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Source: inc42

Meta’s Double Standards, Weekly Funding Rundown & More

Business

Meta agreed to pay $18 billion to settle US lawsuits over minor safety, introducing strict usage limits and feature changes for American teens. However, these protections do not extend to India, prompting experts to call for similar safety baselines globally. Meanwhile, Indian startups raised $210.3 million last week, Ather launched the Konarc scooter, and Ola Electric received ₹95.81 crore in government incentives under the PLI scheme.

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Source: inc42

Purple Style Labs Asks For A Luxury Premium

Business

Purple Style Labs, parent of Pernia’s Pop-Up Shop, will launch a ₹680 crore IPO on August 31, 2026, valuing the company at approximately ₹4,600 crore. Despite widening FY26 losses of ₹285.4 crore, the firm is pivoting toward a premiumisation strategy, focusing on high-value designers and customers. Proceeds will primarily fund lease liabilities and marketing as the omnichannel luxury platform seeks a sustainable financial model through scaled physical stores.

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Source: inc42

Zerodha’s Diversification Clock Is Ticking

Business

Zerodha’s core business is no longer growing. Regulatory curbs and changing investor behaviour are cooling trading activity and squeezing brokerage.

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Source: inc42

Ola Electric Secures Centre’s ₹95.81 Cr Incentive Under PLI-Auto Scheme

Business

Electric two-wheeler maker Ola Electric has secured a ₹95.81 Cr incentive under the government’s Production Linked Incentive (PLI) Scheme from.

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Source: inc42

New-Age Tech Stocks See Mixed Week; Ather Rallies 10%, Shiprocket Falls 9%

Business

New-age tech stocks experienced mixed results this week, with 36 declining and 26 gaining. Shiprocket was the biggest loser, falling 9.27%, while SME-listed Klassroom led gainers with a 25.2% surge. Ather Energy reached a 52-week high following additional investment from Hero MotoCorp. Despite broader market volatility and a slight dip in the Nifty 50, the combined market capitalization of covered tech companies remained stable at $166.91 billion.

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Source: inc42

Meta’s $18 Bn Settlement: Why Should Teen Safety Stop At The US Border?

Business

Meta will pay approximately $18 billion to settle US lawsuits alleging Facebook and Instagram harmed teenagers. The agreement introduces strict safeguards for US users under 18, including daily usage limits, night-time restrictions, and enhanced parental controls. However, these protections are limited to participating US jurisdictions. This has prompted calls from Indian experts and regulators for similar global standards to ensure children in India receive comparable product safety.

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Source: inc42

Ather Launches Konarc Escooter At ₹99,999, Offers Up To 200 Km Range

Business

Ather Energy has launched the Konarc electric scooter, starting at ₹99,999, to target India's mass-market segment. The scooter offers four range options between 100 km and 200 km and features a 14-inch front wheel for stability. It introduces an Advanced Electronic Braking System for increased control and includes a 450 W onboard charger. This launch coincides with rival Ola Electric introducing its new S1Z scooter range.

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Source: inc42

From Third Wave Coffee To MATTER — Indian Startups Raised Over $210 Mn This Week

Business

Indian startups raised $210.3 million across 23 deals between August 24 and 28, a 9.8% decline from the previous week. Ecommerce and advanced hardware and technology led the funding, totaling $108.4 million, with Third Wave Coffee securing $43 million. Capital 2B and Equanimity Investments were the most active investors. Additionally, three M&A deals occurred, and several new funds were launched, including a ₹250 crore family office by Micromax.

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Source: inc42

Raise Financial Hires Ex-Upstox Exec Abhishek Singh To Helm New Insurtech Bet

Business

Fintech unicorn Raise Financial Services has roped in former Upstox executive Abhishek Singh as the chief executive officer (CEO) of.

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Source: inc42

Alpha Wave Ventures Sells ₹1,857 Cr Stake In Lenskart Via Block Deals

Business

Early backers of Lenskart, including Alpha Wave Ventures, SoftBank, and Temasek, are selling stakes to book profits following a surge in share prices. Alpha Wave recently offloaded shares worth ₹1,856.8 Cr to buyers like the NPS Trust and ICICI Prudential. This trend follows Lenskart's strong Q1 FY27 results, where net profit jumped 273% to ₹228.4 Cr and operating revenue grew 43% to ₹2,714.2 Cr.

