Download the app
App StorePlay Store
Beige
Login
← All sources
Inc42

Inc42

Delhivery Q4 profit stays flat at ₹72.4 crore even as revenue jumps 30% year on year

Delhivery Q4 profit stays flat at ₹72.4 crore even as revenue jumps 30% year on year

Delhivery reported a near-flat consolidated net profit of ₹72.4 crore for Q4 FY26, compared with ₹72.5 crore in the year-ago quarter. Revenue climbed 30% to ₹2,850 crore from ₹2,191.6 crore, while total income reached ₹2,909.4 crore including other income of ₹59.4 crore. On a sequential basis, profit rose sharply 83.3%. However, total expenses also grew 26.9% to ₹2,853.1 crore, keeping profitability muted.

Summarised by Beize from a story on Inc42 on 16 May 2026
Gig workers union demands higher payouts with 5-hour app shutdown over fuel price shock

Gig workers union demands higher payouts with 5-hour app shutdown over fuel price shock

The Gig & Platform Service Workers Union (GIPSWU) has called for a nationwide five-hour shutdown of app-based services today, from 12 PM to 5 PM. The union says rising fuel costs after a roughly ₹3 per litre hike in petrol and diesel will squeeze earnings for lakhs of gig workers, arguing that platform payouts have stayed largely unchanged. It demands a central law, legal protections, and a minimum kilometre-based service rate of ₹20 per km, citing stagnant delivery charges and NITI Aayog estimates of rapid gig-worker growth.

Summarised by Beize from a story on Inc42 on 16 May 2026

Your news, in seconds

App StorePlay Store
UAE gifts Cerebras AI superchip to Modi unveiling Condor Galaxy India compute cluster

UAE gifts Cerebras AI superchip to Modi unveiling Condor Galaxy India compute cluster

After hosting BRICS foreign ministers in New Delhi, Prime Minister Narendra Modi flew to the UAE, where President Sheikh Mohamed bin Zayed Al Nahyan presented him a Cerebras AI chip. The gift formalises Condor Galaxy India, an 8-exaflop supercomputing partnership backed by G42 and C-DAC. Sixty-four Cerebras CS-3 systems will power a major AI compute cluster in India, aiming to bring sovereign training capacity onshore, cut reliance on foreign clouds, and give startups and researchers frontier-scale access.

Summarised by Beize from a story on Inc42 on 16 May 2026
Rapido sparks Indian startup funding surge as 15 firms raise 303 million in five days despite dip risks

Rapido sparks Indian startup funding surge as 15 firms raise 303 million in five days despite dip risks

Indian startup funding jumped sharply this week, thanks largely to Rapido’s mega round. Across May 11–15, 15 startups raised $303 million, up 129% from $132.2 million the week before. Yet the jump is heavily skewed: Rapido alone injected $240 million in fresh capital. Excluding Rapido, total funding would have dropped 52%. Ecommerce led deal activity, while seed-stage funding fell to $2.6 million, down from $5.6 million prior week.

Summarised by Beize from a story on Inc42 on 16 May 2026
Zerodha buys ₹93 crore stake in Nazara Technologies as Axana Estates expands and Mitter Infotech exits

Zerodha buys ₹93 crore stake in Nazara Technologies as Axana Estates expands and Mitter Infotech exits

Zerodha (Zerodha Broking Ltd) bought over 35 lakh shares of Nazara Technologies in a bulk deal priced at ₹265.85 per share, worth ₹93.05 crore. Alongside, Nazara promoter Axana Estates acquired 1.48 crore shares for ₹392.9 crore. The selling side was promoter group entity Mitter Infotech LLP, which offloaded 42 lakh shares on NSE and 1.51 crore shares on BSE, bringing its stake to 6.09% as of March quarter. Nazara shares surged intraday to ₹314 before closing at ₹300.10.

Summarised by Beize from a story on Inc42 on 15 May 2026
Mobavenue AI Q4 PAT Jumps 60% to ₹8.4 Cr as Revenue Accelerates 42% YoY

Mobavenue AI Q4 PAT Jumps 60% to ₹8.4 Cr as Revenue Accelerates 42% YoY

Mobavenue AI Tech delivered a strong Q4 FY26, with PAT jumping 60% to ₹8.4 Cr and operating revenue rising 42% YoY to ₹62.6 Cr. The gains came even as total expenses climbed 40% YoY to ₹51.5 Cr, led by supply and data costs that surged about 50% to ₹36.4 Cr. For FY26, PAT more than tripled to ₹29.3 Cr and revenue surged 152% YoY to ₹218.5 Cr, supported by direct advertiser demand.

