Archives 2026

Bengaluru, India Feb 18th: Zoomcar Holdings, Inc. (OTCQB: ZCAR) (“Zoomcar” or the “Company”), India’s leading peer-to-peer car-sharing marketplace, today announced results for the quarter ended December 31, 2025 (Q3 FY25-26), underscoring continued execution on profitability and balance sheet priorities.

The Company delivered record contribution profit of $1.38 million (58% margin), also marking the ninth consecutive quarter of positive contribution profit. Contribution profit per booking improved by a significant 14% to $14.10, up from $12.39 in the prior year quarter. Adjusted EBITDA loss improved 74% year over year to $(0.83) million, while loss attributable to shareholders narrowed 91% year over year to $(0.72) million.

“Our Q3 FY25-26 results reflect stronger booking level economics and continued operating discipline,” said Deepankar Tiwari, CEO of Zoomcar. “With repeat usage remaining resilient without significant promotion spend, we believe we’re well positioned to consolidate India’s peer-to-peer mobility market as consumer preferences shift from ownership to access.”

Q3 FY25-26 Highlights (Quarter ended Dec 31, 2025)

• Path to Profitability accelerated without performance marketing spends: Ninth straight quarter of positive contribution profit, delivering record quarterly contribution profit of $1.38M (58% margin) and $14.10 contribution profit per booking, achieved with no performance marketing spend for 21+ months.
• Meaningful profitability progress: Adjusted EBITDA loss improved 74% YoY to $(0.83)M.
• Net loss materially reduced: Loss attributable to shareholders improved 91% YoY to $(0.72)M (vs. $(7.92)M prior year).
• Demand quality remained strong: GBV $6.60M (+1% YoY); repeat users contributed 58% of bookings; average guest trip rating reached an all-time high of 4.79/5.

Market Tailwinds + Unit Economics Inflection

Zoomcar believes India presents a compelling long-term opportunity for peer-to-peer car-sharing, driven by low car penetration and rising digital adoption. The Company highlighted projected total addressable market (TAM) expansion from 18.5 million users in 2025 to 65 million users by 2031, alongside continued unit economics improvement, with contribution margin per booking improving from negative levels in December 2023 to +$14.10 in December 2025.

Fundraising and Uplisting Update

Zoomcar is in the process of raising additional capital to support growth initiatives, including a  private placement bridge financing with a minimum raise of $2 million and up to $10 million, including an overallotment option. The Company has also launched a tender offer to exchange existing investor warrants for shares of common stock as part of efforts to simplify its capital structure. Zoomcar is also evaluating a possible uplisting to a U.S. national securities exchange, and continues to restructure existing debt obligations to strengthen its balance sheet and improve long-term financial sustainability.

New Delhi, Feb 18: Brandworks Technologies, India’s fastest-growing design-driven, R&D-led electronics manufacturing powerhouse, today signed a Memorandum of understanding (MoU) with MeitY Startup Hub (MSH) at the India AI Summit 2026 to collaborate on strengthening India’s deeptech and AI hardware startup ecosystem. The collaboration aims to deepen innovation, co-create AI-led hardware solutions with early and growth-stage startups, and build scalable commercialization pathways in the Electronics and IT domain.

With active support & guidance of MeitY, Brandworks will curate and manage a network of manufacturing partners, compliance advisors and ecosystem collaborators to support product engineering, scale-up and commercialization. Specializing in research-driven, design-led product development, advanced R&D and high-precision manufacturing, the company brings deep execution capabilities to the partnership. Valid for two years, the MoU establishes a collaborative framework aimed at strengthening India’s startup ecosystem, particularly in Electronics and AI hardware, while promoting the creation of intellectual property and globally competitive products.

As part of this strategic engagement, Brandworks also announced the MSH – Brandworks Global AI Exchange Platform 2026, a structured cross-border AI OEM and ODM execution framework designed to enable global AI hardware IP to be localized, manufactured and scaled in India, while supporting India-built AI innovations in expanding to international markets. The platform establishes a 0–180 day commercialization pathway backed by ready manufacturing networks, ecosystem partners and policy alignment, reinforcing Brandworks’ vision of ‘Designed in India, Built in India, Built for the World’.

