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Source: inc42

InsuranceDekho + RenewBuy: Ankit Agrawal On Making Of A Pan-India Insurance Distribution Giant

Business

InsuranceDekho and RenewBuy have completed their merger, operating under the InsuranceDekho brand led by CEO Ankit Agrawal. The combined entity is now India’s largest AI-enabled insurance distribution platform, boasting a premium book exceeding ₹6,600 crore and over 6 lakh digital partners. Covering 98.57% of India’s pin codes, the platform offers 750+ products from 52 insurers, leveraging complementary geographic strengths to compete with major industry players.

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Source: inc42

Minimac Systems Raises ₹30 Cr To Scale Lubricant Recycling Infrastructure

Business

Pune-based startup Minimac Systems has raised ₹30 crore ($3.2 million) in a funding round led by Zerodha’s Rainmatter. The company specializes in lubricant recycling and circularity infrastructure, offering onsite treatment and fluid analytics. Minimac will use the capital for research and development of miniaturized fluid-treatment systems and fleet automation. The startup aims to reduce India's base oil imports and abate 860 gigagrams of carbon emissions by 2034.

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Source: inc42

[Update] ESDS IPO Closes With 135.9X Oversubscription

Business

ESDS Software Solution’s ₹720 crore IPO was oversubscribed 135.88 times by the end of its third bidding day. Qualified Institutional Buyers led the demand at 261.51 times, followed by Non-Institutional Investors at 192.94 times and retail investors at 39.68 times. Priced between ₹408 and ₹429 per share, the cloud and AI company plans to use ₹576 crore for infrastructure expansion. Shares are expected to list on September 4.

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Source: inc42

Icertis Replaced CEO After Whistleblower Alleged Favouritism: Report

Business

"Icertis CEO Anand Subbaraman has stepped down to an advisory role following whistleblower allegations of misconduct, inappropriate behavior, and favoritism toward a junior employee. Subbaraman, who assumed the leadership role in August 2025, was under board investigation before his transition. Currently, CFO Rajat Bahri and board member Jim Moffatt serve as interim co-CEOs while the SoftBank-backed contract management firm, valued at $5 billion, seeks a permanent replacement.".

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Source: inc42

Whatfix Cofounder Khadim Batti Passes Away

Business

"Khadim Batti, the cofounder and former CEO of the AI-powered digital adoption platform Whatfix, has passed away at approximately 50 years old due to cardiac arrest. Batti cofounded the San Francisco-based SaaS soonicorn with Vara Kumar Namburu in 2013, growing it to serve over 700 enterprises. He is remembered as a pivotal mentor and supporter within the Indian startup ecosystem, inspiring many founders through his professional journey.".

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Source: inc42

VinFast Halts Cars Production In India To Reassess Costs: Report

Business

Vietnamese EV manufacturer VinFast is pausing production of its VF3, VF6, and VF7 models in India to reassess costs after failing to meet local sourcing targets. While the company has asked suppliers to halt activities, it will continue assembling the VF6 and VF7 using imported kits from Vietnam. This decision follows significant investments in its Tamil Nadu facility, which aims for an annual capacity of 150,000 vehicles.

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Source: inc42

Meta Pulls 39 Scam Ads Promoting Malicious Porn Apps After India’s Warning

Business

Meta removed at least 39 Facebook and Instagram ads promoting malicious Android apps after warnings from India's Ministry of Home Affairs. These ads used sexually explicit content to lure users to phishing sites for APK downloads. The malware could steal banking credentials, capture OTPs, and facilitate unauthorized financial transactions. This action follows a surge in cyber fraud in India, which recorded nearly $2.4 billion in losses in 2025.

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Source: inc42

NPCI To Launch Agentic Payments On UPI: Report

Business

NPCI plans to launch the Unified Agent Protocol at the Global Fintech Fest in Mumbai, enabling AI agents to execute small-ticket UPI payments without manual user approval for every transaction. Leveraging UPI Circle and Reserve Pay, the framework allows users to delegate payment authority within pre-set limits for high-frequency purchases. Additionally, NPCI may introduce UPI AutoPay interoperability, advancing its vision for intelligent commerce alongside global payment networks.

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Source: inc42

Pernia’s Pop Up Shop Parent IPO: Issue Subscribed 20% On Day 2 So Far

Business

Pernia’s Pop Up Shop parent Purple Style Labs’ initial public offering (IPO) continued to see steady investor interest on the.

