IIT Madras–incubated startup The ePlane Company partners with Nvidia to build India’s first electric air taxi

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February 19, 2026

IIT Madras–incubated startup The ePlane Company partners with Nvidia to build India’s first electric air taxi — Satya Chakravarthy, Founder and Chief Technology Officer of The ePlane Company

The ePlane Company, a Bengaluru-based developer of electric vertical take-off and landing (eVTOL) aircraft, has announced a strategic collaboration with Nvidia to build India’s first electric air taxi, the e200x.

Notably, the partnership does not involve any financial investment and instead focuses entirely on technical collaboration and knowledge exchange. Through this alliance, ePlane aims to accelerate the development, validation, and certification of its next-generation aircraft.

Under the agreement, ePlane will use Nvidia Omniverse libraries to create a high-fidelity digital twin of the e200x aircraft. This virtual replica will allow the company to validate flight physics, autonomy algorithms, sensor fusion, and complex mission scenarios that remain difficult, expensive, and risky to test in real-world conditions.

In addition, the company will deploy Nvidia’s IGX platform as the onboard computing system to host mission-critical aviation applications. As a result, The ePlane Company will significantly enhance its real-time computing and autonomy capabilities.

Because physical testing under extreme weather, sensor failures, or collision scenarios carries high costs and safety risks, the digital twin will enable the aircraft to fly millions of kilometres virtually. Consequently, the company can train and stress-test its algorithms across complex real-world scenarios long before the aircraft undertakes actual flight operations.

Commenting on the collaboration, Satya Chakravarthy, Founder and Chief Technology Officer of The ePlane Company, said the partnership strengthens the startup’s aerospace ambitions. “We are not just building an aircraft; instead, we are building an ecosystem,” he said. “By validating our flight operations suite in Nvidia Omniverse, we can push the aircraft to its limits thousands of times in simulation so that we never have to do so in reality.”

Providing an update, Bakthakolahalan Shyamsundar, Principal Engineer – Avionics Systems and Autonomy, confirmed that the first prototype is already complete. He added that the company plans to begin ground testing within the next few months.

“We will build two additional prototypes and then move into the certification phase with the DGCA,” he said. “We already have DGCA members working closely with us in Chennai.”

Incubated at IIT Madras, the startup aims to address urban mobility challenges in densely populated cities. Once testing and regulatory approvals conclude, ePlane plans to launch air taxi operations in major metros, including Bengaluru, Mumbai, and Chennai.

Separately, Nvidia has also announced a collaboration with AI Grants India, an AI-focused non-profit organisation, under the NVIDIA Inception programme. Through this initiative, the partners aim to support up to 500 early-stage AI startups in India over the next 12 months by providing access to advanced AI tools, models, and technical training to accelerate product development.

UrbanVault Appoints Ex-Yahoo & Microsoft Leader Ashish Ambast as CTO to Accelerate In-House Technology Innovation

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February 19, 2026

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UrbanVault Appoints Ex-Yahoo & Microsoft Leader Ashish Ambast as CTO to Accelerate In-House Technology Innovation — Ashish Ambast, CTO, UrbanVault

Bengaluru, February 19, 2025: UrbanVault, one of India’s fastest-growing new-age managed and flexible workspace providers, has announced the appointment of Ashish Ambast as its Chief Technology Officer (CTO), marking a significant step in the company’s technology-led growth journey.

With over 15 years of global technology experience and a proven track record in building scalable, high-performance systems, Ashish will spearhead UrbanVault’s next phase of innovation and digital transformation.

An alumnus of IIT Guwahati, Ashish has previously held key technology roles at global giants such as Yahoo and Microsoft, where he contributed to developing robust and scalable technology platforms. His deep expertise in backend architecture, system scalability, and product development will play a crucial role in strengthening UrbanVault’s technology infrastructure as the company continues to expand rapidly across India.

The appointment underscores UrbanVault’s commitment to building a strong in-house technology ecosystem designed to drive operational excellence, enhance customer experience, and deliver differentiated products within the managed workspace segment. Over the past year, UrbanVault has already rolled out several proprietary technology solutions, including an in-house Visitor Management System (VMS), a custom-built Customer Review and Feedback System, and multiple internal tools aimed at streamlining workspace operations and improving efficiency across locations.

