Dear Reader,
India’s data centre industry is poised for a five-fold expansion, with installed capacity expected to reach 7.5 GW by March 2030, attracting investments of more than Rs 3 lakh crore over the next four financial years, according to Crisil Ratings. Demand from generative AI, cloud adoption and enterprise digitalisation is driving the build-out. However, power connectivity, regulatory clearances and project execution will be crucial to keeping projects on track.
In other news, Bengaluru-based jewellery brand GIVA has raised $100 million in a funding round led by Multiples Alternate Asset Management. The company plans to use the capital to strengthen its leadership team, expand manufacturing and deepen its offline presence. It currently operates more than 400 stores across India and Sri Lanka, selling silver, gold and lab-grown diamond jewellery.
Meanwhile, Google has launched Dreambeans, an experimental AI-powered app in India that turns activity across selected services, including Gmail, Calendar, Gemini, Photos, Search and YouTube into personalised stories. Available to users aged 18 and above on Android and iOS, it supports 14 Indian languages.
In the drone sector, ideaForge returned to profitability in Q2 FY27, reporting revenue of Rs 91.3 crore, up 124% year-on-year, and a profit after tax of Rs 6.5 crore, against a loss of Rs 19.6 crore a year earlier. Its EBITDA stood at Rs 23.2 crore.
Yet progress in business remains uneven. Women hold 30.5% of management positions worldwide, according to an International Labour Organization survey covering companies in 99 countries. Their share has risen only gradually over three decades, despite gains in education, highlighting barriers to career advancement and unequal care responsibilities.
In today’s newsletter:
- India shines in Apple’s record September quarter
- VC funding into Indian startups plunges 66% in Oct
Here’s your trivia for today: Which team holds the record for the most Constructors’ Championships in Formula 1 history? (Scroll down for the answer)
News
Apple hits record India revenue in September quarter
Apple posted its strongest-ever September quarter revenue in India, with the country emerging as a key growth market amid robust demand for its devices. The performance was driven by record iPhone upgrades and Mac sales, alongside the launch of Apple Pay in India. Globally, the tech giant reported quarterly revenue of $114.48 billion, even as rising memory costs and supply constraints weighed on operations.
Key takeaways:
- Apple reported its highest-ever September quarter revenue in India, driven by record iPhone upgrades and strong MacBook demand.
- Quarterly revenue rose 11.72% year-on-year to $114.48 billion, while FY26 revenue increased 15.06% to a record $478.83 billion.
- Higher memory prices, advanced chip supply constraints and increased operating expenses put pressure on margins, despite strong iPhone and Services performance.
Funding
VC funding into Indian startups plunges 66% in October
Venture capital funding into Indian startups fell sharply in October, dropping 66% year-on-year to $581 million, according to YourStory Research. The decline was largely driven by the absence of large-value funding rounds, with Even Healthcare's $50 million raise emerging as the month's biggest deal. Despite the subdued month, startups raised $10.4 billion in the first 10 months of 2026, putting the ecosystem on track to match or exceed its 2025 funding total.
Key takeaways:
- Indian startups raised $581 million across 107 deals in October, down 66% from $1.6 billion in October 2025.
- Even Healthcare’s $50 million round was the biggest deal of the month. Late-stage funding stood at just $97 million, while growth-stage startups raised $250 million.
- D2C, healthtech and automotive were the top-funded segments. AI startups attracted just $42 million, highlighting the gap in India's AI investment activity.
News & updates
- Gaming: Cricket legend Sachin Tendulkar has joined Hyderabad-based Metasports Interactive, the maker of mobile cricket strategy game Hitwicket, as a strategic investor and brand ambassador. The company, which claims over 20 million users across 120 countries, aims to reach 100 million downloads in three years as it looks to expand its gaming portfolio.
- Gold demand: India’s gold demand is expected to fall to around 650 tonnes in 2026, its lowest level in six years, as record-high prices dampen jewellery purchases and investment demand. A weak monsoon, rising living costs and pressure on rural incomes are likely to further weigh on buying, despite a potential festive and wedding-season recovery in the December quarter.
Which team holds the record for the most Constructors’ Championships in Formula 1 history?
Answer: Ferrari, with 16 Constructors’ Championship titles
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