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Source: inc42

OpenAI Rolls Out GPT-6 Astra, Its ‘Most Capable Model’ Yet

Business

OpenAI has launched GPT-6 Astra, its most capable frontier model designed for agentic AI. The model can autonomously navigate websites, interact with software, and execute complex multi-step workflows, competing with Google and Anthropic. Featuring a 1.05 million-token context window, Astra excels in coding, mathematics, and cybersecurity. It will initially roll out to select organizations before becoming available to all ChatGPT Plus, Pro, Business, and Enterprise users.

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Source: inc42

Medulance Raises ₹24 Cr To Expand Emergency Response Network

Business

Healthtech startup Medulance has raised ₹24 crore in a Series A funding round led by Auxano, Alkemi, and Equentis. The company plans to use the capital to expand its GPS-based emergency response network and connected ambulance services across India. Operating over 15,000 ambulances in 500 cities, Medulance utilizes 5G technology for real-time patient data sharing, aiming to reduce response times within India's fragmented healthcare market.

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Source: inc42

WhatsApp Takes On PhonePe, Google Pay With Bill Payments In India

Business

WhatsApp has launched an in-app bill payment feature in India, allowing users to pay household and utility bills directly. Powered by Bharat Connect, the service covers 22,722 billers across 30 categories using UPI, debit, and credit cards. This expansion puts WhatsApp in direct competition with PhonePe, Google Pay, and Paytm. The feature is rolling out to Android and iOS users, aiming to simplify routine digital payments nationwide.

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Source: inc42

PhysicsWallah Shares Jump 6% As Motilal Oswal Sets ₹200 Target

Business

PhysicsWallah shares rose up to 6% after Motilal Oswal issued a ‘Buy’ rating with a ₹200 target price, citing strong online growth and AI-led monetization. The company reported Q1 FY27 revenue of ₹1,054 crore, a 24.4% year-on-year increase, while its net loss narrowed to ₹88.3 crore. With EBITDA turning positive at ₹52 crore, PhysicsWallah expects to achieve group-level PAT profitability by the third quarter of FY27.

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Source: inc42

RentoMojo Sets Price Band At ₹384-₹404 For ₹1,256 Cr IPO

Business

RentoMojo, a furniture and appliance rental startup, has announced an IPO with a price band of ₹384-₹404 per share. The issue is valued at ₹1,255.6 crore at the upper end, targeting a post-offer market capitalization of ₹4,206.3 crore. Opening September 9, the IPO includes a fresh issue and an offer for sale. FY26 financials show operating revenue of ₹387 crore and a profit of ₹104.3 crore.

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Source: inc42

ESDS Software Makes Stellar Debut, Lists At 76% Premium On NSE

Business

ESDS Software Solution made a strong stock market debut, listing at premiums of 74% on the BSE and 76.5% on the NSE over its ₹429 IPO price. The IPO was oversubscribed 135.88 times, raising ₹720 crore. The company plans to allocate ₹576 crore toward cloud computing equipment and data center infrastructure. ESDS reported a consolidated net profit of ₹120.8 crore in FY26, reflecting significant growth in revenue and profitability.

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Source: inc42

RentoMojo Files RHP, Uber India Axes 200 Jobs & More

Business

RentoMojo is preparing for an IPO from September 9-11, despite legal disputes. In other business news, Uber and PayPal are cutting staff in India, while Simple Energy launches mass-market electric scooters. Furlenco reported significant profit growth, but The Ayurveda Co has shut down. Meanwhile, slice faces a valuation drop in its new funding round, and Zerodha enters merchant banking. Red Balloon is innovating in stratospheric technology. (68 words) -.

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Source: inc42

Leanwatts Bags $2 Mn To Build Portable EV Chargers In India

Business

"Clean tech startup Leanwatts has raised $2 million in seed funding led by Trivest Partners to advance its EV power electronics business. The Hyderabad-based company will use the capital to accelerate R&D, enhance its supply chain, and expand manufacturing. Currently producing chargers for electric two-wheelers and tractors, Leanwatts aims to enter public charging and power modules, targeting an annualised revenue run-rate of ₹60 crore by March 2027.".

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Source: inc42

RentoMojo’s FY26 Profit Zooms 142% YoY To ₹104 Cr, Revenue Up 46%

Business

RentoMojo, an IPO-bound furniture and appliance rental platform, reported strong growth in FY26, with operating revenue rising 45.5% to ₹387 crore. Profit after tax surged 142% to ₹104.2 crore, supported by a one-time tax credit. The company has filed for an IPO featuring a ₹150 crore fresh issue and an offer for sale, potentially becoming India's first listed furniture rental startup.

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Source: inc42

Cars24 Trims FY26 Net Loss By 19% YoY To ₹441 Cr, Revenue Slides 18%

Business

Cars24 reported a narrowed net loss of ₹441.1 Cr in FY26, an 18.7% decrease, despite an 18.3% drop in operating revenue to ₹5,091.7 Cr. While product revenue declined, service revenue more than doubled. The IPO-bound startup reduced total expenses by 17.8% and is expanding into financing and AI-driven services. Despite these improvements, cash reserves halved and borrowings rose as the company prepares for a 2027 public listing.

