Companies & Startups
Tata Communications on October 26, 2026 unveiled a plan to invest roughly $400 to $450 million over three to five years to lay about 10,000 kilometres of long haul fibre connecting India’s data centre corridors and AI hubs. The move aims to capture a large share of growing data centre connectivity demand and position the company as a backbone for AI services in India.
A fresh funding roundup published October 24, 2026 shows Indian startups captured roughly $190 million in equity across mid‑October rounds, led by a $50 million healthtech Series B and several consumer and AI deals. The inflows signal steady investor interest focused on healthcare, consumer brands and applied AI even as large late stage checks remain rare.
Venture investment in Indian startups slowed in the week ending October 23, 2026, with deal value down and fewer headline rounds. Managed care provider Even Healthcare accounted for the week’s largest disclosed raise, as investors stay selective amid macro uncertainty.
CureBay, the hybrid rural healthtech chain, has raised about Rs 100 crore in a pre Series C round led by IvyCap Ventures, combining equity and debt to scale clinics, enter southern markets and deepen AI screening capabilities.
Jio Platforms, the digital arm of Reliance Industries, saw its anchor investor book oversubscribed by roughly 30 times on October 20, 2026, underscoring strong institutional appetite ahead of the company’s ₹30,213 crore public offer that opens for retail bids on October 21. The response tightens the spotlight on India’s primary market and reshapes expectations for capital flows into the technology and telecom sectors.
Even Healthcare closed a $50 million Series B on October 19, 2026, led by Khosla Ventures and participation from Alpha Wave, valuing the Bengaluru startup at about $300 million as it shifts from partnership-led care to operating its own hospitals across the city.
NetApp announced the 15th cohort of its Excellerator programme on October 16 and multiple outlets updated coverage on October 17. The intake includes startups from India and highlights growing domestic strength in enterprise AI, generative AI security and workflow automation.
Managed AI company RapidCanvas closed a $29 million Series B led by Vertex Ventures Southeast Asia and India, with Hitachi Ventures and existing backers joining. The round, announced October 16, 2026, will fund go to market expansion and hiring of field AI engineers across India, the United States and Brazil.
Jio Platforms has filed its Red Herring Prospectus and fixed a price band that would make its share sale the biggest in Indian history. The offering is structured as a fresh issue, with most proceeds earmarked to retire subsidiary debt, reshaping Reliance’s capital structure and testing investor appetite for a major domestic tech listing.
Google.org has pledged a $15 million programme with Indian action institute The/Nudge to develop AI toolkits, market access and credit-readiness solutions for micro, small and medium enterprises, a move that could reshape digital inclusion for millions of informal and small businesses across India.
Bengaluru-based Tonbo Imaging sold secondary shares worth about ₹413 crore to domestic institutional investors ahead of a planned October IPO, signalling strong local appetite for homegrown defence suppliers and testing pricing expectations for a full offer for sale.
L&T Finance has launched the second edition of Pitch Point, an AI startup competition that will select five finalists to pitch at RAISE 26 in Mumbai, offering prize money, proof of concept opportunities with L&T Group companies, and access to its innovation fund.
DailyObjects closed a mixed primary and secondary Series C on October 10, 2026, at about a Rs 1,050 crore valuation. The raise, led by Xponentia, Anicut and Axiom Asia, funds an aggressive offline expansion and deeper product R and D as India’s lifestyle accessories market matures.
Persistent Systems announced on October 9, 2026 that its subsidiary secured an overwhelming stake in Nagarro after the offer period ended, taking control of roughly 94 percent of the European digital engineering firm. The deal marks one of the largest overseas acquisitions by an Indian IT company and reshapes market footprints in Europe and North America.
Jupiter Wagons said its JEM Energy unit has won a 41 MW, 102.5 MWh battery energy storage system contract from Uttarakhand Power Corporation and received a Letter of Award for a 50 MW, 200 MWh project in West Bengal, underlining the companys fast pivot into grid-scale storage and a target of a Rs 1,000 crore BESS order book by FY27.