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Tag: Inc42 Media

  • Mojro Secures $3 Million to Enhance AI-Driven Logistics Platform

    This article was generated by AI and cites original sources.

    B2B SaaS startup Mojro has secured $3 million in funding to bolster its AI-powered logistics platform. The investment, led by IAN Group’s IAN Alpha Fund along with 1Crowd and existing investors, will support Mojro’s expansion into the US and Southeast Asia, platform development, and team growth.

    Founded in 2016, Mojro assists mid to large enterprises in optimizing their supply chains, catering to various sectors like retail, parcel delivery, and courier services. The startup’s AI-driven platform, which employs a usage-based pricing model, leverages operations research, machine learning, and big data to help clients achieve up to 20% savings on logistics costs.

    With a significant portion of revenue coming from international markets such as the US, Malaysia, Singapore, and the Philippines, Mojro stands out in the global logistics planning and optimization domain. The funding will enable Mojro to accelerate its growth in these regions, focusing on innovation to enhance its service offerings.

    Source: Inc42 Media

  • Global Collaboration on AI: 88 Nations and Organizations Sign the New Delhi Declaration

    This article was generated by AI and cites original sources.

    Following the conclusion of the India AI Impact Summit 2026, 88 countries and international organizations have come together to endorse the New Delhi Declaration on artificial intelligence. The declaration, guided by the principle of ‘Sarvajan Hitaya, Sarvajan Sukhaya’, aims to equitably distribute the benefits of AI worldwide. It emphasizes key pillars such as democratizing AI resources, fostering economic growth and social good, ensuring secure and trusted AI systems, and promoting AI for science and social empowerment.

    The signatories, including major nations like the US, Russia, China, South Korea, and the UK, as well as entities like the EU and IFAD, are called upon to enhance international cooperation and multi-stakeholder engagement in the field of AI. The charter advocates for the democratic diffusion of AI, open-source AI tools, and energy-efficient AI infrastructure to advance the technology responsibly and inclusively.

    Source: Inc42 Media

  • New-Age Tech Stocks Face Volatility Amid IT Sell-Off: EaseMyTrip Sees Strong Gains

    This article was generated by AI and cites original sources.

    New-age tech stocks experienced a challenging week as IT sell-offs continued to impact the market. The ‘India AI Impact Summit 2026’ showcased tech innovations, but 36 out of 52 new-age tech companies saw declines ranging from 0.02% to nearly 20% between February 16-20. Companies like FirstCry and Zaggle were hit the hardest, with their shares dropping to new lows. Additionally, shares of Capillary Technologies, WeWork India, BlueStone, Awfis, and MapmyIndia also reached new lows.

    Investors maintained cautious attitudes towards recently listed companies Aye Finance and Fractal, as their shares fell below IPO prices post-listing. Despite this, the cumulative market cap of 54 new-age tech companies reached $143.18 billion by the week’s end, with notable performers like EaseMyTrip seeing a 40.7% surge in their stock value. Amagi also achieved a record high share price during the week.

    These fluctuations underscore the volatility in the new-age tech stock market and the impact of external factors like IT sell-offs on investor sentiment. Observing how companies navigate these challenges and capitalize on opportunities, such as EaseMyTrip’s significant gains, will be crucial for tech enthusiasts and investors alike.

    Source: Inc42 Media

  • Univest’s Tech-Driven Expansion Fuels Projected 200% Revenue Growth

    This article was generated by AI and cites original sources.

    Wealthtech startup Univest is on track to achieve a substantial revenue growth of almost 200% year-over-year in the current fiscal year, driven by its strategic expansion into new tech-enabled financial services. The company, known for its stock broking offerings, has recently diversified into mutual fund advisory and distribution, broadening its revenue streams.

    Univest’s revenue surged by 3.5 times year-over-year to ₹44.1 Cr in the previous fiscal year, although it reported a loss of ₹30 Cr. Looking ahead, the startup anticipates a remarkable 250% year-over-year increase in revenue for FY26, aiming to surpass the ₹150 Cr revenue milestone.

