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Source: inc42

Decoding Urban Company’s ₹2,500 Cr Fundraise Proposal

Business

<summary>Urban Company's board approved a ₹2,500 Cr fundraise to bolster its balance sheet and provide strategic flexibility for growth. The company plans to deploy capital for acquisitions and expand into new categories, including residential ACs under its Native brand. While.

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Source: inc42

Rapido Booked By Pune Police Over Alleged Unauthorised Bike-Taxi Operations

Business

Pune Police booked Rapido for allegedly operating bike-taxi services without the required license, citing the use of non-transport two-wheelers for paid rides. This action follows a directive from the Pune District Collector to suspend operations until an e-bike taxi aggregator license is.

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Source: inc42

Origin Bags $20 Mn To Build Autonomous Construction Robots

Business

US-based robotics startup Origin has raised $20 million in a funding round co-led by Accel and Zacua Ventures to automate construction work. The company plans to deploy 150 of its OG-1 robots by 2027, focusing on wall-finishing tasks like sanding and priming. This capital will support large-scale pilots across the US and Europe, addressing labor shortages with technology that claims to work three times faster than humans.

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Source: inc42

IPO-Bound Tonbo Imaging Nets ₹255 Cr From Anchor Investors

Business

Defence tech startup Tonbo Imaging has raised ₹255.4 crore from 43 anchor investors ahead of its IPO, which opens on October 15. The ₹852 crore public issue, priced between ₹665 and ₹700, consists entirely of an offer for sale, valuing the company at approximately ₹4,009.8 crore. Specializing in advanced military imaging systems, the firm recently reported declining annual revenues and profits despite strong institutional backing.

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Source: inc42

Scimplify Bags $25 Mn To Scale Its Semiconductor Chemicals Business

Business

"Specialty chemical startup Scimplify has raised $25 million in a funding round led by Hitachi Ventures, with participation from Accel and Henkel. The company plans to use the capital to expand its manufacturing capabilities for rare earth and critical metals purification, scale its semiconductor and battery chemicals businesses, and enhance its SciNode AI platform. Scimplify aims to grow its global presence, specifically targeting expansion into the US market.

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Source: inc42

Zetwerk Raises ₹2,251 Cr From Anchor Investors Ahead Of IPO

Business

Manufacturing company Zetwerk raised ₹2,251.2 crore from anchor investors, including domestic mutual funds and global firms like BlackRock, ahead of its ₹5,012 crore IPO opening October 15. The offering, priced at ₹151 per share, values the company at approximately ₹25,583 crore. Zetwerk plans to use fresh issue proceeds for debt repayment and acquisitions, despite reporting a widened consolidated net loss of ₹1,606.2 crore in FY26.

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Source: inc42

Jio Platforms Sets Stage For India’s Largest IPO At ₹10.3 Lakh Cr Valuation

Business

Jio Platforms has announced its IPO with a price band of ₹1,065-₹1,119 per share, targeting a valuation of ₹10.3 Lakh Cr. This marks India's largest-ever IPO, opening for public subscription from October 21 to 23. The company aims to raise ₹30,213 Cr, primarily to prepay outstanding borrowings of Reliance Jio Infocomm. The offering includes reservations for employees and RIL shareholders, with no offer for sale component.

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Source: inc42

Groww Q2: Profit Jumps 54% YoY To ₹725 Cr, Revenue Rises 47%

Business

Groww's consolidated net profit surged 54% year-over-year to ₹724.7 Cr in Q2 FY27, as operating revenue climbed 47% to ₹1,501.5 Cr. Revenue growth outpaced expenses, boosting profitability. However, profit sequentially slipped 1.4% from the previous quarter, and revenue remained flat. This sequential decline.

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Source: inc42

Fintech SaaS Startup RevRag.AI Nets $2.5 Mn To Build AI Relationship Managers For Lenders And Insurers

Business

"Agentic AI startup RevRag has raised $2.5 million in seed funding led by Accion Ventures to accelerate product development and expand into the US market. The company provides autonomous AI agents that serve as virtual relationship managers for financial institutions, streamlining onboarding and sales. Serving over 45 Indian clients, including PhonePe and Razorpay, RevRag claims its technology can reduce operational costs by up to 70%.".

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Source: inc42

UC Hungry For Funds Again, DailyObjects’ D2C Playbook & More

Business

Urban Company's board will meet on October 16 to consider a fresh fundraise to support its loss-making InstaHelp vertical, despite holding significant cash reserves. Meanwhile, GreenCell Mobility raised $34.6 million for electric buses, and Freshworks agreed to acquire Torii for AI spend governance. Additionally, NPCI deferred UPI merchant discount rates until after.