Summarised by Beize from a story on Inc42 on 15 May 2026

Never miss a story

App StorePlay Store
Lightrock plans $500 million energy fund Accelerate7 to back Indian growth stage clean tech startups

Lightrock plans $500 million energy fund Accelerate7 to back Indian growth stage clean tech startups

PE firm Lightrock is launching its $500 million, energy-focused fund Accelerate7, aiming to back growth-stage startups across Southeast Asia, South Asia, and Sub-Saharan Africa. Lightrock expects a meaningful allocation to India, targeting companies advancing UN SDG 7 through energy storage, electric mobility, sustainable energy transition, energy financing, and related enabling tech. The fund will invest $10–$50 million per startup, backed by a requirement for commercial viability and regular impact reporting. It has already invested in Euler Motors and SolarSquare.

Summarised by Beize from a story on Inc42 on 15 May 2026
Delhi HC tells CCI to hold off final order against Apple in App Store antitrust probe

Delhi HC tells CCI to hold off final order against Apple in App Store antitrust probe

The Delhi High Court has asked the Competition Commission of India to avoid passing any final order in its antitrust probe into Apple’s App Store practices. The bench, citing possible complications, noted that Apple’s separate legal challenge to India’s competition penalty framework is still pending. After the court’s direction, CCI assured it would not issue a final decision. The dispute escalated as Apple challenged the regulator’s push for global financial records and CCI’s May 21 final hearing schedule.

Summarised by Beize from a story on Inc42 on 15 May 2026
Innovaccer cuts 340 jobs as it pivots to an AI native company in another restructuring round

Innovaccer cuts 340 jobs as it pivots to an AI native company in another restructuring round

Healthtech unicorn Innovaccer has laid off 340 employees in another restructuring, according to sources cited by Inc42. This marks its third layoff round in four years, with impacts across teams in both India and the US. Internally, CEO Abhinav Shashank said the move supports Innovaccer’s transition into an AI-native company. The company confirmed the job cuts, saying it is “aligning its team” to current priorities and building a leaner organization focused on customer outcomes.

Summarised by Beize from a story on Inc42 on 15 May 2026
Rapido raises $240 million at $3 billion valuation as it plots faster multi modal expansion

Rapido raises $240 million at $3 billion valuation as it plots faster multi modal expansion

Rapido, the ride-hailing unicorn, has raised $240 million (₹2,302 crore) at a $3 billion post-money valuation, led by existing backer Prosus with participation from WestBridge Capital, Accel, and other undisclosed investors. The company says this is part of a larger $730 million round combining primary and secondary transactions. Rapido plans to expand into new markets, deepen existing operations, grow its driver base, and invest in technology and hiring to build denser, more reliable supply.

Summarised by Beize from a story on Inc42 on 15 May 2026

Reading on mobile?

App StorePlay Store
Flipkart IPO Delayed to 2028 as Walmart blocks fundraising and demands EBITDA breakeven in FY27

Flipkart IPO Delayed to 2028 as Walmart blocks fundraising and demands EBITDA breakeven in FY27

Flipkart has reportedly deferred its IPO plans to at least next year, with Walmart—the retailer holding 80%—pushing the company to prioritize EBITDA breakeven in FY27. Walmart is said to have asked Flipkart to pause fundraising, putting its planned $2–2.5 billion pre-IPO round on hold. The move also raises questions about Flipkart Minutes, its quick commerce arm, which is capital- and cash-burn heavy amid fierce competition. Flipkart’s internal restructuring and cost efforts have not yet convinced Walmart.

Summarised by Beize from a story on Inc42 on 15 May 2026
Legend of Toys raises ₹21 cr pre-Series A to expand RC and narrative play into DIY and global markets

Legend of Toys raises ₹21 cr pre-Series A to expand RC and narrative play into DIY and global markets

D2C toy startup Legend of Toys has raised ₹21 crore in a pre-Series A round led by Singularity Early Opportunities Fund, with participation from Veltis Capital, Enzia Ventures, DeVC, Atrium Angels, and Stride. Founded in 2024 by Afshaan Siddiqui and Vinay Jaisingh, it will use the funds to deepen its RC and narrative play lines, scale manufacturing, and expand international distribution. The brand also plans growth in DIY and more consumer marketing, alongside digital expansion.

Summarised by Beize from a story on Inc42 on 15 May 2026
Simple Energy gears up for IPO with ₹126.7 cr raise led by Thyrocare founder

Simple Energy gears up for IPO with ₹126.7 cr raise led by Thyrocare founder

Simple Energy, an IPO-bound electric two-wheeler startup, is raising ₹126.7 crore in a round led by its existing backer, Thyrocare founder Arokiaswamy Velumani. MCA filings show shareholders approved issuance of 2.11 lakh Series X CCPS at ₹6,000 each. Cofounders Suhas Rajkumar and Ankit Gupta will invest ₹13.5 crore each. The funding supports growth and business expansion as the company prepares for a public listing, having already built a total funding pool above $84 million.

