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Startup news and updates: Daily roundup (May 18, 2026)

Startup news and updates: Daily roundup (May 18, 2026)

Your Story 1 day ago

YourStory brings you today's headlines with the latest developments across sectors.

Featured stories

Hindumbi Kaurom Kakkada, the nurse who has been part of Lakshadweep's healthcare story for over 5 decades

At 80 years old, Hindumbi Kaurom Kakkada unfailingly clocks in at 8 am for her nursing duties at the Indira Gandhi Hospital in Kavaratti, Lakshadweep. She retired once, technically at 60. But three months later, she was back, this time as a contract nurse. She works every day except Sundays. If there is an emergency on Sunday, she will still come. If there are cases in the middle of the night, she is ready.

"It's God's will. And I will continue working as long as I can," she tells HerStory.

In Hindumbi's extraordinary 53-year career, aatmartatha (sincerity), discipline, and dedication have been key. She has supported over 20,000 surgeries and emergency cases in one of India's remotest regions.

Funding news

Nothing But raises seed funding

Nothing But, a fruit-snacking startup founded by five international student founders from India, Mexico, Bolivia, and Ecuador, has closed its seed funding round.

The round was led by Atul Rajani and Deeksha Rajani, Co-founders of The Be Life; Sifat Khurana, Founder & CBO of Innovist; and Dhruv Bhasin, Co-Founder of Arata; with participation from Gaurav Khatri, CEO & Co-Founder of Noise, and Saurav Adlakha, Founder & COO of DailyObjects.com.

The capital will be used to strengthen manufacturing and supply capabilities, expand distribution across quick commerce and online marketplaces, and support new product development.

Owners ID raises pre-seed round

Jesintha Louis

Owners ID, an India-built smart recovery-tech startup, has raised $260,000 in a pre-seed funding round led by Dubai-based venture capital firm Crucifer Investments.

The Bengaluru-based startup plans to will use the capital to accelerate product development, strengthen its technology stack, scale manufacturing, enhance its mobile app, build AI-powered recovery capabilities, expand brand visibility, and drive global growth.

Founded by Jesintha Louis, who earlier built and exited enterprise cloud company G7 CR Technologies following its acquisition by Noventiq, Owners ID was born out of a simple but widespread problem: most lost items are never returned because there is no easy or secure way for finders to contact the owner.

Other news

Urban women spend more time online than men across entertainment, ecommerce: Report

Women in urban India are spending more time than men across several high-engagement digital categories, including entertainment, messaging, ecommerce, and quick commerce, according to the India Digital Behaviour Report 2025-26 by VTION and the Internet and Mobile Association of India.

Based on data from more than 100,000 consented smartphones representing over 407 million urban Indians, the report found that women consistently outpace men in time spent across most major digital categories, with the widest engagement gap seen on commerce platforms.

According to the report, urban women spend an average of 82.4 minutes a day on entertainment platforms, with usage peaking among those aged 25-34 at 86.3 minutes daily.

TVS VENU to take a stake in Jana Small Finance Bank

TVS VENU has agreed to acquire a minority stake in Jana Small Finance Bank Limited through a mix of primary issuance of warrants and secondary purchases of equity.

The company will buy up to a 9.9% stake in Jana Small Finance Bank, with 4.9% held by TVS Motor Company, subject to regulatory approvals.

The transaction will be completed upon receipt of the necessary approvals and fulfilment of the customary closing conditions.

Cars24 launches high-stakes AI hackathon

Cars24 has launched Token '26, its high-stakes AI hackathon. This event will bring together 50 engineers, selected through a rigorous shortlisting process, for a 72-hour individual AI challenge with a Rs 20 lakh winner-take-all prize.

The initiative is backed by OpenAI, ElevenLabs, and Amazon Web Services, with participants building production-grade AI systems to solve real-world marketplace problems.

Registrations are now open on token.cars24.com

Paytm launches UPI payments solution for teenagers

Paytm has launched Paytm Pocket Money, enabling teenagers to make UPI payments without owning a bank account. The service allows parents and trusted family members to provide controlled spending access through UPI Circle by NPCI, while monitoring transactions in real time.

Parents can set monthly spending limits, with individual payments capped at Rs 5,000 and a total monthly limit of Rs 15,000 across the UPI network. The feature is available on savings and current accounts, with restrictions on international transactions and cash withdrawals.

