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Source: Startup

Paytm Mints ₹220 Cr Profit In Q1, Revenue Up 28% To ₹2,448 Cr

Business • via Startup • Team Inc42

Paytm reported a strong financial performance for Q1 FY27, with consolidated net profit surging 78.8% year-on-year to ₹220 crore. The fintech major's operating revenue grew 27.6% to ₹2,448 crore, while total income reached ₹2,630 crore. Despite these gains, total expenses increased by 18.2% to ₹2,383 crore. Sequentially, profit rose 20.2% from the previous quarter, reflecting steady growth in the company's overall financial trajectory.

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Source: Startup

Wealthtech Startup Veriqus Raises ₹387 Cr To Build AI-Led Investment Platform

Business • via Startup • Shrishti Bisht

Wealthtech startup Veriqus Group has raised ₹387 crore in a funding round led by Norwest to develop an AI-powered wealth and asset management platform. Founded by Ashish Gumashta and Roshi Jain, the firm will provide advisory, lending, and investment services to high-net-worth individuals and institutions. Veriqus plans to utilize an open-architecture model and expand its presence into India's fast-growing Tier-II cities to serve affluent investors.

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Source: Startup

BlueStone Q1: Profit At ₹6 Cr, Revenue Jumps 50% YoY To ₹737 Cr

Business • via Startup • Akshit Pushkarna

Omnichannel jewellery major BlueStone reported a profit after tax of ₹6 crore in Q1 FY27, recovering from a ₹34.8 crore loss in the same period last year. However, PAT fell 81% sequentially from ₹31.2 crore in Q4 FY26. Operating revenue grew 50% year-on-year to ₹736.9 crore, while total income reached ₹751.8 crore. Total expenses for the quarter increased by 38% year-on-year, totaling ₹744.8 crore.

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Source: Startup

Scapia Announces ₹20 Cr ESOP Buyback

Business • via Startup • Anne Florentyna

Travel-focused fintech startup Scapia has launched a ₹20 crore ESOP buyback program, allowing eligible employees to liquidate up to 10% of their stock options. This move follows a recent $63 million funding round, bringing the company's total raised to over $135 million. Scapia, which offers travel-centric co-branded credit cards, aims to reward its team and improve retention, mirroring a growing trend of liquidity events among Indian startups.

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Source: Startup

Norwest Capital Co-Leads $40 Mn Round In Raghu Vamsi Aerospace

Business • via Startup • Shrishti Bisht

"Hyderabad-based Raghu Vamsi Aerospace Group (RVAG) has raised $40 million in a funding round led by Norwest and Skegen Asset Management. The company plans to use the capital to expand manufacturing capacity across India, the UK, and the US, while enhancing its deeptech and mission systems businesses. With an order book exceeding ₹2,500 crore, RVAG supplies precision components to global aerospace and energy leaders.".

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Source: Startup

Exclusive: Redcliffe Labs To Acquire Megavision Diagnostics In ₹40 Cr Deal

Business • via Startup • Palak Sharma

Redcliffe Labs is acquiring Pune-based Megavision Diagnostics Centre for approximately ₹40 crore to expand its radiology and imaging capabilities. This move is part of a broader inorganic growth strategy to transition from pathology to an integrated diagnostics platform. Following recent acquisitions in Rajasthan, the healthtech startup aims to leverage these facilities to drive growth, targeting a total revenue of ₹700 crore by the 2027 financial year.

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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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