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Rapido secures $240 million at $3 billion valuation as Flipkart pushes IPO to 2028

Rapido secures $240 million at $3 billion valuation as Flipkart pushes IPO to 2028

On 15 May 2026, India’s startup scene saw fresh capital across mobility, consumer brands, and healthtech. Rapido raised $240 million in a primary round led by Prosus, valuing the ride-hailing firm at $3 billion, as part of a larger $730 million transaction. Consumer toy brand Legend of Toys bagged ₹21 crore in a pre-Series A. D2C sweetener brand The Sweet Change raised ₹70 lakh. Meanwhile, Flipkart deferred its IPO to 2028, and Innovaccer cut 340 jobs during an AI shift.

Summarised by Beize from a story on Startup Talky on 15 May 2026
Coal India dissolves solar manufacturing unit ending 4 GW integrated panel plans

Coal India dissolves solar manufacturing unit ending 4 GW integrated panel plans

Coal India has dissolved its solar manufacturing subsidiary, CIL Solar PV Ltd, effectively shutting down plans to enter integrated solar photovoltaic manufacturing via a special-purpose vehicle. A regulatory filing says the company’s name was removed from the Register of Companies under the Companies Act, 2013, after a Ministry of Corporate Affairs public notice in April 2026. The move ends a proposed 4 GW domestic manufacturing push aimed at reducing reliance on imported solar equipment, though Coal India says it will keep investing in renewables.

Summarised by Beize from a story on Startup Talky on 15 May 2026

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ED freezes Gameskraft assets worth INR 526 crore in PMLA probe into alleged bot led rummy fraud

ED freezes Gameskraft assets worth INR 526 crore in PMLA probe into alleged bot led rummy fraud

The Enforcement Directorate has announced an INR 526.49 crore freeze of movable assets linked to Bengaluru-based real-money gaming platform Gameskraft Technologies Ltd after PMLA searches concluded. The action follows raids across Karnataka and Delhi-NCR between May 7 and May 13. ED claims bank deposits and payment gateway balances, bonds, and fixed deposits were frozen, and it seized INR 3.5 crore in gold, diamond jewellery, bullion, plus INR 11 lakh cash. The agency alleges fraud, including bot-based manipulation, and says proceeds were routed through investments and foreign entities.

Summarised by Beize from a story on Startup Talky on 15 May 2026
Uber to open major tech hubs in Bengaluru and Hyderabad by 2027 boosting engineering and AI hiring

Uber to open major tech hubs in Bengaluru and Hyderabad by 2027 boosting engineering and AI hiring

Uber is planning two large technology centres in Bengaluru and Hyderabad, targeting completion by 2027. CEO Dara Khosrowshahi announced the move during a Bengaluru town hall on 14 May, as Uber increases investments in digital infrastructure, logistics, and mobility. The company says it will hire more technical talent for roles spanning back-end infrastructure, autonomous vehicle work, and generative AI. Uber also plans to partner with the Adani Group to build its first Indian data centre, expected to be operational by 2026, alongside a $330 million investment in its local subsidiary.

Summarised by Beize from a story on Startup Talky on 15 May 2026
Legend of Toys raises ₹21 crore Pre-Series A after hitting ₹30 crore annualised revenue growth

Legend of Toys raises ₹21 crore Pre-Series A after hitting ₹30 crore annualised revenue growth

Bengaluru D2C toy brand Legend of Toys has raised ₹21 crore in a Pre-Series A round led by Singularity and others, as it pushes toward what it calls India’s first premium play universe. The funding follows an 18-month surge that brought annualised revenue past ₹30 crore and 20% month-on-month growth. The company points to shifting demand signals: imports reportedly fell 52% while exports rose 239% from FY2014–15 to FY2022–23, alongside BIS certification since 2021.

Summarised by Beize from a story on Startup Talky on 15 May 2026
Verizon Cuts Hundreds More Jobs as Cost-Cutting Plan Stretches to 2026

Verizon Cuts Hundreds More Jobs as Cost-Cutting Plan Stretches to 2026

Verizon has begun another round of US layoffs, following the elimination of about 13,000 jobs last year. The company confirmed the latest cuts to a news outlet but declined to share the exact headcount affected. It said the impact is under 1% of its total workforce, with the heaviest reported effect at its Basking Ridge, New Jersey headquarters. Verizon executives say the restructuring and “leaner” operations will continue through 2026, even as the company hires for growth roles.

