Inc42

SUMMARY Zerodha remains highly profitable, but its core brokerage business is shrinking. As Groww races ahead on customers, the company faces pressure to find new growth engines Zerodha’s core business is no longer growing. Regulatory curbs and changing investor behaviour are cooling trading activity and squeezing brokerage revenue. Broking revenue fell 10.4% from ₹3,066 Cr in FY25 to ₹2,738 Cr in FY26.

SUMMARY Electric two-wheeler maker Ola Electric has secured a ₹95.81 Cr incentive under the government’s Production Linked Incentive (PLI) Scheme The Bhavish Aggarwal-led company had earlier received a sanction of ₹73.74 Cr for FY24 in March 2025, followed by ₹366.78 Cr for FY25, announced in December 2025 Besides the PLI for AAT products, Ola Electric is also eyeing up to ₹7,240 Cr in battery cell PLI incentives Electric two-wheeler maker Ola Electric has secured a ₹95.81 Cr incentive under...

SUMMARY Shiprocket emerged as the biggest loser among new-age tech stocks this week, while SME-listed Klassroom led the gainers The mixed performance came amid continued weakness in the broader equities market and heightened volatility during the monthly derivatives expiry Of the 62 new-age tech stocks under Inc42’s coverage, 36 ended the week lower, while 26 gained Investor sentiment towards new-age tech stocks remained subdued this week even as the IPO pipeline continued to expand.

SUMMARY Meta will pay approximately $18 Bn and introduce stricter safeguards for teenage Facebook and Instagram users in participating US jurisdictions The safeguards show Meta can redesign its platforms to protect teenagers, raising questions about why similar protections are not being extended to India and other markets India is exploring age-based social media restrictions, while experts are calling for age-appropriate product design, stronger age-assurance systems, and greater platform...

SUMMARY Ather Energy has launched its Konarc electric scooter at a starting price of ₹99,999 The competitively priced Konarc could help Ather deepen its presence in India’s mass-market electric two-wheeler segment The scooter offers four claimed range options of 100 km, 120 km, 165 km, and 200 km, along with onboard and combined charging capabilities EV maker Ather Energy launched its new Konarc electric scooter at its annual Community Day today.

SUMMARY Indian startups raised $210.3 Mn across 23 deals between August 24 and 28, a 9.8% decline from the $233.2 Mn raised by 19 startups in the previous week Ecommerce and Advanced hardware & technology led this week’s funding activity, with four deals each and raising cumulative $108.4 Mn Capital 2B and Equanimity Investments emerged as the most active investors during the week, participating in two deals each Indian startup funding activity took a minor hit in the last week of August.

SUMMARY With more than two decades of experience under his belt, Singh has previously served at companies like Aviva India, PNB Metlife and Edelweiss Tokio Life Insurance Raise has hired a seasoned veteran to turn the recently acquired GIBL into a consumer insurtech brand under Pluto, and to build a broader wealthtech universe Pluto Insurance will be housed under Greenlife Insurance Brokers, which was acquired by Raise Financial earlier this year in a cash-and-stock deal Fintech unicorn Raise...

SUMMARY The shares that flooded the market were lapped up by National Pension System Trust, Bajaj Life Insurance, BofA Securities, Edelweiss, Goldman Sachs, among others Early backers are using Lenskart’s strong results and rising share price to exit or trim stakes, while large domestic institutions are stepping in as new shareholders The stake sales come as Lenskart’s consolidated net profit surged 273% YoY to ₹228.4 Cr in Q1 FY27, while operating revenue jumped 43% YoY to ₹2,714.2 Cr Early...

SUMMARY Gnani.ai has unveiled Artha, a sovereign AI stack built on its 30 Bn-parameter multilingual model Evon v3.3 and agentic AI platform Plexus Artha is aimed at helping enterprises and public institutions deploy AI while retaining control over sensitive data and the underlying technology Evon v3.3 supports 11 Indian languages, while its weights are available upon request on Hugging Face under an Apache 2.0 licence Voice AI startup Gnani.ai has unveiled Artha, an end-to-end sovereign AI...

SUMMARY Ahead of the commencement of the bidding for its public issue on August 31, Pernia’s Pop Up Shop parent Purple Style Labs has raised nearly ₹306 Cr from anchor investors Purple Style Labs’ public consists solely of a fresh issue of shares worth up to ₹680 Cr, with no offer for sale component In a filing with the exchanges, the company said that it allotted 53.2 Lakh equity shares to ten anchor investors at ₹575 apiece, the upper end of its IPO price band Ahead of the commencement of...