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In today’s newsletter:

• Startups' plea against Google dismissed
• Byju's loan talks drag on
• Manufacturing startups find a home in Peenya

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Have you ever needed permission to go out, done all the hard work to please your dad, only to be told that you need to check with your mom?

• If so, you are not alone. Several domestic internet companies are in the same spot

The Madras High Court has dismissed 14 of the 16 pleas from Indian startups and tech companies that challenged Google's recent app billing policy. The petitioners included Bharat Matrimony, Shaadi.com, Unacademy, Truly Madly, and Pratilipi.

• The two remaining pleas, from Disney+ Hotstar and Testbook, are likely to be dismissed

The court held that, since these companies were alleging abuse of dominant position by the tech giant, the antitrust watchdog, the Competition Commission of India (CCI), would have the jurisdiction to determine the matter.

• Also, any order passed by the CCI would apply to all businesses, unlike these pleas, which would only apply to the specific company, the court said

In May, Google began enforcing its contentious Play billing policy over app developers in India.

• The company claims that the new, tweaked policy complies with the CCI's antitrust directives, although local startups dispute this claim

A key change was that app developers were now allowed to offer an alternate billing system for in-app purchases alongside Google Play’s own billing system, for a lower fee.

• Google warned developers that they could be delisted from the Play Store if they didn't use any of its billing options. This led to companies taking legal action

Meanwhile, the CCI said it needs to investigate whether the new policy complies with their earlier directives in May.

Go deeper

Just as the curtain was about to fall on the Byju’s-lenders drama with a potential happy ending, the two sides missed their self-imposed timeline for a conclusion.

Byju's and a majority of its term-loan lenders were unable to reach an amendment to their $1.2 billion loan agreement by August 3, the target date that the two parties had set for themselves.

• However, from what we understand, the talks are still headed in the right direction, and it won't be long before we hear from the two parties

Byju Raveendran will be holding a call with lenders next week, when a potential sign-off could happen.

The delay is uncalled for Byju's and only adds to the uncertainty faced by the edtech company. For one, the company is struggling to close a much-needed funding round.

Additionally, Davidson Kempner, a US-based asset management company (AMC), has held back a majority of its loan to Byju's as the company's talks with its lenders have not progressed as expected, which was one of the terms of the loan.

• In fact, Davidson Kempner has begun rejigging the board of Aakash, Byju's most valuable asset, and has inducted four new members 

Earlier this week, we reported that Byju’s had turned to one of its earliest backers, Ranjan Pai, to explore an investment in Aakash. 

Find out more

Startups typically resonate with fancy offices, swanky buildings, and cool hangout spots.

• However, some of India's emerging manufacturing startups want to go traditional and get their hands dirty

For them, Bengaluru's oldest industrial area of Peenya is the perfect, cozy home!

Peenya industrial area is Southeast Asia's largest manufacturing hub, home to many large and small manufacturing companies in industries such as precision goods, engineering, and electrical goods. 

In recent years, Peenya has also become a hub for startups in the manufacturing space. There are an estimated 10-20 such startups operating out of Peenya, including Ati Motors, Ethereal Machines, and Optimized ElectroTech  

“Peenya is creating a holistic ecosystem where there is no need to set up a factory and head office in different places…Talent across junior and senior levels want to work here,” said Saurabh Chandra, cofounder and CEO of Ati Motors.

Manufacturing startups in Peenya are starting to attract venture capital (VC) attention. In the last six to seven months, VCs have invested close to $18 million in these startups.

Peenya is attractive to startups for its many advantages, including cost-effectiveness. But there is more:

• Top infrastructure: Namma Metro connectivity and proximity to Yeshwanthpur railway station
  
  
• Cost-saving: Startups can save money on rent and electricity by building in industrial spaces instead of commercial ones
  

Go deeper

• Meta has released a new AI tool called AudioCraft that can create high-quality audio and music from text descriptions.
  
  
• Microsoft has started the rollout of Copilot, its AI assistant for Windows 11, to Windows 11 Insiders in the Beta Channel.

Are you looking for a thrilling true-crime documentary to binge this weekend? Or maybe you're in the mood for some cosmic adventure? Well, look no further!

The Hunt for Veerappan is a biographical true-crime docu-series that explores the untold story of India's infamous outlaw. For nearly two decades, Veerappan was the subject of India's longest and costliest manhunt. Stream it on Netflix

If you're looking for some cosmic adventure, then Guardians of the Galaxy Vol. 3 is the way to go. It follows Peter Quill aka Star-Lord and the other Guardians as they rally up their team to save one of their own and defend the universe against High Evolutionary. Watch it on Disney+Hotstar 

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