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Source: Startup

Turtlemint Surges 13.5% After Reporting Maiden Profitable Quarter

Business • via Startup • Shrishti Bisht

Turtlemint shares surged over 13% to a record high after the company reported its first-ever quarterly profit of ₹3.1 crore in Q4 FY26. While the result was supported by a deferred tax credit, the company achieved a positive adjusted EBITDA of ₹2.9 crore. Operating revenue grew 42% year-on-year to ₹357.2 crore. Management expects the firm to achieve full-year profitability by FY27 through operating leverage and renewals.

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Source: Startup

Cosmoserve Says Soft Robotic Capture Demo Gathered Key Data Despite Glitch

Business • via Startup • Anjali Jain

"Cosmoserve's maiden Mission Embrace aboard Skyroot's Vikram-1 reported partial success in testing its soft robotic capture system for active debris removal. While major systems functioned and withstood launch conditions, the robotic petals failed to deploy due to extreme space conditions. Despite this, the startup gathered critical in-orbit data cost-effectively, which will be used to refine the technology's architecture for future debris-removal spacecraft missions.".

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Source: Startup

Plazza Bags $15 Mn To Expand Quick Medicine Delivery Business

Business • via Startup • Shrishti Bisht

Bengaluru-based quick medicine delivery startup Plazza has raised $15 million in a Series A round led by Accel, Elevation Capital, and Nexus Venture Partners. Founded by former Zomato executive Aman Priyadarshi, the company utilizes AI-powered inventory systems to offer rapid 15-to-30-minute deliveries. Plazza plans to use the funding to enhance its technology and expand its pharmacy network beyond its current two stores in Bengaluru.

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Source: Startup

NVIDIA Wants To Solve India’s GPU Compute Problem, But At What Cost?

Business • via Startup • Shraddha Goled

NVIDIA has launched a global revenue-sharing financing model to help AI cloud providers, including those in India, overcome capital constraints when procuring GPU infrastructure. By combining credit support with revenue sharing, NVIDIA enables smaller "neoclouds" to expand their compute capacity. While this reduces financial risk for providers, critics warn it increases NVIDIA's control over the AI ecosystem and may create unfair priority access to chips.

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Source: Startup

Skyroot Scripts History, Weekly Funding Rundown & More

Business • via Startup • Team Inc42

(Other sections like Fino Payments Bank, Snapdeal, Turtlemint, Meesho, ZeroDrag are secondary/separate news snippets in a newsletter format. The prompt asks to summarize "the news article content", but the primary lead story is Skyroot. Usually, in these types of prompts, the main story is the focus, but I should check if I need to summarize the whole newsletter. However, the Skyroot story is the most substantial. Let's see if I can integrate the others or focus on the lead. Given the "news article" phrasing, it's likely the lead story, but the provided text is a newsletter. I will focus on the primary achievement of Skyroot as the central theme, as it's the "historic" event.).

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Source: Startup

Why Groww Wants To Be Everything At Once

Business • via Startup • Gargi Sarkar

India's largest stockbroker, Groww, is diversifying beyond brokerage to become a full-stack financial services company. To counter slowing customer growth and regulatory shifts, Groww is expanding into wealth management, asset management, lending, and US stocks. The company is leveraging AI to scale these verticals efficiently. In Q1 FY27, Groww reported a 94.3% jump in net profit to ₹735 crore, signaling strong financial momentum during this transition.

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Source: Startup

BigBasket’s Retreat

Business • via Startup • Gargi Sarkar

Tata-backed BigBasket is shifting its strategy to prioritize sustainable profitability over rapid expansion. Facing intense competition from quick commerce rivals like Blinkit and Zepto, the company is reportedly reducing its operational footprint to focus on high-density urban markets. Under new CEO Amit Nanda, BigBasket aims to improve operational efficiency and leverage private labels to offset significant losses and compete in a crowded delivery market.

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Source: Startup

Meet The 50 D2C Brands From D2CX By Inc42’s 8th Cohort

Business • via Startup • Vandana Batra

Inc42 has launched the eighth cohort of its D2CX accelerator, welcoming 50 early-stage direct-to-consumer brands across various categories. The 12-week program offers mentorship and tactical playbooks to help founders navigate the "D2C 3.0" era. With India's D2C market projected to reach $310 billion by 2031, D2CX aims to bridge operational gaps and improve unit economics for over 400 founders since its inception.

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Source: Startup

New-Age Tech Stocks: Fino Payments Bank Surges 29%, Go Digit Leads Weekly Losers

Business • via Startup • Akshit Pushkarna

Most of the 58 new-age tech companies tracked by Inc42 saw declines this week, with 39 stocks ending in the red and cumulative market capitalization dropping to $142.41 billion. While Go Digit was the worst performer, Fino Payments Bank surged 29.16%. Despite overall caution, several companies hit 52-week highs. Other key updates include PhysicsWallah's stake increase in Sarrthi IAS and Zepto's anticipated IPO at a lower valuation.

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Source: Startup

Indian Listed New-Age Tech Company Tracker: Market Cap, Revenue & More

Business • via Startup • Akshit Pushkarna

Over 60 Indian new-age tech companies have gone public, reaching a cumulative market capitalization exceeding $161 billion. Fintech, enterprise tech, and ecommerce lead the listings, with 64% of these companies now reporting profitability. Geographically, Delhi NCR is the primary hub, hosting 25 listed firms and contributing $89.5 billion to the total market cap. This trend reflects a broader shift toward financial sustainability within India's startup ecosystem.

