Urban Company Posts ₹92 Cr Loss In Q1, Revenue Up 44% YoY

Source: inc42

Urban Company Posts ₹92 Cr Loss In Q1, Revenue Up 44% YoY

Business

Urban Company reported a consolidated net loss of ₹92.1 crore in Q1 FY27, compared to a ₹6.9 crore profit in the same period last year. While operating revenue grew 43.9% to ₹528.3 crore, total expenses rose 66.5% to ₹639.9 crore. This loss is primarily attributed to aggressive investments in its InstaHelp vertical, where the company is prioritizing market leadership over immediate profitability despite improving unit economics.

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ED Arrests Armstrong Exchange Founder Over Alleged Online Betting Scam

Business

Armstrong Exchange founder Sagar Dash has been arrested by the ED for an alleged online gaming and betting scam. The investigation uncovered a network of mule accounts and shell entities used to route hundreds of crores in crime proceeds. Dash was remanded to ED custody under PMLA. The ED froze approximately ₹9 Cr across multiple bank accounts and also arrested Edsom Fintech CEO Ram Ramdhani, continuing its probe into the extensive financial network.

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OpenAI reportedly lowers funding target for new round

Startups

OpenAI's latest funding round is reportedly facing challenges, with initial targets of $30 billion at a $1.4 trillion valuation now lowered to $20 billion. The company has secured $11 billion so far, experiencing a "tepid" response from some large investors. The round is led by UAE investors, with a retail offering planned. This downturn is partly attributed to Wall Street's caution regarding heavy AI infrastructure spending and a broader tech stock.

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E2W Registrations Rise 2.9% MoM To 2.15 Lakh In October, TVS & Hero Gain Market Share

Business

India’s E2W registrations increased 2.9% MoM to 2.15 Lakh units in October, marking a second consecutive month of growth and a 48.1% YoY rise. TVS retained the lead with a 27.2% market share, while Hero MotoCorp saw strong growth, reaching 13.4%. Conversely, Bajaj Auto, Ather Energy, and Ola Electric recorded MoM registration declines, with some manufacturers citing capacity constraints impacting their sales performance.

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MeitY unveils DEPA handbook to enable trusted data sharing for AI training

Startups

MeitY launched a handbook on Data Empowerment and Protection Architecture (DEPA) for AI training. This techno-legal framework enables institutions to collaborate on data while maintaining control, addressing privacy and intellectual property concerns. DEPA combines contractual permissions, controlled computing, and privacy safeguards, ensuring data provenance for accountability. It facilitates.

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Reliance Retail focuses on disciplined JioMart expansion, targets profitability from FY28

Startups

Reliance Retail is rapidly expanding its dark store network and quick commerce operations, focusing on smaller cities and leveraging its existing physical stores. The company prioritizes unit economics and profitability, even closing unproductive large stores. Investments in online growth are expected to boost profitability from the.

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Can D-Propulse Help India Reduce Its Dependence On Foreign Missile Engine Technology?

Business

D-Propulse is developing rotating detonation engines (RDEs) to create cheaper, more efficient jet engines, aiming to reduce India's dependence on foreign technology. These RDEs use supersonic detonation waves for thrust, promising improved fuel efficiency and compactness. The startup demonstrated a 5 kN air-breathing RDE, with flight tests planned for 2027 and limited production by 2028. It also explores testing services for early revenue, navigating a competitive global market.

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This art festival reveals why the creative economy is as much about audiences as creators

Startups

"Chennai recently hosted the third edition of the 'Contemporary Now' art festival, featuring diverse artworks across ten venues. Collaborating with galleries from several Indian cities, directors Ashvin Rajagopalan and Priyanjoli Basu aimed to enhance art appreciation in Chennai. The event highlighted evolving trends, including themes of gender and climate change, while discussing the dual impact of digital platforms on artist visibility and creative satisfaction.".

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Binance hit with $6.3B breach; Delhivery reports net profit of Rs 41 Cr in Q2

Startups

Dear Reader, Atomberg Technologies is gearing up for its public outing. The smart appliance disruptor has officially secured SEBI's green light to float its initial public offering, blending a Rs 450 crore fresh issue with an offer for sale of over 76.5 million equity shares. Known for transformin.

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Exclusive: upliance.ai In Talks To Raise Up To $4 Mn For R&D, Global Expansion

Business

Smart kitchen appliance startup upliance.ai is in advanced talks to raise $3 million to $4 million in a Series A funding round, expected to close by January 2027. The capital will support R&D, interface enhancements, and international expansion. Backed by Khosla Ventures, the company utilizes generative AI for its cooking assistants. This move comes as India's smart kitchen market is projected to reach $2.99 billion by 2032.

