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Source: inc42

India’s Innovation Gap: Where R&D, Capital And Industry Fall Short

Business

India excels in IT services, generic pharma, and space engineering but struggles to create globally leading, research-intensive domestic firms. Structural barriers, including low R&D investment, a rote-learning education system, and poor industry-academia collaboration, hinder commercialization. Historical complacency and a price-sensitive consumer market further stifle innovation. To advance, India requires a systemic shift toward supporting long-term research and patient capital over short-term returns.

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Source: inc42

Deepinder Goyal’s Temple Acquires London-Based Longevous

Business

"Deepinder Goyal’s wearable startup, Temple, has acquired London-based longevity medicine practice Longevous for an undisclosed amount. The move integrates clinical and scientific expertise to validate health claims before the startup's first product launch. Longevous founders Robert Mohr and Avi Roy will join Temple full-time as chief medical officer and head of science, respectively. Longevous will continue its existing operations while supporting Temple's scientific rigour and data assessment.".

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Source: inc42

OpenAI Rolls Out ChatGPT Ads In India

Business

OpenAI has launched ChatGPT advertisements in India, targeting logged-in adults on Free and Go plans. Over 50 brands will participate, with a self-serve ads manager opening September 4 with daily budgets starting at ₹725. Paid subscribers will remain ad-free. OpenAI ensures ads will not influence AI responses or grant advertisers access to private user conversations, focusing instead on aggregate data to maintain user privacy and trust.

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Source: inc42

BPCL Pilots Grocery Delivery With LPG Cylinders, Plans Payment Gateway

Business

"Bharat Petroleum Corporation Ltd (BPCL) is piloting an ecommerce model in Maharashtra and Uttar Pradesh to deliver groceries, FMCG products, and consumer durables alongside LPG cylinders. By leveraging its network of petrol pumps, convenience stores, and LPG dealerships as fulfillment centers, BPCL aims to expand its non-fuel business. Additionally, the company is developing a payment gateway integrated with its HelloBPCL app to streamline transactions at its fuel stations.".

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Source: inc42

TILT Launches Binny Bansal-Backed ₹250 Cr Fund For Impact Startups

Business

TILT, an impact investment platform by The/Nudge Foundation, has launched a ₹250 crore venture fund targeting seed to Series A startups serving India’s “Next Billion.” The fund provides patient capital, investing between ₹2 crore and ₹16 crore in sectors like agriculture, climate resilience, and financial inclusion. Backed by prominent investors and the Livelihood Impact Fund, TILT aims to support over 150 startups to improve 100 million lives.

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Source: inc42

InstaAstro Bags $12 Mn To Build AI Tools, Expand Online Pooja Services

Business

InstaAstro, an AI-led astrology and spiritual wellness platform, has raised $12 million in a Series A round led by Singularity AMC and Artha Venture Fund. The company plans to utilize the capital to enhance AI capabilities, expand its pooja seva and spiritual commerce offerings, and grow its presence in regional and international markets. With 12 million users and over ₹200 crore in annualized revenue, InstaAstro is scaling rapidly.

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Source: inc42

Building Pharma Labs In Space, Zerodha’s Bland FY26 & More

Business

Usually, in these prompts, the first major section is the target, or a general summary of the whole newsletter is needed. However, the prompt says "Read the news article content.. and summarize it". The content is a newsletter. I should focus on the lead story or the overall themes. Given the structure, the space manufacturing piece is the "feature" article. Let's see if I can synthesize the main story or the whole thing. Usually, "the news article" refers to the main piece. Let's focus on the space manufacturing story as it's the most substantial "article" provided.).

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Source: inc42

InspeCity Raises ₹100 Cr To Fund Four Space Missions

Business

Thane-based spacetech startup InspeCity has raised ₹100 crore in a pre-Series A funding round co-led by Ashish Kacholia and Speciale Invest. The company plans to utilize the capital for four in-orbit missions over the next 18 months, focusing on satellite servicing and de-orbiting solutions. With ISRO-cleared propulsion systems, InspeCity aims to advance its robotic and sensing technologies toward commercial deployment amidst India's rapidly expanding space economy.

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Source: inc42

Micromax Floats Family Office, Earmarks ₹250 Cr To Back Deeptech Startups

Business

Micromax Informatics has launched a family office with a ₹250 crore corpus to invest in deeptech startups across India and global markets. Targeting Pre-Series A to Series B companies, the office will focus on AI, semiconductors, robotics, and defense tech. With average investments between ₹10 crore and ₹20 crore, Micromax aims to provide both capital and industrial support through its extensive manufacturing and technology ecosystem.

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Source: inc42

Lightspeed Exits PhysicsWallah Post ₹550 Cr Stake Sale

Business

"Lightspeed Venture Partners has completely exited its 1.61% stake in edtech major PhysicsWallah, selling 4.67 crore shares for ₹549.7 crore. The shares were sold at a weighted average price of ₹117.72, representing a 6.7% discount. ICICI Prudential Mutual Fund and Goldman Sachs emerged as the primary buyers. Despite ongoing net losses, PhysicsWallah recently turned EBITDA positive in Q1 FY27, with operating revenue crossing ₹1,000 crore.".