Summarised by Beize from a story on Inc42 on 15 May 2026
Shadowfax rallies 17% to record high after Q4 profit swing and revenue surge impress investors

Shadowfax rallies 17% to record high after Q4 profit swing and revenue surge impress investors

Shadowfax shares surged as much as 17.2% to an all-time high of ₹192.35 on the BSE after a strong Q4 update, though profit booking later pulled it to about 9% higher at ₹178.8. The company reported Q4 FY26 net profit of ₹55.8 crore versus a net loss of ₹9.9 crore a year earlier, alongside 73.6% jump in operating revenue to ₹1,237 crore. Adjusted EBITDA rose to ₹58 crore as margins expanded, supported by AI-led automation and quick commerce expansion.

Summarised by Beize from a story on Inc42 on 15 May 2026

Follow your favourite sources

App StorePlay Store
Goldman Sachs Offloads Jio Financial Services Shares in 62 Cr Block Deal With Morgan Stanley Buying Entire Lot

Goldman Sachs Offloads Jio Financial Services Shares in 62 Cr Block Deal With Morgan Stanley Buying Entire Lot

Goldman Sachs has sold 26.8 lakh shares of Jio Financial Services in a ₹62 crore block deal, selling at ₹231.45 per share—about a 1.1% discount to the previous day’s price. Morgan Stanley Asia Singapore Pte bought the entire quantity. Despite the large divestment, JFS shares closed up 1.1% at ₹234.20 on the BSE. The move adds to a period of rapid expansion, even as critics question differentiation amid profit decline in Q4 FY26.

Summarised by Beize from a story on Inc42 on 14 May 2026
Dhan Bets Big on Insurtech Buying Greenlife Insurance to build a direct consumer insurance empire

Dhan Bets Big on Insurtech Buying Greenlife Insurance to build a direct consumer insurance empire

Dhan’s parent Raise Financial Services is accelerating its full-stack fintech ambitions with a cash-and-stock acquisition of insurance broker Greenlife Insurance (GIBL). The deal, terms undisclosed, will bring GIBL’s 25-member team to Mumbai and is paired with a $15 million investment to build a direct-to-consumer insurance business. Raise says it’s a natural bridge from financial planning to recurring trust, leveraging GIBL’s offline presence across 50 East and Northeast cities plus B2B relationships, while the risk is overbuilding amid multiple acquisitions.

Summarised by Beize from a story on Inc42 on 14 May 2026
Delhi NCR becomes India’s top D2C hub with $3.5 billion funding and 434 deals in six years

Delhi NCR becomes India’s top D2C hub with $3.5 billion funding and 434 deals in six years

Delhi NCR has emerged as India’s leading D2C startup hub, topping both funding and deal counts between 2015 and Q1 2026. D2C startups in the region raised over $3.5 billion across 434 deals, beating Bengaluru’s $3.4 billion and Mumbai’s $2 billion. The NCR also spawned standout exits like Lenskart and Honasa Consumer. Analysts link the shift to faster-growing startup ecosystems, early-stage investor interest, and rising demand for omnichannel brand building.

Summarised by Beize from a story on Inc42 on 14 May 2026
upGrad files to win CCI nod for Unacademy acquisition worth ₹2,055 crore in all-stock deal

upGrad files to win CCI nod for Unacademy acquisition worth ₹2,055 crore in all-stock deal

upGrad has filed with India’s Competition Commission for approval to acquire Unacademy, sealing an all-stock deal after months of speculation. The merger, expected to be valued around ₹2,055 crore, marks a steep drop from Unacademy’s 2021 peak valuation and is aimed at letting upGrad enter online test preparation. Unacademy is also expected to bring ₹900–₹950 crore in cash at closing. The talks, once paused over valuation mismatch, resumed after a term sheet signed in March.

Summarised by Beize from a story on Inc42 on 14 May 2026

Stay informed on the go

App StorePlay Store
Shadowfax plans 85 new dark stores to reach 100 by FY27

Shadowfax plans 85 new dark stores to reach 100 by FY27

Logistics firm Shadowfax plans to expand its dark store footprint from 15 to 100 stores by FY27, targeting a tight 7 km operating radius for ~30 minute delivery. It expects vertical quick commerce platforms to deliver higher value per engagement, while AI automation helps speed sorting breakeven and cut scaling overheads. The company also reported a sharp Q4 FY26 profit rebound.

Summarised by Beize from a story on Inc42 on 14 May 2026
ED Freezes Gameskraft Assets 526 Cr Accuses Bot Tricks and High Stake Losses

ED Freezes Gameskraft Assets 526 Cr Accuses Bot Tricks and High Stake Losses

The Enforcement Directorate has frozen Gameskraft Technologies assets worth ₹526.49 crore, seizing gold jewellery and cash as part of a money laundering probe. ED claims the company bypassed geolocation bans and used bots to manipulate outcomes, first luring users with small wins before losses at higher stakes. The action follows arrests of cofounders and scrutiny intensified by the 2025 online gaming law.

Summarised by Beize from a story on Inc42 on 14 May 2026
Page 1

The full experience is on mobile.

Swipe through stories, personalise your feed, and save articles for later — all on the app.

Download on the App StoreGet it on Google Play