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Salesforce’s M&A spree continues with a reported $375M deal for defense tech startup Rune

Startups

Salesforce is acquiring Rune Technologies for $375 million in cash and stock, enhancing its defense tech unit, Missionforce. Rune develops AI software to help the U.S. military predict supply needs and manage battlefield logistics. This acquisition deepens Salesforce's push into national security, following Missionforce's 80% growth and a recent $5.6 billion U.S. Army contract, extending its support beyond administrative planning to frontline operations.

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MeitY Floats New Privacy-Led Framework To Unlock Data For Training AI Models

Business

India's IT ministry proposed a consent-based Data Empowerment and Protection Architecture (DEPA) for AI training. This framework enables startups and institutions to access India-specific datasets for AI model development while safeguarding citizen privacy. It facilitates collaboration without direct data transfer through secure techno-legal architecture.

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Atomberg Technologies receives SEBI nod for IPO

Startups

Atomberg Technologies received SEBI approval for its IPO, combining a fresh issue of Rs 450 crore and an offer for sale. Proceeds will fund debt, marketing, R&D, and general corporate purposes. The consumer appliance maker reported FY26 revenue of Rs 1293.77 crore, a 34.83% growth, alongside a Rs 148.88 crore loss. Atom.

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Skip the small talk: Make game-changing connections at TechCrunch Founder Summit with Braindate

Startups

At TechCrunch Founder Summit 2026, happening November 4 at SoWa Power Station in Boston, networking powered by Braindate is designed to make those conversations easier to find, whether they are in 1:1 or small-group on-site meetings. Register before the event starts to save up to $100 on your pass, plus get a second for free.

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Delhivery reports net profit of Rs 41 crore in Q2 of FY27

Startups

Delhivery reported a net profit of Rs 40.63 crore in Q2 FY27, reversing a loss from the previous year, with revenue climbing 19.8%. The logistics firm saw strong growth in express parcel and part truck load volumes. New businesses, including Delhivery Local, are expanding rapidly and exceeding revenue targets. Investments in AI are improving productivity, while Delhivery Robotics is developing autonomous vehicles. Despite a volatile macro environment, the company expresses confidence, citing improved service levels and profitability.

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PB Fintech Q2 Profit Jumps 42% YoY To ₹192 Cr, Revenue Up 35%

Business

PB Fintech, an insurtech company, reported a strong financial performance in the September quarter of FY27. Consolidated net profit jumped 42.5% year-on-year to ₹192.4 Cr, up from ₹135 Cr last year. Operating revenue also increased significantly, rising almost 35% year-on-year and 15% quarter-on-quarter to ₹2,177.7 Cr. Total expenses for the quarter stood at ₹2,067.7 Cr, highlighting robust growth.

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India needs a digital goods marketplace and control of its distribution layer, say Indus Appstore and Eloelo

Startups

Priya Narasimhan of Indus Appstore and Sagar Gaonkar of Eloelo Group argued that India’s next 500 million users will come through AI-ready, locally priced platforms, and that sovereignty must extend beyond chips and models to app distribution, billing and data.

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Binance estimates $6.3B impact from security breach, freezes $3B in crypto assets

Startups

Cryptocurrency exchange Binance estimates a major security incident's total impact at $6.3 billion, with $3 billion in digital assets frozen on-chain. Preliminary findings suggest a compromised DevOps engineer's laptop led to unauthorized withdrawals, though no private-key compromise occurred. Binance has suspended deposits/withdrawals, assured users it will cover all losses.

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Pine Labs Q2 net profit soars 6.5x; Cognizant trims 2026 growth outlook

Startups

Pine Labs’ net profit rose 6.5 times to Rs 38.6 crore in the second quarter of FY27, while revenue grew 24% year on year to Rs 806 crore. In other news, Cognizant has trimmed the upper end of its annual growth guidance for 2026.

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Bluesky blocks links to leaked DHS employee data as government seeks takedowns

Startups

Bluesky is blocking access to a nonprofit's website hosting over 40,000 leaked U.S. Department of Homeland Security employee records. A hacker obtained names and contact information, which DDoSecrets then published. Bluesky cited community guideline violations for marking links as "malicious." DHS confirmed awareness of the breach and is addressing it, while also issuing takedown notices that led to a search site hosting the sensitive.

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Amazon updates Alexa to help you manage shopping lists, subscriptions, and update delivery instructions

Startups

Amazon has introduced over 100 new shopping capabilities for Alexa ahead of the holiday season. Users can now manage subscriptions, create and edit shopping lists, update delivery instructions, resolve payment issues, and inquire about Prime and Audible subscriptions. This significant update aims to streamline the shopping experience, building on Amazon's recent AI-centric feature launches. Alexa.

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