Profound’s Moat Problem, ET Now Acquires OpiGo, and Elevation Capital Offloads

Profound is being built by two experienced operators who have spent years inside some of India’s largest consumer internet companies. Anuj Rathi has worked at Flipkart, Swiggy, Jupiter and Cleartrip, while Prashant Parashar has led technology teams at Zomato, Ola, Snapdeal and Delhivery. Their network has helped attract an unusually strong group of angel investors, including Sriharsha Majety, Nandan Reddy, Pankaj Chaddah, Harshil Mathur, Kunal Shah and Bhuvan Gupta. That gives the company credibility, access to early users and a useful entry into India’s startup talent market.

The business itself still needs to prove much more.

Profound asks users to spend around 30 minutes speaking to an AI system. It then creates an “AI Rep” that understands their experience, working style and career goals, and uses that information to suggest jobs, introductions and professional connections.

The idea addresses a real weakness in resumes and LinkedIn profiles. Job titles and skill lists say little about judgment, ambition or how someone works with others. A detailed conversation can capture more context than a form.

But it still captures what people say about themselves. That is not the same as knowing how well they perform. Unless Profound can verify claims through references, work samples, employment history and actual outcomes, it may end up creating a more detailed and better-written resume rather than a better professional identity.

The technology is also unlikely to remain special for long. Voice conversations, memory and personal agents are already becoming standard features in products from the large AI companies. LinkedIn and Naukri already own the professional profiles, job listings, recruiters and daily user behaviour that Profound will need to build from scratch.

LinkedIn has more than 1.3 billion members. Naukri has over 118 million candidate profiles and thousands of enterprise recruitment customers. Both can add similar AI features without asking users to create another profile on a new platform.

There is also a conflict inside the product. A professional’s AI Rep is supposed to represent that person favourably. An employer’s AI Rep is supposed to judge candidates objectively. Profound will eventually have to decide whether it is acting as an agent, a neutral matching platform or a recruitment marketplace.

Money could complicate this further. Employers are the obvious paying customers, but if they fund the platform, professionals may reasonably ask whose interests their representative is serving.

Profound’s founders and investors give it an excellent start. Its real advantage, however, will not come from the 30-minute conversation. It will come from building a trusted professional network with verified information and useful introductions.

Without that network, the AI Rep is a feature that LinkedIn, Naukri or a large AI company can copy.

Let’s go through what else is happening in Indian startup world - Grab your simmering cup of StartupChai.in and unwind with our hand-brewed memes.

“Sapne Dekhe Bade Bade”: OfBusiness Set To File DRHP For $800 Mn IPO By Mid-November

OfBusiness is gearing up to file its DRHP by mid-November as it revives plans for an IPO worth up to $800 Mn.

The IPO could include a fresh issue of up to $260 Mn, with the rest as OFS by existing investors.

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“Miliye Maharathiyo Se”: Meet The 20 Startups Selected For Google Play Accelerator India

Google has selected 20 Indian startups for the 2026 cohort of its Google Play Accelerator India program.

The three-month, equity-free initiative will offer mentorship on AI, app quality, security, growth and monetization. Launched in 2024, the accelerator is now entering its third batch.

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“Waqt Rehte Nikal Lo”: Elevation Capital Offloads Paytm Shares Worth ₹2,038 Cr

Elevation Capital has sold Paytm shares worth ₹2,038 Cr through two entities at ₹1,367.8 apiece. The move comes amid a rally in Paytm's stock following its strong Q1 performance.

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“Apni Toh Aise Taise”: Elevation Capital, Peak XV Partners Sell Meesho Stock Worth ₹1,949 Cr

Elevation Capital and Peak XV Partners have sold Meesho shares worth ₹1,949 Cr in a series of block deals.

Global investors such as ADIA, Fidelity, Morgan Stanley and Goldman Sachs picked up the stake at ₹186 per share.

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“Get Back To Where You Belong”: Cars24, DPIIT Partner to Support AI and Mobility Startups

Cars24 has partnered with DPIIT to support startups working in AI, mobility and road-safety innovation.

The collaboration will offer founders access to mentorship, skilling programmes and investment opportunities.

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“Aao Twist Karein”: SAP Labs India Hosts Startup Social 2026

SAP Labs India hosted Startup Social 2026, bringing together a new cohort of startups building across AI, robotics, energy and cybersecurity.

The program features ventures such as ANSCER Robotics, Drishya AI, QNu Labs and Pulse Energy.

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“Purana Saal Naya Maal”: BLUE launches AI-native Video Infrastructure Platform

Bengaluru-based startup BLUE has launched an AI-native video infrastructure platform powered by a semantic codec that understands video content.

The technology can reduce bandwidth usage by up to 90% and slash storage costs by as much as 10x.

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“Tumpe Dil Aagya”: ET Now Acquires OpiGo To Expand Its Investment Platform

ET NOW has acquired fintech startup OpiGo to strengthen its push into investor-focused financial services.

The deal will help ET NOW Pro offer trade ideas, market insights and premium financial content under one platform.

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“Shopping Mein AI Ka Tadka”: Reliance Retail Acquires Fashion Discovery Platform Furrl

Reliance Retail Ventures has acquired Bengaluru-based fashion discovery startup Furrl in an all-cash deal for an undisclosed amount.

Furrl’s team, app and proprietary AI styling platform will be integrated into Reliance Retail’s digital commerce offerings.

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1. River Mobility has raised $120 Mn in Series C equity and venture debt led by Elev8 Venture Partners and Claypond Capital. The EV maker will expand capacity, set up a new plant and launch new products.
   Read more here

2. Gurugram-based AI concierge startup Hulp has raised $2.6 Mn in a seed round led by Sparrow Capital and BITKRAFT Ventures.

   Read more here

3. InRisk Labs has raised $27 Mn in a Series A round as its subsidiary EarthRe secured an IFSCA reinsurance license.

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4. Lighthouse Canton has closed a ₹105 Cr private credit investment in Emerald Leisures through its India-focused credit fund.

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5. Deep-tech energy startup Adiabatic Technologies has raised ₹8.3 Cr in a seed round co-led by Malpani Ventures and Avinya Ventures.

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6. C2C marketplace Vingo has raised ₹10 Cr in a seed round led by IndiaQuotient, with participation from Inuka Capital and Credgenics founder Rishabh Goel.

   Read more here

7. Defense-tech startup Zoppler Systems has raised ₹6.5 Cr in a funding round led by Finvolve, with participation from India Accelerator.

   Read more here