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Source: inc42

Niyo To Acquire Capital India’s RemitX Forex Business For ₹11.4 Cr

Business

Fintech soonicorn Niyo has signed a definitive agreement to acquire the forex and cross-border payments business of listed financial services.

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Source: inc42

Alteon Raises $2.5 Mn To Develop Long-Endurance Autonomous Aircraft

Business

Bengaluru-based startup Alteon has raised $2.5 million in pre-seed funding to develop wind-powered autonomous aircraft. Utilizing dynamic soaring technology, these aircraft aim to stay airborne for months or even over a year without refueling. The company recently demonstrated successful offshore flight tests. This technology targets persistent ocean monitoring, defense, and surveillance, contributing to India's rapidly expanding UAV market, which is projected to reach $1.39 billion by 2030.

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Source: inc42

From $3.5 Bn To $200 Mn: upGrad Completes Unacademy Acquisition

Business

After months of negotiations and regulatory clearances, edtech major upGrad has completed its acquisition of Unacademy in a deal valued.

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Source: inc42

Kepler Aerospace Raises $8 Mn To Launch Six Autonomous Surveillance Satellites

Business

"Bengaluru-based Kepler Aerospace has raised $8 million in its first external funding round to deploy six autonomous swarming ISR satellites under two iDEX contracts. The startup aims to reduce the delivery time of space-based intelligence from months to minutes. Additionally, Kepler will expand its mission operations and avionics-as-a-service businesses, move to a new facility, and hire 40 employees over the next 12 to 24 months.".

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Source: inc42

UPI Transactions Rise 4% MoM To Record 24.51 Bn In August

Business

"UPI transaction volume hit a record 24.51 billion in August, rising nearly 4% month-on-month, although the total value dipped slightly to ₹29.82 lakh crore. While adoption grows, the industry faces monetization challenges, with new legislation potentially enabling Merchant Discount Rates. Additionally, NPCI is enhancing interoperability for AutoPay mandates and expanding internationally to Uzbekistan, while PhonePe is targeting feature-phone users to further increase digital payment reach.".

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Source: inc42

The Festive Delivery Squeeze

Business

Festive shopping has always involved some last-minute panic. A forgotten gift, an extra box of sweets or a beauty order.

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Source: inc42

Yuma Energy Bags $35 Mn To Expand Its Battery Swapping Network

Business

"Yuma Energy, a joint venture between Magna and Yulu Energy, has raised $35 million in Series A funding from Magna International. The startup aims to expand its battery swapping network across India, enhance its tech platform, and broaden its customer base to include fleet operators and OEMs. With over 2,500 stations already operational, Yuma targets EBITDA-profitability by FY27 as the Indian EV market grows rapidly.".

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Source: inc42

Zepto’s New Game Plan, Layoffs At Zomato & More

Business

Zepto is prioritizing profitability by reducing discounts and launching a paid loyalty program following its IPO postponement. Meanwhile, Zomato has laid off 240 employees in Hyderabad to consolidate operations. In other news, Satvacart has shut down, and Bira91 faces insolvency threats. Electric two-wheeler sales declined in August, while Vimag Labs is developing rare earth magnet alternatives to reduce India's dependence on Chinese imports for EV motors.

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Source: inc42

Zenergize Bags $4 Mn To Scale Production Of Its EV Chargers

Business

"Clean tech startup Zenergize has raised $4 million in a Pre-Series A funding round led by Giraffe Studios to expand its EV charger and solar inverter production. Founded by IIT Bombay alumni, the company plans to scale its R&D, grow its sales team, and establish a new facility in Delhi NCR. Zenergize currently reports an annual run rate of ₹35-40 crore, targeting significant growth by 2026.".

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Source: inc42

Zepto’s Retention Play: Fewer Discounts, Premium Carts & A Paid Club

Business

Before we turn the talk to Zepto’s IPO delay and how the company is looking to address the one problem.

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Source: inc42

Exclusive: MS Dhoni Joins Edtech Startup SpeakX’s Cap Table

Business

AI-based edtech startup SpeakX has appointed cricketer Mahendra Singh Dhoni as a strategic investor and brand ambassador. Formerly known as Yellow Class, the English tutoring platform utilizes a freemium model and currently serves around 2 lakh paid subscribers. SpeakX is expanding its regional-language offerings across India and plans to launch a B2B product. The company reported EBITDA profitability in FY26 and projects revenue growth for FY27.

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