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Source: Startup

SaaS Company BUSINESSNEXT Raises $40 Mn At $700 Mn Valuation

Business • via Startup • Palak Sharma

"AI-powered SaaS company BUSINESSNEXT has raised $40 million in a Series C round from ServiceNow Ventures, valuing the firm at $700 million. The investment gives ServiceNow Ventures a 5% stake. BUSINESSNEXT plans to use the capital to expand its international presence and advance agentic AI for autonomous banking. Additionally, the company will integrate ServiceNow’s AI platform to enhance governance and observability for financial institutions deploying AI agents.".

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Source: Startup

Eternal Jump 4.5% As Brokerages Cheer Q1 Growth, Blinkit Margin Outlook

Business • via Startup • Shrishti Bisht

Shares of Eternal jumped as much as 4.5% on the BSE today to hit an intraday high of ₹296.15 after.

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Source: Startup

Eternal Rolls In Q1 Profits, Zetwerk Vs Ayr Energy & More

Business • via Startup • Team Inc42

The prompt asks to summarize the "news article content". Since the content is a newsletter/digest with multiple stories, I should ideally cover the main story (Eternal) and briefly mention the other key updates to be comprehensive, or focus on the lead story if it dominates. However, usually, a summary of a digest should touch upon the main highlights.

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Source: Startup

Quick Commerce Discounting Wars Nearing End: Eternal CEO

Business • via Startup • Lokesh Choudhary

Eternal CEO Albinder Dhindsa suggests that the quick commerce industry's aggressive discounting war is peaking, as further subsidies would significantly increase losses. Blinkit is shifting its strategy toward investing in infrastructure, dark stores, and service quality to achieve sustainable profitability. Despite competition from Amazon, Flipkart, and Zepto, Blinkit reported a Q1 consolidated net profit of ₹92 crore, emphasizing structural advantages over discount-led customer acquisition.

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Source: Startup

InCred Finance’s FY26 Profit Increases 17% YoY To ₹438 Cr, Revenue Up 36%

Business • via Startup • Anne Florentyna

InCred Financial Services reported a consolidated net profit of ₹438 crore for FY26, a 17.1% increase from the previous year. Total income rose 36.3% to ₹2,567 crore, driven by a 22% growth in managed assets to ₹17,748 crore. Despite this growth, profitability moderated due to higher credit costs. The IPO-bound company plans a public issue featuring a fresh share sale of up to ₹1,250 crore.

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Source: Startup

IPO-Bound Zetwerk Sued By Ayr Energy In US, Faces $1 Bn Damages Claim

Business • via Startup • Shrishti Bisht

Ayr Energy has sued Zetwerk in the US, seeking at least $1 billion in damages and an import ban over allegations of trade secret theft, trademark infringement, and false advertising. This escalates a legal battle after Zetwerk previously sued Ayr for $100 million, claiming its founder stole confidential data. The dispute over proprietary information and unfair competition occurs as Zetwerk prepares for its upcoming public listing in India.

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Source: Startup

IndiaMART Shares Sink 7.5% To 52-Week Low As Paid Supplier Concerns Mount

Business • via Startup • Shrishti Bisht

"IndiaMART shares hit a 52-week low, closing 5.25% lower at ₹1,817.40 despite a 12% year-on-year increase in Q1 FY27 net profit to ₹172.2 crore. Investors reacted negatively to a third consecutive quarterly decline in paid suppliers, particularly within the silver tier. Brokerages Jefferies and Nomura maintained cautious ratings. Meanwhile, the company approved the creation of IndiaMART Finance to facilitate credit through lending partners for its users.".

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Source: Startup

InGovern Asks SEBI To Examine Meesho’s GST Disclosures

Business • via Startup • Team Inc42

"Proxy advisory firm InGovern has urged SEBI to examine the GST classification used by Meesho's logistics arm, Valmo Transportation. InGovern alleges that Meesho applied a lower 5% tax rate instead of 18%, artificially reducing shipping costs and enhancing unit economics. While Meesho denies these claims and maintains full compliance, InGovern argues that the potential for retrospective tax liabilities constitutes a material risk that requires transparent disclosure to investors.".

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Source: Startup

Soket AI Wants To Turn The Language Gap In AI Into India’s Edge

Business • via Startup • Ankush Das

Soket AI Labs is developing Project EKA, a 120 billion-parameter open-source foundation model targeting Indian and over 20 Global South languages. Backed by ₹177 crore from the IndiaAI Mission, the startup focuses on reasoning, mathematics, and coding to support sectors like banking and defense. The company plans to release a smaller 24 billion-parameter model by 2026 before launching the full-scale version in 2027 to reduce foreign AI dependence.

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Source: Startup

Blinkit’s Q1 Adjusted EBITDA Rises To ₹102 Cr; ‘Others’ Losses Rise On Nugget R&D

Business • via Startup • Palak Sharma

Blinkit's adjusted EBITDA rose to ₹102 crore in Q1 FY27, up from ₹37 crore in the previous quarter, driven by strong revenue growth of 18.4% to ₹15,664 crore. This growth followed the addition of 200 dark stores, bringing the total to 2,443. Conversely, Eternal’s “Others” segment saw its adjusted EBITDA loss widen to ₹94 crore from ₹45 crore, primarily due to R&D investments for its AI platform, Nugget.