Following the signing, Brandworks launched a new portfolio of AI-powered hardware products – the AI Voice Recorder, AI Speaker, and the AI Glasses, marking expansion into intelligent AI-native devices integrated with its proprietary LLM-backed AI infrastructure, aimed at accelerating enterprise, institutional and public-sector AI adoption.

“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’ vision.” said Ishwar Kumhar, CEO & Co-founder, Brandworks Technologies

At the centre of the new launch is Brandworks’ AI Voice Recorder, a wearable device offering multilingual AI transcription, automated summaries and up to 20 hours of recording. The company also introduced its AI Speaker; a multilingual voice interface integrated with its proprietary LLM engine for real-time processing across 50+ languages. Expanding into wearables, Brandworks unveiled its AI Glasses, a lightweight, voice-first device for enterprise use. All three products are powered by Brandworks’ fully integrated, in-house AI architecture spanning hardware, proprietary models and secure backend infrastructure.

At the India AI Summit, Brandworks showcased its fully integrated AI architecture, enabling device orchestration, subscription management and contextual AI processing across voice, text and visual inputs. Developed entirely in-house, the stack ensures flexible deployment and enhanced data control without reliance on third-party AI engines. Brandworks Technologies specializes in research-driven, design-led product development, advanced R&D, and high-precision manufacturing.

Through the strategic collaboration with MSH and the launch of its AI-native hardware portfolio, Brandworks reinforced its commitment to building globally competitive AI hardware platforms from India while contributing to a robust and innovation-led deeptech startup ecosystem.

Hyderabad, Feb 18: After a successful run spotlighting some of India’s most exciting emerging voices, SOCIAL SELECTS returns with its fifth edition, bringing electronic music artist and producer AATMA to Mindspace SOCIAL, Hyderabad as part of a 5-city India tour, following previous successful editions in Delhi, Kolkata and Mumbai.

Built as an artist-first platform, SOCIAL SELECTS continues SOCIAL’s long-standing role as a cultural playground where music, community, and discovery come together. From genre bending DJs to fresh independent voices, the IP is designed to amplify artists who are shaping the future of India’s sound, one city at a time.

Leading this edition is AATMA, an Indian electronic music artist known for weaving traditional Indian and folk influences into melodic techno and deep house. His sound is rooted in storytelling, where heritage meets modern club culture. AATMA’s debut Time EP, released on Smash Deep, Dimitri Vegas and Like Mike’s deep house label, has already crossed one million plays, marking him as one of the most promising names in the Indian electronic music scene today.

Event Details:

• Venue: Mindspace SOCIAL, Hyderabad
• Date: 21^st  February, 2026
• Time: 9:00 P.M Onwards

Mumbai, Feb 18: Union Mutual Fund today signed a Registrar and Transfer Agent (RTA) agreement with CAMS to support transaction processing and investor servicing for Arthaya SIF. This arrangement is aimed at ensuring operational readiness and a seamless servicing experience for investors and distribution partners when Investment strategies under Arthaya SIF are launched.

Derived from the Sanskrit word Artha (wealth), Arthaya signifies “Purpose Led Wealth.” The name reflects Union Mutual Fund’s philosophy of purposeful wealth creation, blending Indian roots with a modern outlook and aligning financial journeys with long-term financial goals.

Mr. Madhu Nair, CEO, Union AMC, said: “As we develop our Specialized Investment Fund offerings in a measured and thoughtful manner, establishing a strong operational backbone is essential. Signing the RTA agreement with CAMS is a step towards ensuring that when Investment strategies under Arthaya SIF are introduced, investors and partners benefit from a smooth and well-supported transaction and servicing experience.”

Mr. Anuj Kumar, Managing Director, CAMS, added: “We are pleased to collaborate with Union Mutual Fund in supporting their SIF offerings. Our infrastructure is designed to provide reliable transaction processing and investor servicing support, enabling efficient operationalisation of new investment offerings.”

