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From the latest developments in AI in India to bringing cancer care for everyone, YourStory brings today’s headlines that highlight significant developments across industries.

Here’s a roundup of key stories:

Featured News

IndiaAI Mission receives 67 proposals to build indigenous AI models

The IndiaAI Mission has announced that it has received around 67 proposals as of February 15 for developing indigenous AI models. 

According to a PIB release, out of the total proposals, 22 are focused on foundational models such as Large Language Models (LLMs)and Large Multimodal Models (LMMs) and 45 on domain-specific Small Language Models (SLMs) targeting sectors like healthcare, education, and finance. 

The proposals were submitted in response to a Call for Proposals issued in January by the India AI Innovation Centre (IAIC), which invited startups and researchers to develop AI models trained on Indian datasets.

Latest News

Narayana Health, W Health Ventures, 2070 Health launch Everhope Oncology with $10M investment

Narayana Health, W Health Ventures, and 2070 Health have launched Everhope Oncology to improve cancer care in India. The initiative has secured $10 million in seed funding to establish medical and surgical oncology facilities in Delhi and Mumbai, with plans to expand to 10 cities over the next three years.

Everhope Oncology said it will focus on providing comprehensive cancer treatment, including chemotherapy, radiation, surgery, and palliative care. The new facilities aim to offer a patient-centric experience, ensuring shorter wait times and a comfortable treatment environment. Everhope will also provide care services such as mental health counselling, nutritional support, and pain management.

Funding News

Upedd adds CoinDCX CFO as angel investor

Upedd (Unified Platform for Entrepreneurial Development and Discovery) gets undisclosed amount of angel investment from CoinDCX CFO Abhinav Jain.

Upedd is a platform that supports entrepreneurship through training, mentorship, consulting, and pre-incubation programs. It offers structured training programs, hands-on mentorship, and strategic support for startups. Jain is also expected to make further investments in the organisation.

Other News

MyFi launches AI-powered credit against mutual fund holdings

MyFi, a SEBI-registered wealth management platform, introduced “MyCash,” a credit facility allowing users to borrow against mutual fund investments without liquidating assets, the company announced on Wednesday.

It offers instant loans between Rs 10,000 and Rs 5 crore at a 10.5% annual interest rate, positioning it as a lower-cost alternative to credit cards and personal loans.

The AI-driven platform enables users to access funds within 10 minutes through a fully digital process, with interest charged only on the utilized amount and no prepayment penalties. MyFi CEO Kiran Nambiar stated, “Access to liquidity should not come at the cost of long-term financial goals. Whether it’s covering a sudden medical bill or making a down payment on a home, we are ensuring investors stay in control.”

Investors retain ownership of their mutual fund holdings, which continue earning returns during the loan period. The service uses digital lien-marking to secure collateral, ensuring uninterrupted market exposure.

Folks Motors allocates Rs 500 crore for EV expansion

EV industry player Folks Motors on Thursday announced a Rs 500 crore capital expenditure (CAPEX) investment over five years under the Production Linked Incentive (PLI) scheme.

The investment will support EV warehousing parks, strengthen India’s EV supply chain, and boost domestic value addition to 50%. The company is deploying the CAPEX funds through Folks Funds, an AIF Category II fund. It is also leveraging a broader investment channel valued between $700–$800 million.

Under its investment strategy, it will form partnerships with major system manufacturers specialising in powertrain, electronic manufacturing services (EMS), energy storage, and system integration.

(The copy will be updated with the latest news throughout the day)