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PhonePe said the partnership builds on its Visa device tokenisation offering launched in February 2025.
The latest transaction comes weeks after NewQuest sold 1.25 crore Shadowfax shares for around Rs 300.6 crore in August at Rs 240.46 per share.
Innoviti's net loss narrowed by 57% to Rs 26.7 crore in FY26 from Rs 62.1 crore in the previous fiscal.
The shares were acquired by a range of institutional investors, including Societe Generale - ODI and Motilal Oswal Large and Midcap Fund.
Karthik brings more than 25 years of experience spanning operations, technology, analytics, and risk management.
The latest deal comes days after another large block transaction on August 28, when nearly 2.95 crore Lenskart shares worth Rs 1,857 crore changed hands at Rs 630 apiece.
The service will be available on select devices from Nokia, HMD, Lava International, and Itel Mobile, with more handset partnerships expected in the coming months.
The latest sale marks Ribbit Capital’s second major share sale in Groww this year.
The round also saw participation from Antler Elevate, Antler India, Manish Gandhi and Shastra VC.
The funding round also saw participation from existing investors Arkam Ventures and Capital 2B.
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.
The funding round saw participation from DoorDash, Lachy Groom, Lightspeed and Humba Ventures.
The acquisition comes just months after C2i Semiconductors raised Series A funding led by venture capital firm Peak XV Partners.
The appointments have been approved by the company’s board, and the Reserve Bank of India (RBI) has also cleared Samir Sawhney’s appointment as Executive Director.
PhonePe PulsePro metrics will be integrated into the PM GatiShakti National Master Plan portal.
The round also saw participation from existing investors Notable Capital, NEA, Neo Ventures and 8VC, along with new investors Acrew, Forerunner, Goodwater and Peak XV.
The transaction marks Y Combinator’s second significant share sale in Groww this year after the six-month lock-in period for investors ended following the startup's listing late last year.
OpenAI said that GPT-5 has made significant advances in reducing hallucinations, improving instruction following, and minimizing sycophancy.
Flipkart Group’s UPI app super.money also witnessed surge in its number of transactions in October to 50 million.