Union Mutual Fund aims to develop Investment strategies under Arthaya SIF with a focus on disciplined strategy design, governance, and investor-centric execution. Strategies under Arthaya SIF will be introduced in due course, subject to applicable approvals.

Hyderabad, Feb 18th: Rapido, India’s largest and most affordable one-stop mobility platform, is playing a growing role in enabling urban livelihoods across Hyderabad. It is emerging as a key income engine for thousands of captains across bike, auto, and cab categories.

Today, Hyderabad is home to over 5.4 lakh active Rapido captains, supported by more than 34.3 lakh total registrations across categories. Captains in the city earn an average monthly income ranging from ₹65,000 to ₹1,00,000, depending on the type of vehicle and their working patterns, with daily earnings typically between ₹3,000 and ₹4,000.

Importantly, for many captains this income is not supplementary. Nearly 50% of captains in Hyderabad report Rapido as their primary source of income, underscoring the platform’s role in enabling stable, independent livelihoods. This scale of opportunity is powered by strong, everyday demand. Hyderabad alone sees over 9.1 lakh Rapido rides each day, adding up to nearly 2.43 crore rides a month. Almost 4.7 lakh of these take place during peak office and college hours, offering captains reliable, high frequency earning windows.

With quicker average ETAs than competitors and commuter savings of up to ₹10,000 a month, Rapido continues to create a win-win for the urban mobility ecosystem, making daily travel smoother for riders while helping captains build steady, sustainable incomes.

Pavan Guntupalli, Co-Founder, Rapido said “Hyderabad holds a special place in Rapido’s journey and has evolved into one of our strongest livelihood markets. What we’re seeing here goes far beyond ride growth—it’s about income enablement at meaningful scale. For thousands of captains, Rapido today is a primary source of livelihood, offering the flexibility to work on their own terms, consistent demand, and the ability to build stable, predictable monthly earnings. As Hyderabad continues to grow and commute patterns evolve, our focus remains clear: to deepen earning opportunities for captains while making everyday mobility faster, more accessible, and more affordable for the people of the city.”

As Hyderabad grows, Rapido’s expanding multi-category network is increasingly becoming part of the city’s everyday economic and mobility infrastructure.

New Delhi, India, Feb 18th: Eka Care, a leader in AI-led digital health and connected care, today announced that it will collaborate with NVIDIA to develop a next-generation medical scribe for doctors. This initiative will help Eka Care build a consolidated, end-to-end, multilingual medical scribe model, a variant of which would be capable of running entirely offline, a breakthrough that promises to bring AI-powered documentation to even the most remote clinics in India.

The collaboration will leverage NVIDIA’s AI software and compute infrastructure to accelerate the development of Eka Care’s proprietary medical AI solutions. By combining Eka Care’s deep clinical data expertise with NVIDIA AI infrastructure and domain expertise, the initiative will address critical challenges in healthcare such as data privacy, internet dependency, and the need for real-time, low-latency transcription.

Powering the Next Wave of Clinical AI: 

Eka Care will utilise NVIDIA NeMo Curator to refine its massive datasets of Indian medical conversations. Eka Care is using NeMo Curator to clean and organise clinical data, ensuring the highest standards of data hygiene. To prevent “catastrophic forgetting”—a common issue where AI models lose previously learned knowledge as they take on new tasks—Eka Care is integrating the NVIDIA Nemotron CC dataset for replay during the pre-training phase. This ensures the model remains robust and generalizable while becoming a specialist in medical terminology.

Evaluating State-of-the-Art Architectures: As part of this initiative, Eka Care is actively evaluating NVIDIA Nemotron Speech models, including Parakeet automated speech recognition (ASR) to power its end-to-end application. The goal is to merge ASR and Large Language Model (LLM) capabilities into a single, efficient architecture that reduces computational overhead without sacrificing clinical precision. As of part of its open innovation initiative, Eka Care will be exploring potential open-sourcing of this consolidated model.

“Building a medical scribe for India requires navigating complex code-mixing and diverse accents. By collaborating with NVIDIA, we aren’t just improving our accuracy; we are building a sovereignty-first model that can live on a doctor’s mobile, independent of cloud connectivity. This is the future of secure, private patient documentation” said Vikalp Sahni, Founder & CEO, Eka Care. 

