News in 60 Words

MakeMyTrip Files Confidentially For India IPO

Business • Gaurav Bagur

MakeMyTrip has confidentially filed for an India IPO of its subsidiary, MakeMyTrip (India) Limited, via an offer for sale by its US parent and Singapore-based subsidiary. The company aims to raise over $1 billion to strengthen its balance sheet, fund strategic acquisitions, and enhance brand visibility. This move would make it the second Indian travel tech firm listed in both the US and India, following Yatra.

Read Full Story

Business • Lokesh Choudhary

Jio Platforms reported a consolidated profit after tax of ₹7,764 crore for Q1 FY27, marking a 9.2% year-on-year increase despite a slight sequential dip. Operating revenue rose 11.8% YoY to ₹39,173 crore, while EBITDA grew 15.1% to ₹20,865 crore. Growth was driven by digital services, rising ARPU to ₹215.6, and a subscriber base of 533 million, although higher finance costs from 5G assets partially offset gains.

Read Full Story

Business • Shrishti Bisht

Zepto is preparing for an IPO with a projected post-money valuation of approximately $5.1 billion, down from its $7 billion peak. Despite concerns regarding cash burn and profitability, the offering has attracted strong institutional interest, with Norges and Motilal Oswal expected to hold 40-45% of the anchor book. The company plans to use IPO proceeds to expand its dark store network and enhance technology infrastructure.

Read Full Story

Business • Akshit Pushkarna

Insurtech company Turtlemint achieved profitability in the March quarter of FY26, reporting a consolidated net profit of ₹3.1 crore compared to a ₹39.4 crore loss in the same period last year. Operating revenue for the quarter rose 42% year-on-year to ₹357.2 crore. For the full fiscal year FY26, the company narrowed its net loss to ₹184.3 crore, while annual operating revenue grew 66% to ₹1,098.2 crore.

Read Full Story

Business • Palak Sharma

Meesho is an affordable e-commerce marketplace targeting semi-urban India, reporting ₹12,626 crore in FY26 revenue. Unlike competitors, Meesho employs a zero-commission model, instead generating income through logistics via its Valmo platform, seller advertising, and content services. After its December 2025 IPO, the company is focusing on reducing losses and diversifying into AI and financial services to achieve long-term sustainable profitability amidst high acquisition costs.

Read Full Story

Business • Lokesh Choudhary

The Reserve Bank of India has proposed a data governance framework making regulated lenders accountable for data handled by fintech partners. The draft requires banks and NBFCs to establish a "Single Source of Truth," ensure end-to-end traceability, and implement board-approved governance structures. While primarily targeting lenders, the framework will likely force fintechs to increase compliance spending and upgrade data architecture to meet stricter partner demands.

Read Full Story

Business • Inc42 BrandLabs

Smart appliances startup upliance.ai has launched a 12L Smart Air Fryer Oven, expanding into the large-family cooking segment. Priced at ₹15,999, the India-engineered appliance features proprietary "Texture Control" technology and a context-aware AI cooking assistant to replace traditional time and temperature settings. Available via Amazon and the company's website, the device uses a unified kitchen OS to ensure consistent results and moisture retention.

Read Full Story

Business • Shraddha Goled

"Indian startups are racing to comply with the Digital Personal Data Protection (DPDP) Act, with the first milestone arriving in four months. Non-compliance risks severe penalties up to ₹250 crore and potential operational damage. While regulated sectors are better prepared, many MSMEs struggle with data mapping and high implementation costs. Beyond fines, poor data governance may hinder fundraising and enterprise partnerships as investors prioritize regulatory readiness.".

Read Full Story

Business • Shrishti Bisht

WeWork India shares dropped nearly 10% after the company reported a Q1 FY27 consolidated net loss of ₹4.1 crore, despite a 28% revenue increase to ₹683.8 crore. Management attributed the loss to accounting transitions, noting an IGAAP-equivalent profit of ₹53.2 crore. With occupancy at 84.9%, the firm reaffirmed its FY27 growth guidance and plans to add 28,000 desks while diversifying into enterprise services.

Read Full Story

Business • Shrishti Bisht

Creditors of Think & Learn, the parent company of BYJU'S, have approved a settlement proposal to resolve a long-standing dispute over Aakash Educational Services' shareholding. Under the deal, lenders would acquire approximately 30% of Aakash at a $2 billion valuation and drop legal actions against founder Byju Raveendran. The National Company Law Tribunal has scheduled the next hearing for August 18 to finalize the ownership arrangement.

Read Full Story

Business • Anjali Jain

"OnEMI, the parent company of lending tech platform Kissht, has received AMFI authorization for its subsidiary, Invincible Minds, to operate as a mutual fund distributor in India. This move aligns with the company's strategy to diversify revenue streams into wealth management. Financially, Kissht reported a 75% increase in net profit to ₹281.5 crore in FY26, with operating revenue rising 63% to ₹2,179.3 crore.".

Read Full Story

Business • Team Inc42

Jio Financial Services reported a profitable Q1 FY27 with revenue exceeding ₹2,000 crore, driven by its lending and payments arms. Meanwhile, Reo.Dev raised $11.3 million, and Aurum approved the acquisition of Housing.com. Agnikul added a former ISRO chief to its board, while Meesho saw increased domestic investment. Conversely, WeWork India returned to a net loss, and health startup The Sweet Change reported strong early revenue growth.

