Startup news and updates: Daily roundup (August 7, 2026)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Friday, August 7, 2026.
From Aule Space’s satellite ‘jetpack’ to BlissClub’s Rs 160-crore funding boost, YourStory brings you today’s headlines with the latest developments across sectors.
Featured news
How Aule Space is building a ‘jetpack’ to extend the lives of satellites
Picture yourself driving a car. You reach your destination and get ready for the return journey, only to realise that you’ve run out of fuel. “You wouldn’t abandon your car, would you?” asks Jay Panchal, Co-founder, Aule.
When the answer is an obvious no, 25-year-old Panchal proceeds to ask the next question–why would one do that for satellites then? Bengaluru-based Aule Space is building a jetpack that docks with satellites after they run out of fuel, extending their lives by a few years.
Latest news
Wakefit starts FY27 with profitability despite cost pressures
Wakefit, the omni-channel home and sleep solutions brand, began FY27 with higher revenue and improved profitability, supported by strong growth in its own sales channels, rapid retail expansion and better gross margins, even as volatile raw material costs remained a challenge.
Revenue from operations for the June quarter rose 16.6% year-on-year to Rs 404.9 crore. Profit after tax increased 19.2% to Rs 23.4 crore, although reported earnings were reduced by a Rs 7.3 crore deferred tax charge linked to the partial unwinding of deferred tax assets recognised in the previous quarter.
Funding news
BlissClub bags Rs 160 Cr to expand product range, retail footprint
Bengaluru-based athleisure brand BlissClub has raised Rs 160 crore in a funding round led by Singularity AMC, an India-focused alternative asset manager that backs high-growth businesses across sectors.
Founder Minu Margeret and her partner Vidit Aatrey have also invested significant personal capital in the round, while existing investors Elevation Capital, an early-stage venture capital firm, and global investment firm Eight Roads Ventures increased their commitments.
Other news
PayU, Marg ERP partner to digitise payments for pharma distributors, MSMEs
PayU has partnered with business management platform Marg ERP to power Marg Pay, an integrated payments solution for pharma distributors and MSME retailers. The solution embeds PayU's payment infrastructure into Marg ERP, enabling digital collections and automated reconciliation.
Retailers can generate dynamic QR codes for invoice payments, while distributors can create payment links with bill-wise reconciliation directly within the ERP. The companies said the partnership aims to reduce manual reconciliation, improve cash flow and enhance operational efficiency. The integration will also be extended to Marg's eRetail application for B2B ordering, payments and reconciliation.
Six IIT Madras faculty receive ANRF J. C. Bose Grant
Six faculty members from IIT Madras have been awarded the Anusandhan National Research Foundation's J. C. Bose Grant, a prestigious research award for senior scientists and engineers. The recipients are Prof. Sujatha Srinivasan, Prof. Thalappil Pradeep, Prof. Deepa Venkitesh, Prof. Jitendra S. Sangwai, Prof. Ramakrishnan Swaminathan and Prof. Sundargopal Ghosh.
The grant provides Rs 25 lakh annually for five years to support frontier research. The award recognises outstanding research achievements and enables senior researchers to pursue high-impact scientific and engineering research through enhanced extra-mural funding.
Private Community launches in Bengaluru with AI-powered entrepreneur platform
AI-powered entrepreneur network Private Community has launched its Karnataka operations in Bengaluru, marking its fourth state franchise in India after Maharashtra, Gujarat and Tamil Nadu. The organisation connects founders and business leaders through its proprietary AI platform, COMBINE, which provides AI-powered business intelligence, peer collaboration and expert insights.
Led in Karnataka by franchise heads Saji K George, Vaninath Reddy and Mahesh Shivanna, the community aims to support entrepreneurs through structured learning programmes and networking. The company plans to expand across other entrepreneurial hubs as it builds a nationwide business community.
Medi Assist appoints Gaurav Bhatnagar as chief TPA officer
Medi Assist Healthcare Services has appointed Gaurav Bhatnagar as the chief TPA officer. Based in Bengaluru and reporting to the CEO, he will lead the company's third-party administrator (TPA) business, focusing on operational excellence, technology adoption, member experience and partnerships with insurers and hospitals.
Bhatnagar has more than 18 years of experience across software, consumer and services sectors. He joins from Coupang, where he led sales strategy and revenue operations for its advertising business. He has also held leadership roles at private equity firm Permira and Amazon Europe.
Taggd launches AI-powered recruitment model with TARA
Taggd has introduced a new enterprise hiring model powered by TARA, its agentic AI recruitment assistant, following its recent acquisition by EMA Partners. The model combines AI with embedded human recruiters, called Forward-Deployed Recruiters, to improve hiring efficiency and recruitment outcomes.
According to Taggd, early deployments have improved hiring speed, talent matching, market intelligence and stakeholder satisfaction. The company also said TARA will enable it to offer enterprise-grade recruitment process outsourcing services to mid-sized businesses, expanding its addressable market while helping organisations scale hiring and reduce time-to-fill.
(This article will be updated with the latest news throughout the day.)