Summarised by Beize from a story on Startup Talky on 14 May 2026

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Akash Ambani named Jio Platforms managing director as IPO talks hit a new valuation range

Akash Ambani named Jio Platforms managing director as IPO talks hit a new valuation range

Jio Platforms, Reliance Industries’ digital arm, has appointed Akash Ambani as managing director for five years starting April 9, 2026. The move was unanimously approved by the board and filed with the MCA. It comes as the company reportedly reworks its IPO route and pricing, with analysts valuing Jio Platforms between $200 billion and $240 billion.

Summarised by Beize from a story on Startup Talky on 13 May 2026
Instafix and Nivasa lead India funding surge while Groww backers cash out ₹5,326 crore post lock in

Instafix and Nivasa lead India funding surge while Groww backers cash out ₹5,326 crore post lock in

Early stage deals dominated India’s startup news on 13 May 2026. Instafix raised ₹7.55 crore pre-seed for rapid smartphone repairs. Nivasa Finance secured ₹25 crore seed to expand affordable housing lending. In public market spillover, Groww’s lock in expiry triggered block deals worth ₹5,326 crore, while Jio Platforms named Akash Ambani MD ahead of its IPO.

Summarised by Beize from a story on Startup Talky on 13 May 2026
Gold and silver prices surge in India as import duty doubles to 15% pushing 24K to ₹1,63,000

Gold and silver prices surge in India as import duty doubles to 15% pushing 24K to ₹1,63,000

Gold jumped nearly 6% to around ₹1,63,000 for 24K and silver climbed about 6.2% to roughly ₹2,96,910/kg in India on 13 May 2026. The main trigger: the government more than doubled import duty to 15% from 6%, adding a 10% customs duty and 5% Agriculture Infrastructure and Development Cess. Markets also watched global safe-haven cues and US dollar moves.

Summarised by Beize from a story on Startup Talky on 13 May 2026
Amazon India raises health coverage for 90000 delivery partners as quick commerce surges

Amazon India raises health coverage for 90000 delivery partners as quick commerce surges

Amazon India has upgraded health and insurance benefits for 90,000 delivery partners, adding outpatient coverage, hospitalisation support, and compensation for temporary and permanent disabilities. The package also includes higher group personal accident coverage, capped out-of-pocket costs, and mediclaim top-ups. Amazon is also running free health screening camps nationwide and linking the initiative to a 2,800 crore investment.

Summarised by Beize from a story on Startup Talky on 13 May 2026

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Meta workers protest AI tracking as layoffs loom and software captures keystrokes and clicks

Meta workers protest AI tracking as layoffs loom and software captures keystrokes and clicks

Meta employees are protesting a new monitoring system that captures occasional screenshots and logs mouse movements, clicks, and keystrokes to “teach” AI. The rollout comes days before Meta’s planned 10% layoffs on May 20, raising fears of surveillance and shrinking worker autonomy. Meta says the data is needed for real computer-use examples, while UK staff push unionization.

Summarised by Beize from a story on Startup Talky on 13 May 2026
Walmart Plans 1000 Corporate Job Cuts as AI Takes Over Tech and Operations

Walmart Plans 1000 Corporate Job Cuts as AI Takes Over Tech and Operations

Walmart is reportedly considering cuts or relocations of about 1,000 corporate employees as it restructures its technology and AI work. The retailer appears to be blending its global technology and AI product teams into a single operating model while investing more in AI-driven operations, automation, and digital infrastructure under CEO John Furner.

Summarised by Beize from a story on Startup Talky on 13 May 2026
HrdWyr and Mekr lead India funding rush as AI chips and electronics scale with big capital wins

HrdWyr and Mekr lead India funding rush as AI chips and electronics scale with big capital wins

India’s startup funding day on 12 May 2026 was powered by semiconductors and manufacturing. Bengaluru’s HrdWyr bagged $13 million to build AI-native AISoCs, while Mekr raised ₹67 crore for electronics manufacturing. Spacetech Agnikul is reportedly in talks for a $50–75 million round at a flat $500 million valuation. In business news, InCred Capital acquired S Cube Capital and SBI cleared up to $2 billion overseas bond issuance.