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Source: inc42

Ultrahuman Bags $70 Mn To Build An Integrated Healthtech Platform

Business

Ultrahuman, a smart ring maker founded in 2019, has raised $70 million in a new funding round to expand its AI-powered wellness platform and scale R&D. Total funding now exceeds $173 million. The company aims to grow its Blood Vision and CGM platforms globally. Despite recent cybersecurity issues and a legal dispute with Oura, Ultrahuman reported a net profit of ₹71.5 crore for FY25.

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Source: inc42

RentoMojo Files RHP, Trims OFS To 2.7 Cr Shares

Business

"Furniture and appliance rental startup RentoMojo has filed its red herring prospectus with SEBI for an IPO. The company aims to raise ₹150 crore through a fresh issue of shares, while trimming its offer for sale to 2.7 crore shares. Investors like Accel and Chiratae Ventures will participate. The IPO opens for subscription from September 9 to 11, with funds targeting warehouse expansion and debt repayment.".

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Source: inc42

PayPal’s Global Mass Layoffs Impact 220 Indian Employees

Business

"PayPal has laid off approximately 220 employees in India, representing about 4% of its local workforce. These cuts, affecting roles in tech, engineering, and finance across Chennai, Bengaluru, and Hyderabad, are part of a global restructuring plan to simplify operations and reduce costs. The company aims to trim its global workforce by 20% over several years to save $1.5 billion and prioritize long-term growth investments.".

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Source: inc42

India’s Stratosphere Is Up For Grabs, Can Red Balloon Make The Uncharted Skies Commercially Viable?

Business

Red Balloon Aerospace, founded by former Skyroot executives, is developing near-space platforms to utilize the stratosphere for communications, earth observation, and disaster management. By deploying superpressure balloons, aerostats, and solar-powered airships, the Indian startup aims to bridge the gap between aviation and orbital space. Their innovative nanocomposite materials enable long-duration flights, offering a cost-effective alternative to satellites and ground networks for diverse global applications.

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Source: inc42

Swiggy Narrows CREW’s Focus To Travel After Year-Long Concierge Pilot

Business

Swiggy has pivoted its CREW platform from a general lifestyle concierge to a dedicated personal travel concierge. Available exclusively to paid subscribers via invitation, the service combines AI and human expertise to provide 24/7 global assistance for flights, stays, and visa processing. This strategic shift targets affluent consumers, aiming to bridge the gap between booking and experience as part of Swiggy's broader experimentation to enhance user stickiness.

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Source: inc42

Alipay+’s UPI Linkup Stalled Over Security, Data Concerns: Report

Business

India has stalled the proposed linkage between Alipay+ and UPI due to national security, data-security, and money-laundering concerns. The integration would have allowed Indian travelers to use UPI at over 150 million Alipay+ merchants abroad and enabled international visitors to pay in India. Despite UPI's global expansion into markets like Singapore and France, the Indian government remains cautious of the platform's Chinese origins and potential data misuse.

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Source: inc42

As Enterprise AI Starts Charging For Work, Owning The Outcomes Becomes The Contest

Business

Enterprise AI is shifting from token-based pricing to outcome-based models, where buyers pay for successful tasks rather than usage. This transition makes AI agents the primary interface, potentially granting vendors greater pricing power and a share of created value. To maintain control and reduce costs, enterprises are adopting open-weight models on private infrastructure. This creates a significant opportunity for Indian firms to lead in domain-specific AI implementation.

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Source: inc42

slice Eyes $100 Mn Funding At 60% Valuation Cut As Bank Valuation Takes Shape

Business

Fintech unicorn slice is raising approximately $100 million in funding at a valuation of $450 million to $465 million, a sharp decline from its previous $1.25 billion valuation. The round, backed by Neo Group, Kado Global, and Moore Strategic Ventures, follows slice's merger with North East Small Finance Bank. Despite the valuation dip, the company reported a net profit of ₹50.9 crore in Q1 FY27, showing strong growth.

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Source: inc42

Zerodha Gets SEBI Nod For Merchant Banking, To Focus On New-Age IPOs

Business

Zerodha has obtained SEBI approval to operate as a merchant banker through its subsidiary, Zerodha Corporate Advisors. The firm plans to manage IPOs and provide equity fundraising advice, specifically for new-age companies. This diversification follows a decline in brokerage revenue and rising competition from Groww. Despite these challenges, Zerodha's net profit grew slightly in FY26, and the company continues expanding its product portfolio and NRI services.

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Source: inc42

Everstone Capital-Backed Wingify Ropes In Ex-Dayforce Mehernaz Dalal As CFO

Business

SaaS company Wingify has appointed Mehernaz Dalal, former Dayforce APAC CFO, as its new Chief Financial Officer. With 26 years of experience, Dalal will collaborate with CEO Sparsh Gupta and Everstone Capital to drive the company's next growth phase. This appointment follows Wingify's merger with AB Tasty, creating a digital experience platform valued at over $500 million with annual revenues exceeding $100 million and 4,000 global customers.

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