SWITCH Mobility Marks Largest EV Bus Export to Mauritius

SWITCH Mobility, a global manufacturer of electric buses and light commercial vehicles, part of the Hinduja Group, has completed the delivery of 100 electric buses to the Government of Mauritius, marking a significant milestone in the ongoing collaboration between India and Mauritius in advancing sustainable public transportation.

The final lot of 90 buses were handed over by Hon. External Affairs Minister of India, Dr. S Jaishankar to the Hon. Prime Minister of Mauritius, Dr. Navinchandra Ramgoolam as part of a broader Government-led engagement involving senior dignitaries from both nations. The buses were delivered through an open tender conducted by Convergence Energy Services Limited (CESL) in India and are operated by the National Transport Corporation (NTC), Mauritius' state-owned public transport operator.

This deployment represents the largest export of electric buses from India. The delivery follows a government to government arrangement, under which the 100 electric buses are being provided as a donation from the Government of India to the Government of Mauritius to promote clean mobility in the country. The initiative aims to support the modernization and sustainability of public transportation in Mauritius.

Designed for efficient public transportation, the SWITCH EiV12 integrates advanced engineering with intelligent technology to deliver high reliability, operational efficiency, and superior passenger comfort. With spacious seating for up to 45 passengers, the ergonomically optimized and meticulously manufactured bus meets global standards in performance, safety, durability, and reliability, making it ideal for modern urban commutes. Powered by SWITCH iON, the company’s proprietary telematics system, it enables real-time vehicle health monitoring, intelligent transport management, and fleet optimization. Floor-mounted lithium iron phosphate (LFP) batteries provide a low centre of gravity for improved stability. Additionally, a rear dual-gun charging interface supports faster turnaround times and efficient depot operations.

Commenting on the completion of the order, Mr. Ganesh Mani, CEO, Switch Mobility, said, "Mauritius is taking meaningful strides towards building a cleaner and more sustainable public transport system, and we are proud to be part of this journey. The completion of this 100-bus delivery marks an important milestone in strengthening the country’s transition to electric mobility, with tangible benefits for urban efficiency, environmental sustainability, and everyday commuter experience. As a global EV manufacturer building in India for the world, Switch Mobility remains committed to supporting Mauritius in shaping a greener, more resilient, and future-ready transport ecosystem."

The deployment aligns with broader environmental and urban development goals in Mauritius, focusing on reducing emissions and improving public transit efficiency. This export is seen as a milestone in SWITCH Mobility’s efforts to expand into global markets.

Government Launches ₹10,000 Cr Startup India Fund of Funds 2.0

The Government of India has officially notified the Startup India Fund of Funds 2.0 (FoF 2.0), with a total corpus of ₹10,000 crore aimed at mobilizing venture and growth capital for the country’s startup ecosystem. The scheme builds upon the success of the Fund of Funds for Startups (FFS 1.0) launched in 2016 under the Startup India Action Plan.

Key Features of Startup India FoF 2.0

• Corpus Size: ₹10,000 crore, spread across the 16th and 17th Finance Commission cycles
• Focus Areas: Deep tech startups, early growth stage startups supported by smaller AIFs, technology-driven and innovative manufacturing ventures, and sector/stage agnostic startups
• Selection Process: Screening by a Venture Capital Investment Committee (VCIC) comprising veterans from the startup ecosystem
• Oversight: An Empowered Committee (EC) will monitor implementation and performance
• Co-Investment Framework: Provisions for joint investments by Government and institutional investors with governance safeguards

Implementation

• Primary Agency: Small Industries Development Bank of India (SIDBI)
• Additional Agency: Another domestic implementation agency to be selected
• Investment Route: Contributions to SEBI-registered Alternative Investment Funds (AIFs) investing in entities recognized as startups by the Central Government

Strategic Impact

• Innovation: Strengthens India’s innovation-led growth agenda
• Manufacturing: Boosts technology-driven manufacturing capabilities
• Employment: Generates high-quality jobs
• Global Positioning: Positions India as a global innovation hub

Aligned with the national vision of Viksit Bharat @ 2047, FoF 2.0 represents the Government’s continued commitment to empowering entrepreneurs, fostering innovation, and unlocking the full potential of India’s startup ecosystem.