Read Full Story

Business • Anne Florentyna

"Edtech major PhysicsWallah has acquired an additional 11% stake in UPSC coaching institute Sarrthi IAS for ₹71.81 crore, raising its total holding to 51%. This transaction is part of a broader agreement to acquire up to 85% of the company by FY31. The move aims to strengthen PhysicsWallah's presence in the civil services preparation segment. Sarrthi IAS reported a significant turnover increase to ₹76.52 crore in FY26.".

Read Full Story

Business • Lokesh Choudhary

"Neo Group, a wealth and asset management startup, has raised ₹350 crore in a funding round led by Peak XV Partners. This marks its second significant capital raise in six months, following a TVS Capital-led round that granted it unicorn status. The company, which manages ₹1.3 lakh crore in assets, plans to utilize the funds for technology, talent, and product expansion to compete in India's growing wealth sector.".

Read Full Story

Business • Gaurav Bagur

WeWork India reported a consolidated net loss of ₹4.1 crore in Q1 FY27, ending a three-quarter streak of profitability. Despite this, the company reduced its year-on-year loss by 71% and saw operating revenue grow 28% to ₹683.8 crore. While Ind AS standards show a loss, WeWork claims a net profit of ₹53.2 crore on an IGAAP-equivalent basis, alongside a significant increase in EBITDA to ₹454.8 crore.

Read Full Story

Business • Anne Florentyna

Spacetech startup Agnikul Cosmos has appointed former ISRO chairman Dr Somanath S as a board observer to support its upcoming second space mission. Mission II will utilize a two-stage Agnibaan rocket to demonstrate the recovery of an orbital-class booster through controlled ocean descent and the conversion of its upper stage into an on-orbit platform. This development highlights the growing momentum of India's private space sector and government support.

Read Full Story

Business • Anne Florentyna

B2B manufacturing startup Groyyo has secured ₹90 crore as part of its ₹200 crore Series B funding round led by Cornerstone Ventures. The Gurugram-based company will use the capital to expand its factory network, enhance its AI-powered design platform, and grow its presence in North America, Europe, and the Middle East. Groyyo helps global fashion brands diversify sourcing away from China by digitizing the apparel supply chain.

Read Full Story

Business • Akshit Pushkarna

Domestic institutional investors increased their stake in Meesho during the June quarter, offsetting sales by foreign backers following the expiration of the post-IPO lock-in period. Mutual fund holdings rose to 7.93%, with SBI Mutual Fund becoming the largest domestic shareholder. Conversely, foreign company holdings declined to 62.05% as several investors exited. This shift reflects a broader trend of domestic investors replacing foreign venture capital in Indian tech firms.

Read Full Story

Business • Shrishti Bisht

Enterprise AI startup logcat.ai has raised $2.5 million in pre-seed funding led by Founders' Co-op to automate Android and Linux device engineering. The Seattle-based company will use the capital to expand its engineering team and enhance its AI platform, Delta, which identifies software issues and recommends code-level fixes. Targeting hardware manufacturers, logcat.ai aims to accelerate product launches for devices like smartphones and robots.

Read Full Story

Business • Akshit Pushkarna

Fintech company Jio Financial Services’ (JFS) net profit zoomed 2.6X to ₹830.3 Cr in the first quarter (Q1) of FY27.

Read Full Story

Categories

MakeMyTrip Files Confidentially For India IPO

IPO-Bound Jio Platforms’ Q1 Profit Jumps 9% YoY To ₹7,764 Cr

Profitability, Geopolitical Concerns Weigh On Zepto’s IPO Valuation

Turtlemint Turns Profitable In Q4, Posts PAT Of ₹3 Cr

Decoding Meesho’s Zero-Commission Model & Seller-Centric Revenue Engine

Why RBI’s Data Governance Push Puts Fintech Partners In A Spot

Khosla Ventures Backed upliance.ai Launches AI-Powered 12L Smart Oven

DPDP Is Coming Fast But Indian Startups Are Moving At Different Speeds

WeWork India Sinks 10% As Q1 Net Loss Weighs On Investor Sentiment

BYJU’S Inches Closer To Resolving Aakash Dispute After Creditors’ Nod

Kissht Receives Certification For Mutual Fund Distribution

JFS’ Profitability Flex, Reo.Dev Bags $11 Mn & More

PhysicsWallah Acquires Majority Stake In Sarrthi IAS For ₹72 Cr

Neo Group Nets ₹350 Cr From Peak XV Partners To Strengthen Wealthtech Play

WeWork Back In The Red In Q1 FY27, Reports ₹4 Cr Loss

Ahead Of Mission II, Spacetech Soonicorn Agnikul Ropes In Ex-ISRO Chairman Somanath As Board Observer

B2B Garment Manufacturing Platform Groyyo Raises ₹90 Cr To Expand Supplier Network

Mutual Funds Raise Meesho Bets As Early Foreign Investors Trim Stakes

logcat.ai Bags $2.5 Mn To Build AI Platform For Android, Linux Engineering

Jio Financial Services Q1: Profit Surges 2.6X YoY To ₹830 Cr