Explore the latest news, in-depth reports, and executive analysis tagged with #Upi.
Singh brings nearly 29 years of experience in the banking sector, having held senior leadership positions at ICICI Bank in India and the UK, as well as SBI UK.
Seafund and other investors also participated in the round.
NPCI's November 11 circular links a new small merchant incentive scheme to UPI MDR implementation, signalling that the rollout could be close.
Sreedharan brings over 30 years of experience in the technology industry.
The round also saw participation from Aranya Holdings and Naandi Ventures, while existing investors AUM Ventures and Shakti VC also invested in the startup.
The company plans to use the fresh capital to expand its global presence and increase the deployment of its autonomous logistics solutions across healthcare and industrial facilities.
The service will be available to users across India, including those who are not existing Fibe customers.
The round also saw participation from existing investors, including Peak XV Partners, Accel, Blume Ventures, Kae Capital, 8i Ventures and DeVC.
The investigation follows claims by a hacking group called ScarlettGroup that it had breached the lender's records and threatened to release the allegedly compromised information.
The company has also received Rs 53.75 lakh in grants from SIPCOT, MeitY Startup Hub, NIDHI PRAYAS, IIT Madras Research Park’s RTBI programme and Cummins CSR.
The startup also announced a joint venture with Japan-listed Globalway Inc. to expand into Japan’s enterprise market.
The investment was made through a combination of primary share issuance and a secondary purchase from existing investors.
The round also saw participation from Equirus InnovateX Fund and angel investors.
The startup will use the fresh capital to expand its global team of AI specialists and engineers, invest in proprietary technology and AI-native delivery capabilities, among others.
Total expenses of the fintech startup grew 130% to Rs 557 crore in FY26 from Rs 242 crore in FY25.
The round also included participation from IPV, LetsVenture, Launch Capital, AVNM Ventures and Navyug Global Ventures.
Prior to this funding round, RevRag AI had secured $600,000 in a pre-seed round led by Powerhouse Ventures in August 2024.
Digital gold purchases value via UPI increased to Rs 2,585.35 crore in September from Rs 2,488.52 crore in August.
The UPI MDR rollout, which was announced from October 15, will be implemented post Diwali.
![UPI MDR Delay: PhonePe meets govt officials; NPCI Steering Committee Meeting cancelled today [Exclusive]](/upload/theheadandtale.com/2026/10/1791547094_aa1c7337de_upi_2.jpg)
With NPCI also holding meetings with government departments, uncertainty over the October 15 rollout continues, sources say.
