Nykaa To Acquire Majority Stake In D2C Skincare Brand Aminu

Source: inc42

Nykaa To Acquire Majority Stake In D2C Skincare Brand Aminu

Business

Nykaa's board has approved the acquisition of a 51% stake in premium D2C skincare brand Aminu for up to ₹32 crore. Expected to close by September 15, the deal expands Nykaa's premium beauty portfolio and leverages Aminu's R&D and omnichannel capabilities. Aminu reported FY26 revenue of ₹19.4 crore. Simultaneously, Nykaa reported a strong Q1 FY27, with consolidated net profit surging over three times to ₹79.8 crore.

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Apple says more ex-employees may have taken confidential data to OpenAI

Startups

Apple is seeking a preliminary injunction against OpenAI to prevent the development of products using its stolen trade secrets. The iPhone maker alleges that multiple former employees, including senior engineers, misappropriated proprietary information. Apple is requesting expedited discovery from OpenAI and Jony Ive's startup, io. OpenAI has denied these accusations, claiming the requests are based on false information and that they have no interest in Apple's secrets.

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Nykaa net profit soars over 3X, revenue up 29% in Q1

Startups

Nykaa reported a strong first quarter for FY27, with net profit surging over threefold to Rs 79.76 crore and revenue rising 29% to Rs 2,782 crore. While the beauty segment remains the primary profit driver, the fashion segment saw 48% growth despite ongoing losses. Additionally, Nykaa is acquiring a 51% stake in skincare brand Aminu for Rs 32 crore and expanding its AI-driven consumer experiences.

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NCPCR to probe Meta over child abuse ads on Instagram

Startups

"The National Commission for Protection of Child Rights is launching a formal inquiry into Meta after advertisements linked to child sexual exploitative material appeared on Instagram in India. Following a BBC Eye investigation, the commission aims to determine how these ads bypassed Meta's review systems. Simultaneously, the Ministry of Electronics and Information Technology is investigating, testing whether platforms face higher liability for paid advertisements than user-generated content.".

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India moves to give its instant payments network a business model

Startups

India is introducing legislation to potentially overhaul its Unified Payments Interface (UPI) business model by allowing merchant fees on certain transactions. Since 2020, a zero-merchant-discount-rate policy has driven adoption, but rising infrastructure costs have made this unsustainable for banks and fintechs. While consumer payments remain free, targeting high-value transactions could generate significant revenue, supporting further innovation and global expansion for the ubiquitous payments network.

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How Octobotics Is Saving Human Lives By Placing Robots In Hazardous Industrial Jobs

Business

Delhi NCR-based deeptech startup Octobotics is scaling its robotic industrial inspection business to replace hazardous manual processes. Founded in 2020, the company utilizes magnetic crawler robots and phased-array ultrasonic testing to detect structural defects for clients like IOCL and BPCL. Having raised ₹10 Cr in seed funding, Octobotics is now introducing lighter modular robots and transitioning to a service-based revenue model to enhance safety and efficiency.

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Is the future of data centers portable? Runware builds a pod to find out

Startups

"Runware has launched the Sonic Inference Pod, a modular, transportable data center designed for flexible AI inference. These pods offer a lower-cost, water-free alternative to traditional data centers, allowing for rapid deployment and scaling closer to end users. With ten pods already active globally and 160 potential sites, Runware aims to meet growing AI demand through a distributed network that reduces grid strain and infrastructure delays.".

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EON wants to move the data superhighway from ocean fiber to space lasers

Startups

Endeavor Optical Networks, a startup with $10.75 million in seed funding, aims to replace brittle undersea fiberoptic cables with a laser-equipped satellite network. Targeting hyperscalers and AI labs, the company plans to link global data centers via space-to-ground optical communications. EON intends to launch a demo satellite by 2027, focusing on high-throughput capacity and underserved routes to provide a resilient alternative for massive data transit.

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Govt to raise CSAM lapses, wrongful account action issue with Meta; global team in India on Aug 5-6

Startups

The Indian government will meet Meta's global team on August 5 and 6 to address several critical concerns. Key issues include the failure to curb Child Sexual Abuse Material, algorithmic bias, and the wrongful restriction of Prime Minister Narendra Modi's social media post. IT Secretary S Krishnan emphasized the need for better safeguards and strict compliance with Indian laws to ensure national security and public order on the platform.

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Bending Spoons to buy Airtable for $1.28B

Startups

Bending Spoons has agreed to acquire spreadsheet and database startup Airtable for $1.28 billion in cash. This marks Bending Spoons' first acquisition since going public in July at an $18 billion valuation. Airtable, which serves over 500,000 organizations including 80% of the Fortune 100, has seen its valuation drop from a peak of $11 billion. Bending Spoons typically acquires discounted brands to streamline operations and increase profitability.