    CEO Pranit Arora highlighted that Univest’s growth is attributed to the rising subscriptions and the expansion of its brokerage business. With an initial operating revenue of ₹44.1 Cr in FY25, the projected 200% revenue surge would propel the startup’s revenue beyond ₹130 Cr in FY26, paving the way for profitability in the subsequent financial year.

    Founded in 2022, Univest has established itself as a key player in the wealthtech sector, offering personalized advisory services to retail investors through its tech-enabled platform. The startup’s subscription-based model, priced attractively from ₹5 per day for stock research, has garnered over 5 Lakh paid users and more than 75 Lakh app downloads.

    Univest’s strategic move into the stock broking domain has already started contributing significantly to its revenue, accounting for 10-12% currently, with expectations to reach 30% in the near future. The company’s revenue diversification strategy, coupled with its tech-driven approach, positions it for sustained growth and market expansion.

    Source: Inc42 Media

  • BHIM Surpasses CRED in January UPI Rankings, Showcasing Digital Payment Landscape Shifts

    This article was generated by AI and cites original sources.

    According to a recent report by the National Payments Corporation of India (NPCI), the Bharat Interface for Money (BHIM) app has overtaken CRED and FamApp in January’s Unified Payments Interface (UPI) transactions, marking a significant milestone in the digital payment landscape. BHIM recorded 17.2 crore transactions worth ₹22,025.9 crore, showcasing a market share increase to 0.8% from 0.7% in December. This surge comes as total UPI transactions for January reached 21.7 billion transactions valued at ₹28.33 lakh crore, setting a new record high.

    PhonePe also experienced a transaction volume rise to 991.3 crore in January, with a market share of 46.6% compared to 45.3% in December, handling transactions worth ₹13.7 lakh crore. Notably, Google Pay witnessed a slight decline in market share with 722.9 crore transactions and a value of ₹9.95 lakh crore. Meanwhile, Paytm saw a modest increase in market share, processing 165.9 crore transactions totaling ₹1.81 lakh crore.

    Additionally, PhonePe recently filed for its initial public offering (IPO), with plans to offer over 5 crore equity shares for sale. Prominent stakeholders like Walmart’s WM Digital Commerce Holdings, Tiger Global, and Microsoft are set to sell significant portions of their shares through the IPO, signifying a pivotal moment for the company’s future.

    Source: Inc42 Media

  • Univest Poised for Profitability as It Expands into Mutual Fund Advisory and Distribution

    This article was generated by AI and cites original sources.

    Wealthtech startup Univest, led by CEO Pranit Arora, is on track to achieve profitability in FY26 as it expands into the mutual fund advisory and distribution business. With a 3.5X year-over-year (YoY) revenue growth to ₹44.1 crore in FY25, Univest aims for a 250% YoY revenue surge, crossing the ₹150 crore mark this fiscal year. Univest’s revenue hike is fueled by increasing subscriptions and growth in its brokerage services, propelling the startup towards financial success.

    Founded in 2022 and based in Delhi NCR, Univest provides advisory services to retail investors through its platform staffed by SEBI-registered advisors. Offering subscription plans starting at ₹5 per day for stock research, Univest boasts over 5 lakh paid users and 75 lakh app downloads. Transitioning into a full-stack trading ecosystem, Univest entered the stock broking segment last year, with broking revenue accounting for 10-12% of overall revenue, set to rise to 30% next year.

    The startup’s strategic move into mutual fund advisory and distribution aligns with its growth trajectory, positioning Univest for increased market presence and revenue diversification. Univest’s journey towards profitability reflects its commitment to expansion in the wealthtech sector.

    Source: Inc42 Media

  • Indian Startups Raise $285 Million Amid Market Challenges

    This article was generated by AI and cites original sources.

    Recent developments in the Indian startup ecosystem have showcased resilience despite market challenges. Although funding dropped 69% from the previous week, Indian startups raised a total of $285.3 million, with Spinny’s $170 million Series G round playing a significant role in boosting the overall funding numbers. This funding surge highlights the continued investor interest in Indian startups amid economic uncertainties.

    Key investments during this period include Stable Money securing $25 million in a pre-Series C round, Statiq raising $18 million in the clean tech sector, and Portkey receiving $15 million in Series A funding for its AI application layer technology. These investments underscore the diverse range of sectors attracting capital in the Indian startup landscape.

