OpenAI Agents Go Rogue, FYDY Eyes $12 Mn & More

OpenAI Agents Hit Wikimedia

OpenAI is under fresh scrutiny over its “rogue” agents. Wikimedia Foundation claims that the AI juggernaut’s agentic system made unauthorised edits on its platforms, crashed its query services and generated millions of automated requests. So, why is the episode raising alarm bells?

Rogue AI Vs Wikipedia: The non-profit said that it found unauthorised edits as well as potentially malicious changes to a citation tool’s configuration. OpenAI agents also tried exploiting its Etherpad tool to access other websites and generated millions of API and WDQS queries. This possibly contributed to the Wikipedia outage in May. 

The foundation found no evidence of data compromise but warned that such scale imposes significant costs on public internet infrastructure.

OpenAI’s Safety Gap: The AI giant said that it was reviewing Wikimedia’s findings but offered no acknowledgment or responsibility. This fits into a broader pattern. OpenAI has faced repeated criticism in the past few months after its agents bypassed safety controls and accessed Australia’s Medicare system and Hugging Face infrastructure. As such, these incidents have revealed gaps in real-time monitoring and transparency at OpenAI. 

The Hidden Vectors: The latest episode comes as AI is accelerating cyber threats, enabling rapid exploitation and hyper-personalised attacks. Deepfakes can bypass KYC, while attack timelines have shrunk from weeks to hours. Meanwhile, automated agents continuously scan and exploit vulnerabilities in real time, outpacing human response teams.

The New Security Playbook: Experts warn that traditional safeguards built around isolated testing are inadequate for agentic AI. Defenders are shifting from periodic audits to continuous threat exposure management, least-privilege access and resilience-first design. As agents grow more autonomous, here is how the latest Wikimedia row has raised concerns over OpenAI’s safeguards… 

From The Editor’s Desk

Fuzzy Dynamics Eyes $12 Mn

• Currently in stealth mode, the frontier AI startup is in advanced talks to raise about ₹115 Cr in its maiden funding round. Lightspeed Venture Partners and General Catalyst are exploring co-leading the round, which could peg the startup at a $50 Mn valuation.
• Founded in 2025, FYDY claims to be developing “cognitive machines” that learn from experience. Its long-term goal is to build safe artificial superintelligence capable of acting autonomously in the real world. Its AI research studio is currently in private beta. 
• The funding talks come amid growing VC interest in AI startups that cater to research and enterprise applications. As per Inc42 data, AI startups raised $438 Mn across 35 deals in Q3 2026, up 265% YoY, making AI the most funded sector. 

AITMC Files UDRHP

• The drone tech startup has filed its updated DRHP with SEBI for an IPO, which will consist entirely of a fresh issue of up to 3.5 Cr shares. This comes nearly ten months after it received SEBI’s nod to go ahead with its listing. 
• Founded in 2016, AITMC Ventures manufactures drones and offers courses for drone pilots and technicians. It claims to have so far trained 1 Lakh candidates and sold 190 drones. The startup reported a profit of ₹13.4 Cr in FY26 against a top line of ₹106.8 Cr.
• Separately, Swara Baby Products, a contract manufacturer of hygiene products and a subsidiary of FirstCry’s parent Brainbees Solutions, has received approval from the SEBI to float its proposed ₹1,000 Cr IPO.

Tracking FY26 Founder Salaries

• Sixteen founders across 10 startups earned a combined ₹43.4 Cr in fixed remuneration in FY26, up 8.2% from ₹40.2 Cr in the year-ago fiscal. Of these, 12 founders saw an increase in fixed pay, three saw reductions, and one reported unchanged remuneration.
• Lenskart cofounder Peyush Bansal drew the highest fixed remuneration in FY26 at ₹5.7 Cr. Meesho cofounders Vidit Aatrey and Sanjeev Kumar followed with ₹4.8 Cr each, while Paytm founder Vijay Shekhar Sharma received ₹4 Cr, unchanged from FY25.
• However, fixed pay tells only part of the story. Peyush Bansal received ₹12 Cr in bonuses and performance incentives. Meanwhile, Swiggy’s Sriharsha Majety reported an ESOP gain of ₹549.3 Cr, while Kapil Bharati of Delhivery recorded ₹6.9 Cr in ESOP gains.

StockGro To Raise ₹110 Cr

• The IPO-bound investment tech startup is raising $10.4 Mn in its ongoing Series B round led by existing backer BITKRAFT Ventures. The startup’s board has approved issuing 14,004 Series B CCPS to investors at ₹78,668 apiece.
• While BITKRAFT is infusing ₹60.1 Cr, Aditum Venture Capital Fund is pumping in ₹23.1 Cr. Rest of the amount will be contributed by India SME Growth Fund, Systematix Fincorp and other angel investors. 
• This comes weeks after StockGro’s parent AssetGro Fintech Ltd filed its DRHP with SEBI via the confidential route. The startup is looking to raise up to ₹2,500 Cr via the IPO, which is likely to include a fresh issue of ₹800 Cr and an OFS component. 

Govt’s ₹10,000 Cr SME Fund

• The Union Cabinet has cleared a proposal for setting up a ₹10,000 Cr SME Growth Fund to unlock growth credit for small and medium enterprises. The fund will back SMEs across manufacturing, services, technology and innovation-driven sectors.
• Under the framework, the government will commit ₹10,000 Cr to alternative investment funds (AIFs), which will subsequently invest in high-potential SMEs. This will help businesses expand operations, adopt new technologies and enter international markets.
• As per the Economic Survey 2025-26, the MSME sector accounts for nearly 31.1% of India’s GDP. With over 7.47 Cr enterprises employing over 32.82 Cr persons, the sector is the second-largest employer in the country after agriculture.

Inc42 Markets

Inc42 Startup Spotlight

Can Procurio Make Manufacturing In India Less Chaotic?

In India, finding suppliers for manufacturing is the easy part. But ensuring they meet quality standards, fulfil deadlines and manage export paperwork is much harder. Procurio is addressing this execution gap with its one-stop-shop sourcing platform for businesses.

Beyond Discovery: Founded in 2025, Procurio helps global companies source and manufacture engineering parts in India. Unlike a supplier directory, it takes responsibility for qualification, pricing, production, inspection, documentation and delivery. The startup claims to work with 400+ local suppliers across aerospace, defence and energy. 

A Single-Window Platform: The startup’s workflow begins with understanding a buyer’s requirements. Procurio then assesses feasibility, shortlists suppliers, negotiates quotes and oversees production. It also conducts quality inspections, manages export documentation and coordinates shipping. 

Growing Global Traction: Procurio serves 12 clients across the US, Canada, the UK and Europe. The startup, which supports both standard components and custom-built parts, earns money from commission on each order, depending on the project complexity. It competes against the likes of deep-pocketed giants such as Zetwerk and Karkhana. 

With the homegrown contract manufacturing market projected to cross $49.4 Bn by FY30, can Procurio connect global manufacturers with India’s supplier ecosystem?

Infographic Of The Day

Owning a car in India is still deeply personal. As cars become more expensive, consumers are also spending more to keep them looking newer and cleaner. Here is how car care is emerging as a new, booming D2C category…

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