STARTUP INDIA SEED FUND SCHEME
EPFO total contributions expected to rise by 25% in 2027-28 due to wage ceiling increase
EPFO is forecasting a major increase in its total contributions for the financial year 2027-28. The wage ceiling has been raised to ₹25,000 from ₹15,000, effective September 17. Total contributions for the current year are estimated to exceed previous budgeted amounts significantly. Additionally, the board will consider investing up to 3% in alternative investment funds.
ETtech Deals Digest: Eloelo leads as weekly funding rises to $142 million, down 35% on-year
Eloelo led deal activity with $80 million, followed by Peppermint Robotics at $10.6 million, altM at $10.3 million, Two Point O Capital at $10 million, and PowerUp Money at $10 million. Crane Venture Partners was among the most active investors, backing Peppermint Robotics and Armatrix. Omnivore invested in altM and Two Point O Capital, while Flourish Ventures backed PowerUp Money.
Intel's former CEO Pat Gelsinger says this Georgia Tech memory chip could be the industry's biggest breakthrough in 30 years; what is it and how could it transform AI industry?
Nagare Labs was founded by Georgia Institute of Technology professors and researchers Suman Datta and Shimeng Yu. They spent years working on next-generation memory technologies. Their work involves oxide semiconductors. The company is based on research conducted at Georgia Tech and is seeking to turn its laboratory developments into a commercially viable memory product.
Scripbox shareholders approve conversion into public company ahead of IPO
At an extraordinary general meeting on October 19, shareholders approved the change of the Accel-backed startup's name from Scripbox Wealth Managers Private Limited to Scripbox Wealth Managers Limited, along with amendments to its constitutional documents, according to regulatory filings reviewed by ET.
Best small cap mutual funds to invest in November 2026
According to the Sebi mandate, small cap schemes must invest in companies that are ranked below 250 in terms of market capitalisation. These schemes also will have to invest at least 65% in small cap stocks. Small companies go through many ups and downs - more than the established companies in the large and mid cap segments. That is why investing in small cap stocks is considered extremely risky; the small cap segment can also be extremely volatile, especially in the short term. That is why small cap schemes are recommended only to aggressive investors with a very high risk appetite and very long investment horizon.
Manipur Chief Minister announces new handloom department at MANITEX 2026 to boost local artisans
Manipur Chief Minister Yumnam Khemchand Singh has announced a future upgrade for the Handloom and Handicrafts sector. The government is considering establishing a full-fledged department dedicated to this important economic area. During his speech at the Manipur International Textile Expo, he emphasized the sector's contribution to the state's identity.
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Sebi relaxes cash market settlement rules for mutual funds
Securities and Exchange Board of India has permitted mutual fund schemes to net fund obligations. This new regulation is set to come into effect starting April 1, 2027. It allows net settlement of funds at the individual scheme level while maintaining gross settlement for securities. Fund obligations cannot be adjusted across different schemes, and inter-scheme funding remains prohibited. Proceeds from outright sales must be funded separately for non-outright obligations.
Ex-Ultrahuman executive launches AI ring startup Aina for agentic interactions
The startup said it is positioning the device as an alternative interface to smartphones for everyday interactions with AI systems. It has spent the past 15 months developing the product and is now opening pre-orders globally, with prices starting at $399 (about Rs 36,000), the startup said in a statement.
Cosmoserve Space raises $6 million, sets up India's first space debris removal facility in Hyderabad
The facility comprises an orbital rendezvous and capture lab, a space robotics innovation lab, an ISO Class 8 satellite integration clean room and a mission simulation and control centre. It will enable the company to design, build and test robotic capture systems and develop capabilities for satellite servicing, including in-orbit repairs and refuelling.
Sebi approves net settlement of cash market trades for mutual funds
India’s Securities and Exchange Board of India (SEBI) has greenlit the introduction of net settlement for mutual fund schemes, set to take effect on April 1, 2027. This initiative is designed to streamline funding requirements and boost market efficiency. Previously, net settlement was exclusive to foreign portfolio investors. Eligible transactions will now be confined to sales or purchases of a specific security, while cross-scheme netting will remain prohibited.
Vikas Khemani’s Carnelian Mutual Fund raises Rs 632 crore through small-cap NFO, attracts over 30,000 applications
Vikas Khemani's Carnelian Small Cap Fund received over 30,000 applications worth Rs 632 crore in its maiden NFO. Nearly 45% of applications came from beyond the top 30 cities, while 21% opted for systematic investment plans.
Sequoia Capital restructures operations after raising $10 billion, shuts London office
In a bold move, Sequoia Capital is undergoing a major restructuring by shutting down its London office and disbanding the Arc accelerator and Scouts programs. These changes come amid a leadership shift and a focus on selective investing. With approximately $10 billion raised in new funds, Sequoia is committed to backing European founders, albeit from its Bay Area hub.
Best mid cap mutual funds to invest in October 2026
As per Sebi norms, the mid cap mutual funds are mandated to invest in companies that are between 101 and 250 in the market capitalisation. These companies can be leaders of tomorrow. That’s what makes them great bets. If these companies live up to the promise, the market will reward the investors handsomely.
altM raises $10.3 million to scale production of specialty chemicals from agricultural waste
Founded in 2022 by former Tesla manufacturing executives Apoorv Garg and Yugal Raj Jain, altM develops specialty chemicals and biomaterials by converting agricultural residue such as sugarcane bagasse and rice straw into industrial inputs that can replace conventional fossil-derived materials.
