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Source: inc42

D2C Brand Scrubsy Nets $3 Mn To Expand Home Cleaning Offerings

Business

D2C home-cleaning startup Scrubsy has raised ā‚¹27 Cr ($3 Mn) in a seed round led by V3 Ventures. The Delhi NCR-based company specializes in foam-based cleaning products designed to reduce scrubbing time. Scrubsy plans to use the funding to expand into car and laundry care. Having acquired over 5 lakh customers, the EBITDA-positive startup aims for ā‚¹100 Cr in annual recurring revenue by FY28.

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Source: inc42

Centre Directs Ride-Hailing Platforms To Take Down ā€˜Advanced Tippingā€™ Prompts

Business

The Ministry of Road Transport and Highways has ordered ride-hailing platforms like Uber and Ola to remove tipping prompts shown before or during trips. According to the Motor Vehicle Aggregator Guidelines 2025, tips may only be offered after a journey is completed. Aggregators are prohibited from suggesting that tips improve ride acceptance or waiting times, and 100% of all tipping amounts must go directly to the drivers.

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Source: inc42

Centricity Raises ā‚¹280 Cr To Expand Wealthtech Platform, NRI Business

Business

Gurugram-based wealthtech startup Centricity has raised ā‚¹280 crore (approximately $29 million) in a funding round led by SMBC Asia Rising Fund. The investment, comprising equity and venture debt, values the company at ā‚¹1,800 crore. Centricity intends to use the capital to enhance its technology stack and expand its B2B2C wealth-distribution platform globally. The firm currently manages over ā‚¹15,000 crore in assets for more than 1 lakh investors.

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Source: inc42

Amagi Q1: Profit Jumps 8.6X YoY To ā‚¹33.9 Cr, Revenue Rises 32%

Business

Amagi Media Labs reported a significant increase in consolidated net profit for the June quarter of FY 2026-27, jumping 8.6 times to ā‚¹33.9 crore from ā‚¹3.9 crore year-on-year. Operating revenue grew 32.4% to ā‚¹436.9 crore, while total income reached ā‚¹454.5 crore. Despite the annual growth, profit saw a marginal sequential decline from ā‚¹34.3 crore in the March quarter, and total expenses rose 22.6% to ā‚¹414.1 crore.

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Source: inc42

IPO-Bound Infra.Market Eyes Reverse Listing Via Shalimar Paints In ā‚¹10,440 Cr Share Swap

Business

"Shalimar Paints is considering acquiring equity shares and CCPS of Hella Infra Market, the parent company of unicorn Infra.Market, through a proposed ā‚¹10,439.91 crore share swap. This transaction would make Hella Infra Market an unlisted material subsidiary of Shalimar Paints, providing the unicorn a reverse-listing route to public markets. The board is now reviewing the proposal to seek necessary shareholder approvals for the building materials platform.".

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Source: inc42

Astrotalkā€™s Unicorn Leap, Shiprocket IPO Day 1 & More

Business

AstroTalk has become Indiaā€™s 133rd unicorn following an ESOP buyback valuing the platform at $1 billion. The spiritual tech startup is expanding into offline retail and international markets. Other industry news includes Shiprocketā€™s 97% IPO subscription, Yulu raising $93 million for electric mobility, and Lenskartā€™s 273% profit surge. Additionally, AI firm Cursor is opening its first Indian office, while SwishX scales its pharma AI solutions.

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Source: inc42

Table Space Goes For IPO, But Its Growth Story Has A Catch

Business

Bengaluru-based Table Space has filed for an IPO, proposing a fresh issue of up to ā‚¹800 crore and an offer for sale of 6.55 crore shares. The company plans to use ā‚¹550 crore to repay borrowings. While Table Space boasts significant scale and operating profitability, it faces risks from high client concentration among large enterprises and continues to report net losses despite strong revenue growth.

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Source: inc42

SEBI Issues Show Cause Notice To Paytm Over 2023 Disclosure

Business

"SEBI has issued a show cause notice to Paytm's key managerial personnel regarding alleged violations of disclosure norms. The regulator is investigating the timing of a December 2023 announcement about scaling down small-ticket loans and whether the information was handled as unpublished price sensitive information. Paytm plans to respond within two weeks, stating the matter has no financial impact despite previous stock volatility following the disclosure.".

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Source: inc42

5.1 Lakh Complaints Filed Against Ecommerce Platforms In 2025: Govt

Business

The Indian government informed Parliament that over 5.1 lakh complaints were filed against e-commerce and quick commerce platforms on the National Consumer Helpline in 2025, a 14% increase from 2024. Flipkart, Amazon, and Meesho faced the most grievances, primarily regarding non-delivery and defective products. The helpline facilitated ā‚¹91 crore in refunds, while the CCPA penalized 47 platforms ā‚¹1.1 crore amid ongoing food safety crackdowns on quick commerce.

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Source: inc42

Yatraā€™s Q1 Profit Crashes 98% YoY To ā‚¹34 Lakhs

Business

Online travel aggregator Yatra reported a significant drop in consolidated net profit for Q1 FY27, plummeting 97.9% to ā‚¹34 Lakhs from ā‚¹16 Cr in the previous year's quarter. This decline was driven by a 10.4% decrease in operational revenue, which fell to ā‚¹187.9 Cr from ā‚¹209.8 Cr. Total income reached ā‚¹192 Cr, while total expenses decreased slightly by 3.6% to ā‚¹191.3 Cr during the period.

