Freshworks Turns Profitable In Q2, Revenue Up 16% YoY To $237.4 Mn

Source: inc42

Freshworks Turns Profitable In Q2, Revenue Up 16% YoY To $237.4 Mn

Business

Nasdaq-listed SaaS major Freshworks reported a net profit of $3.2 Mn in the second quarter ended June 30 (Q2 CY26).

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Mumbai ranks 15th, Hyderabad 27th globally in operational data centre capacity: Knight Frank

Startups

Knight Frank's Global Data Centre Atlas 2026 report ranks Mumbai 15th globally in operational data centre capacity and 11th in development pipeline. Hyderabad ranks 27th in operational capacity and 19th in pipeline. While India is becoming a strategic digital infrastructure destination, Knight Frank India CMD Shishir Baijal emphasizes that improving power provisioning and renewable energy is essential for India to enter the world's top ten data centre markets.

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How FLiCKA built trust to become India’s fastest growing beauty brand

Startups

Co-founded by Mohit Pardasani and Priyanka Nawani in 2018, FLiCKA Cosmetics bridges the gap between quality and affordability in the Indian beauty market. With a retail-first strategy, the brand has expanded to over 2,200 touchpoints and 350 exclusive counters, achieving FY26 revenues of Rs 100 crore. Offering 400+ specialized products, FLiCKA now leverages its strong physical presence to scale across online platforms and Tier II and III cities.

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IITM-incubated deeptech startup Solinas Integrity raises $5.5M

Startups

Founded by Divanshu Kumar and Moinak Banerjee, Chennai-based Solinas builds robotics and AI systems that inspect, clean, and digitise underground water and wastewater infrastructure, solving problems of water leakages, contamination, and manual scavenging.

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Swiggy Bets On Toing, Instamart To Achieve ₹10,000 Cr Adjusted EBITDA By FY31

Business

Swiggy aims for a consolidated adjusted EBITDA of ₹10,000 crore by FY31, driven by its quick commerce arm, Instamart, and affordable meal platform, Toing. The company projects a total gross order value of ₹2.5 lakh crore by FY31. Swiggy expects its food delivery EBITDA to reach ₹5,000 crore, while Instamart targets a GOV of ₹1.5 lakh crore, leveraging operational efficiencies and expanding its user base through affordability.

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Consint.AI Bags ₹22 Cr To Expand Globally, Build AI Model For Risk And Fraud Detection

Business

AI startup Consint.AI, which offers an AI-powered healthcare fraud and management platform to enterprises, has raised ₹22 Cr (about $2.3.

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Piper Serica raises Rs 300 Cr as first close of Bharat Tech Fund

Startups

Mumbai-based investment house Piper Serica has raised Rs 300 crore in the first close of its Rs 800 crore Bharat Tech Fund. This Category 2 AIF targets Indian deeptech startups in sectors like semiconductors, defence, and robotics, investing Rs 25-50 crore per company. Backed by institutional investors and family offices, the fund aims to support globally competitive technologies and expects to reach its final close ahead of schedule.

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RateGain Q1 Profit More Than Doubles YoY To ₹95 Cr, Revenue Skyrockets 188%

Business

"Travel-focused SaaS company Rategain reported a strong financial performance for Q1 FY27, with consolidated profit jumping 102% year-on-year and 36% quarter-on-quarter to ₹94.9 crore. Operating revenue surged 188% year-on-year to ₹785 crore, while total income reached ₹788.1 crore. Despite these gains, total expenses also rose significantly, increasing 188% year-on-year to ₹667.5 crore during the June quarter, reflecting the company's rapid growth and operational scaling.".

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Ola Electric opens sales, service network to dealer partners across India

Startups

Ola Electric is shifting its go-to-market strategy by opening its sales and service network to dealer partners across India. After building a strong foundation through company-owned stores, the firm aims to leverage local dealer expertise to scale operations and accelerate EV adoption. Company stores will now focus on brand experience, while dealers handle local distribution. BVR Subbu rejoins as Senior Advisor to support this transition by Diwali 2026.