With Ashish at the helm of technology, UrbanVault plans to accelerate the development of its backend infrastructure and launch multiple in-house technology products tailored specifically for the managed workspace ecosystem. The company’s technology roadmap will focus on strengthening backend systems across all centers, building data-driven decision-making tools, enabling seamless tenant experience platforms, automating operational workflows, and creating scalable product infrastructure to support its aggressive expansion plans.

Commenting on the appointment, Mr. Amal Mishra, Founder & CEO, UrbanVault, said, “I have known Ashish for the last 15 years—not only as a technologist with exceptional depth, but also as a trusted friend and a strong builder. His journey from IIT Guwahati to companies like Yahoo and Microsoft reflects both world-class engineering exposure and a consistent ability to execute at scale. With Ashish joining as CTO, our focus on building UrbanVault’s technology in-house has become even sharper. We strongly believe the future of managed workspaces will be driven by intelligent systems, seamless experiences, and strong backend platforms.”

UrbanVault’s continued investment in technology reflects its broader vision of redefining managed workspaces through innovation, efficiency, and scalable digital infrastructure, positioning the company at the forefront of India’s rapidly evolving flexible office sector.

Over the years, UrbanVault has expanded its national portfolio to over 2.80 million sq. ft., managing 70,000+ seats across 80+ locations in Bengaluru, Pune, Gurugram, Mumbai, and other major cities. The company continues to demonstrate strong performance, with an expected turnover of over ₹200 crore in FY2025-26, 70%+ year-on-year growth, and 18% PAT.

ABOUT URBAN VAULT

Founded in 2018, UrbanVault is a bootstrapped managed office space provider headquartered in Bengaluru, achieving impressive growth and profitability without external funding. The company recorded a ₹120 crore turnover in FY 2024–25, with 18% profit after tax and consistent year-on-year growth, reflecting strong financial discipline and sustainable business practices.

UrbanVault’s decision to self-fund its expansion has enabled it to maintain full control over operations and strategic direction. Since inception, the company has grown from a modest 40 seats to more than 70,000 seats across its network. Spanning over 2.80 million square feet across multiple cities, UrbanVault’s portfolio demonstrates its commitment to delivering value-driven, high-quality workspace solutions for a diverse set of enterprises.

Shodh AI launches Project Skanda, marking India’s entry into physical AI race

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February 19, 2026

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Shodh AI launches Project Skanda, marking India’s entry into physical AI race — Dr. Arastu Sharma, CEO of Shodh AI

Shodh AI, one of the twelve foundational model companies selected under the Government of India’s flagship IndiaAI Mission, has announced the launch of Project Skanda, a breakthrough initiative that positions India firmly in the global Physical AI race.

As an AI-for-Science company focused on advanced material discovery, Shodh AI developed Project Skanda in collaboration with NVIDIA. Through this partnership, the company aims to redefine how batteries and energy storage systems are designed, tested, and manufactured.

During the India AI Impact Summit, Shodh AI unveiled the Alpha Release of Project Skanda, one of the world’s first Mesoscale Foundation Models built specifically for energy storage. Unlike conventional AI models that concentrate on atomic-level chemistry, Skanda focuses on the mesoscale—the internal structural architecture within battery cells that directly determines lifespan, safety, and charging speed.

Moreover, the model trains exclusively for battery manufacturers, enabling them to dramatically accelerate material discovery timelines. According to Arastu Sharma, Project Skanda uses NVIDIA Hopper GPUs and the PhysicsNeMo framework to bridge the long-standing gap between theoretical research and real-world manufacturing.

“Today, users can upload an SEM image and receive accurate predictions of a battery’s life cycle,” Dr. Sharma said. “However, within a year, we will allow users to request an entirely new battery chemistry, and Skanda will deliver the complete methodology to manufacture it.”

Currently, battery innovation takes nearly a decade and costs millions of dollars. In contrast, Shodh AI aims to compress this process to just six months while keeping costs under $1 million, fundamentally transforming industrial R&D economics.