“India’s AI startup ecosystem is primed for acceleration, driven by exceptional technical talent and global ambition,” said Tobias Halloran, director of EMEAI startups and venture capital at NVIDIA. “NVIDIA is accelerating this momentum by giving founders direct access to accelerated computing, scalable AI infrastructure, and programs like NVIDIA Inception for startups and the NVIDIA VC Alliance—helping startups scale faster and build for global markets.”

This announcement aligns with the broader momentum around the India–AI Impact Summit 2026, a flagship gathering hosted by the Government of India under the IndiaAI Mission, taking place in New Delhi.

India, Feb 18th: Exponent Energy, a Bengaluru-based energy-tech company, announced a 360-degree fintech and asset management business venture, Exponent One, aimed at addressing a key barrier to scaling commercial EV adoption: access to viable financing. Financing and mobility veteran Sandeep Divakaran will helm the new venture as Co-founder and CEO.

Exponent Energy has built a deep energy ecosystem in commercial EVs by solving charging speed, battery reliability, and high-uptime operations resulting in deep energy intelligence in the real world of commercial mobility. While EV technology has advanced significantly, adoption continues to be constrained by access to viable financing.

Exponent One is designed to address this gap through a 360-degree underwriting and asset management platform built specifically for commercial EVs leveraging the above energy intelligence. This platform aims to bring financing parity between EVs and ICE commercial vehicles by offering adaptive financing and risk-sharing through assurance and buybacks. In partnership with traditional financiers, Exponent One intends to deliver large-scale EV financing for commercial operators. The financing arm to work exclusively with Commercial Electric Vehicles – three wheelers, four-wheelers/ LCV and buses/ trucks- supporting driver-owners and fleets from ownership to lifecycle management to upgrades.

Sandeep Divakaran, with over two decades of experience across intersection financial, leasing and mobility (CXO roles at Ola and evfin by Greaves), will lead the company as Co Founder and CEO to build-out a full-stack fintech and asset management platform.

Talking about the financing venture, Sandeep, said, “Commercial Vehicle driver-owners operate real-world businesses with daily variable earnings and limited buffers, yet lending models are still run on personal credit rails, with fixed monthly assumptions (EMIs). This rigid approach, focuses on only output metrics of timely payments, and hence fails the driver and leads to the ecosystem viewing commercial EV financing as risky.

At Exponent One, we believe in something fundamental: if the driver-owner fails, the system fails.

Our vision is to enable sustainable micro-entrepreneurship in electric mobility by building financing that adapts to real world earnings and not monthly averages, manages asset risk, provides buffers and gives drivers the confidence to switch and grow with EVs. Our adaptive lending model focuses on input metrics – asset quality, charging patterns, energy consumption, giving us the ability to differentiate between bad luck and bad intent and help support driver-owners through their circle of life.”

Built on Exponent’s energy intelligence, Exponent One’s AI-based adaptive financing stack enables access to livelihoods. Insurance is embedded to respond meaningfully to health and asset shocks, while assured buybacks create a strong secondary market that adds a critical layer of assurance for commercial vehicle owners and partner financiers. Savings, top-up loans, and upgrade opportunities support drivers’ aspirations to grow, progress, and move forward.

Elaborating further on the vision, Arun Vinayak, Founder and CEO, Exponent Energy, said,
“Energy in EVs is an upfront capex problem, hence viable-financing products are needed to transform this higher capex to meaningful opex benefits to the driver-owners.

Electric Commercial Vehicles are fundamentally energy assets. Our ability to influence battery life and manage them on a daily basis with real time energy data gives us an edge in understanding these assets better and in knowing their residual value. EVs are digital, earnings are digital and the energy stack with Exponent is digital, and all these input metrics layered with innovations in AI tech, enhances our ability to contextually underwrite and support the driver-owners through their circle of life. This is a first of its kind partnership, with energy and financing coming together to provide integrated adaptive finance and asset management solutions. We’re excited to have Sandeep lead this effort to build the financial layer needed to address the commercial EV financing gap.

