Mistral AI launches enterprise coding assistant to rival GitHub Copilot

Mistral AI has introduced Mistral Code, a new enterprise-focused coding assistant designed to compete directly with GitHub Copilot. The tool offers on-premises deployment, robust data privacy, and deep customization for company codebases.

Built on the open-source Continue project, it features role-based access, audit logs, and 24/7 support, supporting over 80 programming languages. Mistral Code aims to address key concerns in enterprise AI adoption, particularly around security and seamless integration.

Hello Tomorrow spotlights 850 deep tech pioneers and award winners

The 10th Hello Tomorrow Global Summit in Paris showcased 850 pioneering deep tech startups, with Nūmi (France), spotLESS Materials Inc (USA), and Papcup (UK) winning top honors. The event highlighted breakthroughs in AI for drug formulation, carbon capture, and sustainable materials, while emphasizing the importance of global collaboration and strategic partnerships for scaling deep tech ventures.

Pixxel wins second iDEX grant to develop payloads for IAF

Pixxel, a Bengaluru-based space tech startup, has secured its second SPARK grant from the Ministry of Defence’s iDEX initiative to develop advanced hyperspectral and mid-wave infrared (MWIR) payloads for the Indian Air Force.

This funding, under the iDEX DISC 8 Challenge 6.2, will help Pixxel deploy its optical engineering and satellite manufacturing expertise to deliver next-generation, security-grade Earth observation technologies, enhancing India’s airborne and space-based imaging capabilities.

The grant builds on Pixxel’s prior selection for miniaturized multi-payload satellites and underscores the government’s growing confidence in indigenous innovation and Pixxel’s technology stack.

Hyperbots raises $6.5 million to automate finance with AI co-pilots

Hyperbots secured $6.5 million in Series A funding to expand its AI-powered finance automation platform. The startup’s “agentic” AI co-pilots handle complex accounting tasks, aiming to reduce manual work by up to 80 percent accurately, with a focus on fintech, the Indo-US startup said in a press release.

Nandan Nilekani renews support for AI4Bharat to boost India’s language AI infrastructure

Nandan Nilekani has committed a second multi-year grant to AI4Bharat, a research lab at IIT Madras building open-source AI models for Indian languages. Nilekani’s support recognizes AI4Bharat’s pivotal role in powering multilingual digital services across governance, finance, and agriculture, with its models adopted by platforms like Bhashini and the Supreme Court’s SUVAS.

The value of the grant was not specified in the press release, but multiple news reports peg his total commitment to AI4Bharat at Rs. 70 crore. That probably means the second grant was Rs. 34 crore, because his first grant was Rs. 36 crore in 2022.

Okay so, for those of you who might be interested, last week I brought you a roundup of noteworthy deep tech developments in India in 2025.

Are operators with experience better at startups?

Before I wrap up, here are some interesting findings from broader survey of Indian startups. A study by Traxcn, a private markets intelligence provider, commissioned by RTP Global, an early-stage VC firm, highlights an increase in operator-led startups in India, with 238 former operators founding ventures from 2022 to 2024.

These startups are outpacing peers by reaching seed funding faster, raising larger rounds, and securing more investor backing—especially in capital-intensive sectors like fintech, energy, and logistics. In 2024, operator-led startups raised $101 million, a 243 percent jump from 2023, accounting for 11.5 percent of all venture funding.

They also progress to Series A at higher rates and command higher valuations, indicating operational experience gives founders a decisive edge. The trend reflects a shift in India’s startup ecosystem, where founder expertise and execution are increasingly valued.

TruAlt Bioenergy gains OMC status, to launch 100 flex-fuel retail outlets across India

TruAlt Bioenergy, an ethanol producer, has secured ‘Oil Marketing Company’ (OMC) status, enabling it to retail fuels nationwide. The company will soon launch some 100 flex-fuel outlets in Karnataka and Maharashtra, offering ethanol, Bio-CNG, petrol, diesel, and EV services.

This move positions TruAlt among the first private biofuel firms with OMC authorisation, supporting India’s clean energy transition and rural development. TruAlt’s expansion is expected to generate 2,000 jobs and advance the country’s ethanol blending and sustainable mobility goals.

Eastman Auto & Power and Vande Bharat E-Vehicles sign ₹50 crore MoU to boost lithium-ion battery adoption in EVs

Eastman Auto & Power Ltd. (EAPL) has signed a Memorandum of Understanding with Vande Bharat E-Vehicles to supply lithium-ion batteries worth ₹50 crore annually for electric three-wheelers.

The partnership aims to accelerate India’s electric mobility transition by powering Vande Bharat’s E-Rickshaws with advanced batteries, making EV adoption more accessible for commercial drivers nationwide. The collaboration will also drive innovation in battery leasing and strengthen Eastman’s leadership in the e-rickshaw battery segment, supporting India’s clean energy and net-zero ambitions.

BEL, Metamind, and Persistent Systems sign MoU to deliver AI-driven software solutions across sectors

Bharat Electronics Limited (BEL), Metamind Systems, and Persistent Systems have signed a tripartite Memorandum of Understanding to jointly develop innovative software products and services in data analytics, artificial intelligence, machine learning, and cybersecurity.

The collaboration will target sectors including defence, healthcare, telecommunications, energy, and smart cities, with a focus on opportunities in India, the US, and Latin America. This partnership leverages BEL’s defence expertise, Metamind’s digital platforms, and Persistent’s global digital engineering capabilities to drive next-generation technology solutions across multiple industries.

IIT Madras launches School of Innovation and Entrepreneurship to boost campus startup ecosystem

IIT Madras has inaugurated its School of Innovation and Entrepreneurship to provide structured academic and research support for campus startups, Higher Education Review reports. The new school will offer programs, funding, and research opportunities, including an MS in Entrepreneurship starting July 2025, and aims to consolidate all innovation initiatives under one umbrella.

The school will also introduce IITM-specific funding mechanisms for startups and is considering new practice-led degrees and an ‘Innovation Doctorate.’ IIT Madras Incubation Cell supported 104 new startups in the fiscal year 2024–25, cementing the institute’s leadership in India’s deep-tech startup landscape.

Greaves Electric Mobility appoints Vikas Singh as Managing Director to drive next growth phase

In some news on top executive movement, Greaves Electric Mobility Limited (GEML), the electric vehicle arm of Greaves Cotton, has appointed Vikas Singh as its new Managing Director, effective 2 June 2025.

Singh, an alumnus of FMS, University of Delhi, brings extensive leadership experience from top Indian and multinational firms. He will oversee GEML’s management team and spearhead the company’s growth in India’s expanding EV market.