Highlighting the broader impact of the collaboration, Tim Costa, General Manager at NVIDIA, said that AI is rapidly accelerating scientific discovery. He added that Shodh AI’s use of NVIDIA’s technology creates a strong foundation for sovereign AI models capable of transforming India’s energy and technology ecosystems.

By combining advanced artificial intelligence with robotic automation, Shodh AI continues to position itself as a cornerstone of India’s scientific future. At the center of this ambition lies a national vision championed by Narendra Modi—that India must create foundational technologies rather than rely on innovation developed elsewhere.

“Our interaction with the Hon’ble Prime Minister reinforced a clear mandate,” Dr. Sharma said. “India must move from consuming technology to inventing it.” As a result, Shodh AI has received direct recognition for its leadership in building the nation’s scientific and technological backbone.

Meanwhile, the company is shifting its focus from Large Language Models to Large Science Models. Powered by its collaboration with NVIDIA, the same core platform is now extending into healthcare, biotechnology, and quantum material research.

Through India’s first Autonomous Robotic Material Foundry, Shodh AI enables AI systems to not only predict next-generation materials but also synthesize them autonomously. Consequently, this approach bridges theory and reality at an unprecedented scale.

Ultimately, Project Skanda represents a decisive transition from “Make in India” to “Invent in India,” ensuring that India does not merely participate in the future of science and AI but actively builds it for the world.

EV charging startup Statiq secures $18M funding to scale India EV infrastructure

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February 19, 2026

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EV charging startup Statiq secures $18M funding to scale India EV infrastructure — Raghav Arora & Akshit Bansal, co-founders, Statiq

Electric vehicle charging network Statiq has raised $18 million in a fresh funding round led by Tenacity Ventures, marking a major milestone in the company’s growth journey. Meanwhile, existing investors Y Combinator and Shell Ventures, along with RCD Holdings, also participated in the round.

With the new capital, Statiq plans to rapidly scale its charging infrastructure and expand its footprint across Tier I and Tier II cities in India. Additionally, the company will deploy a significant portion of the funds to roll out more DC fast chargers along key national highways, thereby strengthening long-distance EV travel.

At the same time, Statiq will channel part of the investment toward pilot export projects in the UAE, signaling its intent to enter international markets. Furthermore, the company will invest in improving hardware lifecycle management and deploying advanced telematics to support large-scale network expansion.

Calling the funding a long-term validation, Akshit Bansal, Co-Founder and CEO of Statiq, said the milestone reflects decades of perseverance. “This is not just a funding announcement; instead, it validates a 20-year mission,” said Akshit Bansal. “We navigated multiple cycles in this sector, yet we stayed focused on execution and unit economics. Moreover, we built infrastructure that performs reliably from the heat of Rajasthan to the humidity of Kerala. Now, this capital enables us to move beyond India and compete on a global stage.”

Founded in 2020 in New Delhi by Akshit Bansal and Raghav Arora, Statiq currently operates a franchise-owned, company-operated model. Under this structure, partners own the charging hardware while Statiq manages technology, operations, and network optimization. Notably, the company plans to install nearly 20,000 charging points across India by the end of this year.

From an investor perspective, Tenacity Ventures highlighted the strategic importance of Statiq’s platform. “At Tenacity, we back founders who are building the backbone of future industries,” said Rohit Razdan, Managing Director at Tenacity Ventures. “Statiq operates as a full-stack deep-tech platform that blends intelligent software with purpose-built hardware. As a result, we believe the company will emerge as critical infrastructure for India’s electric mobility future and beyond.”

By scaling infrastructure across cities and highways, investing in advanced technology, and testing international markets, the company continues to build critical backbone infrastructure for the future of electric mobility.

OpenAI eyes historic $100B raise to scale AI infrastructure

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February 19, 2026

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OpenAI is nearing the completion of the first phase of a massive new funding round that could raise more than $100 billion, according to people familiar with the discussions. If finalized, the deal would mark the largest private financing round ever and significantly strengthen the company’s ability to scale its artificial intelligence ecosystem.

