Startup news and updates: Daily roundup (February 3, 2026)
Featured stories
Why STT rate revision is causing panic among stock market traders and brokerages
During the Union Budget, Finance Minister Nirmala Sitharaman announced a significant increase in the Securities Transaction Tax (STT) levied on derivatives trading, causing quite a stir among traders and brokerages, which will come into effect from April 1, 2026.
YourStory explains what this means for traders and brokerages.
Read the full story here.
How The Istri Project is helping ironing vendors switch from coal to LPG and increase their income
For years, roadside ironing vendors have worked through smoke and soot from coal-fired irons, impacting their health and earnings. The Istri Project by Udhyam Vyapaar, under the Udhyam Learning Foundation, helps them switch to LPG—cutting costs, cleaning the air they breathe, and boosting income.
Read the full story here.
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Latest news
MobiKwik swings to profit in Q3 on cost-cutting measures
Digital payments firm MobiKwik has posted a profit after tax of Rs 3.94 crore in Q3 FY26, reversing a loss of Rs 55.75 crore in the same period a year earlier, as the company sharply reduced key operating costs despite modest top-line growth.
The fintech platform’s revenue from operations rose 7.23% to Rs 288.94 crore from Rs 269.47 crore in Q3 FY25, according to its financial statements.
Read the full story here.
OpenAI, Snowflake announce $200M AI partnership
ChatGPT maker OpenAI and cloud-based data platform Snowflake have announced a $200-million multi-year partnership to bridge the gap between artificial intelligence (AI) and the proprietary data held by global organisations.
By integrating OpenAI models natively into the Snowflake platform, the collaboration seeks to provide a secure environment where businesses can build and deploy high-impact AI agents.
SpaceX acquires xAI as Musk plans to push AI ambitions into orbit
Elon Musk-led SpaceX has acquired xAI, bringing the billionaire’s artificial intelligence (AI) venture under the same corporate roof as his rocket and satellite business.
The move is a strategic step to couple advanced AI with SpaceX’s launch and satellite infrastructure.
Read the full story here.
Funding news
Loop AI raises $14 M in Series A round led by Nyca Partners
Loop AI, an enterprise AI platform focused on back-office operations of restaurants and retail businesses, has raised $14 million in a Series A funding round led by Nyca Partners.
The round also saw participation from Gokul Rajaram, Base10, Afore Capital, Converge, Alumni Ventures, Data Tech Fund, John Pepper, 9Yards Capital and Operators Studio. Osama Bedier, investment partner at Nyca Partners and a former executive at Google and GoDaddy, will join Loop AI’s board as part of the investment.
Equirus InnovateX Fund participates in Neverinstall’s seed round
Early-stage venture fund Equirus InnovateX Fund has participated in Neverinstall’s seed round. Neverinstall is a cloud PC platform that enables enterprises to stream any application to any device through a web browser.
The seed funding will be used to accelerate deeptech infrastructure development and strengthen enterprise security capabilities.
Neverinstall has appointed Ramesh Gopal Krishna, a sales leader from Microsoft, Meta and Salesforce, as the chief revenue officer.
Regeno raises funding from Yohan & Michelle Poonawalla of the Poonawalla Group
Tamil Nadu-based Regeno has raised funding from industrialists and philanthropists, Yohan and Michelle Poonawalla.
The funding will be used to accelerate the company’s ability to deliver sustainable materials at scale, expand its research, and bring regenerative packaging solutions to industries.
Other news
Ashiana Care Homes partners with Epoch Elder Care to strengthen senior care
Real estate developer Ashiana has partnered with assisted living and dementia care provider Epoch Elder Care.
Under this partnership, Ashiana will help develop purpose-built senior living communities with Epoch Elder Care’s operational expertise in assisted living, evidence-based care, and caregiver-led service delivery.
Epoch Elder Care will assume full operational responsibility for Ashiana Care Homes in Bhiwadi, bringing its clinical protocols and person-centred care model to the facility, ensuring residents receive structured, personalised medical and non-medical care within a secure and supportive environment.
ImagiNxt 2026 partners with MeitY Startup Hub
ImagiNxt 2026, India’s Festival of Technology and Innovation, has entered into a partnership with MeitY Startup Hub (MSH).
As part of the collaboration, MeitY Startup Hub will contribute to ImagiNxt 2026’s startup-led programming, policy conversations, and curated ecosystem engagements, enabling deeper participation from founders, innovators, and ecosystem institutions.
Scheduled for May 22–23, 2026 at Jio World Centre, ImagiNxt 2026 is being built as a global convening where technology, enterprise, policy, science, and creativity intersect, with a strong emphasis on scalable, inclusive, and future-ready innovation.
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