Startup And Fundraising 29 September 2026
India's Startup Scene Faces MDR, Funding Surges, and New Leadership
The Supreme Court has asked the government to clarify UPI's merchant discount rate, sparking debate over its tax status. Meanwhile, SAR Televenture now controls Tikona, major investors back AI startups, Gujarat Themis secures $58 million for a Japan deal, and Piyush Goyal will headline the ET Startup Awards as The Souled Store seeks new funds. Elevation Capital also leads a $6.7 million seed round in AI firm Dextr AI, underscoring a vibrant funding climate.
- Supreme Court probes UPI's merchant discount rate (MDR), questioning if it’s a tax or fee. (Read more)
- SAR Televenture lifts its stake in Tikona Communication to 70.17%, gaining voting control. (Read more)
- Accel, Elevation, and Lightspeed say India is open to AI investment, countering anti‑AI trade claims. (Read more)
- Gujarat Themis secures $58 million private credit for a Japanese acquisition, reflecting a 7% rise in tech funding. (Read more)
- Piyush Goyal to headline ET Startup Awards in Bengaluru, while The Souled Store eyes fresh fundraising. (Read more)
- Elevation Capital leads a $6.7 million seed round in Dextr AI, highlighting growing AI startup interest. (Read more)
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