wayr today India

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  • Tech Titans Adapt Strategies Amid Market Volatility: PhonePe Delays IPO, Databricks Expands in India

    This article was generated by AI and cites original sources.

    PhonePe, a leading Indian digital payment platform, has decided to postpone its Initial Public Offering (IPO) due to concerns over market volatility linked to the West Asia crisis and valuation issues. This strategic move reflects the tech industry’s adaptability in navigating uncertain economic conditions.

    In contrast, Databricks, a prominent data analytics company, is set to increase its presence in India through enhanced hiring and research and development efforts. Naveen Zutshi, Databricks’ Chief Information Officer, highlighted the significance of India in the company’s growth strategy, underscoring the tech industry’s confidence in the country’s talent pool.

    These developments underscore the dynamic nature of the tech landscape, where companies must carefully consider geopolitical events and market fluctuations to thrive. While PhonePe’s decision to halt its IPO emphasizes the importance of risk management, Databricks’ expansion in India signifies the industry’s commitment to leveraging local resources for global innovation.

    As the tech industry continues to evolve, these strategic moves by leading players showcase the industry’s resilience and adaptability in the face of changing economic scenarios.

    Source: Tech-Economic Times

  • Newtrace Secures $6.3M Funding for Green Hydrogen Technology Development

    This article was generated by AI and cites original sources.

    Green technology startup Newtrace has secured $6.3 million in a pre-Series A funding round led by HDFC Bank and Mitsui Sumitomo Insurance Venture Capital. The investment will support the development of Newtrace’s innovative electrode and electrolyzer technologies for green hydrogen production.

    The funding round also included participation from Peak XV Partners’ Surge, Aavishkaar Capital, Speciale Invest, Micelio Technology Fund, and angel investors Manish Prataprai Gandhi and Renu Manish Gandhi.

    Founded in 2021 by Prasanta Sarkar and Rochan Sinha, Newtrace aims to enhance green hydrogen production with its proprietary Voltagen electrode technology. This technology is designed to improve energy efficiency, extend system lifespan, and reduce hydrogen production costs in alkaline water electrolyzers.

    Newtrace’s Voltagen electrodes are expected to enter initial commercial deliveries within the next year as the company scales pilot manufacturing, validates its technology with customers, and expands its engineering and manufacturing capabilities.

    By offering a drop-in replacement for existing electrodes, Newtrace’s technology provides electrolyzer manufacturers, green hydrogen project developers, and industrial gas companies with a seamless way to enhance performance without the need for system redesigns.

    In the fiscal year ending March 2025, Newtrace reported operating revenue of Rs 1.8 crore, alongside widened losses of Rs 15.6 crore, indicating the company’s focus on technology development and market expansion.

    Source: Entrackr : Latest Posts

  • AquaExchange Secures $8 Million in Series B Funding to Enhance Aquaculture with Technology

    This article was generated by AI and cites original sources.

    Aquaculture technology company AquaExchange has secured $8 million in its Series B funding round, co-led by Endiya Partners and Factor Analytics, with support from Accion Ventures and Ocean 14 Capital.

    The funding will enable AquaExchange to expand its international technology solutions, strengthen its domestic market presence, and fortify its position in the aquaculture value chain.

    Founded by Pavan Kosaraju, Hemasundar Dhavili, Kareem Mohammod, and Kiran Bandi, AquaExchange empowers aquaculture farmers through innovative technology to optimize crop yields, mitigate risks, and manage input costs efficiently.

    The company’s product lineup includes PowerMon, a power management device, and AquaBot, an automated feed management system, aimed at streamlining farming operations. Additionally, AquaExchange facilitates farmers’ access to formal crop loans and working capital, enhancing financial sustainability in the sector.

    AquaExchange’s advanced technologies have automated over 25% of India’s shrimp farming acreage, monitoring 80,000 acres globally. The company operates in five Indian states and international markets such as Ecuador, Saudi Arabia, and Madagascar, showcasing a global impact in revolutionizing aquaculture practices.

    In FY25, AquaExchange reported a significant revenue increase to Rs 240.51 crore, with efforts towards achieving EBITDA profitability in the current fiscal year.

