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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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Source: inc42

IPO-Bound OfBusiness’ FY26 Profit Jumps 21% YoY To ₹724 Cr

Business

IPO-bound B2B ecommerce startup OfBusiness reported a 21% increase in FY26 consolidated net profit to ₹724 Cr, despite flat operating revenue of ₹20,645 Cr. EBITDA rose 34% to ₹769 Cr. Its lending arm, Oxyzo Financial Services, saw its asset base grow 28% to ₹11,822 Cr with net profit reaching ₹375.5 Cr. The company is preparing for an IPO targeting a $750 million to $1 billion raise at a $6-9 billion valuation. (73 words) -.

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Source: inc42

BlackBuck Q1: Profit Increases 25% To ₹42 Cr, Revenue Zooms 42% YoY

Business

Logistics company BlackBuck reported a net profit of ₹42.2 crore for Q1 FY27, marking a 25% increase year-over-year but a 56% decline from the previous quarter. Operating revenue grew 42% YoY and 10% QoQ to ₹204.2 crore, with total income reaching ₹220.5 crore. Meanwhile, total expenses rose 57% year-over-year to ₹178.4 crore, and the company recorded a deferred tax gain of ₹45 lakh.

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Source: inc42

Fintech Startups To Watch: Startups That Caught Our Eye In July

Business

In July, India's fintech sector saw strategic expansion and regulatory shifts. Lending unicorn Moneyview received SEBI approval for a ₹1,500 Cr IPO, while M&A activity grew with Mynd Fintech and Zaggle making key acquisitions. Despite a slight dip in UPI transactions, the RBI explored raising merchant limits. Additionally, new crypto reporting and foreign investment rules emerged, alongside the rise of AI-driven startups in investing and lending. (69 words) -.

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Source: inc42

Now, Uber Moves Karnataka HC Challenging State’s Gig Workers Law

Business

Uber has challenged the constitutional validity of Karnataka’s Platform-Based Gig Workers Act in the High Court, arguing it overlaps with the central Code on Social Security. The ride-hailing company claims the state law imposes redundant financial and compliance burdens. The court granted Uber interim protection from coercive action, aligning it with other platforms. This case will determine if states can maintain separate gig worker welfare regimes.

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Source: inc42

Revspot Raises $4.8 Mn To Scale AI Sales Automation Platform

Business

AI sales automation startup Revspot has raised $4.8 million in a Series A round co-led by Inflexor Ventures and Info Edge Ventures. The Bengaluru-based company will use the capital to enhance its buyer-intelligence platform, expand its product development in India, and enter new high-ticket B2C sectors and international markets. Revspot’s AI-powered platform helps businesses identify and qualify high-intent buyers across sectors like real estate and education.

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Source: inc42

BharatGen CEO On Why Models Alone Can’t Help India Gain In The AI Race

Business

BharatGen, a non-profit consortium anchored at IIT Bombay and funded with ₹988.6 crore from the IndiaAI Mission, is developing multilingual and multimodal AI models for 22 scheduled Indian languages. Through its Param, Patram, Sooktam, and Shrutam families, the initiative focuses on sovereign AI, research, and cultural diversity. It is also building the Bharat Data Sagar repository and deploying purpose-driven tools for agriculture and commerce.

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Source: inc42

CarTrade Q1: Profit Jumps 21% To ₹57 Cr, Revenue Up 16% YoY

Business

CarTrade reported a 20.6% year-on-year increase in consolidated net profit to ₹56.8 crore for the first quarter of FY27, up from ₹47.1 crore. However, profit fell 19.8% sequentially from ₹70.8 crore in the March quarter. Operating revenue grew 16.3% to ₹201.2 crore, while total revenue reached ₹229.7 crore, including other income. The company's total expenditure for the June quarter stood at ₹152.1 crore.

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