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Source: inc42

Bengaluru Restaurants’ Push Back Gives Rapido’s Ownly An Opening Against Swiggy, Zomato

Business

"Bengaluru restaurants are protesting high commissions from Swiggy and Zomato, creating an opportunity for Rapido's zero-commission service, Ownly. By eliminating platform fees for restaurants and leveraging its existing ride-hailing fleet, Ownly aims to disrupt the current duopoly. Having captured 10% of Bengaluru's market, Rapido plans national expansion next quarter, while Flipkart also prepares to enter the competitive food delivery sector to challenge established players.".

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Source: inc42

Sarvam To Build Trillion-Parameter AI Model, Launches India-Hosted Inference Service

Business

AI unicorn Sarvam announced plans to develop a trillion-plus parameter frontier AI model in India to compete in coding, science, and cybersecurity. The Bengaluru-based startup also launched Sarvam Inference, a domestically hosted platform supporting models like Sarvam 105B and Gemma 4 to ensure data residency. Additionally, Sarvam opened a San Francisco office and appointed Devendra Singh Chaplot as an advisor to expand its end-to-end AI stack.

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Source: inc42

Sid’s Farm Secures ₹81 Cr To Strengthen Dairy Supply Chain

Business

Dairy startup Sid’s Farm has raised ₹81 Cr ($8.5 Mn) in a pre-Series B funding round from existing backers Omnivore,.

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Source: inc42

Meta Tightens Safeguards For PM Modi, Other Prominent Accounts After MeitY Summons

Business

"Meta has implemented stricter oversight for posts by Prime Minister Narendra Modi and other prominent accounts following a summons from India's MeitY. This action follows the erroneous removal of a PM Modi video, which the government deemed inadequately explained by Meta. Now, such content will require review by at least two senior officials. Meta also faces broader regulatory scrutiny regarding child safety advertisements and WhatsApp's new username feature.".

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Source: inc42

Fintech IPO Wave, Zepto May Defer Listing & More

Business

A new wave of fintech startups, including Fibe, Moneyview, and PhonePe, is preparing for IPOs with a shift toward profitability and balance sheet strength over raw growth. Meanwhile, Zepto may delay its listing due to valuation disagreements. Other updates include Freehand raising $75 million for AI supply chain tools, BharatGen scaling multimodal models, and strong quarterly profit growth for listed firms like Kissht and BlackBuck.

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Source: inc42

SUIND Bags ₹20.5 Cr To Build Autonomous Surveillance Drones

Business

"Drone tech startup SUIND has raised ₹20.5 crore in a seed funding round led by Transition VC and IIMA Ventures. Founded in 2020, the company develops autonomous drones utilizing computer vision for navigation in GPS-denied environments. SUIND will use the capital to scale its DGCA-certified agri-drone, Bumblebee, and accelerate the development of WASP, a platform for industrial monitoring, security, and defense applications within India and abroad.".

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Source: inc42

InCred Finance Q1: Profit Jumps 82% YoY To ₹172 Cr

Business

"InCred Financial Services reported a consolidated net profit of ₹172 crore for Q1 FY27, marking an 82% increase from the previous year. This growth was driven by increased loan disbursements and strong asset quality, with gross NPAs falling to 2%. Meanwhile, parent company InCred Holdings is preparing for an IPO, which will include a fresh issue of up to ₹1,250 crore and an offer for sale.".

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Source: inc42

Peak XV Partners Again Dumps Go Digit Shares Worth ₹139 Cr

Business

"VC giant Peak XV Partners offloaded shares of insurtech company Go Digit worth nearly ₹139 crore in a block deal, with ICICI Prudential Mutual Fund as the buyer. This marks the second such sale in two months, following a ₹100 crore deal in June. The move comes amid a stock sell-off, declining profits, and a ₹384.4 crore tax demand, despite recent CCI approval for the company's corporate amalgamation.".

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Source: inc42

Kissht Q1 Profit Surges 59% YoY To ₹95 Cr

Business

"Recently listed NBFC Kissht reported a strong performance for Q1 FY27, with consolidated net profit jumping 59% year-on-year and 16% sequentially to ₹95.1 crore. Operating revenue grew 45% YoY and 8% QoQ, reaching ₹669.5 crore, while total income stood at ₹676.5 crore. The company's total expenses for the quarter were ₹548.9 crore, and tax expenses increased by 63% year-on-year to reach ₹32.6 crore.".

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Source: inc42

Tata Communications Amps Up Voice AI Play For India’s SMBs

Business

Tata Communications and Tata Tele Business Services have launched a Voice AI platform targeting India's 63 million small and medium businesses. Powered by Commotion's technology and Vayu AI Cloud, the platform provides AI voice agents for customer support, bookings, and order management. To encourage adoption, the companies are utilizing a subscription-based, outcome-linked pricing model, aiming to monetize their AI infrastructure and expand AI accessibility for SMBs.

