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Source: inc42

Exclusive: AC Maker Optimist In Talks To Raise $10 Mn From TDK Ventures

Business

Delhi NCR-based cooling startup Optimist is in talks to raise approximately $10 million from TDK Ventures, the venture arm of Japan's TDK Corporation. Founded by Ashish Goel and Pranav Chopra, the company develops air conditioners tailored for India's specific climate and energy costs. This potential investment follows a previous $12 million round and highlights growing investor interest in India's underpenetrated home appliance market and energy-efficient cooling solutions.

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Source: inc42

PB Fintech Q1 Profit Doubles YoY To ₹163 Cr, Revenue Jumps 40%

Business

PB Fintech reported a net profit of ₹162.9 crore for the June quarter (Q1 FY27), nearly doubling from ₹84.7 crore year-on-year, though it fell 38% sequentially. Operating revenue rose 40% year-on-year to ₹1,888.3 crore, despite an 8% sequential decline. Total revenue reached ₹1,981.3 crore, while total expenses increased 33% year-on-year to ₹1,800.3 crore, reflecting the company's current financial performance and growth trends.

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Source: inc42

EV Startup River Mobility Bags $120 Mn To Expand Manufacturing Capacity

Business

River Mobility has raised $120 million in a Series C funding round co-led by Elev8 Venture Partners and Claypond Capital. This mix of equity and venture debt includes participation from Indian institutional investors for the first time. The company plans to use the funds to expand manufacturing capacity, launch new utility lifestyle electric vehicles, and achieve EBITDA profitability while growing its retail footprint to 350 stores by 2028.

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Source: inc42

Digital Arrest Scams: SC Directs RBI To Create Bank SOPs, Pushes For Victim Compensation Framework

Business

"The Supreme Court has directed the Reserve Bank of India to establish standard operating procedures for banks to combat digital arrest fraud, focusing on account freezes and fund recovery. Additionally, states must operationalize cyber crime coordination centres and adopt e-Zero FIR mechanisms. The court also urged a review of CBI investigation thresholds to better tackle organized networks as digital extortion scams continue to rise across India.".

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Source: inc42

Tracxn Reports ₹3 Cr Loss In Q1, Revenue Flat At ₹21 Cr

Business

Market intelligence platform Tracxn reported a net loss of ₹3 crore in Q1 FY27, marking its fourth consecutive loss-making quarter. This is a decline from the ₹1.1 crore profit recorded in the same period last year. While operating revenue remained nearly flat at ₹21.1 crore, dipping 0.6% year-on-year, total expenses surged 18.4% to ₹25.37 crore. Sequentially, revenue grew slightly by 2.9% from the previous quarter.

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Source: inc42

OfBusiness Set To File DRHP For $800 Mn IPO By Mid-November

Business

"B2B ecommerce unicorn OfBusiness is reviving its IPO plans, targeting a public listing by November. The company aims to raise up to $800 million, including a $260 million fresh issue, at a valuation between $5 billion and $6 billion. Backed by SoftBank, OfBusiness has engaged major advisors like Morgan Stanley and JPMorgan. This move follows strong financial growth, with FY26 net profits rising 21% to ₹724 crore.".

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Source: inc42

Bombay HC Directs Meta, Google To Take Down Defamatory Content Against Union Minister Nitin Gadkari

Business

The Bombay High Court (HC) on Wednesday (August 5) reportedly directed Meta, Google and other intermediaries to take down allegedly.

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Source: inc42

Ola Electric Shares Jump 10% After Signing BESS MoU With Axis Energy

Business

Ola Electric shares surged over 10% after the company signed a memorandum of understanding with Axis Energy for its upcoming commercial battery energy storage system platform, Ola Mahashakti. The partnership aims for potential deployments of up to 20 GWh by 2032, with annual capacity reaching 5 GWh from 2028. This strategic move diversifies Ola's business beyond electric two-wheelers amid slowing sales and increased regulatory scrutiny in India.

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Source: inc42

AI Concierge Startup Hulp Raises $2.6 Mn From Sparrow Capital, BITKRAFT

Business

"Gurugram-based household assistance startup Hulp has raised $2.6 million in a seed funding round led by Sparrow Capital and BITKRAFT Ventures. The company provides a concierge service blending AI automation with human assistants to manage diverse daily tasks. Hulp plans to use the capital to enhance its technology and expand operations from Delhi-NCR into five other major Indian metro cities over the next two years.".