Together, Exponent Energy will power the assets and Exponent One will power the driver-owner.“

Exponent One has also raised $2 million in pre-seed funding from AdvantEdge Founders to accelerate the early rollout and expand its presence across key commercial EV hubs, bringing adaptive financing to a wider base of driver-owners.

Kunal Khattar, Founder, AdvantEdge Founders, said, “Commercial EV scale in India isn’t just a technology challenge; it’s a data and capital challenge. Lenders must understand how these assets actually earn and age to unlock true scale. At AdvantEdge, we’re backing Exponent One because they’ve replaced ICE-era assumptions with real-time operational intelligence, aligning financing with daily earnings and long-term asset performance. By building a durable financial layer tailored to the EV ownership lifecycle, they are addressing the core risk mismatches that have held this industry back. We believe this is the missing piece that will finally move electric fleets from pilot to mass adoption.“

Bangalore, Feb 18th: Students from Karnataka were recognized among national winners at the OpenAI Academy x NxtWave Buildathon finale at the India AI Impact Summit, held at Sushma Swaraj Bhavan, New Delhi. LineLens built by students from MS Ramaiah Engineering College secured 4th position for creating an AI-driven CRM research workspace powered by agentic AI. LineLens converts a researcher’s browser into an intelligent CRM workspace that automates discovery, outreach, and collaboration tracking through agentic AI. Karnataka’s representation reinforces the strong pipeline of industry-ready AI student talent from the state.

Organized as a flagship pre-summit initiative under the Ministry of Electronics and Information Technology’s (MeitY) IndiaAI Mission, the Buildathon brought together more than 70,000 young innovators in 7 states – Delhi, Rajasthan, Andhra Pradesh, Telangana, Maharashtra, Karnataka, and Tamil Nadu around the country. Identifying talent from universities through regional rounds across, the buildathon underscored the depth of India’s AI capabilities beyond metropolitan hubs. 90 teams advanced to the national finale, where they were evaluated by a distinguished jury comprising Raghav Gupta, Head of Education, India & Asia Pacific, OpenAI; Sandeep N, GTM APAC, OpenAI; Dr. Buddha Chandrasekhar, Chief Coordinating Officer, AICTE, Ministry of Education and Saharsh Sharma, VP, Chiratae Ventures along with industry leaders from JP Morgan Chase and Make My Trip. The review process prioritized the effective use of Large Language Models (LLMs), scalability, and system architecture, ensuring that student innovations translated into practical, deployment-ready solutions.

Guest of Honor Rama Lanka Devi, Lead Architect, Niti Frontier Tech Hub, Niti Ayog said, “India’s youth are not just learning AI, they are the first generation of AI nation-builders. And when they build with purpose, transformation becomes inevitable.”

Speaking at the national finale, Rahul Attuluri, CEO and Co-Founder of NxtWave, said, “With the OpenAI Academy x NxtWave Buildathon, we built the country’s largest GenAI challenge for students under the India AI Impact Summit 2026. Together with OpenAI, NxtWave is contributing to India’s mission of developing the largest pool of young AI talent. It’s a proud moment to see students from across regions present practical AI solutions on a global stage, and we will continue to expand this initiative to reach more cities and learners.”

Bonnie Chatterjee, Global Head of AI Deployment Engineering, OpenAI, said, “India is rapidly becoming a global epicenter for AI talent. What truly sets this ecosystem apart is the shift from experimentation to application. Students are building solutions rooted in reality, tackling everything from rural healthcare to agricultural yields. Through the OpenAI Academy, we’re bridging the gap between classroom theory and real-world impact, proving that Indian innovation is practical, essential and inclusive.”

By mobilizing talent to solve challenges rooted in their own regional contexts, the initiative ensured that AI innovation is not just imported but indigenous, reinforcing the Summit’s mandate for inclusive, impact-led adoption at scale. Winning teams were awarded a total prize pool of ₹10 lakh, along with ecosystem support to scale their innovations reinforcing the buildathon’s focus on innovation.