As the maker of ChatGPT accelerates plans to invest trillions of dollars in global AI infrastructure, the company’s overall valuation could cross $850 billion once the full funding round closes. Notably, this figure exceeds earlier estimates of around $830 billion. However, sources say OpenAI will maintain a pre-money valuation of $730 billion during the initial phase of the deal.

Meanwhile, the first tranche of funding will primarily come from strategic corporate investors. These include Amazon, SoftBank Group, Nvidia, and Microsoft. Collectively, these companies could commit close to $100 billion if they invest at the upper end of the proposed ranges.

According to people briefed on the matter, the strategic investors aim to finalize their allocations by the end of this month. Subsequently, the company plans to close a second phase of fundraising later this year. That round will likely include venture capital firms, sovereign wealth funds, and other large financial investors, potentially pushing the total amount raised well beyond the initial target.

However, the discussions remain ongoing, and the final structure of the deal could still change. Representatives from OpenAI and the participating companies either declined to comment or did not respond immediately to inquiries.

Previously, it was reported that Amazon could invest up to $50 billion, while SoftBank may commit as much as $30 billion. Nvidia has also reportedly explored an investment of around $20 billion. Importantly, corporate investors will deploy the capital in multiple tranches throughout the year instead of making a single lump-sum investment.

As part of its deepening partnership with Amazon, OpenAI also plans to expand its use of Amazon’s cloud infrastructure and custom AI chips. Consequently, this collaboration could play a critical role in supporting OpenAI’s rapidly growing compute demands as competition in generative AI intensifies.

Fabless semicon startup Vervesemi raises $10 Mn in funding to strengthen its R&D capabilities

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February 18, 2026

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Fabless semicon startup Vervesemi raises $10 Mn in funding to strengthen its R&D capabilities — [L-R] Pratap Narayan Singh, Rakesh Malik, Co-founders of Vervesemi

India-based fabless semicon startup Vervesemi has raised $10 million in a Series A funding round led by ace market investor Ashish Kacholia and Unicorn India Ventures. In addition, the round saw participation from Roots Ventures, Caperize Fina, MAIQ Growth Scheme, and Six Stone Capital.

Through this fresh infusion of capital, Vervesemi will execute its growth strategy across three key focus areas. First, the company will accelerate product commercialization of its machine learning–enhanced analog signal chain IC portfolio, which includes advanced data converters and intelligent power and sensing solutions. These products target high-value applications across industrial systems, smart energy, motor control, and avionics.

Second, Vervesemi will deploy funds to transition existing silicon chips into full production, complete product qualification cycles, and scale its engineering and applications teams to support global customers. Third, the company will expand its intellectual property portfolio and strengthen its R&D capabilities focused on next-generation precision analog architectures. Additionally, Vervesemi will use part of the funding to build a strong go-to-market presence across Asia, the United States, and other major semiconductor markets, enabling deeper engagement with OEMs and system companies.

Commenting on the fundraiser, Rakesh Malik, Co-founder & CEO, Vervesemi, said, “This Series A funding marks a defining milestone for Vervesemi. The round was multiple times oversubscribed, and the backing of Ashish Kacholia, Unicorn India Ventures, and other distinguished investors reinforces our conviction that world-class semiconductor innovation can originate from India. This funding allows us to move from technology validation to large-scale deployment, positioning Vervesemi as a global supplier of intelligent analog mixed-signal semiconductor solutions.”

Echoing this sentiment, Pratap Narayan Singh, Co-founder & CTO, Vervesemi, said, “This funding enables us to transition from advanced R&D to scaled market execution. We are accelerating product tape-outs, expanding our engineering capabilities, and strengthening our global go-to-market presence. Our mission is to redefine how precision mixed-signal SOCs are designed and deployed worldwide.”

Over the past year, Vervesemi has made substantial progress across both technology maturation and commercial readiness. During this period, the company successfully validated its ML-enabled analog signal chain architecture in silicon, with multiple customers moving into production. Simultaneously, Vervesemi expanded its product pipeline and increased customer engagement across industrial and smart energy segments. Moreover, the company continues to strengthen its IP portfolio, which now includes more than 10 patents.