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Source: Startup

Eternal Q1: Profit Rises 3X YoY To ₹92 Cr But Declines 47% Sequentially

Business • via Startup • Akshit Pushkarna

Eternal, the parent company of Zomato and Blinkit, reported a consolidated net profit of ₹92 crore for the first quarter of FY27. This represents a nearly threefold increase from the ₹25 crore profit recorded in the same quarter last year, though it marks a 48% sequential decline from ₹174 crore. Operating revenue surged 182% year-on-year and 17% quarter-on-quarter, reaching ₹20,211 crore during the period under review.

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Source: Startup

Why India Is Betting On Chip Design Startups With ₹1.25 Lakh Cr ISM 2.0

Business • via Startup • Shraddha Goled

The Indian government is launching Semicon 2.0, shifting the India Semiconductor Mission's focus from general manufacturing to electronics systems and chip design. Moving beyond the grant-based model of the first phase, the government will now employ a grant-plus-equity approach, matching private investments to support fabless startups. This strategic shift aims to leverage India's design talent to create globally competitive semiconductor companies through catalytic capital.

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Source: Startup

Aye Finance Q1 Profit Jumps 144% YoY To ₹74.5 Cr

Business • via Startup • Lokesh Choudhary

NBFC Aye Finance reported a 143.5% year-on-year increase in net profit to ₹74.5 crore for the quarter ended June 2026. Revenue from operations rose 17.7% to ₹477.4 crore, while assets under management grew 28% to ₹7,324 crore. The company saw improved asset quality, with GNPA declining to 4.49%. Additionally, the board approved a proposal to raise up to ₹4,000.

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Source: Startup

Smartworks Posts ₹13 Cr Profit In Q1, Revenue Zooms 44% YoY To ₹546 Cr

Business • via Startup • Palak Sharma

Coworking provider Smartworks reported a consolidated net profit of ₹13.1 crore for Q1 FY27, reversing a ₹4.2 crore loss from the same period last year, though profit fell 21% sequentially from Q4 FY26. Operating revenue grew 44% year-on-year to ₹546.2 crore, while total income reached ₹559.7 crore. Meanwhile, total expenses increased by 37.7% to ₹542.1 crore compared to the previous year's first quarter.

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Source: Startup

Orbit Achieved, Scale Pending: Why India’s Space Startups Need State-Backed Capital

Business • via Startup • Pranav Pai

Skyroot’s Vikram-1 successfully reached orbit on its first attempt, demonstrating India's exceptional capital efficiency in space technology compared to global competitors. While government venture capital has de-risked prototypes, the industry now requires sustained demand to scale manufacturing. To build a globally competitive sector, the Indian state must transition from providing subsidies to acting as an anchor customer through long-term procurement contracts for satellite launches.

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Source: Startup

Bira 91 Founder Ankur Jain Steps Down, Gives Up 17.8% Stake In Settlement

Business • via Startup • Shrishti Bisht

Ankur Jain, founder of Bira 91 parent B9 Beverages, has stepped down from the board and surrendered his family's 17.8% stake. This settlement with investors and lenders ends a two-year dispute and releases Jain from personal liabilities. The move clears the way for recapitalization to address approximately ₹1,000 crore in debt, clear vendor dues, and restart operations after prolonged financial stress and operational disruptions.

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Source: Startup

Beyond Broking: How Zerodha Is Restacking Its Revenue Pyramid

Business • via Startup • Bismah Malik

Zerodha, India's largest discount broker, is diversifying into a full-stack financial services firm to counter declining trading revenues caused by SEBI's crackdown on derivatives. The company is expanding into merchant banking, secured lending, wealth management, and asset management. By leveraging its massive user base, Zerodha aims to create more predictable revenue streams through IPO advisory and lending, reducing its vulnerability to regulatory shifts and market volatility.

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Source: Startup

Zerodha’s Second Act, IndiaMART’s Q1 Snapshot & More

Business • via Startup • Team Inc42

Zerodha is diversifying its business by applying for a Category-I merchant banking licence to manage IPOs and M&As, leveraging its massive retail user base. Meanwhile, IndiaMART reported a 12% profit increase, and Ather raised ₹1,300 crore through a QIP. Other updates include 30 Sundays securing $6.7 million in funding, Zaggle acquiring a stake in Unobanc, LenDenClub reporting significant profit growth, and Cent expanding its AI-driven preventive healthcare centres. (70 words) -.

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Source: Startup

InMobi Ropes In Four Bankers To Helm Its $1 Bn IPO

Business • via Startup • Team Inc42

Adtech unicorn InMobi has appointed JPMorgan Chase, Jefferies, Kotak Mahindra Capital, and Axis Capital to manage its anticipated $1 billion IPO. The SoftBank-backed company, one of India's earliest unicorns, aims to list in the coming months as it shifts its domicile from Singapore to India. This move follows a recent stake buyback by cofounders and the acquisition of MobileAction, marking a significant maturation for the startup ecosystem.

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Source: Startup

Paytm Eyes New Horizons With Enterprise AI & Wallet Revival

Business • via Startup • Lokesh Choudhary

Paytm is diversifying its business model by commercializing internal AI solutions for enterprises and expanding into wealth management. Following a strong Q1 FY27 performance with a 78.8% profit increase, the company aims to boost EBITDA margins beyond 20%. Additionally, Paytm is seeking an RBI license to revive its digital wallet, intending to reduce reliance on transaction fees while building a high-margin, diversified financial ecosystem.

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