ixigo Q1 Profit Surges 81% YoY To ₹34.2 Cr, Revenue Up 13%

Source: inc42

ixigo Q1 Profit Surges 81% YoY To ₹34.2 Cr, Revenue Up 13%

Business

Traveltech company ixigo reported a consolidated net profit of ₹34.2 crore for the June quarter (Q1 FY27), marking an 81% increase year-on-year and a 7% rise sequentially. Operating revenue grew 13% year-on-year and 16% quarter-on-quarter to reach ₹356.8 crore. Total income for the period stood at ₹385.9 crore, while total expenses rose 15% year-on-year to ₹337.8 crore, including a ₹4 crore loss from an associate.

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Tesla and SpaceX will invest $16.8B to start building ‘Terafab’ chip factory in Texas

Startups

Tesla and SpaceX are jointly developing "Terafab," a massive semiconductor factory in Grimes County, Texas. With an initial $16.8 billion investment, the facility will span over 100 million square feet, aiming to be the world's largest building. Terafab will produce advanced chips for Tesla's robots and Cybercabs, as well as SpaceX's data centers. The project expects to employ 3,000 people and includes contributions from Intel.

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OpenAI says Apple’s own security practices undermine its trade secrets case

Startups

"OpenAI has filed a motion to dismiss Apple's trade secrets lawsuit, arguing that Apple's poor security and offboarding practices disqualify the alleged stolen information as protected trade secrets. While Apple accuses OpenAI of orchestrating a scheme to obtain confidential hardware data, OpenAI claims the lawsuit is a pretextual attempt to stifle competition and mask Apple's inability to retain top talent and innovate in AI hardware.".

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Karnataka eyes Anthropic tie-up to expand AI across public service

Startups

Karnataka is exploring a partnership with AI company Anthropic to integrate artificial intelligence into public administration, education, and scientific research. Chief Minister D.K. Shivakumar discussed leveraging AI for fraud detection, cybersecurity, and secure exam preparation. The collaboration aims to enhance the state's innovation ecosystem through an AI University, skilling programs, and startup support, while prioritizing data privacy and responsible deployment to ensure inclusive public services.

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Fisdom Cofounders Set To Exit Groww A Year After $150 Mn Acquisition

Business

Fisdom cofounders Subramanya SV and Anand Dalmia are exiting Groww after a planned one-year transition following the fintech company's $150 million acquisition of Fisdom. Groww aims to scale its wealth management business, 'W', using internal leadership and promoted Fisdom executives. Financially, Groww reported a 94.3% year-on-year profit increase to ₹735 crore and operating revenue of ₹1,501.4 crore, with mutual fund assets under management reaching ₹1.9 lakh crore.

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Wakefit Q1 Profit Increases 19% YoY To ₹23.4 Cr, Revenue Crosses ₹400 Cr

Business

Wakefit reported a 19% year-on-year increase in net profit to ₹23.4 crore for the June quarter, although profit dropped 81% sequentially from ₹121.7 crore. Operating revenue grew 17% year-on-year and 18% quarter-on-quarter to reach ₹404.9 crore. Total income was ₹420.5 crore, while total expenses rose 14% year-on-year to ₹384.2 crore. Tax expenses were ₹12.9 crore, contrasting with a previous quarter's deferred tax credit.

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eBay continues to bet on live shopping after record quarter

Startups

"eBay is expanding its live shopping feature, eBay Live, to compete with rivals like Whatnot and TikTok Shop. The company reported an eightfold year-over-year increase in gross merchandise volume across seven markets, with regular streamers selling three times more than others. Now offering self-service onboarding for sellers in over 300 categories, eBay plans further international expansion and product improvements to enhance discovery and bidding responsiveness.".

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Reliance Brands Brings Kim Kardashian’s SKIMS to India

Business

Reliance Brands Ltd has partnered with Kim Kardashian’s SKIMS to introduce the shapewear and lifestyle brand to the Indian market. The rollout will begin with stores in Delhi and Mumbai before expanding nationwide via offline and digital channels. This strategic move targets India's growing premium consumer segment, intensifying competition for domestic brands while leveraging Reliance's extensive retail network to accelerate the premiumisation of the local shapewear industry.

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AAP Chief Alleges Meta Restricted His Account; Sources Say Action Limited To A Post

Business

Aam Aadmi Party (AAP) chief and former Delhi chief minister Arvind Kejriwal has alleged that Meta restricted his Instagram account.

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Exclusive: Practo In Talks To Acquire Healthtech SaaS Startup HealthPlix

Business

Practo is in talks to acquire healthtech SaaS startup HealthPlix for an estimated $25 million to $30 million. This potential distress sale aims to bolster Practo's enterprise healthcare software business by integrating HealthPlix's EMR and clinical workflow solutions. The move comes as Practo prepares for a pre-IPO funding round of approximately $120 million, targeting a post-money valuation of around $700 million to expand its global healthcare operations.

