Startup news and updates: Daily roundup (August 7, 2026)

Aule Space, a Bengaluru-based startup, is developing a satellite fuel extension system dubbed "jetpack" to prolong the lifespan of satellites, preventing the need for costly replacements. Meanwhile, omni-channel home and sleep solutions brand Wakefit reported stronger profitability in its first fiscal year, attributable to improved revenue growth and better gross margins, despite rising raw material costs.

Athleisure brand BlissClub secured Rs 160 crore in funding from India-focused alternative asset manager Singularity AMC, with co-founders Minu Margeret and Vidit Aatrey investing personal capital, alongside existing backers Elevation Capital and Eight Roads Ventures. Payment technology provider PayU collaborated with enterprise management platform Marg ERP to create Marg Pay, a digital payment solution for pharma distributors and MSME retailers.

IIT Madras faculty members Sujatha Srinivasan, Thalappil Pradeep, Deepa Venkitesh, Jitendra S. Sangwai, Ramakrishnan Swaminathan, and Sundargopal Ghosh were honored with the Anusandhan National Research Foundation's J. C. Bose Grant, which provides Rs 25 lakh annually for five years to fund frontier research. Bengaluru-based AI-powered entrepreneur network Private Community launched its Karnataka operations, focusing on supporting founders and business leaders through an AI-driven platform.

Lastly, Medi Assist Healthcare Services appointed Gaurav Bhatnagar as chief TPA officer, tasked with enhancing operational efficiency, technology adoption, member experience, and partnerships in the healthcare sector.