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Shiprocket cuts IPO size, lowers valuation expectations as it readies for Rs 1,618-Cr public issue

Startups

Temasek-backed ecommerce platform Shiprocket has reduced its IPO size by nearly 31% to Rs 1,617.6 crore. The public issue, opening August 12 and closing August 14, features a price band of Rs 92-97 per share, targeting a valuation of approximately Rs 7,057 crore. The company will raise Rs 885 crore through fresh equity to expand technology, fund marketing, and repay debt, alongside a Rs 732 crore offer for sale.

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Ola Electric Shifts To Dealer-Led Sales Model To Expand Reach

Business

Ola Electric is transitioning from a direct-to-consumer model to a dealer-led sales and service network across India to expand its reach and improve after-sales support by Diwali 2026. While company stores will focus on brand experience, partners will drive local sales. Additionally, the company is entering the battery energy storage market via Ola Mahashakti, partnering with Axis Energy for a 20 GWh deployment by 2032.

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TV Somanathan gets a year's extension as India's top bureaucrat

Startups

The Government of India has granted a one-year extension to Cabinet Secretary Dr. T.V. Somanathan, extending his tenure beyond August 30, 2026, until August 2027. Chaired by Prime Minister Narendra Modi, the Appointments Committee of the Cabinet approved the move to ensure administrative stability and continuity. Somanathan, a highly qualified 1987-batch IAS officer, previously served as Finance Secretary and played key roles in the GST rollout.

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Piper Serica’s ₹800 Cr Bharat Tech Fund Hits First Close At ₹300 Cr

Business

Piper Serica's ₹800 Cr Bharat Tech Fund achieved its first close at ₹300 Cr, reflecting growing investor interest in India's deeptech ecosystem. The fund will back Series A and B deeptech startups in sectors like semiconductors, AI, and spacetech, with investments between ₹20 Cr and ₹50 Cr per company. Nearly 50% of commitments came from existing investors.

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From cloud migration to citizen services: AppSquadz and India’s evolving digital transformation journey

Startups

In the last 5 years, AppSquadz has expanded its cloud capabilities to support some significant digital transformation initiatives across government, healthcare, and enterprise sectors in India.

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Netflix Launches India Creator Initiative As Ted Sarandos Bets Big On Local Content, AI

Business

Netflix has launched the Netflix India Storytelling Initiative, partnering with IICT and NFDC to train creators in animation, visual effects, gaming, and comics. Co-CEO Ted Sarandos emphasized India's central role in Netflix's global growth strategy, noting the market's diversity and potential. While the company is integrating AI into production workflows to lower costs, Sarandos ruled out bidding for major sports rights like the IPL.

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Andhra, Chhattisgarh, Bihar are outsmarting richer states on investments (without outspending)

Startups

India's industrial landscape is shifting as states like Andhra Pradesh and Chhattisgarh attract massive investments despite lower readiness scores. While traditional leaders like Gujarat rely on inherited infrastructure, challengers are prioritizing regulatory ease and statutory certainty to attract modern, automated factories. By legislating faster approvals and ensuring power reliability, these states are reducing execution risks, proving that governance and predictability now outweigh cheap labor in industrial competition.

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Quick commerce startup Homerun raises $12M in Series A+

Startups

The round is led by Nexus Venture Partners with participation from existing investors Sorin Investments, Titan Capital, Sparrow Capital and Consumer Collective by Atrium.

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6 Books that teach lessons from fictional characters

Startups

Discover 6 books where fictional characters teach powerful lessons about life, emotions, relationships, resilience, and personal growth.

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[Update] Exclusive: HomeRun Raises $12 Mn To Scale Construction Materials Quick Commerce Platform

Business

Update | August 6, 2026, 10:15 IST Quick commerce startup for construction and interior materials HomeRun has raised $12 Mn.

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Meta apologises for temporarily removing PM Modi's Facebook post

Startups

Meta executives met with Indian Union Minister Ashwini Vaishnaw to apologize for the temporary removal of Prime Minister Narendra Modi's Facebook post. During the meetings, Meta admitted to failures regarding deepfakes, child sexual abuse material, and paid promotion of illegal content. The Indian government warned that Meta's safe harbour immunity under the Information Technology Act could be revoked due to its active content curation and algorithmic bias.

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Shiprocket IPO To Open On August 12, Issue Size Cut To ₹1,617 Cr

Business

Logistics major Shiprocket has filed the RHP to raise ₹1,617 Cr (about $170 Mn) via its IPO, a 30% reduction.

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