    Source: Entrackr : Latest Posts

  • Invention Engine’s Portfolio Startups Secure $2.5 Million in Funding

    This article was generated by AI and cites original sources.

    Four portfolio startups of Invention Engine, a founder-led accelerator focused on early-stage AI and deep tech companies, have collectively secured approximately $2.5 million in a new funding round.

    The startups that received this investment include Sonic Lamb, Cheerio AI, Desible.ai, and Magicroll. Sonic Lamb, known for its India-designed headphones, raised $1 million to expand its brand globally, particularly in automotive and pro-audio sound applications. Cheerio AI, a no-code AI marketing automation platform, received around $1 million to enhance its customer engagement and retention automation capabilities. Desible.ai, a conversational infrastructure platform for the banking, financial services, and insurance (BFSI) sector, secured $250,000 to develop AI-powered voice agents with multilingual and empathetic features. Magicroll, an AI-powered video editing platform, obtained $100,000 to further improve its content personalization and go-to-market strategies.

    Invention Engine has also introduced the ‘ACE $100k’ cohort, offering $100,000 per startup in patient capital. This initiative aims to support early-stage startups focusing on AI-led innovations, expanding the reach of its investment program in India.

    Source: Entrackr : Latest Posts

  • Coreworks.AI Secures $5M Seed Funding for AI-Powered Data Analytics Platform

    This article was generated by AI and cites original sources.

    Fintech startup Coreworks.AI has secured $5 million in a seed funding round led by Together Fund, as reported by Entrackr. Founded in 2025 by Prashant Kumar and Pavan Sondur, the company introduces AI SuperAnalyst, a platform that streamlines the conversion of business data into comprehensive presentations and reports.

    AI SuperAnalyst integrates with ERP systems, CRM platforms, financial models, and spreadsheets to generate spreadsheet models, written analysis, and slide presentations efficiently. The platform emphasizes security, boasting SOC 2 readiness, end-to-end encryption, and stringent data protection measures to safeguard customer data from AI model training.

    Coreworks.AI’s platform caters to various business needs, from crafting quarterly board decks to preparing operational reports and customer proposal decks, all customizable to match a company’s branding and style templates.

    This funding round signifies a pivotal moment for Coreworks.AI, propelling the development and adoption of AI technologies in data analytics, empowering businesses to leverage data insights effectively.

    Source: Entrackr : Latest Posts

  • RBI Penalizes Cashfree for Payment Aggregator Compliance Failures

    This article was generated by AI and cites original sources.

    The Reserve Bank of India (RBI) has fined Cashfree Payments, a prominent fintech company, ₹3.1 Lakh for failing to adhere to payment aggregator regulations. This penalty was a result of RBI’s inspection into Cashfree’s operations from April 2024 to June 2025, where discrepancies in compliance with payment aggregator and payment gateway guidelines were identified.

    Following the inspection, the RBI issued a show cause notice to Cashfree, prompting the company to justify its actions. Subsequently, the central bank determined that Cashfree had made unauthorized debits from its escrow account, contravening regulatory norms. As a consequence, the RBI levied the monetary penalty on Cashfree on March 9.

    Cashfree, founded in 2015 by Akash Sinha and Reeju Datta, specializes in digital payment solutions such as payment gateway services, payout solutions, and banking APIs. The company serves a diverse clientele, including MakeMyTrip, Zomato, and CRED, and has processed transactions totaling $80 billion annually, claiming to have served over a million businesses since its inception.

    Source: Inc42 Media

  • Defending Against Russian-Backed Hackers Targeting Signal and WhatsApp Accounts

    This article was generated by AI and cites original sources.

    Dutch intelligence agencies have raised concerns about a sophisticated cyber campaign orchestrated by Russian-backed hackers targeting Signal and WhatsApp accounts used by officials and journalists worldwide. The campaign, as reported by mint – technology, involves phishing techniques where hackers impersonate legitimate entities to deceive users into divulging sensitive information like SMS codes or PINs.

    The Ministry of the Interior and Kingdom Relations of the Netherlands highlighted that Dutch government employees and other individuals deemed of interest to the Russian government, including journalists, may be potential targets of this cyber offensive.

