Pixxel bags $100M in India’s biggest spacetech fundraise; Food delivery app Swish to raise Rs 225 Cr

Dear Reader, 

eB2B platform Udaan is set to acquire Swiggy’s distribution business Lynk Logistics for Rs 500 crore. 

The transaction involves a share swap agreement following which Swiggy will have a minority stake in Udaan. The deal strengthens Udaan’s distribution network and helps expand its presence across key markets. 

Meanwhile, just days after the launch of its most powerful AI model to date, OpenAI’s chief scientist has warned of AI risks and called for restraint. 

With AI showing signs of outpacing human control, the time has come for the industry to exercise extreme caution, Jakub Pachocki wrote in an article titled ‘An Alien Mind’.

“I am concerned no one is prepared for the consequences of a continued rapid rise in machine intelligence,” the scientist said, adding that the idea of racing forward at all costs seems “absurd” after knowing the seriousness of the stakes.

Closer home, Paytm’s Vijay Shekhar Sharma has said that AI agents will soon swallow apps. Sharma predicts that 2027 will see the “massification” of AI with super-capable agents replacing smartphone apps and performing all the tasks we do on our phones and computers. 

As the battery industry evolves from being an import-dependent sector to a fully integrated cell-to-recycling industrial ecosystem, it is expected to create up to 2 million jobs, says talent company Adecco India.

Moving on, ecommerce firms and quick commerce platforms are gearing up for the festive season with products for both bargain hunters and indulgent buyers. Industry experts expect the season to clock healthy value growth but be more measured in volume terms. 

In today’s newsletter:

• Pixxel bags $100M in India’s biggest spacetech fundraise 
• Food delivery app Swish to raise Rs 225 Cr

Here’s your trivia for today: Which automobile brand first offered seat belts?

Funding 

Pixxel raises $100M to build next-gen satellite infra

Bengaluru-based Earth observation company Pixxel has secured $100 million in a Series C round led by Singapore-based investment firm Temasek and specialist spacetech investor Seraphim. This marks the largest funding round raised by an Indian spacetech company. 

New investors 360 ONE Asset and IMM Investment joined existing backers Radical Ventures and growX Ventures. The round takes Pixxel’s total funding to $195 million.

Key takeaways: 

• The round marks an expansion of Pixxel’s ambitions beyond satellite imagery. While it started with hyperspectral satellites, it now combines satellites, software, and satellite systems for commercial and government missions. 
• The Google-backed company plans to use the funding to widen sensing capabilities, develop its Earth intelligence software platform Aurora, and expand sovereign Earth observation systems. It will also increase satellite production through Gigapixxel, a facility designed for high-rate manufacturing.
• “Years ago, we set out to build a health monitor for the planet,” said Founder and CEO Awais Ahmed. The latest investment, he said, will provide the momentum to turn that idea into broader planetary infrastructure, with more forms of sensing and greater capabilities.

<Funding Alert>

Startup: Nua 

Amount: $50M 

Round: Series C

Startup: HerSpace Manufacturing 

Amount: $40M 

Round: Undisclosed 

Quick commerce

Food delivery app Swish to raise Rs 225 Cr

Quick food delivery platform Swish is raising Rs 224.54 crore (approx $24 million) in an extended Series B round of funding led by Bertelsmann India. The round will also see participation from existing investors Bain Capital Ventures, Accel and Hara Global. 

This will be the second fundraise by the Bengaluru-headquartered startup this year. It had raised $38 million in March in a Series B round led by Hara Global and Bain Capital Ventures.

Key takeaways: 

• Founded in 2024 by Aniket Shah, Ujjwal Sukheja and Saran S, Swish promises food delivery in 10 minutes in a model that blends the elements of a cloud kitchen and quick commerce.
• Swish targets frequent, lower-ticket occasions such as breakfast, snacks, and late-night meals, rather than traditional lunch and dinner orders.
• The startup operates in a hyper-competitive space, competing with both quick-commerce players, including Blinkit and Zepto, as well as cloud-kitchen operators.

News & updates

• Startup roundtable: The Delhi government held a roundtable with leading startup founders, investors and industry representatives to seek suggestions on the implementation of its Startup and Incubation Policy, 2026, which aims to support more than 10,000 startups and generate over 4 lakh jobs.
• ISRO clarifies: The Indian Space Research Organisation has firmly rejected claims of privatisation or that its role in India’s space programme is being curtailed. The clarification comes after a series of reports about plans to move more rocket and satellite manufacturing and possibly parts of launch operations to private industry.
• New launch: Upstox has launched US stocks investing on its platform, allowing Indian investors to buy and sell more than 8,000 US-listed stocks and 2,000 exchange-traded funds through its app.

Which automobile brand first offered seat belts?

Answer: Nash Motors

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.