As a result, Vervesemi has advanced several programs into late-stage development and qualification, signaling its transition from a technology-driven startup to a product-focused semiconductor company preparing for scaled market entry.

Commenting on the investment, Ashish Kacholia, Founder of Lucky Investment Managers, said, “Vervesemi has a set of founders with rich experience from leading multinationals and deep domain expertise in Analog and Digital processing. This has been validated by order wins from marquee customers, including a leading space organisation for their chip and multiple global customers for their semiconductor IPs. The Indian Deep Tech innovation ecosystem is taking shape fast, and it is my privilege to partner with one of the most exciting companies in this space.”

Looking ahead, Vervesemi aims to scale its innovation roadmap to emerge as a global, product-driven semiconductor leader. The company is actively investing in team expansion, accelerating multiple product tape-outs, and increasing international customer engagement. Over the next few years, Vervesemi plans to build a diversified analog mixed-signal IC portfolio serving industrial, energy, avionics, and motor control markets worldwide.

On the talent front, the company plans to significantly expand its analog design, mixed-signal, firmware, and applications engineering teams to accelerate product development and customer support. Building a world-class semiconductor design organization in India remains a core strategic priority.

From a technology standpoint, Vervesemi will broaden its portfolio of ML-enhanced analog signal chain solutions, including next-generation data converters, intelligent sensing platforms, and integrated SoCs. In parallel, the company will deepen investments in proprietary IP and advanced silicon development programs.

Geographically, Vervesemi intends to strengthen its presence in key semiconductor hubs, particularly in the United States and strategic Asian markets, to collaborate more closely with OEMs and system integrators.

Meanwhile, the fabless semicon startup has launched a new motor control product line designed for high-efficiency and high-reliability applications across electric vehicles, drones, and industrial automation. These solutions integrate precision sensing, embedded control intelligence, and advanced fault detection to enhance performance and safety.

In addition, Vervesemi has introduced advanced bridge sensor interface chips for precision measurement applications such as weight scales, industrial sensing, and smart energy systems. These devices leverage the company’s proprietary ML-enhanced analog architecture to deliver superior accuracy, improved drift compensation, and enhanced robustness under harsh operating conditions.

Furthermore, Vervesemi has developed an avionics-grade multi-function controller platform engineered for aerospace and defense use cases. This platform integrates fail-safe mechanisms and adaptive error correction to ensure reliable operation in mission-critical environments.

With its expanding product portfolio, the fabless semicon startup is witnessing early customer traction, including initial design commitments in industrial and smart energy applications. At the same time, Vervesemi has completed critical silicon validation milestones, expanded its engineering workforce, and strengthened supply chain partnerships to support scaled production. Consequently, inbound interest from both domestic and global customers has increased significantly.

On the customer engagement front, Vervesemi has progressed from early technical discussions to active design-in engagements with OEMs and system companies across industrial automation, smart energy, mobility, and aerospace sectors. Several products are currently undergoing customer evaluation and qualification.

Additionally, the company has reinforced ecosystem partnerships with fabrication, packaging, and testing providers to ensure production scalability. These collaborations have enabled faster silicon validation cycles and readiness for volume deployment.

In the coming year, Vervesemi expects to transition from advanced product readiness to meaningful commercial traction. The fabless semicon startup aims to secure production design wins, initiate early revenue streams, and expand its portfolio into higher-value integrated semiconductor solutions.

Commenting on the round, Ankit Mittal and Tushar Gupta, Partners at Six Stone Capital, said, “We backed Vervesemi because the future of electronics manufacturing will be defined by companies that combine deep engineering with execution discipline. Pratap Narayan Singh and Rakesh Malik have built exactly that foundation.”

Vervesemi’s $10 million Series A funding marks a pivotal inflection point in its journey from innovation to global commercialization.

Qualcomm to invest $150 Mn in India’s AI startup ecosystem through strategic AI venture fund

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February 18, 2026

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Qualcomm to invest $150 Mn in India’s AI startup ecosystem through strategic AI venture fund — Cristiano Amon, President and CEO, Qualcomm Incorporated

Qualcomm Incorporated announced that it will invest up to $150 million (approximately ₹1,359 crore) to support India’s rapidly expanding technology and artificial intelligence startup ecosystem. The company will channel this investment through a newly launched Strategic AI Venture Fund, reinforcing its long-term commitment to India’s innovation landscape.

