wayr today India

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  • 91trucks Expands Digital Commercial Vehicle Ecosystem with Motorfloor and Trucksfloor Acquisition

    This article was generated by AI and cites original sources.

    Commercial vehicle platform 91trucks has acquired Motorfloor and Trucksfloor, two mobility-focused platforms operated by Bhubaneswar-based Indiyanet. This acquisition aims to strengthen the digital commercial vehicles ecosystem.

    Subrat Kar, the founder of Indiyanet, expressed enthusiasm about the partnership, stating, “With this next phase, we are excited to partner with 91trucks to scale our vision further. Trucksfloor and Motorfloor are now part of 91trucks.” This collaboration is expected to enhance the overall experience for both buyers and sellers of commercial vehicles, as it allows the companies to leverage their strengths, expand their reach, and create a more robust platform for India’s commercial vehicle ecosystem.

    Founded in 2022, Gurugram-based 91trucks provides comprehensive information, reviews, and listings for trucks, buses, and three-wheelers. Additionally, the company offers dealer connections and financing support, aiming to build a full-stack platform covering various services from discovery to ownership for commercial vehicles.

    In a Series A funding round in May 2025, 91trucks secured around $5 million, with leading investments from Arkam Ventures, Titan Capital, Sparrow Capital, and Atrium Angels, valuing the company at approximately $33 million.

    Indiyanet, founded in 2024 by Subrat Kar, operates Motorfloor and Trucksfloor, platforms that assist users in exploring and evaluating commercial vehicles based on specifications, features, images, and on-road prices. The company claims a strong market presence, ranking among the top three platforms in India by traffic and volume within its category.

    Prior to Indiyanet, Subrat Kar’s entrepreneurial journey included founding Vidooly, a video analytics startup acquired by Good Glamm Group in 2022. Vidooly had previously received funding from notable investors such as Alibaba, Times Internet, Bessemer Venture Partners, and Gujarat Venture Finance.

    Source: Entrackr : Latest Posts

  • Cred Enhances Security with Biometric Authentication for UPI Payments

    This article was generated by AI and cites original sources.

    Fintech platform Cred has introduced a new feature that enables users to authorize UPI payments up to Rs 5,000 using facial recognition or fingerprint technology. This initiative, developed in collaboration with NPCI, is now accessible on both iOS and Android devices, enhancing security measures for various transactions such as settling credit card bills, making utility payments, engaging in merchant transactions, and conducting peer-to-peer transfers.

    Biometric authentication represents a significant step towards improving the security and convenience of digital payments, aligning with the ongoing industry trend of leveraging advanced technologies to safeguard financial transactions. By integrating biometric verification, Cred aims to streamline the payment process and offer users a secure and seamless experience while managing their financial transactions.

    This development underscores the continuous evolution of payment technologies, highlighting the importance of incorporating robust security measures to protect users’ sensitive financial information. As biometric authentication gains traction in the fintech sector, users can look forward to a more secure and efficient payment ecosystem.

    Source: Tech-Economic Times

  • Kiwi Appoints Seasoned Payments Veteran Sumeet Basrani as Chief Business Officer to Expand Credit Access on UPI

    This article was generated by AI and cites original sources.

    Fintech startup Kiwi has strategically appointed Sumeet Basrani as Chief Business Officer to bolster its leadership team. This move signifies Kiwi’s focus on broadening the distribution of credit on UPI through strategic bank and ecosystem collaborations.

    Sumeet Basrani brings over 15 years of experience in the cards and payments sector, having previously held key roles at organizations like CRED, OneCard, ICICI Bank, and Visa. His contributions at CRED involved spearheading partnerships in credit cards, payments, and lending with various financial institutions.

    Kiwi’s upcoming phase is dedicated to facilitating credit access on UPI for a vast number of Indian users. The company’s strategic roadmap focuses on scaling up market presence while adapting to evolving consumer preferences.

