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Atomberg Technologies is gearing up for its public outing. The smart appliance disruptor has officially secured SEBI's green light to float its initial public offering, blending a Rs 450 crore fresh issue with an offer for sale of over 76.5 million equity shares. Known for transforming the mundane ceiling fan market with energy-efficient BLDC tech, the homegrown consumer tech maker is now preparing to test public market appetite for India's home appliance starups.

The company plans to use the proceeds from the IPO towards debt payment, investments into brand awareness and marketing, R&D and general corporate purposes.

In other news, the government has officially notified the National Social Security Board for unorganised, gig, and platform workers. Tasked with bridging longstanding social safety gaps, the newly-formed board will recommend, formulate, and oversee targeted welfare schemes tailored to the informal workforce.

Established under the statutory framework of the Code on Social Security, this marks a historic shift by integrating digital gig and platform professionals into India's formal welfare architecture, the ministry said.

Meanwhile, in the world of AI, Cursor has uncovered a malicious version of Anthropic's Claude Code extension lurking inside its marketplace, putting as many as 5,000 developers at risk. The compromised release, the version 2.1.313, is a sharp wake-up call to the growing security blind spots in modern AI tooling: as developers race to accelerate workflows, extension ecosystems are quickly becoming high-value targets for attackers.

The 5,000 figure represents potential exposure, not confirmed successful takeovers.

In today’s newsletter, we will talk about 

  • Binance hit with $6.3B breach
  • Delhivery reports net profit of Rs 41 Cr in Q2

Here’s your trivia for today: Which iconic paint manufacturer was founded in a Mumbai garage in 1942 by four friends during the Quit India movement to take advantage of temporary import bans? (Scroll down for answer)

Cryptocurrency

Binance hit with $6.3B breach

Binance has disclosed a massive security breach resulting in an estimated impact of $6.3 billion, with approximately $3 billion worth of digital assets frozen on-chain through coordination with industry partners. 

Preliminary findings indicated the breach began via a compromised DevOps engineer's laptop, granting the attacker access to a service container to execute unauthorised withdrawals. However, subsequent inquiries revealed additional breach points, confirming a much more sophisticated attack than an isolated exploit of a single employee's permissions. 

Key takeaways

  • Binance confirmed there is no evidence that wallet private keys were compromised.
  • The exchange has temporarily suspended withdrawals while undertaking a security revamp of its withdrawal service and related addresses.
  • Assuring customers that their assets remain safe, Binance said it would cover all losses arising from the incident through its Secure Asset Fund for Users (SAFU) and the company's own funds.

Startups

Delhivery reports net profit of Rs 41 Cr in Q2

Logistics company Delhivery swung to a profit of Rs 40.63 crore during the second quarter of FY27, compared to a loss of Rs 50.49 crore in the same quarter of the previous fiscal year. Revenue rose 19.8% to Rs 3,066.38 crore from Rs 2,559.3 crore in the year-ago period.

Key takeaways: 

  • Delhivery Local, an on-demand, intracity logistics and courier service, is now live across eight cities and is on track to exceed its previous guidance of an annual revenue run rate of Rs 250 crore by Q4FY27, along with improved contribution margins.
  • The company said early investments in AI are also showing results, with improved sales productivity and customer onboarding and faster resolution of claims and disputes and fraud detection.
  • Delhivery Robotics, an inhouse automation lab, has commenced production of customised autonomous vehicles for in-facility movement operations.

News & updates

  • Spacetech: Bengaluru-based spacetech startup Pixxel has set up Pixxel Federal, a US subsidiary aimed at expanding its business with American civilian, defence and intelligence agencies. The move reflects the growing role of privately operated satellites in government operations.
  • Electric vehicle: Hero MotoCorp plans to increase the production capacity of its Vida electric two-wheeler to 45,000 units by March-end and further boost it to 80,000 units by the second quarter of FY28, PTI reported citing a senior company official.

Which iconic paint manufacturer was founded in a Mumbai garage in 1942 by four friends during the Quit India movement to take advantage of temporary import bans?

Answer: Asian Paints

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