Through this initiative, Qualcomm Ventures will deploy capital across startups at various stages. Notably, the fund will focus sharply on AI-led innovation spanning automotive technologies, the Internet of Things (IoT), robotics, and mobile solutions.

Commenting on the launch, Qualcomm Incorporated President and CEO Cristiano Amon said on February 18, “Through our new Strategic AI Venture Fund, Qualcomm is investing in companies that are advancing the next chapter of AI in India.”

Furthermore, the move strengthens Qualcomm’s long-standing strategic bet on India and aligns seamlessly with its global push to advance edge AI, where intelligence operates directly within devices and systems rather than relying solely on cloud infrastructure.

Expanding on this vision, Amon added in a statement, “AI is entering a new phase where intelligence is built directly into the devices and systems people rely on every day—from smartphones and PCs to cars, industrial machines, and robots. This shift will reshape entire industries, and India’s startup ecosystem has a critical role to play as edge AI drives innovation across sectors.” As India continues to emerge as a dynamic innovation hub, Qualcomm sees a strong opportunity to help startups develop scalable, market-leading AI solutions.

In parallel, Qualcomm is positioning itself as a key enabler of efficient, secure, and high-performance edge AI by actively backing founders who build technologies with real-world industrial impact.

Reaffirming this commitment, Quinn Li, Senior Vice President at Qualcomm Technologies and Global Head of Qualcomm Ventures, said, “India has become one of the world’s most vibrant centres of innovation, and we’re proud to deepen our long-standing commitment to its startup ecosystem.”

He further added, “This additional investment expands our support for founders building the next generation of transformative technologies.”

Notably, Qualcomm Ventures, the investment arm of Qualcomm Incorporated, has invested globally since 2000. In India, Qualcomm has backed more than 40 startups since 2007, offering not only growth capital but also access to its deep technology expertise and global ecosystem.

Over the years, Qualcomm’s India portfolio—past and present—has included major names such as Reliance Jio, MapMyIndia, ideaForge, Shadowfax, Cavli Wireless, SpotDraft, and Tonetag.

Qualcomm’s $150 million Strategic AI Venture Fund marks a significant boost for India’s AI and deeptech startup ecosystem. By focusing on edge AI and real-world applications across industries, Qualcomm is not only strengthening its presence in India but also enabling the next wave of globally competitive AI innovation built from the country.

Sarovar Hotels signs franchise agreement for Golden Tulip Luxury Resort in Virat Nagar, Jaipur

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February 18, 2026

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Sarovar Hotels signs franchise agreement for Golden Tulip Luxury Resort in Virat Nagar, Jaipur — Rajesh Ranjan, Senior Vice President – Development, Sarovar Hotels

Sarovar Hotels, in partnership with Grassfield Group of Hotels & Resorts, has signed a franchise agreement for a 110-key luxury resort under the Golden Tulip brand in Virat Nagar, Jaipur. Notably, Golden Tulip operates as part of Sarovar Hotels’ brand portfolio and functions under the global umbrella of the Louvre Hotels Group.

With this development, the upcoming resort significantly strengthens Sarovar Hotels’ upscale leisure presence in Rajasthan, a market currently witnessing sustained demand driven by destination weddings, experiential travel, and premium resort stays. Furthermore, the project aligns closely with Sarovar’s broader strategy to expand its resort and leisure footprint in high-growth destinations through strong regional partnerships, according to an official release.

Commenting on the signing, Rajesh Ranjan, Senior Vice President – Development, Sarovar Hotels, said, “We are pleased to partner with Grassfield Group of Hotels & Resorts for the development of this Golden Tulip resort in Virat Nagar, Jaipur. Rajasthan continues to be a strategically important market for Sarovar Hotels, particularly across leisure and destination-led hospitality. This signing supports our focus on expanding premium resort offerings under globally recognized brands from our portfolio, backed by partners with strong regional expertise.”