    Sumeet Basrani emphasized the current momentum in early adoption of credit on UPI and the potential of seamlessly integrating credit into daily transactions to enhance accessibility.

    Founded in 2022 by Siddharth Mehta, Mohit Bedi, and Anup Agrawal, Kiwi offers users the convenience of accessing RuPay credit cards on UPI, blending credit flexibility with UPI’s extensive merchant network.

    In a notable development, Kiwi secured $24 million in its Series B funding round from Vertex Ventures last year, reaching a valuation exceeding $100 million.

    Source: Entrackr : Latest Posts

  • Canvaloop Secures $1.5 Million to Develop Eco-Friendly Textile Fibers from Agricultural Waste

    This article was generated by AI and cites original sources.

    Canvaloop, a biomaterials startup, has secured $1.5 million in funding from Gujarat Venture Finance Limited (GVFL) and Rockstud Capital. The company, founded in 2020 by Shreyans Kokra, specializes in transforming agricultural waste like pineapple, banana, and hemp into eco-friendly textile-grade fibers using a unique closed-loop technology. This proprietary process minimizes water and chemical usage, making it a sustainable solution for the textile industry.

    The investment will enable Canvaloop to expand its production capacity, enhance supply chain efficiency, shorten delivery times, and further develop its alternative fiber platform. The Surat-based startup’s focus on natural feedstocks such as hemp, flax, and crop residues highlights its commitment to creating scalable and environmentally friendly material alternatives.

    With plans to invest in next-generation material innovation, including regenerative fibers, Canvaloop aims to drive the textile industry towards more sustainable and resilient value chains. By leveraging innovative technologies, the company is positioned to contribute to the sector’s transition towards eco-conscious textile production.

    Source: Entrackr : Latest Posts

  • Elon Musk Pauses X’s Region-Based Payout Strategy Amid Creator Backlash

    This article was generated by AI and cites original sources.

    Elon Musk has decided to pause a new revenue-sharing policy for X following criticism from content creators. The policy, introduced by X’s Head of Product Nikita Bier, aimed to prioritize impressions from creators’ home regions. However, many creators expressed concerns that a significant portion of their audience comes from other countries.

    In response to the backlash, Musk announced the suspension of the policy, stating, ‘We will pause moving forward with this until further consideration.’ The initial goal of the policy revision was to incentivize content that resonates locally and build a more diverse community on X.

    Concerns arose that the policy might inadvertently stifle global content diversity, particularly beyond political discussions. Musk acknowledged these concerns, emphasizing the need for a more comprehensive approach to the platform’s revenue-sharing strategy.

    Nikita Bier, a key figure in X’s product leadership, has a background in developing popular apps like tbh and Gas. His tenure at X has been marked by efforts to enhance user engagement and content quality.

    Source: mint – technology

  • Fino Payments Bank Sees Stock Surge on Strong Referral Lending Growth

    This article was generated by AI and cites original sources.

    Shares of Fino Payments Bank experienced a significant surge, hitting the upper circuit today after a period of decline. The boost followed the bank’s announcement of robust growth in its referral lending business during the ongoing fourth quarter of FY26. Fino reported disbursements reaching ₹540 Cr this quarter, with expectations to reach ₹630 Cr by quarter-end, representing 90% of the total disbursed in the previous nine months.

    The surge in stock value, with shares locked at a 9.99% upper circuit, reflects market optimism about Fino’s performance. The bank highlighted an increased demand for its referral lending services, particularly in rural and semi-urban areas, attributed to its merchant network and partnerships with NBFCs enhancing credit access.

    Fino Payments Bank’s lending portfolio encompasses various secured products like home loans, gold loans, loans against property, and business loans for merchants. Noteworthy is the bank’s achievement of its highest-ever deposit balance, indicating positive business momentum.

    The recent rally in stock price contrasts with a previous downward trend, as shares had hit an all-time low before this resurgence. Despite challenges, Fino’s focus on expanding lending operations and strengthening market presence seems to resonate with investors.