Government prepares draft sustainable aviation fuels policy; moots mandatory blending in ATF from 2027
The civil aviation ministry has circulated the draft National Policy on Sustainable Aviation Fuels which mandates use of only indigenously manufactured SAF to be blended with Aviation Turbine Fuel (ATF).
NPS rule changes from December 1, 2026: PFRDA clarifies how NPS schemes should be named and displayed on PoP platforms
PFRDA has updated its framework governing the classification and presentation of schemes under the National Pension System. The changes will come into effect on December 1, 2026, clarifying scheme naming and display rules.
AI sales startup Nooks secures $500 million in funding for expansion
Unlike traditional investors that buy a stake in a company, General Catalyst's commitment involves taking a share of the returns its capital helps generate, Nooks CEO Dan Lee said. He declined to give details on the terms of the deal.
Gig workers may get social security benefits through 2% transaction levy on businesses
The government is considering implementing a 2% transaction-based levy on aggregators to support social security for gig workers. This levy will fund benefits such as insurance, health, and maternity support for over 12 million workers. There is a consensus that this approach ensures fairness among different types of aggregators. The new scheme is expected to be launched in 2027, requiring gig workers to meet specific work criteria.
Best large cap mutual funds to invest in November 2026
One may invest in large cap mutual funds with a minimum investment horizon of five to seven years. Look out for our monthly updates where we keep discussing the performance of these schemes. We typically come up with our updates in the first or second week of every month.
Chip startup Agrani Labs looks to raise $108 million from Peak XV, Google, Samsung
Peak XV Partners is leading the round and is expected to contribute more than half of the total funding. Google, HCL Tech, Samsung Ventures and Stargazer, an investment firm set up by Groww's founders, are also expected to participate, the people cited above said.
Azim Premji Foundation launches Social Startups Programme to build grassroots NGOs
The initiative seeks to address a key gap in the social sector where many professionals have extensive experience working with communities but often lack the financial backing, mentorship and institutional support needed to start their own organisations, the Foundation said in a press release.
Gulf investors eye India’s AI infrastructure and space tech even as broader interest stays subdued
Gulf-based investors are exploring opportunities in India's artificial intelligence and space technology sectors, despite overall subdued interest. Yotta, a data centre operator, successfully raised $150 million earlier this year for expansion plans. Pixxel Space Technologies is also seeking funding in the UAE to capitalize on growing investor interest in technology. The Indian rupee's depreciation has contributed to the cautious investment sentiment among broader market participants.
Tax-wise, $-foolish: Saving Dalal Street could come at a cost to Startup Street
India's financial landscape is experiencing pressure with foreign portfolio investors becoming net sellers in the market. There are discussions about implementing tax cuts to stabilize the situation, which could disadvantage domestic investors. A focus on only listed shares may divert investments from private markets and harm the startup ecosystem. Expert suggestions advocate for a universal tax reduction applicable to both listed and unlisted shares.
In 2026, Sonya Jin and Aadi Nashikkar-led Phinity Labs raised $5.2 million to let AI agents design computer chips from text prompts
Phinity Labs has raised $5.2 million to develop AI agents that can design computer chips from text prompts. Founders Sonya Jin and Aadi Nashikkar want the technology to explore chip architectures beyond conventional engineering methods. Backed by Uncork Capital, Moxxie and investors including Jeff Dean, the startup plans to build a system that tests designs using physical feedback and improves them before manufacturing.
ETtech Deals Digest: Even Healthcare, Different lead October funding to $694 million, down 51% on-year
Even Healthcare led deal activity during the month with $50 million, followed by Different at $48 million, Boldfit at $41.5 million, Baba Care at $40 million and GreenCell Mobility at $34.5 million. Early-stage deals accounted for 61.9% of the capital raised during October, while late-stage transactions made up 19.4%. Seed-stage companies comprised the remaining 18.7%.
PM-KISAN 24th instalment today: PM Modi to disburse Rs 2,000 each to farmer beneficiaries; check eligibility and how to complete eKYC
Prime Minister Narendra Modi will release the 24th instalment of Rs 2,000 of the PM Kisan samman yojana scheme today in Gujarat. Farmers eagerly awaited this payment, which is crucial for their agricultural needs and expenses. Eligible farmers must complete their eKYC to receive this instalment, which is mandatory according to the PM Kisan portal guidelines.
Is EPFO set to invest in startups, AIFs? Report says provident fund body is working on guidelines
Employees' Provident Fund Organisation plans to establish rules for investments in alternative investment funds. The organization is considering allocating up to 3% of new annual accretions to AIFs for diverse investments.
EPFO plans to invest in startups, AIFs five years after govt approval
The Employees Provident Fund Organisation is working on guidelines for investing in alternative investment funds for better portfolio diversification. The proposed allocation could be up to 3% of fresh annual accretions to these funds. This decision follows recommendations for EPFO's participation in the Startup India Fund of Funds 2.0. Proposed safeguards will include limits on individual fund exposures and minimum corpus requirements.
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