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Source: inc42

AI Startups To Watch: 5 Startups That Caught Our Eye In August

Business

India's AI sector is evolving beyond general foundation models toward specialized infrastructure and domain-specific applications. Supported by the ₹10,300 Cr IndiaAI Mission and surging investment, startups are now tackling real-world deployment. Five emerging ventures—Clairva, Coreworks, eNLife Research, Kalpnk, and UpKraft—exemplify this shift, focusing on physical-world data, business intelligence, healthcare, filmmaking, and education to build a self-reliant, globally competitive AI ecosystem tailored to Indian needs.

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Source: inc42

From Yulu To Discovered Materials — Indian Startups Raised $140 Mn This Week

Business

Indian startup funding activity remained muted in the second week of August, even as astrology platform AstroTalk joined the unicorn.

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Source: inc42

Atomberg To Form JV With Voltas To Manufacture AC Compressors

Business

IPO-bound startup Atomberg has partnered with Tata-owned Voltas to form a joint venture for manufacturing energy-efficient room air conditioner compressors in India. While Voltas will serve as the anchor customer, the venture can supply other clients. This partnership leverages Voltas' market scale and Atomberg's engineering expertise. The move comes as Atomberg prepares for a public offering to raise between ₹1,500 crore and ₹2,000 crore.

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Source: inc42

WeWork Inc Sells 2.5% Stake In WeWork India For ₹244 Cr

Business

US-based WeWork Inc sold a 2.53% stake in WeWork India, offloading 35 lakh shares for ₹244.1 crore at ₹697.55 apiece. The bulk deal, involving buyers like ICICI Prudential MF and Motilal Oswal, allowed the company to book profits after shares surged 43.3% in three months. Despite a Q1 FY27 loss of ₹4.1 crore, WeWork India saw revenue grow 28% and expanded its desk capacity to 1.3 lakh.

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Source: inc42

Maharashtra FDA Suspends Licences of 14 Dark Stores Of Blinkit, Zepto & Instamart

Business

The Maharashtra Food and Drug Administration has suspended the licenses of 14 dark stores operated by Blinkit, Zepto, and Instamart due to widespread food safety and hygiene violations. Following inspections of 86 establishments, officials also issued 60 improvement notices. This crackdown reflects increasing regulatory scrutiny of quick commerce platforms, coinciding with similar actions in Karnataka and a surge in consumer complaints regarding these rapidly expanding delivery networks.

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Source: inc42

Redcliffe Labs, Skyroot Partner To Test Diagnostic Reagents In Space

Business

Redcliffe Labs has partnered with Skyroot Aerospace for the DRIFT-1 experiment, testing the stability and performance of dry diagnostic reagents in Low Earth Orbit for 90 days. By comparing space-exposed reagents with Earth-based controls, the startups aim to develop resilient diagnostic technologies for space missions and remote terrestrial environments lacking laboratory infrastructure. This collaboration supports astronaut healthcare and future Indian space programs like Gaganyaan and the Bharatiya Antariksh Station.

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Source: inc42

PhysicsWallah Q1 Revenue Crosses ₹1,000 Cr Mark, Loss Down 31% YoY

Business

"Edtech company PhysicsWallah reported operating revenue of ₹1,054 crore for the June quarter of FY27, marking a 24.4% year-on-year increase. While total income reached ₹1,162.8 crore, expenses rose 18% year-on-year to ₹1,247 crore. The company's net loss narrowed by 30.5% year-on-year to ₹88.3 crore, although it widened by 27.8% compared to the previous quarter. These figures highlight growth in revenue despite ongoing financial losses.".

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Source: inc42

Turtlemint Q1: Loss Trims 19% YoY To ₹38 Cr, Operating Revenue Increased 40%

Business

Insurtech company Turtlemint reported a net loss of ₹37.8 crore for Q1 FY27, a 19% decrease from the ₹46.7 crore loss recorded in the same quarter last year. Despite this improvement, the company shifted from a sequential net profit of ₹3.1 crore. Operating revenue grew 40% year-on-year to ₹294.1 crore, although it declined 18% sequentially. Total expenses for the quarter rose 28% year-on-year to ₹333.5 crore.

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Source: inc42

Zaggle Q1 Profit Dips 33% YoY To ₹17.5 Cr Despite 28% Revenue Jump

Business

Fintech SaaS company Zaggle reported a net profit of ₹17.5 crore for Q1 FY27, marking a 33% year-on-year decline and a 57% sequential drop. While operating revenue grew 28% year-on-year to ₹423.3 crore, it fell 32% compared to the previous quarter. Total expenses rose 31% annually to ₹406.7 crore, though they decreased 29% sequentially. The company's total income for the quarter reached ₹429.9 crore.

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Source: inc42

Tiger Global Offloads Entire Stake In OTT Platform The Viral Fever

Business

Tiger Global has fully exited The Viral Fever (TVF), selling its stake to Lighthouse India Fund-I, Frontier Globecap Ventures, and LC Nueva Advisors. The deal values the digital content studio at $22 million, a 73% drop from its 2019 valuation of $82 million. This exit coincides with leadership changes at TVF and a broader industry trend of reduced spending and fewer original productions across India's OTT streaming ecosystem.

