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Pymnts
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Farsight Raises $16 Million for Financial Automation Platform
- Farsight, a financial automation platform, secured $16 million in a Series A funding round.
- The funding will support product development, team expansion, and new partnerships/customers.
- Farsight, co-founded by MIT graduates, focuses on automating manual tasks in finance to enhance productivity and accuracy.
- The platform aims to free up employees from repetitive tasks, enabling strategic value addition.
- Automation and AI can simplify B2B payments, unlike in consumer transactions.
- B2B payments involve larger invoices, extended terms, and complex compliance compared to consumer payments.
- Traditional B2B payment solutions have been fragmented, but AI and machine learning are remedying this issue.
- PYMNTS' report highlights over 80% of CFOs at large companies are either using or considering AI adoption for financial decisions.
- The focus on AI in financial decision-making is gaining traction.
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Pymnts
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Stripe Acquires Privy to Bolster Its Cryptocurrency Game
- Stripe has acquired crypto firm Privy to enhance its involvement in the digital assets space.
- Privy assists companies in building crypto wallets and announced the acquisition on its website.
- The terms of the purchase were not disclosed.
- Privy's CEO expressed that the intersection of digital ownership and financial systems is significant, aligning with Stripe's vision of merging crypto and fiat systems.
- Privy provides an API for customers to securely create wallets, sign transactions, and integrate on-chain systems, serving over 75 million accounts and 1,000+ developer teams.
- Stripe recently expanded its money movement capabilities, allowing U.K. businesses to manage balances in multiple currencies and make cross-border payments easier.
- Stripe Co-founder John Collison highlighted the importance of stablecoins and AI in shaping the future of online commerce.
- Collison mentioned discussing stablecoin integration with banks, signaling a growing interest in incorporating stablecoins into traditional banking products.
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Insider
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The 10 most exciting AI agent startups at Y Combinator's Demo Day for its first-ever spring cohort
- Y Combinator's spring 2025 batch features 70 startups focused on agentic AI, with the accelerator investing $500,000 in each selected startup.
- Business Insider identified 10 of the most interesting AI agent startups from YC's spring batch.
- The startups cover various industries such as healthcare, B2B, fintech, consumer finance, operations, security, and more.
- In the first-ever spring cohort, Y Combinator looked for startups exploring new uses of artificial intelligence, with a focus on agentic AI.
- The selected startups showcased their technology at YC's Demo Day.
- Y Combinator provides mentorship and a three-month sprint of product development for its selected startups.
- Aegis automates the insurance appeals process, Airweave turns productivity apps into searchable databases for AI, and Approval AI automates the mortgage process.
- Atlog offers AI voice agents for furniture rental sales, Beluga Labs helps content creators with financial organization, and Casco simulates attacks on AI systems for security.
- Galen AI connects healthcare records to offer health advice, Mbodi AI teaches robots new skills, and Plexe builds open-source agents for machine-learning models.
- Willow is a voice dictation app that crafts messages using AI. These startups are revolutionizing their respective industries with cutting-edge agentic AI technology.
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Inc42
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Meta India’s Public Policy VP Shivnath Thukral Steps Down
- Shivnath Thukral, Meta's Public Policy VP in India, is stepping down after over 7 years with the company.
- Thukral plans to focus on running, health, and family after leaving the company at the end of the month.
- Having worked at Meta since 2017, he moved through various public policy roles within the company.
- Thukral helped develop systems and processes for Meta's policy engagement during his tenure.
- He believes the team is well-equipped to continue policy work independently after his departure.
- Thukral, an alumnus of Delhi School of Economics and Southern Illinois University, had previous roles at Carnegie India, Essar Group, and NDTV.
- Sandhya Devanathan, VP for India, has taken on additional responsibilities for Meta's Southeast Asia operations.
- Thukral's exit coincides with Google's head of public policy in India, Sreenivasa Reddy, leaving in February.
- Meta has faced scrutiny in India, including blocking accounts for scams and a penalty for WhatsApp's policy update.
- The National Company Law Appellate Tribunal granted interim relief to Meta regarding WhatsApp's data sharing policy ban.
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Economic Times
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Space tech firm Voyager valued at $3.8 billion as shares surge in NYSE debut
- Voyager Technologies achieved a $3.8 billion valuation as its shares surged over 125% in their NYSE debut, raising $382.8 million through an upsized IPO.
- The space sector is gaining attention under the Trump administration's proposed $175 billion Golden Dome project for missile defense in the U.S.
- Voyager, founded in 2019, specializes in mission-critical space and defense technology with a backlog of $179.2 million as of March 31.
