#Ian

As AI reshapes payments, security needs the industry in the room

PhonePe wins PoS terminal contract from IOCL, but at what cost?

PhonePe has emerged as the lowest bidder, but the economics behind the mandate raise questions about how much the company is willing to pay for growth.

SAVE Microfinance raises Rs 30 crore from State Bank of India

With the latest funding, the microfinance institution has raised Rs 70 crore in total funding during the current financial year ending on March 31, 2027.

Bank of America picks 49.9% stake in Jio Credit for $1.9 billion

BofA and Jio Financial Services have entered into a JV deal under which the US banking major will pick up shares through a preferential issue and warrants.

The Fine Print Behind the UPI MDR Debate

This video captures the economics, the loopholes, who actually wins if MDR returns, and why the government might be playing a longer game than just UPI.

Atomberg-backer Inflexor Ventures marks first close of third fund at Rs 400 crore

The fund is anchored by Self-Reliant India Fund, HDFC Asset Management Company, and HDFC AMC Select AIF FoF.

Money & Machines: (UPI) Zero for Whom?; The Sovereign AI Dilemma

In this edition, we revisit the longest-running payments debate i.e. UPI MDR; and we explore what happens when sovereign AI, venture capital and national interest collide.

Dailoqa hires former Microsoft India BFSI country head Sonali Kulkarni as partner

Prior to Microsoft, Kulkarni spent over a decade at Accenture and has previously held senior positions at EY and GE Capital.

India working on tighter regulations for VPN providers

The proposed framework could require VPN companies to establish a local presence in India, appoint compliance officers and designate officials to coordinate with government agencies.

Indian govt asks WhatsApp to pause username feature rollout over fraud concerns

The development comes just a week after Meta announced a nearly $900 million investment in Indian fintech startup CRED and appointed its founder, Kunal Shah, as the new global head of WhatsApp.

ED alleges fake invoices, hawala links in Pay10 money laundering probe

ED seized cash, bullion, incriminating documents, froze four luxury vehicles; and identifies Dubai-based Grenadian national as Pay10's alleged ultimate beneficial owner.

ANSCER Robotics bags Series A funding led by IAN Alpha Fund

The funding round also saw participation from Info Edge and other angel investors.

OpenAI and Infosys partner to scale AI across enterprises

OpenAI has partnered with other Indian IT firms, including HCLTech and TCS, while Infosys has a separate collaboration with Anthropic.

Apple names John Ternus CEO as Tim Cook becomes executive chairman

Ternus takes over at a moment when Apple is under increasing pressure to define its position in the AI race.

Google rolls out Gemini's Personal Intelligence feature in India

Currently, the feature is available to AI Pro and AI Ultra subscribers in India.

InsideFPV executes Rs 10 crore defence contract to supply indigenous drones

The order, which was primarily driven by the Indian Ministry of Defence under the Emergency Procurement Route, was completed in just two months.

Rymo Technologies raises seed funding from IAN Group

The robotic rehabilitation systems maker will use the fresh capital for product innovation, expansion of manufacturing capabilities, and to grow its presence within India and internationally.

Replit raises $400 million in Series D funding led by Georgian

The funding round saw contribution from investors including G Squared, Prysm Capital, Coatue, Andreessen Horowitz (a16z), Craft Ventures, Y Combinator, Accenture Ventures, Okta Ventures and Databricks Ventures.

Reliance plans to invest $110 billion to build India's AI infra

Other Indian conglomerates also announced plans to develop data centres in India earlier this week.

Reliance's startup moment; Amazon, Flipkart's NBFC play

Sept 5th Edition: We track Mukesh Ambani’s entry into a novel business that even big tech businesses are trying to make sense of; and the country’s top marketplaces’ credit bet.