Rare earth shortage hits electronic component companies

While applications under the scheme have surged past 110 now, at least 10 firms have sounded out worries at a time when the industry is keen on expanding its production and export footprint, officials at the Ministry of Electronics and Information Technology (MeitY), and industry executives told ET.

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Cloud kitchen firm EatClub to raise Rs 185 crore from Tiger Global, A91 Partners, 360 One

According to filings with the Registrar of Companies, the company will use the funds for growth and expansion. The company, which runs brands such as Faasos and Behrouz Biryani, also saw a top-deck recast, with founder and CEO Jaydeep Barman transitioning into the chairman’s role—being replaced by founder Ankush Grover as chief executive.

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Setu strengthens top deck with senior execs from Razorpay, PhonePe, Wibmo

Pine Labs-owned fintech appoints Anand Raisinghani as CEO, brings in former leaders from Razorpay, Clear, and PhonePe across key roles.

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In earnings season, it's AI good, everything else, not so much

The AI spending surge is providing a big boost for semiconductor and software giants like Google parent Alphabet , while companies from airlines to restaurants and food manufacturers are struggling to navigate an erratic U.S. trade policy which is boosting costs, upending supply chains and hurting consumer confidence.

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Grok steps into prediction markets with xAI, Kalshi partnership

Kalshi is now partnering with Elon Musk's artificial intelligence company xAI to integrate Grok, xAI's advanced chatbot, into the prediction market experience.

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Infosys profit surges 8.7% on deals, Europe show

Infosys raised its lower-end growth forecast for the fiscal, with revenue expected to expand between 1% and 3% from the earlier 0-3%. The company is also gaining from increased adoption of artificial intelligence, top executives said. AI programmes are improving productivity between 5% and 15% and this is being partly passed on to customers, according to CEO Salil Parekh who struck an optimistic note at the company’s post earnings call on Wednesday.

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AI startup Olto raises $5.1 million from Nexus Venture Partners, The General Partnership

Afore Capital, Recall Capital, Ligature, FirstHand, and senior executives from companies like Amazon participated in the round. The fresh funds will be used to build new AI agents and scale its operations. Olto, which currently serves clients in the US, UK, and Canada, plans to expand into India.

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Europe revival helps IT survive quarter shocks

HCLTech, LTIMindtree, and Tech Mahindra gained new business from European clients, marking a revival for the region after three quarters of deal slowdown. Overall revenues in these companies rose in low single digits in the three months ended June.

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SpaceX warns investors Elon Musk could return to US politics, Bloomberg reports

The company added the language laying out such "risk factors" in paperwork sent to investors discussing a tender offer, according to Bloomberg.

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Telegram introduces built-in crypto wallet, bringing its users into mainstream blockchain

The Open Network (TON) is a decentralised, layer-1 blockchain platform developed by the Telegram team, led by the Durov brothers, to create a highly scalable and user-friendly blockchain ecosystem integrated with the Telegram app.

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New-age travel accessories platform Escape Plan raises $5 million from Jungle Ventures, Fireside Ventures

Launched in May 2025, the Bengaluru-based company sells travel bags and accessories for everyday as well as vacation travel. The fresh funds will be used to expand its retail footprint, acquire customers, and launch its quick commerce services.

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