Six years after the National Company Law Appellate Tribunal (NCLAT) ordered a probe into alleged abuse of dominance by Flipkart, the Supreme Court has now reportedly set aside that ruling and sent the matter back to the appellate tribunal for a fresh review. As per a report by Bar and Bench, the SC bench, which comprised of CJI Surya Kant and Justices Joymalya Bagchi and Vipul Pancholi, ruled that the NCLAT must independently decide whether there is enough basis to order an investigation, without relying on material that may not be legally relevant under the Competition Act. Further, it noted that the earlier NCLAT ruling appeared to rely on observations made during income tax proceedings against Flipkart India. Those findings were later overturned by the Income Tax Appellate Tribunal (ITAT).  The case dates back to a 2018 complaint filed by the All India Online Vendors Association (AIOVA), which represents over 2,000 online sellers. The association had accused Flipkart of abusing its position by favouring large sellers and enabling deep discounting that hurt smaller vendors. While the CCI had earlier closed the complaint, holding that neither Flipkart nor Amazon was dominant in India’s online marketplace, the NCLAT overturned that finding in…  ​Read MoreInc42 Media

Today, India’s startup scene is active, with several tech startups raising funds in AI, market intelligence, and enterprise SaaS. Key business updates included acquisitions, IPO filings, VC exits, and fintech profit growth, highlighting ongoing momentum and change across industries.Daily Indian Funding Roundup – 3rd February 2026 CompanyAmountRoundLead investor(s)SectorLoop AI$14 MSeries ANyca Partners, Gokul Rajaram, Base10Enterprise AIMindcase₹1.5 CrPre‑seedAJVCMarket intelligence SaaS Loop AI Raises $14 Million in Series A RoundEnterprise AI platform Loop AI has raised $14 million in a Series A funding round led by Nyca Partners, with participation from angel investors including Gokul Rajaram and Base10. This capital infusion will support expansion of Loop AI’s enterprise‑grade artificial intelligence solutions, enhance product capabilities, and accelerate go‑to‑market initiatives to help enterprises adopt AI for operational and analytical workflows.Market Intelligence Startup Mindcase Secures ₹1.5 Crore in Seed FundingMindcase, a market intelligence startup co‑founded by IIM Ahmedabad alumni Kritish Puri and Saurabh Shubham, has raised ₹1.5 crore in a pre‑seed round led by early‑stage VC AJVC. The Gurugram‑based firm uses AI‑powered workflows and proprietary data agents to transform unstructured data into actionable market insights and will use the funds to scale its SaaS platform and expand its data coverage.Key Business News for 3rd February 2026HORIBA India Acquires Pristine Deeptech to Strengthen R&D CapabilitiesJapanese…  ​Read MoreStartupTalky- Business News, Insights and Stories

HORIBA India Private Limited, a HORIBA Group company, has acquired 100% of the shares of Pristine Deeptech Private Limited, a company engaged in a wide range of research and development related to the utilisation of Lab Grown Diamond as a material in the Semiconductor and Quantum research fields, thereby making Pristine Deeptech a wholly owned subsidiary.HORIBA’s acquisition of Pristine Deeptech reinforces its expertise in diamond technologies, supports the creation of an R&D hub in India and strengthens its ability to deliver innovative analytical and measurement solutions.Elated on the occasion, Mr. Hideyuki Koishi, Director and General Manager (Group Strategy Division), HORIBA Ltd, and Chairman, HORIBA India, said, “We are delighted to partner with Pristine Deeptech Private Limited to establish our R&D facility in India.  The strategic partnership represents a big step towards strengthening our capabilities in advanced materials and semiconductors. With this, we will be focusing on innovation and strengthening our R&D capabilities in the market. The partnership reinforces our commitment to the Indian market and focuses on delivering solutions that contribute meaningfully to technological progress and society.”Dr. Rajeev Gautam, President, HORIBA India Private Limited, said, “Aligned with the India’s vision of Atmanirbhar bharat/Make in India, our partnership with Pristine Deeptech…  ​Read MoreStartupTalky- Business News, Insights and Stories

Delhi NCR-based gaming startup Zupee has acquired Mumbai-based microdrama startup Vertical TV to strengthen its short-video offering, sources told Inc42.  The acquisition, valued at under INR 40 Cr, will help Zupee strengthen its recently launched short-video content platform Zupee Studio. Vertical TV has started hiring talent to scale Zupee Studio, the sources added.  Vertical TV was launched by Mohit Paliwal in 2024 under the umbrella brand ‘The Eight Network’. Inc42 couldn’t ascertain if Paliwal joined Zupee following the acquisition. Zupee declined to comment on Inc42’s queries on the development. Notably, Zupee fired around 40% of its workforce, or 200 employees, last week as part of a cost-cutting exercise following the ban on real money gaming. The layoffs were announced in a town hall by cofounder and CEO Dilsher Singh Malhi.  The layoffs came almost four months after the startup fired around 170 employees, nearly 30% of its workforce. The Delhi NCR-based startup, which has raised $120 Mn in funding to date, counts investors such as Z47 Partners, Orios Venture Partners, Nepean Capital, among others, as its backers. It has been reeling under pressure after the government banned real money gaming last year.  The Centre’s move resulted in real money gaming…  ​Read MoreInc42 Media

Gone are the days of poring over online forums and blogs to understand product features, question the authenticity of five-star marketplace reviews, and compare dozens of products before zeroing in on one. Agents powered by AI are trained to do it all for you.  As ecommerce entered the age of agentic commerce, Ranjith Boyanapalli took the plunge, with his Flash AI last September. The former Flipkart executive launched it as an AI-powered shopping assistant that helps in personalised product discovery and research.  Bengaluru-based Flash had earlier raised $12.5 Mn across two rounds. The company’s cap table features the likes of Blume Ventures and PeerCapital as well as high-profile angel investors such as Binny Bansal, Lalit Keshre, and Kunal Shah. Its earlier avatar – a centralised inbox for power shoppers – was entirely different from the latest flagship AI venture. The market opportunity for AI-powered ecommerce is huge. Agentic commerce has the potential to contribute $3-5 Tn in revenue to the global B2C retail market, as 64% Indian consumers reportedly use AI tools in their purchase journey, beating the stats of many other countries. Boyanapalli designed his Flash AI not for closing a transaction, but for the pre-purchase stage, when the…  ​Read MoreInc42 Media