Summarised by Beize from a story on Startup Talky on 13 May 2026
OpenAI launches a deployment company and plans to buy Tomoro for enterprise AI rollout scale

OpenAI launches a deployment company and plans to buy Tomoro for enterprise AI rollout scale

OpenAI has launched the OpenAI Deployment Company to help businesses build and deploy reliable AI for mission-critical daily operations. The venture will send Forward Deployed Engineers to work with executives, operators, and frontline staff to identify where AI can have the biggest impact. With more than $4 billion invested and a planned acquisition of applied AI firm Tomoro, OpenAI aims to speed up time from choosing use cases to production rollout.

Summarised by Beize from a story on Startup Talky on 13 May 2026

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GM cuts hundreds of IT jobs as it bets more on EVs AI and software transformation

GM cuts hundreds of IT jobs as it bets more on EVs AI and software transformation

General Motors has begun laying off 500 to 600 IT employees worldwide, with the biggest impact in Warren Michigan and Austin Texas. The company says the moves support a broader restructuring of its technology department as it tightens costs while continuing major investments in EVs AI and software. GM did not disclose the final affected headcount but continues hiring for selected tech roles.

Summarised by Beize from a story on Startup Talky on 13 May 2026
India Auto Sales April 2026 EVs Surge 41% and Tata Motors Dominates SUV Boom With Punch Nexon

India Auto Sales April 2026 EVs Surge 41% and Tata Motors Dominates SUV Boom With Punch Nexon

India’s auto market started FY27 strongly in April 2026, with EVs and SUVs driving the momentum. Overall EV sales jumped 41% YoY, led by a 61% surge in electric two-wheelers. Tata Motors stood out in passenger vehicles, clocking 59,000 sales and powering its growth largely through the Punch and Nexon SUVs.

Summarised by Beize from a story on Startup Talky on 13 May 2026
Wingreens ₹120 Cr Series D and Safe Harvest acquisition as InCred and Acko race toward IPOs

Wingreens ₹120 Cr Series D and Safe Harvest acquisition as InCred and Acko race toward IPOs

Wingreens Farms closed a ₹120 crore Series D and acquired Safe Harvest via a share-swap, banking on farmer partnerships and EBITDA profitability for a listing in two years. InCred Holdings filed its UDRHP for a ₹1,250 crore IPO, while Acko swung to ₹43.6 crore FY26 profit ahead of its own listing. Elsewhere, Ather hit a record high and Urban Company slid after a steep Q4 loss.

Summarised by Beize from a story on Startup Talky on 11 May 2026
Commerzbank to cut 3000 jobs as AI overhaul targets huge profit and cost gains

Commerzbank to cut 3000 jobs as AI overhaul targets huge profit and cost gains

Commerzbank says it will cut 3,000 jobs to fund and accelerate a €600 million AI strategy under its “Momentum 2030” plan. The move comes as pressure mounts from UniCredit’s €37 billion takeover bid. The bank expects €450 million in reorganisation costs, while using AI across service, KYC, fraud prevention and internal assistants to boost revenue and slash operational expenses.

Summarised by Beize from a story on Startup Talky on 11 May 2026

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Truecaller lays off 15% after India revenue plunges 41% amid ad shocks and market competition

Truecaller lays off 15% after India revenue plunges 41% amid ad shocks and market competition

Truecaller is cutting about 70 jobs, roughly 15% of its workforce, after a weak first quarter that exposed pressure on its core advertising-led model. Net revenue fell 27% year-on-year, while India revenue dropped 41%, dragged by losses in real-money gaming ad spend after regulatory bans, advertising partner algorithm updates, and weaker activity from regional conflicts.

Summarised by Beize from a story on Startup Talky on 11 May 2026
Bobakat bags ₹6 crore Pre-Series A to rapidly scale bubble tea stores across India

Bobakat bags ₹6 crore Pre-Series A to rapidly scale bubble tea stores across India

Mumbai based Kathy’s Beverages’ Bobakat has raised ₹6 crore in a Pre-Series A round to expand its bubble tea and beverage brand nationwide, aiming to add 135 stores by FY28-29. The company will fund product innovation, marketing, and team growth, betting on a compact high-footfall format and strong unit economics, with ambitious targets of ₹100 crore net sales within 36 months.

Summarised by Beize from a story on Startup Talky on 11 May 2026
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