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Source: inc42

Bank Of America To Buy 49.9% Stake In Jio Financial Servicesā€™ NBFC Arm For $1.9 Bn

Business

Bank of America's subsidiary, NB Holdings, has signed a joint venture agreement to invest up to ā‚¹18,268.2 crore in Jio Financial Services' NBFC arm, Jio Credit. The US bank will acquire up to a 49.9% stake, starting with an initial 26.5% holding. This partnership aligns with JFS's strategy of collaborating with global firms like BlackRock and Allianz to scale its fintech operations and expand financial access in India.

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Source: inc42

Cursor To Open First India Office By 2026 End: Report

Business

US-based AI coding company Cursor plans to open its first Indian office by the end of the year, focusing on the Greater Bengaluru region. India is currently Cursor's third-largest market, boasting over 3 million developers and a high concentration of power users. This expansion, which includes a new local subscription plan, coincides with increased competition from global players like OpenAI and Anthropic, as well as local firm Sarvam.

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Source: inc42

DevX Q1 Profit Jumps To ā‚¹1.5 Cr Despite A 3.3% YoY Dip In Revenue

Business

Coworking provider DevX reported a Q1 FY27 net profit of ā‚¹1.5 crore, a tenfold increase year-over-year but an 81% sequential decline. Operating revenue fell to ā‚¹53.8 crore, down 3.2% YoY. The company's board approved raising up to ā‚¹100 crore through non-convertible debentures and diversifying its business into managed office spaces and facility management. DevX shares closed 1.85% lower at ā‚¹35.02 on the BSE.

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Source: inc42

Uber Takes Bike Services To 100 More Cities Amid Intense Competition

Business

Uber is expanding its Uber Bike service to 100 additional Indian cities, bringing its total presence to 220 across 18 states and one union territory. This strategic move targets smaller towns to improve first- and last-mile connectivity and challenge competitor Rapido's market dominance. While Union Minister Nitin Gadkari supports the expansion, regulatory hurdles persist in several states. This growth follows significant financial losses reported by Uber India.

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Source: inc42

How SwishX Is Fixing Messy Back Office Sales Workflows For Pharma Companies With AI

Business

Swish Club has pivoted to SwishX, an agentic AI platform specializing in pharmaceutical and medtech commercial operations. Moving away from device leasing, the company now offers vertical AI tools for sales, distribution, contracts, and tendering. SwishX has already surpassed $1 million in annual recurring revenue and aims for $5 million in contracted ARR and over 100 enterprise customers by FY27, focusing on industry-specific workflows over generic AI.

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Source: inc42

Maharashtra Makes Knowing Marathi Mandatory For App-Based Drivers

Business

Maharashtra has mandated that app-based cab drivers for platforms like Ola, Uber, and Rapido possess a working knowledge of Marathi. Non-compliance may lead to license suspension or cancellation. To assist, the state is providing training, with over 1.10 lakh drivers already certified. Additionally, aggregators must apply for state licenses by September 1 under new regulations that govern fares, safety standards, and vehicle requirements to ensure passenger security.

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Source: inc42

Exclusive: AI Healthtech Startup August AI In Talks To Raise $4 Mn From Peak XV

Business

August AI, an AI-powered health companion startup, is reportedly in discussions to raise approximately $4 million from Peak XV Partners. Founded in 2022, the company provides personalized health insights and symptom analysis across 30 languages. This potential funding follows a $3 million seed round from Accel and Claypond Capital. The move highlights increasing investor interest in AI-driven healthcare solutions for disease detection and clinical workflow efficiency.

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Source: inc42

Lenskart Q1: Profit Zooms 3.7X YoY To ā‚¹228.4 Cr, Revenue Up 43%

Business

Lenskart, the omnichannel eyewear giant, reported a significant surge in its consolidated net profit for Q1 FY27, reaching ā‚¹228.4 crore. This represents a 273% year-on-year increase and a 12% sequential rise. Operating revenue grew 43% year-on-year to ā‚¹2,714.2 crore, while total income rose to ā‚¹2,782.7 crore. Despite these gains, total expenses increased by 35% year-on-year to ā‚¹2,483.5 crore during the quarter.

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Source: inc42

Delhi HC Says Personality Rights ā€˜Going Out Of Handā€™, Flags Free Speech Concerns

Business

"The Delhi High Court is seeking clearer limits on personality rights to prevent them from infringing upon free speech. While hearing actor Janhvi Kapoor's plea against unauthorized commercial exploitation and AI-generated content, Justice Anup Jairam Bhambhani declined a blanket takedown of fan pages. The court emphasized that public figures must tolerate some scrutiny, urging a balanced approach to protect individuals without restricting legitimate expression or digital creativity.".

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Source: inc42

Exclusive: Astrotalk Joins Unicorn Club After ESOP Buyback At $1 Bn Valuation

Business

Delhi NCR-based astrology platform AstroTalk has become Indiaā€™s 133rd unicorn following an ESOP buyback at a $1 billion valuation. The company reported an annual revenue run rate exceeding ā‚¹2,500 crore, with FY25 net profits rising to ā‚¹250 crore. Beyond its core consultation services, AstroTalk is expanding into spiritual ecommerce through its Astrotalk Store, with plans for offline retail in Delhi NCR and international expansion into the US market.

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