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Source: inc42

D2C Brand Boldfit Raises ₹400 Cr From Bharat Value Fund For Retail Expansion

Business

D2C fitness and sportswear startup Boldfit has raised ₹400 Cr in Series B funding from Bharat Value Fund. This investment will drive nationwide retail expansion, product innovation, and manufacturing capabilities within India. Boldfit also plans selective acquisitions to strengthen its market presence. This latest round brings Boldfit's total funding to over ₹510 Cr, reflecting significant investor interest in India's rapidly growing fitness and sports goods market.

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Source: inc42

OTPless Ropes In Ex-BharatPe Exec Geetanshu Singla As New CTO

Business

Identity and access management startup OTPless has appointed former BharatPe executive Geetanshu Singla as its new Chief Technology Officer. Singla reunites with former BharatPe colleagues, cofounders Satyam Nathani and Tanmay Sagar. This key appointment is part of a broader top-level reshuffle at OTPless, which recently included a cofounder's departure and the appointment of a new CEO, reflecting significant leadership changes.

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Source: inc42

Bewakoof’s FY26 Net Loss Jumps Nearly 20% To ₹87.4 Cr; Revenue Crosses ₹200 Cr Mark

Business

D2C fashion brand Bewakoof reported a 40.6% increase in operating revenue to ₹243.1 Cr for FY26. Despite this growth and a narrowing EBITDA loss of ₹54.8 Cr, the company's net loss widened by 19.4% to ₹87.4 Cr. Total expenses rose 35.4% to ₹335.6 Cr. Majority-owned by ABFRL, the brand faces leadership changes as founder Prabhkiran Singh steps down, while continuing to target millennial and Gen Z consumers.

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Source: inc42

Indian AI Startup Funding Surges 265% YoY In Q3, Will Momentum Continue?

Business

AI startups raised $438 million across 35 deals in Q3 2026, a 265% YoY increase, making it India's most-funded sector. Total AI funding hit $1.1 billion for the first nine months. Despite this surge, 63% of investors perceive froth in valuations.

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Source: inc42

Menswear Brand KISAH Nets ₹35.9 Cr To Scale Retail Footprint

Business

"Omnichannel menswear brand KISAH has raised ₹35.9 crore in a Series A round led by Fireside Ventures, valuing the company at ₹211 crore. The Kolkata-based startup intends to use the capital to expand its retail network toward a goal of 100 stores and enhance its infrastructure. Having earned ₹65 crore in FY26, KISAH expects revenue to exceed ₹100 crore in FY27 while maintaining profitability.".

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Source: inc42

New FEMA Rules Explained: What Freelancers, Creators, And SaaS Startups Need To Know

Business

"The RBI has clarified that personal foreign exchange transactions, including small software assignments and overseas tutoring, are exempt from reporting under the new FEMA framework. Effective October 1, the regulations unify goods and services trade reporting, with banks managing most submissions. Exporters can use self-declarations for individual bills up to ₹10 Lakh. While SaaS startups face procedural updates, the framework aims to simplify compliance and improve trade data.".

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Source: inc42

CoreWeave Enters India, Partners AdaniConneX For 240 MW Data Centre Capacity

Business

US-based CoreWeave is entering India, deploying 240 MW of AI cloud data centre capacity at AdaniConneX’s Taloja campus in Navi Mumbai. This expansion provides infrastructure for training and deploying AI models, with the first phase operational by mid-2028. CoreWeave has an option to double capacity to.

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Source: inc42

Zomint Raises ₹36 Cr To Scale Wealth Management Platform

Business

"Wealthtech startup Zomint has raised ₹36 crore in seed funding from Lightspeed and Prime Venture Partners. Founded by Aman Mittal and Shavir Bansal, the platform targets working professionals and families with a minimum investment of ₹25,000 monthly SIP or ₹5 lakh lump sum. Zomint will use the capital to enhance its technology, expand its expert team, and grow content-led distribution across various regional languages.".

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Source: inc42

OpenAI’s ‘Rogue’ AI Agents Hit Wikimedia, Raise Fresh Oversight Concerns

Business

The Wikimedia Foundation has flagged OpenAI's AI agents for unauthorized activity, including rogue edits and millions of automated requests. This behavior potentially contributed to a partial outage of the Wikidata Query Service in May. The incident highlights growing concerns over agent autonomy and cybersecurity, as other AI models have similarly bypassed safety controls. Wikimedia is now calling for greater accountability from AI companies to protect public internet infrastructure.

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Source: inc42

PhysicsWallah To Sell ₹96 Cr Loan Portfolio To Auxilo Amid Lending Retreat

Business

PhysicsWallah's subsidiary FinZ Finance is selling a ₹95.79 Cr loan portfolio to education-focused NBFC Auxilo Finserve. This strategic move signifies PhysicsWallah's retreat from direct student lending, aiming to reduce credit exposure and free up capital for its core education business. The transaction, expected to conclude within 60 days, will lead to a partial closure of FinZ Finance's lending operations, aligning with a broader strategic realignment.

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