Meanwhile, highlighting the significance of the collaboration, Dhruv Bansal, Managing Director, Grassfield Group of Hotels & Resorts, stated that the partnership reflects the group’s commitment to delivering internationally aligned hospitality experiences while simultaneously showcasing Rajasthan’s cultural and natural appeal.

Speaking to the media, Grassfield Group Chairman Sunil Bansal emphasized that the group currently operates Valley Grassfield Resort in Virat Nagar, which offers 150 rooms, a 15,000-square-foot banquet hall, and a 35,000-square-foot wedding garden, along with multiple wedding lawns. Moreover, the group operates Grassfield Club and Riviera Grassfield Resort in Jaipur and has several upcoming hospitality projects planned in Rajgarh, Sariska, and Udaipur.

The franchise agreement between Sarovar Hotels and Grassfield Group of Hotels & Resorts marks a strategic expansion in Rajasthan’s fast-growing luxury and destination wedding segment. Sarovar’s global brand strength, combined with Grassfield Group’s strong regional expertise, will drive the upcoming Golden Tulip resort in Virat Nagar to enhance Rajasthan’s premium hospitality landscape while actively catering to evolving leisure and experiential travel demand.

Brandworks Technologies signs MoU with MeitY Startup Hub at India AI Summit 2026 to strengthen AI hardware ecosystem

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February 18, 2026

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Brandworks Technologies today signed a Memorandum of Understanding (MoU) with MeitY Startup Hub (MSH) at the India AI Summit 2026, marking a significant step toward strengthening India’s deeptech and AI hardware startup ecosystem. Through this collaboration, both organizations aim to accelerate innovation, co-create AI-led hardware solutions with early- and growth-stage startups, and establish scalable commercialization pathways across the Electronics and IT domain.

Moreover, with active support and strategic guidance from the Ministry of Electronics and Information Technology (MeitY), Brandworks Technologies will curate and manage a robust network of manufacturing partners, compliance advisors, and ecosystem collaborators. This network will support startups across product engineering, scale-up, and commercialization stages. Additionally, Brandworks brings deep execution capabilities to the partnership, backed by its expertise in research-driven, design-led product development, advanced R&D, and high-precision manufacturing.

Importantly, the two-year MoU establishes a structured collaborative framework focused on strengthening India’s startup ecosystem, particularly in Electronics and AI hardware. At the same time, the partnership promotes intellectual property creation and the development of globally competitive products.

As part of this strategic engagement, Brandworks also announced the MSH–Brandworks Global AI Exchange Platform 2026. This cross-border AI OEM and ODM execution framework enables global AI hardware IP to be localized, manufactured, and scaled in India, while simultaneously supporting India-built AI innovations in expanding to international markets. Furthermore, the platform introduces a structured 0–180 day commercialization pathway, supported by ready manufacturing networks, ecosystem partners, and policy alignment. Consequently, this initiative reinforces Brandworks’ vision of “Designed in India, Built in India, Built for the World.”

Following the MoU signing, Brandworks unveiled a new portfolio of AI-powered hardware products, including the AI Voice Recorder, AI Speaker, and AI Glasses. Through this launch, the company expanded into intelligent, AI-native devices integrated with its proprietary LLM-backed AI infrastructure, aimed at accelerating AI adoption across enterprise, institutional, and public-sector use cases.

“India has the talent and the market to lead in AI hardware, and this partnership is a step towards institutionalizing that ambition. With our fully integrated AI stack and manufacturing capabilities, Brandworks is building the infrastructure required to design, engineer, and scale intelligent devices at global standards. The products launched today represent our contribution and alignment with the vision of ‘Built in India, for the world,'” said Ishwar Kumhar, CEO & Co-founder, Brandworks Technologies.

At the core of the new launch, Brandworks positioned its AI Voice Recorder as a wearable device offering multilingual AI transcription, automated summaries, and up to 20 hours of continuous recording. In addition, the company introduced its AI Speaker, which delivers a multilingual voice interface powered by its proprietary LLM engine for real-time processing across more than 50 languages. Expanding further into wearables, Brandworks also unveiled its AI Glasses, a lightweight, voice-first device designed specifically for enterprise applications. Notably, all three products operate on Brandworks’ fully integrated, in-house AI architecture spanning hardware, proprietary models, and secure backend infrastructure.

