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Source: inc42

Templeā€™s Valuation Jackpot, PhonePeā€™s FY26 Losses & More

Business

Deepinder Goyalā€™s wearable startup, Temple, reached a $375 million valuation, initiating an ESOP buyback. Meanwhile, PhonePe reported a widened FY26 loss of ā‚¹2,792 crore, pausing its IPO. In other news, the CBDT introduced new crypto reporting norms, Omega Seiki raised ā‚¹50 crore for EV expansion, and Zepto won a trademark battle. Additionally, IndiaMART invested in Fleetx, and TakeMe2Space is developing orbital AI data centers.

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Source: inc42

Tata Digital Posts Nearly ā‚¹5,000 Cr Loss In FY26 As BigBasket Bleeds

Business

Tata Digital's FY26 revenue rose 11.9% to ā‚¹35,990 crore, yet net losses grew to ā‚¹4,974 crore, primarily driven by BigBasket's quick commerce expansion. While GMV reached ā‚¹46,515 crore, several subsidiaries remained unprofitable. Consequently, the group is pivoting the Tata Neu super app toward financial services and loyalty offerings. Meanwhile, Tata Electronics saw revenue surge 97% to ā‚¹1.31 lakh crore as it scales semiconductor manufacturing capabilities.

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Source: inc42

Ex-Share.Market CEO Ujjwal Jain Launches Wealth Management Startup Atyx.AI

Business

Former Share.Market CEO Ujjwal Jain and ex-Microsoft researcher Debopam Bhattacharjee have launched Atyx.AI, a Bengaluru-based fintech startup. The bootstrapped venture aims to reimagine wealth management for affluent customers using an AI-first approach. Jain, a serial entrepreneur whose previous companies were acquired by PhonePe, partners with Bhattacharjee, a PhD from ETH Zurich, to build a platform that breaks traditional barriers in the private wealth industry.

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Source: inc42

Delhi HC Restrains ā€˜Zepto Financeā€™ From Using Zepto Trademark

Business

The Delhi High Court has granted an interim injunction against "Zepto Finance," restraining it from using the "Zepto" trademark due to consumer confusion and trademark infringement. The court found that the quick commerce startup had established significant goodwill since 2021. This legal victory comes as Zepto expands its financial services and prepares for an IPO, with a potential valuation of around $5.1 billion, to fund further growth.

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Source: inc42

Why Enterprise Trust Is Indiaā€™s Next AI Growth Frontier

Business

Enterprise AI is shifting its focus from model capability to data trust and control. Recent security concerns highlight that "zero data retention" is often a promise rather than an architectural reality. To address this, enterprises are adopting a five-layer trust framework covering models, learning, gateways, perimeters, and verification. This shift creates significant opportunities for AI-native security and on-premise solutions, particularly for Indian AI startups and IT firms.

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Source: inc42

Can TakeMe2Space Build The AWS Of Space?

Business

Hyderabad-based startup TakeMe2Space is developing orbital computing infrastructure to process AI models and satellite data directly in space. By reducing the need to transmit raw data to Earth, the company aims to lower costs and latency. After a failed PSLV mission, the startup plans a new launch via SpaceXā€™s Falcon 9 in October to scale its OrbitLab platform and build a constellation of compute satellites.

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Source: inc42

IndiaMART To Invest ā‚¹65 Cr More In Fleetx, Raise Stake To 25.8%

Business

IndiaMART InterMESH is investing approximately ā‚¹65 crore in fleet management startup Fleetx, increasing its stake to 25.8%. This move aligns with IndiaMART's strategy to expand its SaaS portfolio beyond its core B2B marketplace. Fleetx provides AI-powered logistics software and reported FY25 revenue of ā‚¹77.8 crore. This investment follows IndiaMART's previous funding rounds in 2022 and 2025, amid mixed investor sentiment regarding IndiaMART's subscriber growth.

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Source: inc42

IPO-Bound PhonePe Posts ā‚¹2,792 Cr Loss In FY26, Revenue Up 11.5% YoY

Business

PhonePe's net loss widened by 62% to ā‚¹2,792 crore in FY26, despite an 11.5% rise in operating revenue to ā‚¹7,920.5 crore. Total expenses surged 16% to ā‚¹10,588.5 crore, driven by higher employee costs, increased marketing spend, and one-time write-offs from Indus Appstore and Pincode. Amidst these profitability challenges, the fintech giant has deferred its IPO plans while continuing to expand its merchant payments and financial services offerings.

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Source: inc42

CBDTā€™s Crypto Asset Reporting Guidance Raises Compliance Bar For Exchanges

Business

The Central Board of Direct Taxes has issued the Crypto-Asset Reporting Framework (CARF) guidance, requiring crypto service providers to report specified transactions via Form 167 starting in 2026. The framework focuses on increasing visibility into cross-border activities and verifying users' tax residency. While it aligns India with global transparency standards, the guidance does not introduce new taxes or determine the legality of virtual digital assets in India.

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Source: inc42

Bombay HC Allows Nitin Gadkari To Sue Meta, Google, X Over Circulation Of Deepfakes

Business

"The Bombay High Court has permitted Union minister Nitin Gadkari to file a civil suit against Meta, Google, X, and other entities over AI-generated deepfakes. Gadkari alleges that defamatory content falsely links him and his family to financial gains from the government's E20 fuel programme. This case serves as a significant legal test for platform liability, personality rights, and the regulation of AI-driven disinformation within India.".

