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Source: inc42

OpenAI Open To Slowing AI Development Amid Safety Concerns: Sam Altman

Business

OpenAI's CEO indicated openness to slowing advanced AI development with other companies to ensure adequate safeguards, citing competitive pressures. Separately, OpenAI paused new Pro plan subscriptions due to "unprecedented" demand for its Astra model, aiming to maintain service quality for existing users. Meanwhile, concerns about AI misuse intensify, with.

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Source: inc42

Govt Tightens Ecommerce Rules Ahead Of The Festive Season

Business

The Indian government has introduced the Consumer Protection (E-Commerce) (Amendment) Rules, 2026, effective January 2027, to combat dark patterns and enhance transparency. Online marketplaces must now disclose sponsored listings, provide genuine discount pricing, and conduct annual self-audits. Additionally, platforms must obtain express consent for data use and partner with the national consumer helpline to resolve grievances, addressing rising consumer complaints during peak festive sales.

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Source: inc42

GFF 2026: Fintech-AI Partnerships Take The Centre Stage On Day 2

Business

The second day of the Global Fintech Festival 2026 highlighted AI-driven partnerships between traditional financial institutions and fintech firms. Key developments included Mahindra Finance and Sarvam’s voice AI deployment, Yes Bank and Open’s i-Mandate for recurring payments, and Navi’s UPI infrastructure upgrade with IndusInd Bank. Additionally, Gnani AI launched the Artha platform for BFSI, while MobiKwik, Xflow, and CCAvenue expanded their respective digital payment and forex services.

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Source: inc42

Meesho Discontinues CPO Role, Restructures Product Team

Business

"Meesho is restructuring its product leadership team and discontinuing the Chief Product Officer role. Consequently, current CPO Prasanna Arunachalam will no longer be designated as senior management personnel, although he remains with the company. Product leaders will now report directly to their respective business heads to better align strategy and execution. This organizational shift follows Meesho's recent IPO and a reported reduction in net losses for Q1 FY27.".

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Source: inc42

PhonePe, Visa Partner For Cardless Payments In India, 14 Overseas Markets

Business

PhonePe and Visa have partnered to launch three new payment solutions. These include Tap to Pay for domestic in-store transactions, allowing Android users to pay with tokenized cards. Cross Border Scan to Pay will enable overseas payments in 14 markets using tokenized cards. Additionally, Smart Accept will let small merchants accept contactless card payments directly on their smartphones, expanding PhonePe's card offerings and simplifying transactions for users and businesses.

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Source: inc42

Navana.ai Raises ₹40 Cr To Scale Voice AI Platform

Business

Voice AI startup Navana.ai has raised ₹40 Cr ($4.2 Mn) in Series A funding, led by Ronnie Screwvala. The capital will scale its voice AI platform across the BFSI sector, strengthen speech models for Indian languages and dialects, and accelerate AI Contact Centre development. This investment underscores the push to extend digital services beyond.

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Source: inc42

D2C Pet Food Startup Lickicious Raises ₹19 Cr To Expand Operations

Business

D2C pet food startup Lickicious has raised ₹19 Cr in equity and institutional debt, led by Prath Ventures. The capital will fund a 60,000 sq ft manufacturing and distribution facility, strengthen R&D, and expand product categories, species, and sales channels. This strategic move positions Lickicious to capitalize on India's rapidly growing pet food market, driven by increasing pet ownership and demand for premium,.

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Source: inc42

Flipkart’s Next Video Commerce Bet: Microdramas

Business

Flipkart is venturing into microdramas to integrate entertainment into its commerce and advertising ecosystem. By weaving products directly into short-form stories, the e-commerce giant aims to boost user engagement and create high-margin advertising inventory. Leveraging its acquisition of Pinkvilla and low-cost licensing, Flipkart seeks a cost-effective way to drive conversions and diversify revenue streams beyond traditional retail, mirroring Amazon's strategy of blending content with commerce.

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Source: inc42

How Zeelab Is Turning Its Affordable Pharma Play Into A ₹200 Cr Business

Business

"Zeelab Pharmacy aims to double its FY26 operating revenue from ₹110 Cr to ₹200 Cr in FY27. Founded by Rohit Mukul, the company focuses on medicine affordability by eliminating supply chain intermediaries. With over 300 company-owned stores, Zeelab employs an omnichannel strategy, using physical outlets as retail points and fulfillment centers to enable fast delivery while competing with initiatives like the government's Jan Aushadhi.".

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Source: inc42

D2C Luggage Brand Mokobara Bags ₹170 Cr

Business

Travel and lifestyle brand Mokobara has raised ₹170 crore (approximately $18 million) in a Series C funding round led by Sauce.vc, with participation from Peak XV Partners and other investors. Founded in 2019, the company sells premium luggage and travel accessories through online platforms and 50 physical stores. Despite reporting a ₹10.2 crore loss in FY25, its operating revenue nearly doubled to ₹230.2 crore as it expands internationally.