    Peak XV and Tenacity emerged as key investors during this funding cycle, supporting multiple startups across different sectors. The funding landscape reflects a mix of established venture capital firms and strategic investors, indicating a healthy ecosystem supporting innovation and growth.

    While the overall funding may have experienced fluctuations, the consistent flow of capital into Indian startups demonstrates the sector’s resilience and potential for continued growth. The strategic investments made by various players signal confidence in the long-term prospects of the Indian startup ecosystem.

    Source: Inc42 Media

  • PM Modi Highlights AI’s Potential in Indian Agriculture at AI Impact Summit

    This article was generated by AI and cites original sources.

    Prime Minister Narendra Modi recently engaged in discussions with the CEOs of 16 AI and deeptech startups during the ongoing ‘India AI Impact Summit 2026’. The meeting focused on the potential of artificial intelligence in various sectors, particularly agriculture, and the importance of tailored solutions to address India’s unique needs.

    PM Modi emphasized the significance of strong data governance, the dangers of misinformation, and the necessity for solutions customized to India’s challenges. The startups present, spanning healthcare, agriculture, cybersecurity, space, and social empowerment sectors, showcased their commitment to ethical AI and enhancing enterprise productivity.

    Exploring the startups’ capacity to scale their products for mass adoption, PM Modi discussed leveraging AI in critical areas like agriculture to monitor crop productivity, optimize fertilizer usage, and preserve soil health. Additionally, he advocated for the promotion of Indic languages and the potential of AI in providing higher education in regional dialects.

    At the summit, Modi emphasized the importance of lawful and verifiable AI, stressing the need for watermarked AI-generated content to ensure authenticity and accountability.

    Source: Inc42 Media

  • India Strengthens Global AI Supply Chain Security by Joining Pax Silica Pact

    This article was generated by AI and cites original sources.

    India has formally joined the Pax Silica initiative, signing the Pax Silica Declaration to enhance AI and supply chain security globally. The Ministry of External Affairs announced India’s participation in the AI and supply chain security alliance during the AI Impact Summit in New Delhi. This move follows an invitation from the US and signifies a deepening collaboration between India and the US in critical technologies and supply chain resilience.

    The IT Minister, Ashwini Vaishnaw, highlighted the potential for India-US cooperation, emphasizing the importance of securing supply chains. The Joint Statement on the ‘India-US AI Opportunity Partnership’ complements the Pax Silica initiative, aiming to promote innovative regulatory approaches, enhance the AI infrastructure, and foster free enterprise.

    Pax Silica, initiated by the US to secure supply chains for silicon, semiconductors, and AI components, focuses on producing high-purity silica crucial for semiconductor manufacturing. This initiative underscores the significance of high-grade silica in ensuring optimal performance of AI chips.

    Source: Inc42 Media

  • UAE’s G42 to Deploy Powerful 8 Exaflop AI Supercomputer in India

    This article was generated by AI and cites original sources.

    During the India AI Impact Summit 2026, the Centre for Development of Advanced Computing (C-DAC) finalized a term sheet with UAE’s G42 to deploy a supercomputer cluster in India. This collaboration will result in the establishment of a national-scale AI supercomputer with a peak compute capacity of eight exaflops, nearly 19 times the combined capacity of India’s current flagship AI supercomputers. G42, in partnership with US-based AI chipmaker Cerebras, Mohamed Bin Zayed University of Artificial Intelligence, and C-DAC, will drive this project forward.

    The supercomputer cluster will be accessible to startups, public, and private sector entities for research, application development, and commercial purposes. This initiative is set to significantly enhance India’s computational capacity and sovereign AI efforts. The supercomputer’s operations will adhere to India’s governance frameworks, ensuring that all data processed remains within the country.

    Cerebras’ chief strategy officer, Andy Hock, highlighted that deploying this system in India will propel training and inference for large-scale AI models, empowering researchers and developers to tailor AI solutions to India’s requirements. The project aims to democratize AI innovation, fostering breakthroughs in the field.

    Source: Inc42 Media