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Source: inc42

Freehand Raises $75 Mn To Expand Enterprise AI Platform

Business

"Freehand, an AI startup founded in 2024 by Pando cofounders, has raised $75 million in a funding round co-led by Battery Ventures and NewRoad Capital Partners. The San Francisco-based company develops autonomous AI agents to automate enterprise supply chain operations, including procurement and payments. Already deployed at firms like Meta and Pfizer, Freehand's platform aims to replace legacy software and reduce procure-to-pay cycles by over 70%.".

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Source: inc42

BlueStone, SafeGold Partner To Convert Household Gold Into Digital Gold

Business

"BlueStone and SafeGold have partnered to launch a gold-monetisation initiative that converts physical household gold into yield-bearing digital assets. Customers deposit gold at BlueStone stores to receive 24K digital gold on SafeGold’s platform, which can be leased to jewellers for an annual yield of approximately 4%. This effort aims to monetise 30,000 tonnes of idle gold, reducing India's import reliance and supporting domestic jewellers.".

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Source: inc42

Centre Invests ₹22.5K Cr In 128 Startups Via Electronics Development Fund

Business

The government's Electronics Development Fund (EDF) has supported 128 startups and companies, which have collectively raised ₹22,553.82 crore. By investing ₹257.77 crore across eight daughter funds, the EDF helped deploy ₹1,335.77 crore into the electronics and IT sectors. Karnataka led the investments with 90 backed companies. This initiative aligns with broader efforts to strengthen India's semiconductor and electronics manufacturing ecosystem through programs like Semicon 2.0.

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Source: inc42

TBO Tek Q1: Profit Surges 32% YoY To ₹83.3 Cr

Business

B2B travel tech company TBO Tek reported a 32% year-on-year increase in consolidated net profit to ₹83.4 crore for the June 2026 quarter. This represents a 39% sequential jump from the preceding March quarter. Operating revenue surged 81% year-on-year to ₹925.8 crore, while total income reached ₹938.7 crore. Total expenses rose 83% year-on-year to ₹835.4 crore, aligning with the company's significant top-line growth during this period.

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Source: inc42

Fintech’s Second IPO Wave: This Time, It’s About Profits

Business

A new wave of Indian fintech startups, including Fibe, Moneyview, and PhonePe, is preparing for IPOs, marking a shift toward a more mature sector. Unlike the 2021 cycle, current investors prioritize sustainable profitability, disciplined valuations, and diversified revenue streams over rapid growth. These companies are now evaluated as financial services businesses, focusing on execution, governance, and the ability to compound earnings profitably within a tighter regulatory environment.

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Source: inc42

Semiconductor Major Marvell To Invest $250 Mn in India, Double Headcount

Business

US-based Marvell Technology will invest $250 million in India over three years to enhance its AI chip development and data infrastructure capabilities. The company plans to double its Indian engineering workforce and expand its offices in Bengaluru and Hyderabad. This move aligns with India's growing semiconductor market and the government's ₹1.28 Lakh Cr outlay for the Indian Semiconductor Mission to strengthen domestic chip design and innovation.

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Source: inc42

Aequs Reports ₹53.2 Cr Loss In Q1 Despite A 55% YoY Jump In Revenue

Business

Contract manufacturing company Aequs reported a net loss of ₹53.2 crore for the June quarter (Q1 FY27), shifting from a net profit of ₹3.6 crore in the same period last year. While operating revenue grew 55% year-on-year to ₹395.6 crore, total expenditure surged 67% to ₹380.8 crore. Total income for the quarter reached ₹402.3 crore, and the company marginally reduced its sequential net loss by 0.9%.

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Source: inc42

Pine Labs Shares Slide 5.6% After Q1 Profit Slumps 67% QoQ

Business

Pine Labs shares dropped over 5% following Q1 FY27 results, which showed a 67% sequential profit decline to ₹19.6 crore despite 20% year-on-year revenue growth. The company attributed compressed margins to strategic investments in AI, cloud infrastructure, and international expansion. While brokerage Citi lowered its target price to ₹215, management expects profitability to recover as one-time costs normalize and transaction volumes increase through UPI and credit products.

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Source: inc42

Zepto Mulls IPO Delay As Investors Push For $2.5-$3 Bn Valuation

Business

Zepto is considering delaying its IPO due to a valuation gap with institutional investors, who are seeking a valuation between $2.5 billion and $3 billion. This is significantly lower than the company's previous $7 billion private market valuation. Investors are concerned about Zepto's widening losses and high cash burn amid intense competition. The company is negotiating before its IPO papers expire on August 21 to secure funding for expansion.

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Source: inc42

Freshworks Appoints Ryan Manning As CPTO, CPO Raghavan Exits

Business

"Freshworks has appointed former ServiceNow executive Ryan Manning as its new chief product and technology officer, effective August 10. Manning succeeds Srini Raghavan and will oversee product and technology strategy for AI, IT, and customer experience products. This leadership change follows significant executive churn and restructuring efforts to prioritize AI. Financially, the company reported a $4.8 million net loss in the first quarter of 2026 despite revenue growth.".

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