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Source: Startup

Supreme Court Seeks Snapdeal’s Reply In Prescription Drug Sale Case

Business • via Startup • Shrishti Bisht

The Supreme Court has sought a response from Snapdeal regarding Karnataka's challenge to a High Court ruling that quashed criminal proceedings over the unlicensed sale of a prescription drug. The case centers on whether e-commerce platforms can claim safe harbour protection under the IT Act when third-party sellers violate public health laws. This decision could redefine the liability of online marketplaces for illegal products sold by third parties.

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Source: Startup

History Beckons: Skyroot Lifts Off With India’s First Private Orbital Mission

Business • via Startup • Debarghya Sil

Skyroot, India's first spacetech unicorn, successfully launched Vikram-1, the country's first private orbital rocket mission, as part of Mission Aagaman. Blasting off from Sriharikota, the four-stage vehicle aims to place payloads into Low Earth Orbit while validating critical flight systems. This milestone follows India's space sector reforms and positions the nation as a global commercial launch destination, with Skyroot planning further upgrades and launches.

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Source: Startup

From Emergent To Neo Group — Indian Startups Raised $281 Mn This Week

Business • via Startup • Lokesh Choudhary

Indian startups saw a sharp funding rebound between July 11 and 17, raising $281.4 million across 24 deals. AI startups dominated the week, securing $172.4 million, nearly 60% of the total. Notable activities included Elevation Capital launching a $500 million fund and Aurum PropTech acquiring Locon Solutions for ₹458 crore. Additionally, Ather Energy approved a ₹1,200 crore fundraise, while InsuranceDekho prepares for a potential IPO.

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Source: Startup

Reliance Retail’s EBITDA Erodes In Q1 Amid Q-Comm Expansion

Business • via Startup • Team Inc42

Reliance Retail Ventures Ltd. reported a 14.2% decline in Q1 FY27 net profit to ₹2,806 crore, despite an 8.2% revenue increase to ₹79,745 crore. The company's EBITDA margin dropped to 7.9% due to heavy infrastructure investments in its hyperlocal commerce expansion. While these costs pressure near-term margins, RRVL expects significant long-term scale and value creation from its growing quick commerce and digital delivery services.

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Source: Startup

MakeMyTrip Files Confidentially For India IPO

Business • via Startup • Gaurav Bagur

MakeMyTrip has confidentially filed for an India IPO of its subsidiary, MakeMyTrip (India) Limited, via an offer for sale by its US parent and Singapore-based subsidiary. The company aims to raise over $1 billion to strengthen its balance sheet, fund strategic acquisitions, and enhance brand visibility. This move would make it the second Indian travel tech firm listed in both the US and India, following Yatra.

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Source: Startup

IPO-Bound Jio Platforms’ Q1 Profit Jumps 9% YoY To ₹7,764 Cr

Business • via Startup • Lokesh Choudhary

Jio Platforms reported a consolidated profit after tax of ₹7,764 crore for Q1 FY27, marking a 9.2% year-on-year increase despite a slight sequential dip. Operating revenue rose 11.8% YoY to ₹39,173 crore, while EBITDA grew 15.1% to ₹20,865 crore. Growth was driven by digital services, rising ARPU to ₹215.6, and a subscriber base of 533 million, although higher finance costs from 5G assets partially offset gains.

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Source: Startup

Profitability, Geopolitical Concerns Weigh On Zepto’s IPO Valuation

Business • via Startup • Shrishti Bisht

Zepto is preparing for an IPO with a projected post-money valuation of approximately $5.1 billion, down from its $7 billion peak. Despite concerns regarding cash burn and profitability, the offering has attracted strong institutional interest, with Norges and Motilal Oswal expected to hold 40-45% of the anchor book. The company plans to use IPO proceeds to expand its dark store network and enhance technology infrastructure.

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Source: Startup

Turtlemint Turns Profitable In Q4, Posts PAT Of ₹3 Cr

Business • via Startup • Akshit Pushkarna

Insurtech company Turtlemint achieved profitability in the March quarter of FY26, reporting a consolidated net profit of ₹3.1 crore compared to a ₹39.4 crore loss in the same period last year. Operating revenue for the quarter rose 42% year-on-year to ₹357.2 crore. For the full fiscal year FY26, the company narrowed its net loss to ₹184.3 crore, while annual operating revenue grew 66% to ₹1,098.2 crore.

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Source: Startup

Decoding Meesho’s Zero-Commission Model & Seller-Centric Revenue Engine

Business • via Startup • Palak Sharma

Meesho is an affordable e-commerce marketplace targeting semi-urban India, reporting ₹12,626 crore in FY26 revenue. Unlike competitors, Meesho employs a zero-commission model, instead generating income through logistics via its Valmo platform, seller advertising, and content services. After its December 2025 IPO, the company is focusing on reducing losses and diversifying into AI and financial services to achieve long-term sustainable profitability amidst high acquisition costs.

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Source: Startup

Why RBI’s Data Governance Push Puts Fintech Partners In A Spot

Business • via Startup • Lokesh Choudhary

The Reserve Bank of India has proposed a data governance framework making regulated lenders accountable for data handled by fintech partners. The draft requires banks and NBFCs to establish a "Single Source of Truth," ensure end-to-end traceability, and implement board-approved governance structures. While primarily targeting lenders, the framework will likely force fintechs to increase compliance spending and upgrade data architecture to meet stricter partner demands.

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