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OpenAI initiates process for IPO
OpenAI, the maker of ChatGPT, has formally kicked off the process for an initial public offering (IPO) by confidentially filing a draft S-1 registration statement with the US Securities and Exchange Commission (SEC).
The confidential filing enables the AI giant to undergo regulatory review while keeping key financial information and strategic details out of public view during the early stages of the listing process.
The move comes just a week after rival Anthropic also submitted a confidential S-1 filing. With a valuation approaching $1 trillion, Anthropic is widely seen as leading the race among AI companies to reach the public markets.
Zepto files updated IPO papers
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Quick-commerce unicorn Zepto has filed its updated draft red herring prospectus, seeking to raise Rs 8,010 crore through a combination of a fresh issue of shares and an offer for sale of 113.47 million shares by existing investors.
The IPO is among the most anticipated public listings in India’s startup ecosystem, coming at a time when Zepto is locked in an intense battle with Blinkit, owned by Eternal, and Swiggy’s Instamart for dominance in the fast-growing quick-commerce market.
The shareholders selling in the planned IPO will be Nexus Venture Partners, Contrary ZEP Holdings, Razor Ventures Zepto, Kaiser Foundation Hospitals, and Kaiser Permanente Group Trust.
Funding news
The Wedding Company raises $2.75M in seed round
TheWedding Company, the Bengaluru headquartered tech-driven wedding planning and fulfilment platform, has raised $2.75 million in a seed funding round led by Wellingdon Advisors with participation from LVX, Tremis Capital and angel investor Vivek Mathur (Elevation Capital ex-Partner), Rahul Garg (Premji Invest Senior ex-Partner) and Apurva Patel, Synergy Capital Partners.
The capital will be deployed to strengthen the company’s wedding services catalogue, build a robust category management function, and expand its vendor partner network to standardise service delivery at scale.
Other news
iD Fresh Food launches AI-led campaign
Fresh food brand iD Fresh Food has launched an AI-powered campaign in Telangana to spotlight the importance of hygiene, trust, and food safety in the batter category.
What sets the campaign apart is its extensive use of artificial intelligence: every visual, including the settings, scenarios, and narrative imagery, has been generated using AI, says the company. The technology enables iD Fresh Food to vividly depict the often-unseen differences in hygiene standards during batter preparation, making a critical but largely invisible aspect of food production more accessible to consumers.
Through the campaign, the company aims to encourage consumers to look beyond freshness and consider hygiene as a key factor in building trust and ensuring food safety.
Venture Catalysts++ makes 3.4x return through partial exit from Rentomojo
Venture Catalysts++, an early-stage VC firm, has exited partially from Rentomojo, a rental platform for furniture and appliances with a 3.4x return on the invested capital. The VC firm first invested in Rentomojo in 2019. Its latest gains are through a secondary transaction.
According to a statement, Rentomojo has evolved into a category leader, building a scalable, subscription-led business model anchored in recurring revenue, improving unit economics, and disciplined operations. The company says it has expanded across key metropolitan markets, strengthening its position within the furniture and appliance rental ecosystem.
Flipkart Group partners with Meta to expand creator-led commerce in India
Flipkart Group, India’s homegrown ecommerce marketplace, through Flipkart and Myntra, has joined as a Meta affiliate partner to scale creator-led commerce in India by making product discovery and shopping more seamless for customers.
The partnership enables creators to discover and tag products from Flipkart and Myntra directly in their posts and Reels via affiliate integrations, making it easier for consumers to shop seamlessly. The partnership launches on Facebook, with Instagram as the next phase of a planned rollout across Meta’s platforms.
For shoppers, the experience works like this: they see a product in a creator’s post or Reel, tap the product tag, and complete the purchase on Flipkart or Myntra.
For creators, it provides a structured way to turn recommendations into income by earning commissions on sales generated by their posts. For brands and sellers, it opens a new route to reach high-intent audiences through more contextual, authentic, and culturally relevant content, the company said.
TechnoSport launches TechnoSport Express
Activewear brand TechnoSport has unveiled TechnoSport Express, a new retail format designed to accelerate its offline expansion and deepen its presence in India’s rapidly growing non-metro markets.
As part of its expansion plans, the company aims to open 25 TechnoSport Express stores by the end of FY27, in addition to its target of operating around 130 exclusive brand outlets by the close of the current fiscal year.
Built on a smaller-format, asset-light model, TechnoSport Express is intended to enable faster market entry and broader geographic reach. The initiative marks a key step in the brand’s retail strategy, allowing it to expand beyond major cities into smaller towns and district centres, where demand for branded activewear and improved shopping experiences continues to rise.
AirBrick appoints Gaurav Bansal as COO
AirBrick Infra has appointed Gaurav Bansal as chief operating officer (COO), India.
According to a press statement, this appointment is a defining step in fortifying AirBrick’s operational leadership as the company accelerates its technology-driven expansion across India and global markets, building on an unmatched track record of delivering enterprise-grade commercial spaces at scale.
Before joining AirBrick, he served as the business head of 91Squarefeet, where he led India operations and drove significant business expansion.
He previously held the position of business head at Flipspaces, spearheading Vizstore – a SaaS marketplace platform for retailers and scaling B2B transactions across India.
IIT-Madras to showcase at Bharat Innoves 2026
The Indian Institute of Technology Madras (IIT Madras) will showcase a range of deeptech innovations, startups, and strategic research initiatives at Bharat Innovates 2026, an international technology exhibition being organised by the Ministry of Education in Nice, France, from June 14-16.
IIT Madras will lead two of the 13 thematic areas at the event and present 15 startups incubated at the institute. Its showcase will also feature five flagship research projects spanning Hyperloop technology, 5G and 6G communications, port automation, lab-grown diamonds, and a domain-specific low-compute indigenous AI ecosystem.
(This article will be updated with the latest news throughout the day.)