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Source: inc42

Sarvam To Raise $74 Mn In Series B Extension From NVIDIA, Others

Business

AI unicorn Sarvam is raising an additional $74 million as part of its $300 million Series B funding round, with investments from NVIDIA, Glade Brook, Gaja Capital, and Indigo Ventures. Valued at $1.5 billion, the Bengaluru-based startup aims to build a sovereign AI ecosystem in India. Key initiatives include launching a trillion-parameter model, a new AI coding agent, and an India-hosted inference platform to ensure data residency.

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Source: inc42

Meta’s Safe Harbour Under Threat As Parliamentary Panel Seeks Zuckerberg’s Apology

Business

Meta’s regulatory scrutiny in India has intensified after the Parliamentary Standing Committee on Communications and Information Technology sought an “unqualified.

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Source: inc42

Meta And WhatsApp’s Moderation Machines Have A Transparency Problem

Business

Numerous WhatsApp users in India recently faced sudden account reviews and bans, with some permanently locked out without clear explanations. While Meta acknowledged potential enforcement mistakes, experts and users criticized the platform's lack of transparency and ineffective grievance redressal. This incident intensifies existing regulatory scrutiny of Meta in India, highlighting broader concerns regarding the company's automated moderation systems and its accountability to users and policymakers.

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Source: inc42

InRisk Labs Raises $27 Mn To Scale AI-Led Reinsurance Platform EarthRe

Business

GIFT City-based insurtech startup InRisk Labs has raised $27 Mn (about ₹256 Cr) in a Series A funding round co-led.

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Source: inc42

The Devil In The Agent

Business

Imagine an AI agent at an Indian bank tasked with reconciling a failed transaction. In trying to complete the job,.

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Source: inc42

Freshworks Turns Profitable In Q2, Revenue Up 16% YoY To $237.4 Mn

Business

Nasdaq-listed SaaS major Freshworks reported a net profit of $3.2 Mn in the second quarter ended June 30 (Q2 CY26).

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Source: inc42

Nykaa’s Q1 Snapshot, Klassroom Wraps Up IPO & More

Business

Nykaa reported a strong Q1 FY27, with net profits jumping three-fold to ₹79.8 crore and revenue rising 29%. Its fashion business turned EBITDA positive, while the company expanded its quick commerce reach. Other highlights include Klassroom's oversubscribed IPO, MapmyIndia's 6.3% profit growth, and Vaaree raising $6.8 million. Additionally, Mintoak acquired ICC Loyalty,.

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Source: inc42

Elevation Capital Offloads Paytm Shares Worth ₹2,038 Cr

Business

Elevation Capital offloaded Paytm shares worth ₹2,038 crore through bulk and block deals at an average price of ₹1,367.8. The VC firm's move follows Paytm's strong Q1 FY27 results, which saw net profit surge 79% to ₹220 crore. Various domestic mutual funds and international investors, including Goldman Sachs and Morgan Stanley, purchased the shares. Additionally, Elevation Capital sold Meesho shares worth ₹974.6 crore in a separate block deal.

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Source: inc42

Elevation Capital, Peak XV Partners Sell Meesho Stock Worth ₹1,949 Cr

Business

Elevation Capital and Peak XV Partners sold a combined 10.28 crore shares of e-commerce company Meesho through block deals, netting ₹974.6 crore each. The shares were sold at an average price of ₹186, a 3% discount on the closing price, to buyers including ADIA and Fidelity. This move follows Meesho's improved financial performance, including a 54% year-on-year reduction in net losses and 48% revenue growth in Q1 FY27.

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Source: inc42

Meet The 20 Startups Selected For Google Play Accelerator India

Business

Google has selected 20 Indian startups for the 2026 cohort of its Google Play Accelerator India programme. This third iteration of the equity-free, three-month initiative supports founders across sectors including edtech, healthtech, and gaming. Selected companies will receive hands-on guidance in AI integration, app quality, security, growth, and monetisation to help them build scalable, trusted products for both domestic and global markets.

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Source: inc42

ET Now Acquires OpiGo To Expand Its Investment Platform

Business

Times Network has acquired fintech startup OpiGo for an undisclosed amount to expand ET NOW’s investor-focused financial services. OpiGo’s platform, featuring SEBI-registered analyst recommendations and investor communities, will be integrated into ET NOW Pro. This strategic move transforms ET NOW from a business news platform into a comprehensive financial intelligence ecosystem, reflecting a broader Indian market trend toward subscription-led advisory and compliance-first investing tools.

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