    The attackers exploit vulnerabilities within Signal and WhatsApp by posing as a genuine Signal support bot to manipulate users into providing verification codes, ultimately granting unauthorized access to the accounts. By coercing victims to input SMS verification codes or Signal PINs, hackers circumvent security measures, enabling complete control over the compromised accounts.

    Furthermore, the threat actors employ deceptive tactics involving QR codes and malicious links disguised as group chat invitations to infiltrate users’ accounts surreptitiously. Despite the local chat history storage feature on Signal, victims may mistakenly believe their accounts are secure after re-registering, creating a false sense of safety.

    It is crucial for users to remain vigilant against such cyber threats and exercise caution when prompted to disclose sensitive information, especially through unsolicited communications. By staying informed about cybersecurity best practices and scrutinizing unexpected requests for verification codes or personal data, individuals can fortify their defenses against malicious cyber activities.

    Source: mint – technology

  • Ola Electric Seeks Funds to Expand Lithium-Ion Battery Production

    This article was generated by AI and cites original sources.

    Ola Electric, the Bengaluru-based company, is planning to raise Rs 2,000 crore through a stake sale in its subsidiary, Ola Cell Technologies (OCT). OCT currently operates a lithium-ion cell manufacturing plant in Tamil Nadu with a capacity of 1.5 GWh, aiming to scale it up to 6 GWh by the end of the financial year.

    This move by Ola Electric comes amid decreased sales volumes and a decline in market share. The company has faced challenges related to consumer complaints regarding vehicle quality and after-sales service, prompting this strategic shift to focus on strengthening its battery production capabilities.

    By investing in expanding its lithium-ion cell manufacturing capacity, Ola Electric aims to enhance its supply chain efficiency and potentially address some of the quality concerns raised by consumers. This initiative demonstrates the company’s commitment to improving its core technology infrastructure to meet the evolving demands of the electric vehicle market.

    Source: Tech-Economic Times

  • Meta’s AI-Driven Transformation: Balancing Workforce and Technology Investments

    This article was generated by AI and cites original sources.

    Meta Platforms, the parent company of Facebook, saw a 3% rise in its shares following a Reuters report indicating plans to lay off 20% or more of its employees. This strategic move aims to counterbalance the substantial expenses on artificial intelligence and leverage the productivity enhancements driven by this technology.

    Meta’s decision reflects a crucial intersection of technology and corporate strategy. By reallocating resources from human capital to AI development, the company underscores its commitment to harnessing AI’s potential for operational efficiency and innovation.

    The shift towards AI-driven solutions is increasingly prevalent in the tech industry, with companies prioritizing advanced technologies to stay competitive and agile in the market. Meta’s restructuring highlights the ongoing evolution of social media platforms towards AI integration and automation.

    As Meta reevaluates its workforce composition in favor of AI investments, the tech community closely observes how this decision will influence the company’s technological capabilities, product offerings, and overall market positioning.

    Source: Tech-Economic Times

  • Apple Bolsters Video Editing Capabilities with MotionVFX Acquisition

    This article was generated by AI and cites original sources.

    Apple has recently acquired MotionVFX, a Warsaw-based startup known for its high-quality plugins, transitions, motion graphics, and visual effects tailored for professional video editors. MotionVFX specializes in crafting tools for popular editing platforms like Final Cut Pro and DaVinci Resolve, offering a range of editable templates such as mReels, titles, and tracking tools, enabling users to produce cinematic, professional-grade graphics efficiently.

    This acquisition aligns with Apple’s commitment to enhancing its ecosystem for creators, particularly within the Final Cut Pro environment. By integrating MotionVFX’s technologies into its ecosystem, Apple aims to bolster its suite of effects-related products, further solidifying its position in the video editing space. As part of the deal, approximately 70 MotionVFX employees are set to transition to Apple, bringing their expertise to contribute to future developments within Apple’s video editing tools.

    This acquisition underscores Apple’s dedication to empowering content creators with innovative tools and resources. By offering users enhanced creative options and streamlined workflows, Apple is poised to enhance the overall video editing experience for professionals and enthusiasts alike.

    Source: Tech-Economic Times