Paytm has also introduced safety measures, including a Rs 500-cap on transactions for the first 30 minutes after activation, a mandatory device lock, and instant revocation of access via the Paytm UPI PIN. Payment history remains accessible within the Paytm app for enhanced transparency and parental oversight.

NSRCEL partners with HDFC Bank to support fintech startups

NSRCEL, the startup incubator at the Indian Institute of Management Bangalore, has partnered with HDFC Bank Parivartan to support fintech startups delivering measurable financial impact in India. The initiative, under NSRCEL's Fintech Centre of Excellence and backed by the Karnataka government, focuses on startups across lending, payments, insurance, regtech, embedded finance, and wealthtech.

Following a joint evaluation process, 10 startups, including Entitled, Dhiway, Finsall and GreenFi, were selected for grant support under the HDFC Bank Parivartan Program. Beyond funding, participating startups will gain access to industry experts, regulators, investors, and ecosystem partners through tailored engagement programmes aimed at improving market readiness and business growth. The initiative seeks to expand access to formal financial services for underserved communities across India.

Citizens Financial Group marks one year of Hyderabad GCC with 1,000 hires

Citizens Financial Group, in partnership with Cognizant, has completed one year of operations at its Hyderabad Global Capability Centre (GCC), achieving a milestone of 1,000 hires. Launched in 2025, the GCC has emerged as a key innovation hub, supporting the company's cloud modernisation, AI platforms, cybersecurity, and digital engineering initiatives.

Citizens said the next phase of expansion will focus on advanced AI, data and digital engineering capabilities, with continued hiring planned over the next two years. The company is also investing in future talent development by supporting Mahatma Jyotiba Phule Residential Degree College for Women in Telangana. The initiative will provide digital infrastructure, AI training, and career-readiness support to more than 700 women students from underserved communities to help them pursue careers in technology.

NTT DATA to acquire Microsoft partner WinWire

NTT DATA has signed a definitive agreement to acquire WinWire, a Microsoft partner specialising in agentic AI, Azure-based AI, data engineering and cloud-native development. The acquisition is aimed at strengthening NTT DATA's enterprise AI strategy as demand for AI-driven cloud transformation grows. Following the deal, WinWire will contribute more than 1,000 Azure engineers and Microsoft specialists to NTT DATA's global Microsoft practice.

The expanded capabilities are expected to help NTT DATA accelerate the delivery of production-ready AI solutions across industries. The company said the acquisition reinforces its leadership as Microsoft's Global System Integrator Growth Champion Partner of the Year and enhances its ability to operationalise AI at scale through advanced data platforms, agentic AI solutions and modern cloud applications.

PRO FX Tech reports 37% revenue growth in FY26

PRO FX Tech Limited has reported audited financial results for FY2025-26, posting a 37% rise in revenue to ₹177 crore, while net profit increased 24% to Rs 15 crore. The company attributed the performance to strong brand partnerships, rising demand for premium products, and disciplined execution across retail and B2B operations.

PRO FX said it managed macroeconomic uncertainty and currency headwinds through operational efficiency, cost management, and a sharper focus on high-value customer segments. Demand for premium and experience-led purchases also contributed to growth during the year. The company's premium corporate clientele included major business groups such as Adani Group, Reliance Group and Tata Group.

PRO FX operates in the home audio-visual and integrated AV solutions segment and continues to expand its presence in India's premium consumer electronics market.

MOAR Advisory appoints Sridhar Krishnan as COO

MOAR Advisory has appointed Sridhar Krishnan as the chief operating officer to strengthen its advisory capabilities across Global Capability Centres, enterprise transformation and operational excellence.

Krishnan brings over two decades of experience from organisations including Goldman Sachs, Deutsche Bank, Fidelity Investments, H&M Group and Amagi, where he served as Vice President and Global Head of Talent Acquisition. His expertise spans financial services, retail and high-growth technology sectors, with experience in GCC strategy, shared services and global business scaling. At MOAR Advisory, he will focus on streamlining operations, enhancing organisational structure and supporting enterprises across the GCC lifecycle.

(This article will be updated with the latest news throughout the day.)


Edited by Swetha Kannan

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