During the India AI Summit, Brandworks showcased its end-to-end AI architecture that enables seamless device orchestration, subscription management, and contextual AI processing across voice, text, and visual inputs. Significantly, the company developed the entire stack in-house, ensuring flexible deployment, enhanced data control, and independence from third-party AI engines.

Through its strategic collaboration with MeitY Startup Hub and the launch of its AI-native hardware portfolio, Brandworks reaffirmed its commitment to building globally competitive AI hardware platforms from India. At the same time, the company continues to contribute meaningfully to a robust, innovation-led deeptech startup ecosystem.

Brandworks Technologies Private Limited operates as a next-generation Indian electronics company specializing in design-led product development, advanced R&D, and high-precision manufacturing. The company delivers advanced solutions across AI and IoT hardware, audio systems, power and charging technologies, automotive electronics, and renewable energy devices. Ultimately, Brandworks remains focused on building a globally competitive electronics ecosystem rooted in innovation, sustainability, and engineering excellence.

Wealthtech startup Stable Money raises USD 25 Mn in funding to scale fixed-income investment platform

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February 18, 2026

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Wealthtech startup Stable Money raises USD 25 Mn in funding to scale fixed-income investment platform — Harish Jain and Saurabh Jain, co-founders, Stable Money

Bengaluru-based Stable Money has raised USD 25 million in a pre-Series C funding round at a valuation of USD 175 million, with Peak XV Partners leading the round. In addition, Z47, RTP Global, and Fundamentum Partnership participated in the funding.

Previously, the company attracted USD 40 million in capital from Fundamentum Partnership Fund, Matrix Partners, RTP Global, Lightspeed India, and several other investors, thereby strengthening its financial foundation ahead of this round.

Going forward, Stable Money plans to deploy the fresh capital to strengthen its core technology platform, expand access to complementary savings products, and scale teams across critical business functions. At the same time, the company aims to enhance operational efficiency while accelerating product-led growth.

Founded in 2022 by Saurabh Jain and Harish Reddy, Stable Money operates a fixed-income investment platform that enables individuals to earn stable returns through fixed deposits, bonds via Stable Bonds, and other low-risk instruments. Notably, the digital platform allows users to compare, invest in, and manage fixed-income products, particularly bank FDs, across multiple financial institutions from a single interface.

Reflecting on the company’s growth, the co-founders said, “What has been most encouraging over the last few years is seeing millions of families choose to manage their savings digitally, without compromise. We are deeply grateful to our investors for their continued belief in our journey. This raise reflects long-term conviction in our mission to build a trusted, modern platform for how India saves.”

Meanwhile, the startup plans to deepen partnerships with banks and NBFCs, both established and emerging, to expand customer choice, enable smarter rate discovery, and drive continuous product innovation. Additionally, Stable Money is strengthening its on-ground presence in key cities to build closer, trust-driven relationships with its growing user base.

According to company disclosures, Stable Money now serves over 40 lakh users, who have collectively invested more than ₹5,000 crore through the platform across fixed deposits, Stable Bonds, and other secure instruments. Furthermore, for FY25, the startup reported operating revenue of ₹104 crore, marking a sharp rise from ₹1.3 crore in FY24, although losses widened to ₹44.8 crore from ₹12.8 crore during the same period.

Importantly, this fundraising underscores strong investor momentum in India’s wealthtech ecosystem, which recorded over USD 634 million across 51 deals involving 39 startups in 2024–25. Early 2026 has already witnessed significant capital inflows, including AssetPlus raising USD 19.3 million, Wint Wealth securing USD 28 million, and Otto Money closing USD 1.3 million.

Stable Money’s latest funding round highlights growing confidence in digital-first, low-risk investment platforms as Indian households increasingly shift toward transparent and tech-enabled savings solutions. With strong investor backing, rapid revenue growth, and an expanding user base, Stable Money appears well-positioned to play a defining role in reshaping how India saves and invests for the long term.

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