- Lockheed Martin selected Voyager to supply propulsion and optical guidance systems crucial for U.S. defense against long-range missile threats.
- NASA awarded Voyager $217.5 million for Starlab, a potential International Space Station successor to be operated with Airbus, Mitsubishi, and Palantir.
- The broader space sector views Voyager's IPO as indicative of commercial maturity, following Karman's successful public debut earlier.
- IPOX research associate Muehlbauer mentioned that strong government support amid defense spending increases reduces supply chain risks for such firms.
- Notable asset managers like Janus Henderson and Wellington Management have shown interest in purchasing up to $60 million of Voyager's shares.
- The defense sector's high entry barriers limit IPO candidates, but established companies are finding the current environment conducive for going public.
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Pymnts
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Paynt Acquires E-xact Transactions to Accelerate Expansion Across North America
- European payment technology company Paynt has acquired Canadian payment processor E-xact Transactions to accelerate its expansion across North America.
- The acquisition gives Paynt a new operational hub in Vancouver, joining its existing regional offices in the U.K., Ireland, the Baltic States, and the U.S.
- E-xact Transactions processes over CAD 3.5 billion annually, serving bank partners, ISVs, and merchants.
- Paynt currently processes payments in the European Economic Area and the U.K., offering POS solutions and financial services for the hospitality and retail sectors.
- Paynt's founder and Group CEO, Sam Kohli, mentioned entering a new chapter in building the company's North American footprint.
- John Paul Golino, a payments industry veteran, has been appointed to lead the integration of E-xact into Paynt's platform.
- Paynt is evaluating U.S. acquisition targets and plans to finalize another deal by the end of the year.
- The acquisition expands Paynt's reach and enhances solutions for merchants and partners across Canada, as per Golino.
- Paynt highlights SoftPOS as a preferred choice for merchants to accept contactless payments using smartphones or tablets, eliminating the need for traditional POS terminals.
- SoftPOS is seen as an ideal solution for businesses aiming to boost sales, cut expenses, and improve customer experience.
- PYMNTS Intelligence and Discover Global Network report that 71% of merchants expect SoftPOS to replace traditional POS terminals.
- Paynt aims to reinforce global leadership in payment solutions through this acquisition.
- The company is focused on growth in North America and plans further expansion and acquisitions.
- The acquisition of E-xact Transactions is a strategic move to enhance Paynt's presence in the payment processing industry.
- John Paul Golino will oversee the company's go-to-market efforts in the North American region.
- Paynt's expansion reflects the increasing importance of digital payment solutions in the evolving payments landscape.
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ISN
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Merchant payments unicorn Pine Labs to file DRHP for up to Rs 6,000 crore IPO, report says
- Pine Labs, a merchant payments and consumer lending unicorn, is set to file its DRHP with SEBI by the end of this month for a potential IPO in India.
- The firm aims to raise Rs 5,000–6,000 crore through the IPO, potentially valuing it between $4 billion and $5 billion.
- Axis Capital, JP Morgan, Morgan Stanley, Citi, and Jefferies are the bankers to the issue, with the IPO expected towards the end of the year.
- Pine Labs had earlier planned to list in the U.S. but shifted its strategy to India due to changing market conditions.
- The company formally shifted its domicile from Singapore to India in April and is now a public limited company preparing for the IPO.
- Pine Labs has raised approximately $1.3 billion from investors like Peak XV Partners, Temasek, PayPal, Mastercard, and others.
- Founded in 1998, Pine Labs evolved from loyalty solutions to merchant payments and expanded into online payments and consumer finance.
- In 2022, Pine Labs secured a payment aggregator license from the RBI and launched Pine Labs Online for digital payments.
- The company made acquisitions including Fave, Setu, Mosambee, and Qwikcilver to bolster its fintech offerings in consumer payments and PoS deployment.
- Pine Labs has also entered the buy-now-pay-later space, targeting online and offline retail channels.
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TechBullion
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Castleforbes Wealth Expands European Reach with Proven Fixed Rate Bonds Delivering Consistent Client Returns
- Castleforbes Wealth expands its reach in Europe with successful fixed rate bond offerings, ensuring consistent client returns.
- The firm specializes in bespoke investment solutions tailored to clients' needs and has a strong focus on fixed rate bonds.
- Director of Client Relations, Emma Thompson, emphasizes the proven financial solutions and dedication to secure investments.
- The expansion showcases the commitment to high standards and client-centric services in the European market.
- Castleforbes Wealth employs strategic analysis to manage risk effectively while maximizing returns for clients.
- The company's success is attributed to trust from clients and dedication to building enduring relationships.
