Inc42’s AI Summit 2026, Gig Economy’s Safety Gap & More

What’s In Store For India’s AI Realm?

As India’s top startup executives descended upon Bengaluru to attend the Inc42 AI Summit 2026, a stark paradox emerged. The country may be racing toward a $126 Bn AI market by 2030, it is still constrained by capital, talent and infrastructure gaps. 

India’s AI Ceiling: InMobi’s Mohit Saxena set the tone by arguing that India is still far behind the US and China because the country lacks the same depth of capital, chip access and long-term ecosystem patience. His point: India is still mostly a consumer of global tech rather than a builder of core infrastructure.

The Distribution Moat: Rahul Chari of PhonePe pushed the conversation in a different direction, saying that the lower entry barriers due to AI makes distribution and data more valuable than ever. In his view, the next few years will see engineers evolve from coders into architects who think about systems, hardware and design.

The AI Workforce: The summit also put the spotlight on how AI is reshaping startup structures. Ride-hailing giant Rapido revealed that two-thirds of its code is now AI-generated, compressing software production cycles to a single week, while fintech platform S45 only hires humans when AI cannot do the job.

Voice, Code & Growth: At Inc42 AI Summit 2026, Zepto and ElevenLabs also pointed to two sides of the AI shift: faster execution on the operator side and richer customer interaction on the consumer side. Zepto is using the technology to accelerate experimentation, while ElevenLabs is helping brands convert voice and intent to reduce friction and improve resolution.

What Investors Fund? The funding conversation was equally revealing. Rukam Capital’s Archana Jahagirdar and Ashwin Raguraman of Bharat Innovation Fund said that investors are increasingly looking past AI buzzwords and asking tougher questions about adoption, margins, compute costs and real customer usage. 

All said and done, the bigger takeaway from the summit was no longer whether AI matters, but teams that can actually turn leverage AI into a durable business advantage.

From The Editor’s Desk

Indian Gig Economy’s Safety Chasm

• Over the past few months, multiple complaints involving gig workers associated with platforms have surfaced online, triggering outrage and raising concerns over safety of users.
• While platforms are quick to remove erring gig workers when such incidents come to light, gig worker unions argue that platforms themselves cannot escape accountability for gaps in verification, onboarding and enforcement.
• But beyond platform policies and operational challenges, legal experts argue the larger issue is the absence of a clear regulatory framework governing accountability in India’s gig economy.

TBO Tek’s Flat Q4 Show

• The B2B travel tech company’s consolidated net profit rose a mere 2% YoY to ₹60.1 Cr in Q4 FY26 despite operating revenue zooming 83% YoY to ₹814.4 Cr and adjusted EBITDA improving 40% YoY to ₹111 Cr in the quarter under review.
• What played the spoilsport was total expenses surging 88% YoY to ₹753.5 Cr and the looming geopolitical and macro headwinds.
• For the full FY26, consolidated net profit rose 6.3% YoY to ₹244.3 Cr, while the top line rose 54% YoY to ₹2,677.4 Cr.

C2i Closes Series A At $16.7 Mn

• The semiconductor startup has raised fresh capital from existing backer TDK Ventures to finally close its Series A round at about ₹160.5 Cr. In February, C2i had raised around ₹136 Cr in the round led by Peak XV Partners.
• Alongside, the semiconductor startup also announced the tape-out of its smart power stage chip for AI infrastructure. The chip, which has been designed completely in India, marks a key milestone in developing complex products for AI computing workloads.
• Founded in 2024, C2i Semiconductors is building power management solutions for AI data centres. It claims that its configurable, platform-based power architectures enable higher power density and faster deployment. It had last raised $4 Mn in 2024.

PhonePe Continues UPI Dominance

• The IPO-bound digital payments giant continued to lead the UPI market in April, processing 1,033 Cr transactions worth ₹14.31 Lakh Cr during the month. In terms of transaction volume, its market share rose to 47.07% from 46.70% in March.
• Meanwhile, Google Pay and Paytm processed 735.9 Cr and 177.8 Cr transactions in April, respectively. Google Pay’s market share rose marginally to 33.54% from 33.51% in March, while Paytm saw a slight uptick to 8.10% from 7.87% in the previous month.
• Together, PhonePe and Google Pay processed more than 80% of all UPI transactions in April, further tightening their grip on the market.

Zomato Bets On Clean Eating

• Eternal’s food delivery arm has launched a new feature called “Healthy Subscriptions”, which enables users to pre-plan healthy meals from partner restaurants. The feature lets users curate lunch and dinner meal plans for durations of 3, 5, or 15 days. 
• The feature, launched under Zomato’s Healthy Mode,  is currently live in Delhi NCR, Mumbai and Bengaluru, with plans to expand to more cities in the coming months.
• With the latest launch, Zomato is vying to capture a big slice of the country’s healthy food and beverage market, projected to cross $25 Bn by 2030.

Inc42 Markets

Inc42 Startup Spotlight

How CLUIX Is Bringing Water Testing To The Last Mile

Safe drinking water remains hard to verify in India’s remote areas, where testing is often slow, costly and dependent on lab access. CLUIX is tackling this gap with its portable hardware that can test water quality on the spot and send results into a real-time monitoring system.

Built For Field Testing: Founded in 2023, CLUIX is developing portable, hardware-led solutions for India’s water purifier and testing market. The startup sits at the intersection of water infrastructure, diagnostics and environmental monitoring, aiming to make water testing practical beyond the lab.

Instant Water Intelligence: CLUIX’s flagship digital water quality analyser can test drinking water across more than 12 key parameters, including pH, turbidity, nitrate, fluoride and residual chlorine. The device is designed to deliver lab-grade accuracy in the field, while also geo-tagging every reading and pushing data to a central dashboard for real-time oversight.

Designed For Remote Use: The startup’s device works without internet connectivity and can last 10 to 15 days on a single charge, which makes it suitable for last-mile deployments. The platform also supports testing for arsenic and microbiological contaminants through its software-led system, widening its utility in high-risk water zones.

Eye On Global Markets: The startup claims to be already running pilots across multiple Indian states and is now expanding to Europe, Africa and Southeast Asia. With the homegrown water purifier and testing market projected to reach $7.72 Bn by 2032, can CLUIX become India’s portable water testing layer?

Infographic Of The Day

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