Notification

The official notification is available on the e-Gazette portal: View Notification

Gurugram-based Casey Aviation Secures TDB Grant to Build Hybrid Propulsion Test Facility in North India

The Technology Development Board (TDB), Department of Science & Technology (DST), Government of India, has signed an agreement with Casey Aviation Pvt Ltd, Gurugram, for the project titled “Boost Electric Jump Take-Off (BE-JTO).” The conditional grant is sanctioned under the India–UK Collaborative R&D Programme for Industrial Sustainability, in partnership with UK-based ARC Aerosystems Ltd.

Key Highlights

• Project Title: Boost Electric Jump Take-Off (BE-JTO)
• Partners: TDB, Casey Aviation Pvt Ltd (India), ARC Aerosystems Ltd (UK)
• Funding: Conditional grant under India–UK Collaborative R&D Programme

Objectives

• Develop advanced hybrid propulsion-based Jump Take-Off (JTO) systems
• Enhance operational capabilities of unmanned and light aircraft
• Establish a dedicated test bench facility for rotorcraft propulsion systems

Applications

• Regional connectivity in remote areas
• Disaster response and medical evacuation
• Unmanned logistics and surveillance operations

Strategic Importance

• First hybrid propulsion testing facility in North India
• Supports startups and developers in aerial mobility systems
• Facilitates commercialization of hybrid propulsion solutions

Rajesh Kumar Pathak, Secretary, TDB: Collaborative R&D initiatives under international programmes advance cutting-edge technologies in strategic sectors.

Casey Aviation Promoters, said, the project will validate technology in real-world conditions and accelerate scalable propulsion solutions.

The BE-JTO project marks a milestone in India’s aerospace innovation, combining hybrid propulsion, international collaboration, and ecosystem development to advance unmanned and regional air mobility.

About Casey Aviation Pvt Ltd

• Founded: Newly established aerospace venture based in Gurugram
• Founders: Pawan Kakkar and Air Marshal GS Bedi (Retd)
• Focus: Designing and developing small aircraft and specialized aviation solutions
• Expertise: Brings together industry, academia, and research institutions
• Notable Project: DevDoot Hybrid Air Ambulance – gyrocopter platform for emergency medical logistics
• Vision: To make regional and personal aviation accessible, eco‑friendly, and mission‑ready

Broader Impact

• Infrastructure Creation: Establishment of one of North India’s first propulsion testing facilities
• Innovation Boost: Strengthens India’s role in next‑generation aerial mobility and unmanned systems
• Ecosystem Benefits: Provides validated testing infrastructure for startups and developers
• Sustainability: Aligns with India–UK push for net‑zero aviation technologies

Humyn Labs Commits $20M to Build Human Data Infrastructure for Physical AI

Humyn Labs, an AI company developing human data infrastructure for physical AI firms worldwide, today announced a $20 million commitment to accelerate its objective of organising and validating human intelligence at scale.

The committed capital will be deployed across three key pillars to build the infrastructure powering next-generation Physical AI systems at Humyn Labs, co-founded by Manish Agarwal and Ishank Gupta.

At its core, Humyn Labs is scaling egocentric, source-first data collection, capturing first-person, real-world human activity through visuals and movements across commercial, agricultural, and residential environments in India, Southeast Asia, LATAM, and the Middle East. This includes how humans see, navigate, and physically interact with their surroundings, creating rich, context-aware datasets for training Physical AI systems.

Voice is emerging as a critical interface for Physical AI, powering real-world commands, inputs, and human-robot interactions. To support this, the company is expanding its voice data capabilities across 33 languages, dialects, accents, and code-switching patterns, ensuring that Physical AI systems can understand, interpret, and respond to human instructions with deep contextual and cultural accuracy.

Further strengthening this stack, Humyn Labs will launch its Robotics Labs to build high-fidelity simulation environments and world models seamlessly integrating real-world egocentric data with training frameworks to accelerate the deployment of intelligent, responsive, and globally adaptable Physical AI systems.

