Published: 8 October 2026
StartupFeed Quick Take
- Ola Electric prices its Rs 999.74 Cr rights issue at Rs 27 a share
- RBI wants account aggregator interoperability live by 31 December 2026
- Green SM has now put nearly Rs 238 Cr into its India arm
The Morning Five for Thursday, October 8, 2026: what happened in Indian startups since yesterday.
1. Ola Electric prices its rights issue at Rs 27 a share
Ola Electric set the price of its Rs 999.74 Cr rights issue at Rs 27 a share, in an exchange filing after market hours on 7 October. That is 26% below the day’s close of Rs 36.32. Shareholders get two shares for every 25 held on the record date of 13 October. The issue runs from 22 October to 30 October. Rs 16.20 is payable on application.
Who should care: If you hold Ola Electric shares, you must be on the register by 13 October or your stake gets diluted for nothing.
2. RBI sets 31 December for account aggregator interoperability
The Reserve Bank of India will make NBFC account aggregators interoperable, its Statement on Developmental and Regulatory Policies of 7 October says. A customer will then share financial information from any provider through the account aggregator of their choice. SEBI-regulated depositories will also carry bank deposit data in the Consolidated Account Statement. Both changes are expected to be in place by 31 December 2026.
Who should care: If you build lending or wealth products on account aggregator rails, your consent flows need rebuilding before 31 December.
3. Lumio raises $12 Mn for TVs, projectors and speakers
Consumer tech brand Lumio has raised $12 Mn in a Series A led by Blume Ventures, its parent Circuit House Technologies said on 7 October. Stellaris Venture Partners and 3one4 Capital put in more money. Lumio crossed Rs 100 Cr in gross merchandise value within 13 months of selling, and reaches 35,000 households across more than 5,000 pin codes. Launched in 2025.
Who should care: If you sell home electronics, a funded Indian brand is about to move from online only into offline retail.
4. Green SM puts another Rs 152.65 Cr into its India arm
Vietnam’s Green SM has pushed Rs 152.65 Cr into Green SM India Private Limited, through a rights issue of 15.27 crore shares at Rs 10 each. The regulatory filings show the allotment to parent GSM Green and Smart Mobility Joint Stock Company. We counted the June infusion of Rs 85 Cr alongside it: nearly Rs 238 Cr into India in four months. The Vingroup arm runs electric cabs in Delhi NCR.
Who should care: If you drive for Ola or Uber in Delhi NCR, a well-funded all-electric fleet is buying its way into your market.
5. Quanfluence raises $10 Mn for a photonic quantum computer
Bengaluru deep tech firm Quanfluence has raised $10 Mn led by Chiratae Ventures, with Pi Ventures and Rainmatter by Zerodha joining, its funding statement of 7 October says. The money builds a full-stack photonic quantum computer from its own chips, electronics and software. Early processors are due in 2027, larger machines in 2029. Six founders started it in 2021 at the IIT Madras Incubation Cell.
Who should care: If you work in quantum or photonics research in India, this is one of the few domestic hardware teams now hiring at scale.
That’s all for this morning. See you tomorrow.
Have a tip? Write to us at editorial@startupfeed.in.
Liked this story? Follow StartupFeed on Google so our reporting reaches you first.
