Startup news and updates: daily roundup (August 4, 2026)

Former Swiggy and Zomato executives Anuj Rathi and Prashant Parashar have launched Profound, an AI startup based in Bengaluru, and secured $1.5 million in seed funding. The round included participation from notable figures such as Swiggy CEO Sriharsha Majety, Swiggy co-founder Nandan Reddy, former Zomato co-founder Pankaj Chaddah, Razorpay CEO Harshil Mathur, WhatsApp Global Head Kunal Shah, and OfBusiness co-founder Bhuvan Gupta.

The startup plans to utilize the funds to expand its team, enhance its AI capabilities, and develop its matching and introductions engine. Meanwhile, gaming and sports media company Nazara Technologies reported a net loss of Rs 82.47 crore for Q1 FY27, driven by a share of loss from associates and impairment loss related to its remaining investments in real-money gaming businesses.

Despite the decline, revenue from operations grew 9% year-on-year when excluding the impact of the deconsolidation of NODWIN Gaming.

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