中文标题待翻译

Banking’s AI Investment Playbook

No longer content with buying AI tools, banks are moving to co-build and invest in AI startups. As partnerships deepen and automation reshapes banking jobs, are financial institutions rewriting the playbook for enterprise innovation?

Bankers’ Logic: Across the 50 largest global banks, investments in AI companies have grown at a 21% CAGR since 2023. But why? Financial workflows demand more than a standard software. Banks need systems adapted to their compliance requirements, risks and internal data. An investment or co-development arrangement gives them greater influence over product architecture and roadmap.

The Desi Model: Back home, financial institutions are actively backing domain-specific AI platforms. HDFC Bank and Canara Bank have invested in AI startup CoRover, while IDFC FIRST Bank’s partnership with Sarvam aims to develop a “self-improving bank” via frontier research and AI safety. Meanwhile, Bajaj Finance has set aside ₹1,500 Cr to back AI platforms.

Axis Bank and Kotak Mahindra Bank are also collaborating directly with specialised voice AI startups to build niche operational workflows that are difficult to replicate in-house.

Win-Win For All: Banks bring more than capital. They offer access to proprietary data, large customer bases, operational feedback and regulated environments in which AI systems can be tested. For startups, these assets can accelerate product development while providing credibility that is difficult to establish through conventional enterprise sales.

The Human Layer: The AI transition within banks is also changing the workforce. Axis Bank reduced its workforce by 3,100 employees in FY26, while other lenders have linked AI-related investments to productivity improvements and slower headcount growth. Yet as AI handles more decisions and workflows, human accountability becomes more and more important. 

As banks become investors, customers and co-developers, what does it mean for the domestic AI ecosystem? Let’s find out…

From The Editor’s Desk

Weekly Funding Rundown

• Indian startups cumulatively managed to secure $233.6 Mn last week, up nearly 15% from $203 Mn raised in the preceding week. However, deal count declined 23.8% week-on-week to 16. Simple Energy emerged as the most funded startup last week.
•  Cleantech topped the funding charts last week and attracted $180 Mn across just one round. Ecommerce yet again led in deal activity, with four startups collectively raising a mere $3.8 Mn.
• Early stage funding activity remained lukewarm as seed-stage and pre-seed startups raised $3.3 Mn across four deals. Alteria Capital emerged as the most active investor last week, backing three startups.

Kuku’s Profitable FY26

• The OTT platform reported a profit of ₹182.7 Cr in FY26 against a loss of ₹152.6 Cr in the year ago fiscal. The profitability came on the back of a deferred tax credit of ₹98.2 Cr and operating revenue zooming 6X YoY to ₹1,484.2 Cr.
• At the operating level, Kuku Technologies swung to an EBITDA profit of ₹82.9 Cr in FY26 from an EBITDA loss of ₹159.8 Cr in the year ago fiscal. Meanwhile, expenses continued to bite and surged 3.5X YoY to ₹1,421.8 Cr in the fiscal under review.
• The profitable show comes as Kuku is gearing up to list on the bourses. The startup has already received SEBI nod for its likely ₹2,500 Cr IPO, which could potentially value it at ₹15,000 Cr. It has raised over $156 Mn to date.

Bearish Week For Startup Stocks

• Of the 65 new-age tech stocks under Inc42’s coverage, 47 ended last week in the red and fell between 0.08% and 20.1%. The remaining 18 stocks gained between 0.17% and 22.55%.
• Zappfresh and Aequs emerged as the biggest gainers last week, while Turtlemint and ESDS shed the most. The combined m-cap of 66 new-age tech stocks, including recently listed Moneyview, stood at $153.61 Bn at the end of the last week. 
• The subdued performance unfolded against a weak market backdrop, with FII selling and crude oil concerns weighing on sentiment. Investors will now be looking for RBI’s policy decision, PMI readings and Q2 FY27 earnings for market cues next week.

AceVector All Set For Listing

• The Snapdeal parent is all set to list on the bourses today, bringing mixed gains for some of its early backers. SoftBank-backed Starfish is selling 2.76 Cr shares for about ₹88.3 Cr at a 0.08X return multiple.
• Nexus Venture Partners will book an average 0.4X multiple on its sold shares. However, individual shareholders like Kenneth Glass and Laurent Bernard Amouyal are sitting on 5.42X and 4.3X gains, respectively.
• AceVector’s ₹420 Cr public issue comprised a fresh issue worth ₹287 Cr and an OFS of up to 4.16 Cr shares. The issue values the company at about ₹1,741 Cr at the upper end of its ₹30-₹32 IPO price band. Its public issue was oversubscribed 4.93X.

Bitchat Goes Offline In India

• Both Google Play Store and Apple App Store have taken down the decentralised messaging platform following a government directive. Apple said that the takedown order was issued under Section 69A of the IT Act over content deemed illegal in India.
• Without specifying what content had triggered the takedown order, Apple further noted that beta-testing access via TestFlight has also been blocked. The app would, however, remain available on its App Store outside India. 
• Launched by Twitter founder Jack Dorsey in 2025, Bitchat is a messaging app that enables P2P communication through Bluetooth mesh networks without internet access. The app does not require users to make accounts and has no central identity system. 

Inc42 Markets

Inc42 Startup Spotlight

Solving Labour Shortage Challenge For Indian Factories

Factories can lose hours of production if workers are absent or demand suddenly spikes. Yet finding skilled blue-collar staff at short notice remains difficult. Factrika is turning this gap into an on-demand workforce platform that matches verified workers with factory shifts in real time.

Staffing For Factories: Founded in 2024, Factrika helps manufacturers source, deploy and manage workers by skill, location and shift timing. It offers same-day staffing, absentee replacement, project-based hiring and full-time recruitment. The startup claims to have so far completed 65,000+ shifts and can deploy workers within two hours of a request.

Factrika’s Gig Strength: The startup maintains a pool of more than 10,000 workers across over 20 skill categories, sourced through partnerships with more than 5,000 polytechnic institutes. Besides sourcing, the platform also coordinates deployment, tracks attendance digitally and manages payments. It is building a verified work history for each worker.

Focusing On Key Clusters: Factrika currently operates across major factory clusters such as Bhiwadi, Bawal, Kharkhoda, Gurugram and Bahadurgarh. Its customers include the likes of Lenskart, Asahi India Glass and Jubilant FoodWorks. Going forward, it plans to expand its team, scale tech stack and expand its presence.

So, can Factrika make on-demand staffing reliable enough for India’s factories?

Infographic Of The Day

India runs on two parallel dating markets: swipe-to-date apps and a much bigger matrimony industry your parents actually trust. From Flutrr to Aisle, here are the apps nobody’s parents have heard of yet…

The post The Rise Of Bank-Built AI, Weekly Funding Rundown & More appeared first on Inc42 Media.