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Source: inc42

ESDS Listing Pushes New-Age Tech Stocks’ Market Cap Past $170 Bn

Business

The combined market capitalization of 63 Indian new-age tech companies reached approximately $170.50 billion in early September, bolstered by the listing of ESDS Software Solution. While Lenskart and Ather Energy hit all-time highs, others like FirstCry saw declines. The period featured significant IPO activity from Meritto and RentoMojo, alongside institutional stake sales. Meanwhile, broader Indian equity markets dipped due to rising crude oil prices and global interest rate uncertainty. (70 words) -.

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Source: inc42

From Ultrahuman To Comet — Indian Startups Raised Over $177 Mn This Week

Business

Indian startups raised $176.5 million across 22 deals from August 31 to September 4, a 16% decline from the previous week. Healthtech and cleantech dominated, securing $120.8 million, driven by Ultrahuman and Yuma Energy. Notable M&A activity included upGrad's acquisition of Unacademy and Adobe's purchase of Rilo. Additionally, ESDS Software Solution saw a strong IPO debut, while Yotta Data Services plans a future public listing.

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Source: inc42

KRAFTON To Invest $250 Mn In Indian AI & Deeptech Startups

Business

"South Korean gaming giant KRAFTON plans to invest an additional $250 million in Indian startups over the next three to four years, bringing its total planned investment to $500 million. Beyond gaming, the company is expanding its focus to include AI, robotics, and deeptech. This strategic move follows a meeting between KRAFTON chairman Byung Gyu Chang and Prime Minister Narendra Modi to discuss innovation and emerging technologies.".

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Source: inc42

Meritto Parent NoPaperForms Files Updated DRHP For ₹375 Cr+ IPO

Business

NoPaperForms, the parent company of Meritto and Collexo, has filed an updated draft red herring prospectus with SEBI for its initial public offering. The IPO includes a ₹375 crore fresh issue and an offer for sale by Info Edge. The company plans to use proceeds for technology upgrades and customer acquisition. In FY26, NoPaperForms reported operating revenue of ₹115.6 crore and a profit surge of 534% to ₹11.9 crore.

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Source: inc42

SUGAR Cosmetics Raises ₹145 Cr From A91 At A Near 80% Valuation Cut

Business

SUGAR Cosmetics raised approximately ₹145 crore in equity funding from A91 Partners, but its valuation plummeted 75-80% to between ₹550 crore and ₹600 crore. For FY25, the beauty brand reported a 20% drop in operating revenue to ₹404.4 crore, while net losses nearly doubled to ₹135 crore. This financial deterioration is attributed to aggressive offline expansion, which forced the closure of many physical stores.

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Source: inc42

Inside Urban Company’s Marketplace Model: What It Earns From Every Booking

Business

Urban Company reported Q1 FY27 revenue of ₹528 crore and a net loss of ₹92 crore, despite its core India consumer-services business crossing ₹1,000 crore in quarterly NTV. While the core marketplace remains profitable, the company is investing heavily in InstaHelp, its on-demand home-help venture, which recorded a ₹132 crore loss. Management views InstaHelp as a long-term strategy for frequency and cross-selling over immediate profitability.

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Source: inc42

Innoviti Slashes FY26 Loss By 57% To ₹26.7 Cr, Revenue Dips By 17%

Business

"Bessemer Venture Partners-backed digital payments startup Innoviti reduced its net loss by over 57% to ₹26.7 Cr in FY26, despite a 16.7% revenue decline to ₹118.9 Cr. The company achieved this by cutting total expenses by nearly 28% to ₹148.9 Cr. Innoviti, which recently received RBI payment aggregator authorization, expects to turn EBITDA positive in FY27 and continues to plan for a future public market debut.".

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Source: inc42

Flipkart Minutes Could Add 1,000 Dark Stores By Mid-2027: UBS

Business

Flipkart Minutes plans to add 1,000 dark stores by mid-2027, potentially doubling its network to 2,000 locations to compete with Blinkit. According to a UBS report, the service's net order value is now comparable to Blinkit's. Flipkart is also diversifying its assortment with premium groceries and expanding into Tier II and III cities as India's quick commerce market is projected to reach $40 billion by 2030.

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Source: inc42

D2C Sneaker Brand Comet Raises ₹100 Cr To Expand Offline Presence

Business

"D2C sneaker brand Comet has raised ₹100 crore in a Series B funding round led by Verlinvest, with participation from Elevation Capital, Nexus Venture Partners, and several angel investors. The startup plans to use the capital to expand its retail footprint from 10 to 20 stores, double its footwear portfolio, and invest in research and development, including the launch of its first female-focused sneaker line.".

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Source: inc42

Ola Electric Opens First Dealer-Led Stores, Eyes 500-Outlet Network

Business

Ola Electric is transitioning from a company-owned retail model to a dealer-operated network, launching its first stores across seven Indian states. The company aims to establish over 500 dealerships within two quarters to expand market reach and resolve long-standing after-sales service issues. Existing outlets will become product experience centres, while dealer partners manage local sales and service to reduce costs and improve customer support.

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