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Source: inc42

Netflix Launches India Creator Initiative As Ted Sarandos Bets Big On Local Content, AI

Business

Netflix has launched the Netflix India Storytelling Initiative, partnering with IICT and NFDC to train creators in animation, visual effects, gaming, and comics. Co-CEO Ted Sarandos emphasized India's central role in Netflix's global growth strategy, noting the market's diversity and potential. While the company is integrating AI into production workflows to lower costs, Sarandos ruled out bidding for major sports rights like the IPL.

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Source: inc42

Govt Disburses ₹276 Cr To Set Up Four AI Centres Of Excellence

Business

The Indian government has disbursed ₹276.1 crore to establish four national centres of excellence in artificial intelligence at IIT Ropar, IIT Kanpur, IISc Bangalore, and IIT Madras. These centres focus on agriculture, sustainable cities, healthcare, and education to build an indigenous AI ecosystem. Part of the ₹10,370 crore IndiaAI Mission, the initiative aims to develop local large language models, support startups, and expand computing infrastructure across India.

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Source: inc42

Skyroot Invites Bids To Raise $200 Mn At A Valuation Of $2 Bn

Business

Skyroot Aerospace is seeking $200 million in new funding at a $2 billion valuation, an 80% increase from its May valuation. The spacetech unicorn is inviting investors to submit bids, with the round expected to close within two months. This follows Skyroot's milestone as the first private Indian company to reach Earth's orbit with its Vikram-1 rocket, as it aims to expand its launch vehicle portfolio.

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Source: inc42

Govt Operationalises New Framework To Spur Ecommerce Exports

Business

The Indian government has introduced a new framework for inventory-based cross-border ecommerce to boost exports to $200-$300 billion by 2030. The Directorate General of Foreign Trade now allows online marketplaces to procure goods directly from Indian sellers for export, exempting them from certain FDI rules. The policy prohibits stockpiling, mandates DGFT registration, and requires strict digital traceability and compliance with international laws to ensure transparency.

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Source: inc42

Pinegap Nets $8 Mn From Stellaris & Others To Build An Agentic Platform For Market Analysts

Business

AI-powered equity research startup Pinegap has raised $8 million in a Series A funding round led by Stellaris Venture Partners. Based in New York and Bengaluru, the company provides an agentic AI platform to automate tasks for institutional analysts and portfolio managers. Pinegap plans to use the capital to expand its engineering team and enhance its go-to-market capabilities, continuing the trend of high investment in application-layer AI ventures.

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Source: inc42

BPC Brand Typsy Beauty Raises ₹20 Cr To Double Down On Quick Commerce, Offline Retail

Business

Typsy Beauty, a D2C beauty and personal care startup, has raised ₹20 Cr ($2.1 Mn) in a funding round led by Saama Capital. The investment, which included participation from several family offices, will be used to expand the brand's offline presence and quick commerce reach. Additionally, the company plans to enter the skincare market and scale its fragrance sub-brand, Spritz, amid growing industry consolidation.

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Source: inc42

Talks On MDR On UPI At A Premature Stage: RBI Governor Sanjay Malhotra

Business

RBI Governor Sanjay Malhotra stated that discussions regarding the imposition of merchant discount rates (MDR) on UPI transactions are currently premature. This follows a government proposal to amend the Payment and Settlement Systems Act, 2007, potentially introducing fees on business transactions exceeding ₹2,000. While the industry argues that zero-fee models are unsustainable, the government aims to determine which electronic payment methods will remain exempt from these charges.

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Source: inc42

Reliance Retail Acquires Fashion Discovery Platform Furrl

Business

"Reliance Retail (RRVL) has acquired Bengaluru-based fashion discovery platform Furrl in an all-cash deal to integrate its proprietary AI styling technology. Furrl’s entire team, including CEO Esha Tiwary, will join RRVL to lead new AI initiatives. This acquisition aims to enhance personalized shopping experiences across Reliance’s digital commerce operations, strengthening its AI capabilities within India’s rapidly growing e-commerce market as competitors also adopt similar technologies.".

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Source: inc42

ArisInfra Q1 Profit Surges 4X YoY To ₹20 Cr, Revenue Grows By 37%

Business

B2B ecommerce firm ArisInfra Solutions reported a consolidated profit after tax of ₹20 crore for Q1 FY27, a fourfold increase from ₹5.1 crore year-on-year, though it declined 8% sequentially. Operating revenue grew 37% YoY to ₹290.8 crore, despite a 15% sequential drop. Total expenses rose 30% year-on-year to ₹268.5 crore, while decreasing 16% from the previous quarter. Total income for the period reached ₹295.2 crore.

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Source: inc42

Exclusive: Pain Care Startup Zanskar In Talks To Raise $6 Mn In Round Led By Bessemer

Business

"Delhi NCR-based pain care startup Zanskar is negotiating a funding round of approximately $6 million, led by Bessemer Venture Partners. Founded by IIT Delhi alumni, the company provides a technology-driven platform for personalized at-home pain management and sells relief products via various e-commerce channels. This potential raise follows a seed round and reflects increasing investor interest in chronic pain solutions within India's expanding healthtech market.".

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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

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 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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