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Source: inc42

Deepinder Goyalā€™s Templeā€™s Valuation Doubles To $375 Mn: Report

Business

"Deepinder Goyalā€™s wearable startup, Temple, has doubled its valuation to $375 million and launched its first ESOP liquidity program for select employees. The company, which develops a forehead-worn device for real-time metabolic monitoring, previously raised $54 million in seed funding. Amid growing investor interest in longevity technologies, Temple is reportedly seeing valuations up to $500 million as it prepares for its next funding round.".

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Source: inc42

Bombay Shaving Company Claims Adjusted EBITDA Profitability In FY26, Loss Narrows 97%

Business

Visage Lines, the parent company of Bombay Shaving Company, reported a consolidated net loss of ā‚¹9 crore for FY26, a 97.4% decrease from the previous year. Operating revenue surged 139% to ā‚¹634.7 crore, and the company achieved an adjusted EBITDA profit of ā‚¹2.2 crore. Growth was driven by omnichannel expansion and a broader product portfolio. The startup now targets ā‚¹1,000 crore in revenue for FY27.

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Source: inc42

EV Manufacturer Omega Seiki Nets ā‚¹50 Cr To Expand Capacity

Business

"EV manufacturer Omega Seiki Mobility (OSM) has raised ā‚¹50 crore ($5.2 million) from the Saket Aggarwal Family Office, Securocorp Securities, and angel investors. The company plans to use the funds to expand manufacturing capacity, enhance research and development, and grow its nationwide service network. This investment comes amid rising demand from e-commerce and FMCG firms, supported by government subsidies under the PM E-DRIVE schemes.".

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Source: inc42

Infosys Cofounder Nandan Nilekani To Lead PM Modiā€™s Exam Reforms Task Force

Business

"Prime Minister Narendra Modi has established a high-powered task force led by Infosys co-founder Nandan Nilekani to implement technology-driven reforms in India's public examination system. Aimed at curbing paper leaks and enhancing transparency, the move follows widespread protests over NEET irregularities. Alongside the panel, the government is introducing fast-track courts and stricter penalties under the Public Examinations (Prevention of Unfair Means) Act to combat examination fraud.".

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Source: inc42

Crypto Debate Resurfaces, Weekly Funding Tanks & More

Business

A parliamentary panel suggests a self-regulatory organization to govern India's crypto assets, moving beyond taxation. Meanwhile, Indian startup funding fell 26% last week to $209 million, with most new-age tech stocks trending bearish. ShareChat is preparing for a $400 million IPO after achieving.

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Source: inc42

Paytm Dreams The AI Dream

Business

Paytm is diversifying its business by launching an enterprise AI software vertical, offering in-house tools for merchant lifecycle insights and fraud detection to external businesses. This move follows a strong Q1 FY27, where the company reported a 79% jump in net profit to ā‚¹220 Cr. While expanding into AI, Paytm continues to grow its core payments and financial services sectors and is reapplying for a PPI wallet license.

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Source: inc42

Flipkartā€™s Digital Mall Now Has A Food Court

Business

Flipkart is set to enter India's food delivery market, launching a pilot in Bengaluru to challenge incumbents Zomato and Swiggy. Utilizing a marketplace model and the ONDC network, the e-commerce giant aims to leverage its 500 million registered users to increase daily engagement. This move is part of Flipkart's broader strategy to build a comprehensive digital ecosystem encompassing quick commerce, fashion, travel, and entertainment services.

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Source: inc42

Swiggy Plummets, BlueStone Soars Amid Bearish Week For New-Age Tech Stocks

Business

India's new-age tech stocks faced a bearish week, with combined market capitalization falling to $138.25 billion. Geopolitical tensions and quarterly earnings drove volatility, leaving 43 of 59 tracked stocks in the red. Swiggy was the biggest loser, dropping over 9% due to foreign ownership caps. Conversely, BlueStone surged nearly 29% following strong quarterly profits. Other notable events included InMobi's planned $1 billion IPO and Ather Energy's capital raise.

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Source: Startup

From Zetwerk To Veriqus ā€” Indian Startups Raised $209 Mn This Week

Business ā€¢ via Startup ā€¢ Lokesh Choudhary

Indian startups raised $209.1 million across 14 deals from July 18 to 24, a 26% decrease from the previous week. The decline was primarily due to lower deal volume, though four rounds exceeding $40 million accounted for over 80% of the total. Enterprise Services and Enterprisetech led funding, while AI activity plummeted. Additionally, InMobi is planning a $1 billion IPO, and Ather Energy raised ā‚¹1,300 crore through a QIP.

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Source: Startup

Veefin Gets Board Nod To Raise ā‚¹35 Cr Debt

Business ā€¢ via Startup ā€¢ Team Inc42

BSE SME-listed Veefin Solutions has received board approval to raise up to ā‚¹35 crore through the issuance of non-convertible debentures via private placement. The funds will support working capital, acquisitions, and scaling efforts without diluting shareholder equity. This move follows shareholder approval for the company's migration to the mainboard listing. Veefin recently reported significant growth, with FY26 revenue surging 339% to ā‚¹345.1 crore and net profits nearly doubling.

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