Startup news and updates: daily roundup (February 23, 2026)

From the major announcements at the AI Impact Summit to UK women entrepreneurs driving 1,000 km from Chennai to Goa to fund vaccines and classrooms, YourStory brings you today’s headlines from across sectors.

Featured stories

India AI Impact Summit: major announcements at a glance

New Delhi became the centre of the global artificial intelligence (AI) conversation last week as the India AI Impact Summit brought together industry leaders, policymakers, and startups from around the world between February 16 and 20.

Here’s a quick roundup of the key investments, product launches, partnerships, and policy commitments announced during the summit. Read more here.

UK women entrepreneurs will drive 1,000 km from Chennai to Goa to fund vaccines and classrooms

On March 3, a convoy of auto rickshaws will start from the Chennai suburb of West Tambaram, with 35 women entrepreneurs from the United Kingdom, embarking on a 1,000-kilometre journey to Goa. Its mission: women steering their own three-wheelers across Indian cities and highways to raise funds.

Read more here.

Funding News

Hycosys raises $1M from MGF Kavachh to develop hydrogen-compatible micro gas turbines

Bengaluru-based deeptech engineering startup Hycosys has raised over $1 million (approximately ₹9 crore), in a seed funding round led by MountTech Growth Fund–Kavachh. The company said the capital will be deployed to strengthen the engineering team, access advanced testing facilities, to develop a micro gas turbine (MGT), and demonstrate a working clean energy alternative to diesel-based power generators by mid-2027.

Founded by aerospace engineering duo Dr Tapish Agarwal and Ugandhar Reddy, Hycosys is developing a fuel-flexible MGT with applications across Distributed Power, Aerospace and Mobility. The MGT is essentially an advanced propulsion system or jet engine capable of running on 100% hydrogen, natural gas, or blended fuels.

IAN Alpha Fund leads $3M funding round in Mojro for Global Expansion

IAN Alpha Fund, the second venture capital fund from the IAN Group, has led a $3 million funding round in Mojro, a SaaS platform focused on B2B logistics planning and optimisation. The round also saw participation from 1Crowd and existing investors.

The company said the funding will be used to expand its presence in the United States and Southeast Asia, further develop its AI-led optimisation platform, and add to its product, engineering, and sales teams in India and overseas.

Founded in 2016 by Kishan Aswath, Amit Kulkarni, and Ranganath Seetharamu, Mojro develops software for logistics planning used by mid- to large-sized enterprises across sectors such as consumer goods, retail, courier and parcel services, dairy, and ecommerce. The platform is designed to help companies plan routes, manage deliveries, and improve operational efficiency.

MyDesignation Raises Rs 40 Cr in Series A funding led by RPSG Capital Ventures and Veltis Capital

Direct-to-consumer fashion brand MyDesignation has raised Rs 40 crore in a Series A funding round led by RPSG Capital Ventures, with participation from existing investor Veltis Capital, which increased its stake in the company. Existing investors Multiply Ventures and Dominor Investments also took part in the round.

The company said the funds will be used to expand its offline retail presence through company-owned stores, strengthen its leadership team, and introduce new product categories.

Founded in 2020 by Swaroop Krishnan and Gopika B Raj, MyDesignation operates as a digital-first brand selling primarily through its own website. The company also runs five exclusive brand outlets located in Bengaluru, Kochi, Thiruvananthapuram, and Kozhikode.

MyDesignation sells directly to customers rather than through third-party marketplaces, managing its own pricing, distribution, and customer experience.