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MapmyIndia Q1: Profit Rises 6% YoY To ₹50 Cr, Revenue Up 15%

Business

MapmyIndia reported a consolidated net profit of ₹50.4 crore for the June quarter of FY27, marking a 6.3% year-on-year increase from ₹47.4 crore, despite a 3.4% sequential decline. Operating revenue rose nearly 15% year-on-year to ₹139.7 crore, though it dipped 3.6% from the previous quarter. Total income reached ₹159.4 crore, including other income of ₹19.7 crore, while total expenses for the period were ₹92.9 crore.

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VC funding in July rises 29% YoY but declines sharply from June

Startups

India's venture capital funding dropped 61% in July to $804 million across 98 deals, following a strong June. Despite a 29.4% year-on-year increase, large-scale funding remains challenging, with only Emergent and Udaan securing over $50 million. Early-stage startups showed the most traction, while the late-stage market remained muted. Marketplace, fintech, and aerospace led sector funding, with Bengaluru, Delhi-NCR, and Mumbai remaining the primary hubs.

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Nykaa Q1: Profit Surges Over 3X YoY To ₹79.8 Cr

Business

Nykaa reported a significant increase in consolidated net profit for Q1 FY27, reaching ₹79.8 crore compared to ₹24.8 crore in the previous year. Operating revenue grew 29% year-on-year to ₹2,782 crore, while total expenses rose 26% to ₹2,662.2 crore. Additionally, the company's board approved the acquisition of a 51% stake in D2C skincare brand Aminu Wellness for ₹32 crore to expand its beauty portfolio.

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Home Decor Marketplace Vaaree Raises ₹65 Cr Led By Hero Enterprise

Business

Bengaluru-based home decor marketplace Vaaree has raised ₹65 crore in a Series A funding round co-led by Hero Enterprise and Cap Alpha Ventures. The startup will utilize the capital to expand its fulfillment network for faster deliveries and enhance VibeCheck, its proprietary AI-powered discovery engine. VibeCheck provides personalized product recommendations and room visualizations, aiming to act as a digital home stylist for Indian consumers.

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IPO-Bound LEAP India’s FY26 Profit Jumps 66% To ₹62 Cr, Revenue Up 56%

Business

LEAP India, a supply chain solutions provider, reported a 66% increase in FY26 net profit to ₹62.3 crore and a 56.4% rise in operating revenue to ₹729.5 crore. Growth was driven by its asset pooling business and the acquisition of CHEP India. Ahead of its ₹2,480 crore IPO, the company set a price band of ₹151 to ₹159, with the public issue opening on August 7.

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Fintech platform GetVantage raises Rs 63 Cr in Series A1 round

Startups

"B2B fintech platform GetVantage has raised Rs 63 crore in a Series A1 funding round co-led by Rajeev Ahuja and SanRaj Group. The company will use the capital to scale its Capital Gateway, an API ecosystem enabling embedded financing for B2B e-commerce and logistics hubs. By utilizing predictive analytics and alternative data, GetVantage provides MSMEs with seamless access to cash-flow-based financing, reducing reliance on traditional collateral.".

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Why India pays highway builders even when roads stay empty

Startups

India introduced the Hybrid Annuity Model (HAM) to replace the failed Build-Operate-Transfer system for national highways. Under HAM, the government funds 40% of construction and assumes all traffic and toll revenue risks, paying developers through inflation-indexed annuities. While early projects saw high completion rates, newer ventures face significant delays due to land acquisition issues and funding constraints for some developers, highlighting remaining systemic challenges.

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Capillary Tech Swings To ₹10 Cr Loss In Q1 Despite 42% YoY Revenue Growth

Business

SaaS company Capillary Tech reported a net loss of ₹9.6 Cr for Q1 FY27, contrasting with a ₹74.5 Lakh profit in the same quarter last year. Despite this, operating revenue grew 42% year-on-year to ₹256.6 Cr. The net loss was primarily driven by an exceptional loss of ₹33.4 Cr. Excluding one-off items, the company's normalised profit reached ₹25.4 Cr, representing a significant 332% increase year-on-year.

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Mark Zuckerberg Should Apologise Over PM Modi’s Facebook Video Removal: Parl Panel Chair

Business

Parliamentary Standing Committee chair Nishikant Dubey demanded an apology from Meta CEO Mark Zuckerberg after the platform temporarily removed a video of Prime Minister Narendra Modi. While Meta attributed the incident to a technical error, the committee raised broader concerns regarding AI moderation, deepfakes, and child safety. Consequently, Meta implemented stricter approval processes for moderation decisions, while the government considers reviewing the company's safe harbour protections.

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Klassroom IPO Oversubscribed 1.18X On Day 3 Till Now

Business

Edtech startup Klassroom’s IPO was fully subscribed, receiving bids for 20.74 lakh shares against 17.58 lakh offered. Driven largely by retail and non-institutional investors, the issue was 1.18 times oversubscribed. The company aims to raise ₹39 crore for technology upgrades and debt repayment, listing on the BSE SME platform on August 7. Klassroom reported a significant FY26 net profit of ₹7.6 crore, reflecting strong financial growth.

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