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Source: inc42

Hala Mobility’s FY26 Revenue Jumps 4.4X To ₹97 Cr, Posts ₹3.6 Cr Profit

Business

Electric mobility startup Hala Mobility saw its FY26 operating revenue jump 4.4X to ₹97 Cr, with profit after tax increasing ninefold to ₹3.6 Cr. The company expanded its fleet to 17,000 vehicles across nine cities, serving partners like Zomato and Amazon. Targeting ₹250-260 Cr in revenue and 32,000 vehicles for FY27, Hala is now seeking ₹135 Cr in Series A funding to further scale its operations.

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Source: inc42

D2C Kitchenware Startup Curaa Raises ₹40 Cr To Expand Portfolio

Business

Bengaluru-based D2C kitchenware startup Curaa has raised ₹40 Cr ($4.2 Mn) in a Series A funding round led by 3one4 Capital. Founded by Neeraj Kumawat and Sanjyot Keer, the company plans to use the capital to expand its product portfolio, scale its supply chain, and grow its quick-commerce presence. Curaa has seen its monthly net revenue grow 25X since September 2024, targeting a market projected to exceed $5.5 billion by 2033. (74 words) -.

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Source: inc42

LEAD FY26’s Loss Dips 20% YoY To ₹34.5 Cr, Operating Revenue Up 10%

Business

Edtech unicorn LEAD narrowed its FY26 net loss by 20% to ₹34.5 crore, while operating revenue grew 10% to ₹386.7 crore. Driven by cost optimization and better school retention, EBITDA surged 7.5X to ₹30.2 crore. Revenue primarily came from books, teaching aids, and platform services. The company, serving 9,000 schools, is now investing in AI solutions and targets break-even or profitability in FY27.

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Source: inc42

India’s Spacetech Ecosystem Looks To Microgravity For Drug Discovery And Manufacturing

Business

Indian spacetech startups, including Serendipity and AnduraX, are leveraging microgravity for pharmaceutical manufacturing and drug discovery. By creating uniform protein crystals impossible to replicate on Earth, these firms aim to advance medicine and materials science. Supported by ISRO and private accelerators, India is entering a global market currently led by companies like Merck and Varda, transitioning from space experimentation toward a commercial in-orbit manufacturing economy.

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Source: inc42

AI Agent Platform Runable Raises $21 Mn To Help Small Businesses Grow

Business

Runable, an AI agent platform for small businesses, has raised $21 million in a Series A round co-led by Susquehanna Venture Capital and Nexus Venture Partners. Founded by Umesh Kumar and Saksham Sarda, the startup aims to automate customer acquisition and marketing operations. Runable reportedly reached $2 million in ARR within three weeks of launch and currently serves 1.5 million users with a small team of 15.

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Source: inc42

Zerodha’s Bland FY26: Net Profit Up A Mere 1% At ₹4,238 Cr, Top Line At FY25 Level

Business

"Zerodha reported a slight 1.2% year-on-year increase in net profit for FY26, reaching ₹4,283 crore. While operating revenue remained steady compared to FY25, brokerage income fell 10.7% to ₹2,738 crore, and net transaction charges dropped to zero. The company attributed this stagnation to the end of the bull market and lost transaction rebates, though these losses were partially offset by growth in MTF earnings.".

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Source: inc42

boAt’s FY26 Profit Rises 38% To ₹85 Cr, Wearables Segment Turns Profitable

Business

Consumer electronics startup boAt reported a 38% increase in profit after tax to ₹84.5 crore for FY26, despite a 5% decline in operating revenue to ₹2,931 crore. The company attributed this growth to cost efficiency and improved product quality. Under its "boAt 2.0" strategy, the firm aims to expand internationally and enter new categories like personal grooming and projectors while managing a debt-free balance sheet.

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Source: inc42

Nitro Launches AI Platform To Let Shopify Merchants Build Apps With Prompts

Business

"Nitro Commerce has launched Nitro Apps, an AI-powered platform enabling Shopify merchants to build private, custom applications using prompts. By introducing 'vibe coding,' the tool reduces the time and cost associated with traditional software development for both internal workflows and customer experiences. Over 700 applications were created during the private beta, allowing merchants to maintain ownership of their code while bypassing the need for extensive development teams.".

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Source: inc42

The Vertical Turn In Enterprise AI

Business

Vertical foundational models are emerging in India as cost-effective alternatives to general-purpose AI for sectors like healthcare, payments, and agriculture. Companies like Razorpay and Fractal are developing domain-specific LLMs that offer better performance, lower token costs, and improved security. These models handle proprietary data and real-time decision-making more efficiently than versatile models like ChatGPT, providing specialized intelligence tailored to specific enterprise needs and operational processes.

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Source: inc42

[Update] Ringg AI Nets Additional $10 Mn, Closes Series A At $15.5 Mn

Business

Bengaluru-based Ringg AI has raised an additional $10 million, bringing its extended Series A funding to $15.5 million. Led by Peak XV Partners and Arkam Ventures, the capital will enhance its no-code, multilingual voice AI platform and expand international market presence. Ringg AI provides enterprises with human-like voice bots for sectors like BFSI and healthcare, aiming to scale to 100 million conversations over the next two years.

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