Bangalore, Feb 18th: The Class of 1990 of Indian Institute of Technology Kanpur returned to campus to celebrate their Coral Jubilee Reunion, marking 35 years since graduation.

The reunion brought together alumni from across India and abroad to reconnect with classmates, revisit their campus memories, and renew their shared bond with their alma mater.

As part of the Coral Jubilee celebrations, the Class of 1990 announced a collective pledge of ₹13.2 crore toward the institute’s academic, research, and student-focused initiatives. The commitment reflects the batch’s deep sense of gratitude and its forward-looking vision to contribute meaningfully to the institute’s continued growth and impact.

The reunion program included interactive sessions with institute leadership, faculty, and students, along with presentations on ongoing developments in research, innovation, and infrastructure. Alumni also shared reflections on their formative years at the institute and the long-term influence of their education and campus experiences.

Speaking on the occasion, Prof. Manindra Agrawal, Director, IIT Kanpur, said, “The institute takes immense pride in the accomplishments and continued engagement of the Class of 1990. Their Coral Jubilee Reunion is not just a celebratory milestone but a powerful expression of their lifelong connection with the institute. Their generous pledge will significantly strengthen scholarships, promote research excellence, and support institutional advancement, helping shape opportunities for future generations of students.”

Prof. Amey Karkare, Dean of Resources and Alumni, IIT Kanpur, added, “The Class of 1990 truly represents the spirit of sustained alumni engagement. Coming together to contribute collectively at this milestone reflects both gratitude and responsibility. Such support enables the institute to expand scholarship programs, establish endowed Chairs to advance research, and develop infrastructure aligned with our long-term strategic vision.”

Reflecting on behalf of the batch, Mr. Rajeev Ranjan, Batch Coordinator, Class of 1990, noted that the class’s Silver Jubilee contribution of ₹70 lakhs had grown to ₹1.5 crore and continues to support scholarships. He shared that the batch has now exceeded its Coral Jubilee target of ₹13 crore, emphasizing that the milestone represents not just a financial achievement but a collective expression of gratitude to the institution. The new commitment will further strengthen scholarships, enable innovation through endowed Chairs across departments, and contribute to unrestricted funds for infrastructure development. He expressed confidence that the Class of 1990 will remain actively engaged with the institute in the years ahead.

The Coral Jubilee Reunion concluded on a note of nostalgia, camaraderie, and renewed purpose. The institute expressed its appreciation to the Class of 1990 for their continued commitment and looks forward to their ongoing partnership in advancing education, research, and innovation.

Mumbai, Feb 18th: The Indian Hotels Company Limited (IHCL), India’s largest hospitality company, today announced the signing of a SeleQtions hotel in Devanahalli, Bengaluru, a conversion of a standalone resort with expansion of inventory to 120 keys.

Ms. Suma Venkatesh, Executive Vice President – Real Estate & Development, IHCL, said, “Bengaluru is among the fastest-growing cities in the country, powered by its thriving IT and entrepreneurial ecosystem. North Bengaluru, particularly Devanahalli, is witnessing rapid development driven by the expansion of the airport and the presence of sectors such as aerospace, biotechnology, defence and education. The signing of this hotel, the first SeleQtions in Bengaluru, will cater to this growth and expand our brandscape in this key lodging market. We are delighted to partner with BABA Developers Private Limited for this project.”

The 115-key SeleQtions Prakruthi Resort, Devanahalli, Bengaluru, will feature an eclectic culinary offering, including an all-day diner, a specialty restaurant, a bar and a lounge. Guests can enjoy wellness and recreational facilities such as a spa, gym and swimming pool. The hotel will also offer expansive banqueting facilities spanning over 6,000 sq. ft., supported by versatile meeting rooms, making it an ideal venue for social and corporate events.

Mr. Parvataneni Sasibhushan, Managing Director, BABA Developers Private Limited, said, “We are delighted to partner with IHCL to bring the SeleQtions brand to Bengaluru and create a distinctive hospitality experience in Devanahalli.”

With the addition of this hotel, IHCL will have 20 hotels in Bengaluru, including 11 under development.