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Source: inc42

Gnani.ai Unveils Sovereign AI Stack Artha For Enterprises

Business

Gnani.ai has launched Artha, a sovereign AI stack designed for Indian enterprises and public institutions to maintain data control. The platform integrates Plexus, an agentic AI system, with Evon v3.3, a 30 billion-parameter multilingual model supporting 11 Indian languages. Developed under the IndiaAI Mission, Artha aims to reduce reliance on foreign AI by offering cost-effective, high-performance reasoning capabilities for regulated sectors like banking and insurance.

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Source: inc42

IPO-Bound Purple Style Labs Nets ₹306 Cr From Anchor Investors

Business

Purple Style Labs, the parent company of Pernia’s Pop Up Shop, has raised nearly ₹306 crore from ten anchor investors ahead of its IPO. The public issue, consisting of a fresh share issue worth up to ₹680 crore, opens on August 31. The company plans to use the proceeds for lease liabilities and marketing. Despite a widening net loss, its operating revenue grew 14% to ₹557.8 crore in FY26.

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Source: inc42

Hero MotoCorp Buys Additional 3% Stake In Ather For ₹1,758 Cr

Business

Over a month after Hero MotoCorp’s board approved an investment in Ather Energy, the auto giant has now bought 1.18.

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Source: inc42

Jio Platforms Gets SEBI Nod For IPO

Business

Jio Platforms, the digital and telecom arm of Reliance Industries, has received SEBI's approval for its proposed initial public offering. The IPO will consist of a fresh issue of up to 27 crore equity shares, with no offer for sale. Proceeds are intended to repay borrowings of Reliance Jio Infocomm and for general corporate purposes. This listing aims to unlock value for major shareholders, including RIL, Meta, and Google.

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Source: inc42

Meta India, Southeast Asia VP Sandhya Devanathan Steps Down

Business

"Sandhya Devanathan, Meta’s vice president for India and Southeast Asia, has stepped down after more than ten years with the company. Devanathan, who led Meta's operations in these key markets, plans to take a short break before pursuing new opportunities. Her departure occurs as Meta faces increased regulatory pressure in India regarding deepfakes and AI-generated content, and follows her role in the Meta-Reliance AI joint venture.".

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Source: inc42

Inside Groww’s Revenue Mix: What Comes After Broking

Business

Groww is diversifying its revenue streams to reduce reliance on stockbroking and equity derivatives, which dropped to 68.4% of its income in Q1 FY27. Despite growing its active client base to 1.31 crore, the company still trails competitor Zerodha in total revenue and profit. Groww is expanding into asset management and wealth management through acquisitions like Fisdom to drive future scalable growth and market competitiveness.

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Source: inc42

Uber, Eternal, Porter Exit Karnataka Gig Workers Welfare Board: Report

Business

Uber, Eternal, and Porter have withdrawn from Karnataka’s gig workers welfare board as they legally challenge the state’s Platform-Based Gig Workers Act. The companies argue the law imposes excessive compliance costs and overlaps with central social security frameworks. While the High Court provided interim protection from coercive action, the state continues enforcing the 1% transaction fee. Meanwhile, other platforms like Delhivery and Yulu are joining the board.

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Source: inc42

ESDS IPO Fully Subscribed Within Hours On Day 1

Business

ESDS Software Solution’s ₹720 crore IPO was subscribed 1.02 times on its first day, driven by retail and non-institutional investors. The company, which provides cloud and AI infrastructure, seeks a valuation of approximately ₹5,028 crore with a price band of ₹408-₹429. The issue closes on September 1, with listing expected on September 4. ESDS plans to use ₹576 crore to expand its data center infrastructure.

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Source: inc42

Ola Electric Launches S1Z Escooter With Bharat Cell LFP Battery

Business

EV maker Ola Electric has launched its new S1Z electric scooter range with its indigenously developed Bharat Cell lithium iron.

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Source: inc42

Fintech Startups To Watch: Startups That Caught Our Eye In August

Business

India's fintech sector in August focused on UPI sustainability, AI integration, and specialized services. While the government debated merchant discount rates for UPI, companies like Razorpay launched AI models for payment intelligence. Investors showed strong interest in wealthtech and SaaS, with significant funding for Centricity and Navi. Additionally, early-stage startups like CoverSure, Fold Money, Komplai, Tap Invest, and The Financialist are innovating in insurance, accounting, and investment management.

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