    Source: Inc42 Media

  • Kiran Mani Appointed as OpenAI’s Managing Director for Asia Pacific

    This article was generated by AI and cites original sources.

    Kiran Mani, former CEO of Digital at JioStar, has taken on a new role as the Managing Director for Asia Pacific at OpenAI. This strategic move positions Mani to lead regional operations and strategy out of Singapore, highlighting OpenAI’s commitment to the growing AI market in the region. Notably, India stands as the second-largest user base for OpenAI globally, underscoring the significance of this appointment.

    Source: Tech-Economic Times

  • NHRC Investigates Alleged DPDP Act Violations in Tech Platforms

    This article was generated by AI and cites original sources.

    The National Human Rights Commission (NHRC) has initiated an investigation into reported breaches of the Digital Personal Data Protection Act (DPDP Act) within major tech platforms. The inquiry focuses on the inadequate measures for monitoring children’s data transfers and the lack of effective grievance redressal mechanisms.

    This move by the NHRC highlights the growing concerns surrounding data privacy and protection in the digital landscape. The DPDP Act, aimed at safeguarding personal data, faces challenges in its enforcement, particularly in ensuring the secure handling of children’s information.

    With AI, social media, and edtech platforms under scrutiny, the tech industry must enhance data protection measures and compliance with regulatory frameworks. The absence of robust mechanisms for overseeing data flows, especially involving minors, underscores the pressing need for stringent data privacy practices.

    As the NHRC delves into these alleged violations, the tech community is urged to prioritize data security and transparency in their operations. Compliance with data protection laws is essential not only for regulatory adherence but also to uphold user trust and privacy standards in the digital sphere.

    Source: Tech-Economic Times

  • Chinese Food Delivery Giants Surge as Regulators Call for End to Price War

    This article was generated by AI and cites original sources.

    Chinese food delivery platform Meituan experienced a significant surge in its share price following calls from Chinese state media and regulators to halt a price war within the industry. On Wednesday, Meituan’s stock rose by as much as 12.6% to reach HK$89 per share during afternoon trading.

    This surge comes in response to efforts to stabilize the market after an intense period of aggressive pricing strategies among food delivery giants. With state media and regulators advocating for an end to the price war, investors are closely monitoring how companies like Meituan will adjust their business models to comply with the new directives.

    Meituan’s stock performance reflects investor confidence in the company’s ability to navigate regulatory changes and adapt to a more sustainable pricing strategy. The market reaction highlights the importance of regulatory compliance and market stability in the tech-driven food delivery sector.

    Source: Tech-Economic Times

  • Indian Cricketer Riyan Parag Invests in Proxgy, an IoT Solutions Startup

    This article was generated by AI and cites original sources.

    Indian cricketer and Rajasthan Royals’ captain Riyan Parag has recently invested ₹2 crore in Delhi NCR-based deeptech startup Proxgy, known for its innovative IoT solutions. Parag joins a list of notable investors in the startup, including cricketer Ajinkya Rahane, Zerodha co-founder Nikhil Kamath, and actor Suniel Shetty.

    Founded in 2020 by Pulkit Ahuja, Proxgy specializes in smart wearables and safety products designed to enhance workplace safety and operational efficiency for blue-collar workers. The startup’s technology stack includes industrial IoT hardware, software middleware, and a SaaS subscription layer, catering to clients in sectors like power, fintech, logistics, and banking.

    Proxgy’s core product offerings include the SmartHat for hazard detection, ProHat & Hat+ Band for smart helmets, Lockator for logistics tracking, Sleefe for hands-free communication, AudioPod/AudioCube for 4G-enabled payments, and BirdBox for security surveillance.

    This investment from Parag signifies growing interest from sports and business personalities in deeptech solutions that prioritize safety and productivity in various industries. Proxgy’s collaboration with Maruti Suzuki further showcases its potential for industry partnerships and technological advancements.

    Source: Inc42 Media