direct high-skilled jobs over the next three years across hardware engineering, power electronics, embedded software and advanced manufacturing.

Incubated at IIT Madras Research Park, Plugzmart operates as a full-stack EV infrastructure company. It designs and manufactures AC and DC fast chargers ranging from 3.3 kW to 360 kW, along with ARAI-compliant charger controllers, Power Line Communication modules and cloud-native Charger Management Systems. The investment will increase production capacity at its manufacturing facility in Oragadam and Vallam, strengthening Tamil Nadu’s EV infrastructure ecosystem.

Mahindra University launches open-source HackerFab

Mahindra University has launched India’s second HackerFab, following the student-led facility at IIT Bombay, and the country’s first university-sponsored, student-led open-source semiconductor fabrication facility. The initiative is aimed at strengthening India’s semiconductor capabilities and supporting the Atmanirbhar Bharat vision. The facility will enable students to design and develop low-cost fabrication tools for education and research, providing practical exposure to semiconductor manufacturing. Led by students from the university’s B.Tech. programme in VLSI Design & Technology, the HackerFab will focus on developing core semiconductor fabrication equipment.

T-Hub launches 12-month deeptech founder fellowship

T-Hub has launched Blueprint, a 12-month founder fellowship designed to support deeptech startups moving from early traction to scale. The programme was announced as part of HYD – Deep Tech: Next, a founder-focused initiative that brought entrepreneurs into discussions with the Technology Development Board of the Department of Science and Technology. Under Blueprint, T-Hub will work with deeptech founders as a generalist CXO, helping build operating and commercial foundations required for growth.

Founders will receive a 12-month operating plan, support to prepare for fundraising, a VC-ready pitch and a complete data room covering financials, ownership, legal documentation and business traction. T-Hub will also facilitate investor interactions, enterprise contracts and international exposure, alongside one-to-one mentorship, talent pipelines and access to market-oriented intellectual property.

CapitalXB deploys Biz2X digital lending platform

CapitalXB Finance, an RBI-regulated NBFC-Factor focused on supply-chain, working-capital and trade finance, has implemented an end-to-end digital lending and supply-chain finance platform powered by Biz2X. The technology deployment forms part of CapitalXB’s strategy to build a technology-led trade-finance platform combining digital credit, regulated lending, export finance, foreign exchange, compliance and distribution.

Through the Biz2X platform, CapitalXB has reduced KYC and client onboarding timelines from two to three days to less than an hour. AI-assisted credit assessment has also improved credit turnaround times by more than 80%. Over the next 12 to 18 months, the partnership is expected to support more than 250 SMEs and MSMEs and facilitate over Rs 1,000 crore in disbursements. The platform will also help CapitalXB scale transaction volumes and expand financing products and trade corridors.

AscentHR appoints Shivaprasad Mundakana as CHRO

HR technology and workforce solutions company AscentHR has appointed Shivaprasad Mundakana as its Chief Human Resources Officer, effective July 1, 2026. He joins the leadership team as the company expands across India and international markets.

In his new role, Mundakana will lead AscentHR’s people strategy, focusing on leadership development and organisational readiness for the company’s M&A-led expansion. He will oversee HR integration for acquired businesses and develop scalable people processes across geographies. His responsibilities will also include strengthening employee engagement and aligning employee and client success as AscentHR expands across APAC, the Middle East, ANZ and Africa.

Autodesk elevates Nikhil Bagalkotkar to lead AEC business

Autodesk has elevated Nikhil Bagalkotkar as Head – Architecture, Engineering and Construction (AEC), India and SAARC, effective immediately. In the new role, Bagalkotkar will lead the company’s AEC business strategy across the region and drive adoption of Autodesk’s Design and Make platform. He will focus on expanding the AEC business, strengthening customer and partner engagement and accelerating digital workflows across the design, engineering and construction lifecycle. Bagalkotkar brings nearly 20 years of technology and business leadership experience and has been with Autodesk for seven years.

Sujeeth Pai to become SKF India Industrial MD

SKF India (Industrial) has announced the appointment of Sujeeth Pai as its Managing Director, effective September 1, 2026, subject to shareholder approval. Pai will lead the company’s operations and drive its profitable growth agenda. He will succeed Mukund Vasudevan, who will become President for the Industrial Region covering India, Southeast Asia and the Middle East. Vasudevan will transition to the role of Non-Executive Director on the board.

Aurionpro wins Rs 100 Cr AI data centre order

Data centre solutions provider Aurionpro Solutions has secured an order valued at nearly Rs 100 crore from a global hyperscale data centre operator. The order involves building and project-managing digital infrastructure for the customer’s upcoming AI-ready data centre in Navi Mumbai, Maharashtra. The latest contract expands Aurionpro’s existing partnership with the hyperscaler and reflects continued confidence in the company’s technology capabilities and project execution expertise. The order strengthens Aurionpro’s position in the rapidly expanding data centre market, particularly in AI-ready infrastructure.

Bubble Me rebrands as magnesium-first wellness brand

Indian wellness brand Bubble Me has rebranded as it evolves from a bath and body care company into a magnesium-first wellness brand. The new identity reflects the company’s expanding product portfolio and focus on making everyday wellness more accessible, simple and science-backed. Founded around the belief that self-care should be enjoyable and approachable, Bubble Me has expanded over the past two years based on consumer insights and product innovation. Its focus now includes wellness needs such as recovery, sleep, stress management and targeted comfort.

Leah selects Oracle Cloud for global expansion

Leah, an agentic operating system for enterprise commercial work, has selected Oracle Cloud Infrastructure to support the global expansion of its Leah Agentic OS platform. The platform autonomously manages legal, contracting, procurement and finance workflows, while its Maestro super orchestrator coordinates agents, workflows and automation across enterprise systems. Leah expects OCI to improve platform performance by up to 30% and reduce cloud operating costs by up to 40%. Founded in 2015, Leah serves more than 400 enterprise customers.

Visafir waives visa service fees for select applicants

Technology-led visa facilitation company Visafir has announced an Independence Day initiative under which it will waive its visa facilitation service fee for girls below 18 years, senior citizens aged 60 and above, and retired armed forces personnel until August 31, 2026. Eligible applicants will receive assistance with visa documentation and application preparation without paying Visafir’s service fee. However, embassy charges applicable to the destination will continue to be borne by applicants. The company’s support includes organising documents, understanding destination-specific requirements and preparing applications for submission. Visafir combines AI-powered documentation with expert human verification, providing applicants with structured assistance while retaining human oversight at key stages.