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Amid legal battles, Suno says it will start watermarking songs

Startups

"Suno, an AI music generator, has introduced audio watermarking, fingerprinting, and updated community guidelines to combat copycat songs and misuse on streaming platforms. Partnering with Musixmatch for copyright detection, the company aims to promote original creation. These changes arrive as Suno faces multiple lawsuits from major music labels and a class action suit following a massive data breach that exposed its model training sources.".

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10 Quotes from Mountains to Cross by Abraham M. George

Startups

Abraham M. George's "Mountains to Cross" chronicles his journey from business success to fighting poverty and inequality in India. The book argues that true fulfillment stems from using personal achievements to create opportunities for others through dedicated service. George's experiences in education and healthcare demonstrate how compassion and persistence can drive lasting social change, challenging readers to redefine success as a meaningful contribution to a greater purpose.

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Ford’s new electric truck, ‘Fathom’, starts at $28,350

Startups

Ford will launch the Fathom, an all-electric truck starting at $28,350, in fall 2027. Built in Louisville, Kentucky, on the new Universal EV Platform to reduce costs, the vehicle aims to compete with Tesla and Chinese manufacturers. Key features include bidirectional power, BlueCruise capability, and support for Android Auto and Apple CarPlay. This budget-friendly model represents Ford's strategic shift toward more affordable, ground-up electric vehicle designs.

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Exclusive: Mirendil inks $100M+ Google Cloud deal to scale self-improving AI

Startups

"AI lab Mirendil has entered a multi-year partnership with Google Cloud worth over $100 million to secure compute capacity for its self-improving AI research. The deal provides access to Google’s TPUs and Nvidia GPUs, enabling Mirendil to develop recursive AI systems designed to automate scientific research in fields like medicine. This strategic collaboration allows Mirendil to scale its infrastructure while providing Google with a frontier AI partner.".

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Ex-Spotify employees raise $10M to bring the AI behind its recommendations to e-commerce

Startups

"Former Spotify engineers Sidd Motwani, Ian Anderson, and Shivaditya Sinha have launched Malachyte, an e-commerce personalization startup that recently raised $10 million in seed funding. The company utilizes "two-headed Vector AI" to predict shopper intent in real time based on current session behavior rather than historical data. Malachyte is currently available to Shopify merchants and larger retailers via API to create more relevant, intent-aware shopping experiences.".

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Leumas rents out robotic factory lines to brands that do not want to build a factory

Startups

Bengaluru-based Leumas offers modular, software-reconfigurable robotic production lines for the nutrition, cosmetics, and pharmaceutical sectors. By providing on-demand manufacturing capacity, the company allows brands to produce small batches without owning a factory. Leumas has scaled over 120 products globally and recently raised $2.2 million in a seed round led by Capital 2B to expand its infrastructure and launch pilot factories for wellness brands.

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Constelli builds the signal processing tools used to design radar and electronic warfare systems

Startups

Hyderabad-based Constelli specializes in signal processing and simulation for radar and electronic warfare systems, reducing the need for costly flight testing. Serving clients in India, South Korea, Australia, and Singapore, the company recently raised Rs 180 crore led by General Catalyst. Constelli is now expanding from providing development tools to creating communication and electronic warfare payloads for drones, satellites, and naval vessels to accelerate production.

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Xovian is building satellites that listen for radio signals rather than take images

Startups

Bengaluru-based Xovian Aerospace is developing a constellation of radio frequency nanosatellites to provide sovereign intelligence for India. Unlike optical imaging, their AI-native system processes signals on-orbit to track "dark" vessels and aircraft regardless of weather or light. Having raised $4.5 million in funding, the company aims to deliver low-latency insights for government and enterprise users, with initial space trials expected by the end of 2025.

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Vikra Ocean Tech builds underwater robots for inspection, survey and defence work

Startups

Chennai-based Vikra Ocean Tech develops indigenous ocean robotics to replace expensive imports in India. The company offers a comprehensive stack, including deep-water ROVs, autonomous surface vessels, and crawling robots, all managed via a single control platform. Targeting defence, infrastructure, and environmental research, Vikra recently raised $1 million in seed funding to scale manufacturing and build a sales pipeline following two Ministry of Defence grants.

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Google Maps adds agentic features, including food ordering and hotel bookings

Startups

Google is enhancing Google Maps’ “Ask Maps” feature with new agentic capabilities, enabling users to order food, book hotels, and purchase event tickets. The update introduces Personal Intelligence, which integrates Gmail and Google Calendar for personalized travel and dining responses. Additionally, Ask Maps now remembers previous conversations and includes a live transit widget for real-time updates. These features aim to transform the app into a comprehensive personal assistant.

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