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

Source: inc42

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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Large firms to be net job losers, small businesses to drive employment: Nandan Nilekani

Startups

Infosys co-founder Nandan Nilekani predicts that AI and automation will make large Indian corporations net job losers, as structured tasks are easily automated. Instead, he argues that millions of small businesses will drive future employment due to their resilience. Nilekani expects India to reach one million startups by 2035, emphasizing the need for deregulation, digital market access, and portable benefits to support a flexible, gig-oriented workforce.

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IPO-Bound Shiprocket FY26 Loss Widened 7%YoY To ₹79 Cr

Business

Logistics unicorn Shiprocket is preparing for an IPO from August 12 to 14, targeting a valuation of ₹7,000 Cr. The company aims to raise up to ₹885.5 Cr through a fresh issue and offer for sale. For FY26, Shiprocket reported operating revenue of ₹2,024 Cr, a 24% increase, though net consolidated losses widened by 6.5% to ₹79.2 Cr. Proceeds will fund marketing, IT infrastructure, and debt repayment.

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Swiggy targets Rs 10,000 Cr adjusted EBITDA by FY31

Startups

Swiggy aims for an adjusted EBITDA of approximately Rs 10,000 crore by FY31, driven by growth in food delivery, quick commerce, and out-of-home consumption. The company expects its consolidated Gross Order Value to reach Rs 2.5 lakh crore by FY31. With domestic ownership exceeding 50%, Swiggy remains debt-free with Rs 14,400 crore in cash, projecting a shift from losses to positive earnings per share by FY31.

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Mitti Labs raised $9.5M in Series A from Aramco Ventures, others

Startups

The company said that it will expand its geographical footprint in India and launch greenfield projects in the Philippines and Indonesia.

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Inside The Economics That May Make Or Break Instant Home Services

Business

Urban Company and Snabbit have both surpassed 100,000 daily orders, signaling the mainstream adoption of instant home services. The industry is now shifting its focus from rapid growth to improving unit economics and achieving profitability. Companies are prioritizing denser micromarkets to reduce fulfillment costs and expanding service categories to increase customer spending. While burn per order is declining, long-term sustainability depends on operational efficiency and labor supply.

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From Firefly To Honeybee: How India’s Pixxel Is Widening What Satellites Can See

Business

Pixxel, an Indian startup, is expanding its hyperspectral imaging satellite constellation, including the upcoming Honeybee series. Selected by NASA in 2024, Pixxel provides crucial Earth observation data for climate, agriculture, and resource management. This growth highlights India's private space sector's maturity, moving beyond launch vehicles to develop advanced global satellite technology and insights for governments and enterprises worldwide.

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Nazara To Raise ₹733 Cr Via Preferential Issue To Fund Acquisitions, Growth

Business

Gaming major Nazara Technologies has approved raising up to ₹733.5 Cr through a preferential issue of equity shares to fund.

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Dronetech Startup Garuda Aerospace Gets SEBI Nod For ₹750 Cr+ IPO

Business

Chennai-based dronetech startup Garuda Aerospace has received SEBI's final observation for its proposed IPO, following a confidential pre-filing in April. The public issue will include a fresh equity share issue of up to ₹750 crore and an offer-for-sale component. Founded in 2015, the company specializes in drone manufacturing and services for defense and agriculture, reporting a net profit of ₹18.4 crore in FY25.

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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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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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