Startup news and updates: daily roundup (August 12, 2026)

Tata Sons Chairman N Chandrasekaran resigned from his position, with the board not unanimously agreeing to keep him in the role. He had been the chairman of Tata Sons, the holding company of the $400-billion Tata Group, since February 2017. Ola Electric secured a five-year Production Linked Incentive (PLI) window under the government scheme, with incentives up to Rs 7,240 crore.

Electric mobility-as-a-service startup Yulu raised $93 million in its largest funding round, led by GEF Capital Partners. The capital will be used to quadruple its active fleet to 200,000 electric vehicles in the next two years. Bengaluru-based children's technology startup Wippi raised $1.2 million in seed funding to develop voice AI and expand its direct-to-consumer business.

Tech-enabled driving education platform Lane raised Rs 8.5 crore to expand its instructor network and sensor-based driving behavior technology. Quarkitech, based at IIT Madras Research Park, raised Rs 2 crore in pre-seed funding to develop sensor data compression technology for defense and aerospace applications. KshatraLabs secured investment to advance autonomous counter-drone systems, with its HAWK interceptor designed to neutralize hostile UAVs.

PayU launched an RBI-compliant accessible payment checkout for blind and visually impaired users, compliant with India's accessibility mandate. BLive and Tata Motors signed an MoU to deploy up to 1,000 electric mini trucks in enterprise logistics operations.