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Source: inc42

Can Zepto’s Revenue Engine Outrun Quick Commerce Costs?

Business

Zepto, a quick commerce pioneer specializing in 10-minute deliveries, is preparing for an IPO. While the company has seen massive revenue growth, reaching ₹22,623.58 Cr in FY26, it continues to face significant net losses due to high delivery and warehousing costs. To improve profitability, Zepto is diversifying its revenue through advertising, platform services, and a shift toward a marketplace model to offset operational expenses.

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Source: inc42

Why Infra.Market Is Using Shalimar Paints To Reach The IPO Milestone

Business

Infra.Market is pivoting from a standalone IPO to a reverse-listing strategy through its listed subsidiary, Shalimar Paints. The company, valued at ₹24,620 crore, faces ₹6,057 crore in debt. To address this, Shalimar Paints has proposed a ₹10,545 crore share swap and a ₹1,000 crore qualified institutional placement. This alternative route provides a faster path to public markets and potential debt repayment amid unfavorable market conditions.

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Source: inc42

Shiprocket IPO Subscribed 25.8X So Far On Final Day Of Bidding

Business

Shiprocket’s ₹1,617.5 crore IPO saw strong demand, becoming 25.8 times subscribed by the final day of bidding. The offering, comprising a fresh issue and an OFS, received bids for 243.83 crore shares. Non-institutional investors led the surge with a 50.27x subscription, while retail and employee quotas were subscribed 28.99x and 34.46x, respectively. Allotment is expected on August 17, with listing scheduled for August 19.

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Source: inc42

Peak XV Leads $45 Mn Bet On US-Based AI Code Testing Startup Blacksmith

Business

<summary> Peak XV led a $45 million Series B funding round for US-based AI code testing startup Blacksmith, valuing it at $55

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Source: inc42

ixigo To Sell 17.39% Fresh Bus Stake For ₹36.6 Cr

Business

"ixigo's parent company, Le Travenues Technology, has agreed to sell a 17.39% stake in electric intercity bus startup Fresh Bus to Twelve Stone LLP for ₹36.6 crore. This transaction will reduce ixigo's holding from 25.66% to 8.27%, meaning Fresh Bus will no longer be an associate company. The deal is expected to close by August 30, occurring amid ixigo's broader expansion into AI and European markets.".

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Source: inc42

Uber, Rapido Held Talks To Combine India Operations, Says Report; Rapido Denies

Business

"Uber and Rapido reportedly discussed combining their Indian ride-hailing operations in May, but talks collapsed over the deal's structure. Uber proposed a combination under Rapido's management, while Rapido suggested acquiring Uber's India business. Uber rejected this, unwilling to cede control. Despite the failed talks, Uber is expanding its bike-taxi services to over 220 cities to challenge Rapido's dominance in the growing Indian mobility market.".

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Source: inc42

LEAP India Shares List At 4.4% Premium To Issue Price Of ₹159

Business

LEAP India debuted on the BSE and NSE at a 4.4% premium over its ₹159 IPO price, reaching a market capitalization of approximately ₹7,011 crore. The ₹2,480 crore public issue was oversubscribed 8.38 times. Specializing in tech-enabled supply chain solutions, the company reported strong FY26 growth, with net profit rising 66% to ₹62.3 crore and operating revenue increasing 56.4% to ₹729.5 crore.

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Source: inc42

Razorpay’s ChatGPT Gambit, Snapchat’s Next Big Quest & More

Business

The primary focus of the text is Razorpay's move into AI commerce. However, it's a news roundup. A professional summary of a roundup should either focus on the lead story or touch upon the major highlights. Given the structure, the Razorpay story is the most detailed. But since it's a collection of news, I should try to capture the essence of the main story and perhaps mention the other business updates.

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Source: inc42

Can Razorpay Turn ChatGPT Into India’s Next Commerce Channel?

Business

Razorpay is developing AI-native commerce infrastructure enabling merchants to create storefronts and complete transactions directly within AI interfaces like ChatGPT. By integrating NPCI’s UPI Reserve Pay and UPI Circle, the company allows seamless, secure checkouts without leaving the chat. Currently piloting with 50 brands and 200 businesses on its Agent Studio, Razorpay aims to simplify AI-led customer acquisition and product discovery for digital-first brands.

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Source: inc42

Rapido Bags Karnataka Cab Aggregator Licence Till 2031

Business

Rapido has obtained a cab aggregator license from the Karnataka government, valid until August 2031, allowing the mobility unicorn to operate four-wheeler services legally across 21 cities. While the company has joined the state's Urban Mobility Mission and reported revenue growth to ₹934.4 crore in FY25, its bike taxi operations continue to face regulatory scrutiny and safety concerns from local authorities and the Supreme Court.

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