Manish Agarwal, Co-Founder, Humyn Labs, said, “Every real-world AI system will need continuous human data to train and validate, making this a foundational, always-on infrastructure layer. The demand is immediate and global. As Physical AI scales, we see Humyn Labs growing rapidly to serve this need at scale and becoming a key enabler of next-generation AI systems.”

Humyn Labs collaborates with frontier technology companies to convert signals from real-world communities into structured human data systems used to train and evaluate next-generation AI models. The diversity of physical environments, operational conditions, and edge cases that Humyn Labs draws from gives its validation infrastructure a distinct edge.

Ishank Gupta, Co-Founder, Humyn Labs, adds, “The world’s best AI models are only as good as the human intelligence behind them. Having operated across five continents, I can tell you - the Global South isn’t just where this data comes from, it’s where the future of AI is being built.”

The global AI training data market is projected to reach $25 billion by 2030, with Physical AI validation emerging as its most technically demanding and fastest-growing segment. Humyn Labs is building at that frontier as the infrastructure company that organises and validates the human data the industry can depend on.

From ₹15 to ₹10,887: SEBI Blocks 39 in RRP Semiconductor Stock Scam

SEBI has barred 39 individuals and entities from the securities market after uncovering alleged manipulation in RRP Semiconductor’s stock, which surged an extraordinary 725 times—from ₹15 to ₹10,887.10—within 19 months. The regulator flagged coordinated trading, preferential allotments, and misleading narratives as part of a pump‑and‑dump scheme.

SEBI has issued an official Interim Order (No. WTM/AS/IVD-2/ID20/32337/2026-27) in the matter of RRP Semiconductor Ltd. on April 10, 2026, barring 39 entities from the securities market. The Bombay Stock Exchange (BSE) also circulated a notice summarizing the order and listing the restrained parties.   

Key Details of the SEBI Action

• Date of Interim Order: April 10–12, 2026
• Entities Barred: 39 individuals and firms
• Company Involved: RRP Semiconductor Ltd.
• Stock Surge: From ₹15 to ₹10,887.10 in 19 months (a 725x increase)
• Regulatory Concerns: Coordinated trading, preferential allotment at ₹12 per share, misleading narratives, evidence from call records and financial transactions

Why SEBI Intervened

• Market Integrity Risk: Abnormal rise raised red flags
• Investor Protection: Prevent retail investors from being trapped
• Systematic Manipulation: Structured approach to inflate prices

Background on RRP Semiconductor

Originally focused on other businesses, the company shifted to semiconductors and issued preferential shares at ₹12 each. This narrative change, combined with coordinated trading, fueled the meteoric rise. The case highlights how sectoral buzzwords (like semiconductors) can be exploited to mislead investors.

Impact & Implications

Aspect	Details
Stock Price Movement	₹15 → ₹10,887.10 (19 months)
Entities Barred	39 individuals/firms
Regulatory Tool	Interim order under SEBI Act
Investor Risk	Pump‑and‑dump losses for retail investors
Evidence Used	Call records, financial transactions, trading patterns

Risks & Lessons for Investors

• Beware of unnatural surges—unsustainable growth
• Watch for preferential allotments before rallies
• Narrative manipulation using sectoral buzzwords
• Do due diligence on fundamentals before investing

Summary Table: SEBI Interim Order on RRP Semiconductor

Aspect	Details
Order Date	April 10, 2026
Order No.	WTM/AS/IVD-2/ID20/32337/2026-27
Entities Barred	39 individuals/firms
Promoters Named	Ira Mishra, Sumita Mishra, Ramesh Mishra
Trading Contributors	Multiplier, Pace, Neo
Individuals Linked	Chetan R. Shah, Bhavin Y. Mehta, Atul Goel, Nikhil Gupta
Restriction	No dealing in RRP Semiconductor shares

Takeaway

SEBI’s move underscores its increasing vigilance against market manipulation and highlights the importance of investor caution in speculative stocks. For retail investors in India, this case is a reminder to avoid chasing hype‑driven rallies and rely on fundamentals rather than narratives.