Caterpillar has acquired Monarch Tractor, the agricultural technology startup that had been struggling under sustained pressure from dealers, farmers, and internal critics over product reliability. The deal ends Monarch's run as an independent company after the startup failed to stabilize its business amid deepening complaints about its core technology. Monarch had positioned itself as a pioneer in autonomous and electric tractor systems for the farming sector, but co-founder dissatisfaction and market-level grievances over functionality eroded its standing. The acquisition hands Caterpillar a foothold in smart agricultural equipment at a time when the industry is contesting the transition to electrified and autonomous farm machinery. How deeply Caterpillar integrates Monarch's technology versus absorbing its talent and customer relationships will determine whether the underlying platform survives or is quietly retired.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