- Castleforbes Wealth is known for expertise in equities, bonds, and investment funds with a personalized approach for each client.
- For more information about Castleforbes Wealth and their services, visit their website at https://castleforbeswealth.com.
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Pymnts
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DoorDash Buys Symbioysis to Bolster Billion-Dollar Ad Business
- DoorDash acquires advertising tech company Symbiosys for $175 million.
- The acquisition aims to strengthen DoorDash's billion-dollar ad business.
- DoorDash's ad business generates over $1 billion in revenue per year.
- Symbiosys, founded by a former Google Ads product director, enables brands to place ads on platforms like Facebook and Google.
- DoorDash will offer advertisers the ability to manage their ad spaces on various platforms as well as on DoorDash's website and app.
- New offerings for restaurant and brand clients include AI tools for campaigns, targeting, and discounts.
- For brands, DoorDash introduces 'sponsored brand enhancements' with engaging visuals like video formats and product carousels.
- DoorDash's recent acquisitions include SevenRooms and Deliveroo to expand its global commerce platform.
- Through acquiring Deliveroo, DoorDash aims to strengthen its global position in commerce.
- The Deliveroo deal will provide DoorDash with local expertise in over 30 countries and access to 42 million monthly users.
- DoorDash plans to cover more than 40 countries with a combined population of over 1 billion people.
- The acquisitions align with DoorDash's strategy to enhance its services and global reach.
- The acquisition of Symbiosys is part of DoorDash's efforts to innovate and grow in the advertising space.
- DoorDash CEO sees the acquisitions as opportunities to empower local businesses with tools for growth.
- The company aims to provide businesses with customized campaigns and marketing solutions.
- DoorDash envisions offering seamless advertising options for businesses of all sizes.
- With the acquisitions, DoorDash seeks to expand its reach and offer new opportunities for merchants worldwide.
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ISN
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ZEE Entertainment partners with content startup Bullet to launch micro-drama app
- ZEE Entertainment partners with the content startup Bullet to introduce a micro-drama app.
- Bullet focuses on fast-paced, creator-driven content in short vertical format episodes for a younger audience.
- ZEE will invest or acquire a stake in Bullet as part of the strategic equity partnership.
- Bullet will be integrated into the ZEE5 platform to provide bite-sized entertainment to users.
- The app plans to offer native stories with global appeal and will be available in multiple languages.
- Bullet emphasizes creator-led content, gamified experiences, AI-powered personalization, and innovative content pricing.
- The application aims to cater to young audiences with mobile-first, immersive content experiences.
- AI-driven pricing and performance prediction models will be introduced for content acquisition and distribution.
- The app will feature gamification layers for user retention and loyalty, along with creator-generated content pipelines.
- ZEE intends to drive scale and monetization through partnerships like this to stay competitive in the digital ecosystem.
- Co-Founder of Bullet sees the app as a blend of short-form content novelty with captivating stories to engage users effectively.
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Economic Times
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Meesho’s reverse flip may conclude this week; likely to file IPO papers this month, say sources
- Meesho is expected to conclude its redomiciling from the US to India this week, with plans to file for its IPO this month.
- The company aims for a $700-800 million IPO, subject to market conditions and may file under Sebi's confidential route.
- Meesho recently became a public entity and will become the parent company after the redomiciling process is completed.
- The company closed a $550 million funding round, valuing it around $3.9-4 billion, slightly below its peak valuation of $5 billion.
- Kotak Mahindra Capital, Citi, JP Morgan, and Morgan Stanley are set to be merchant bankers for Meesho's public issue.
- Meesho joins companies like Flipkart planning IPO; others like PhysicsWallah, Urban Company, Shiprocket, Boat, and Groww are also looking to go public this year.
- Meesho recorded a 34% YoY growth in orders during April-December 2024, reaching 1.3 billion orders.
- As of December 31, the company had 187 million unique annual transacting users, marking a 26% increase from the previous year.
- CLSA report stated Meesho's GMV at $6.2 billion, with an estimated 26% CAGR for the next six years and a 37% market share in orders for 2024.
- The company introduced Meesho Mall and Valmo logistics service, diversifying its revenue streams and enhancing logistics capabilities.
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The Pragmatic Engineer
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TDD, AI agents and coding with Kent Beck
- Kent Beck, the creator of Extreme Programming (XP) and a pioneer of Test-Driven Development (TDD), discusses using AI coding tools and his experiences in software development.
- Beck shares his excitement about coding with AI agents, allowing more ambitious projects without knowing all the details, such as building a Smalltalk server and Language Server Protocol for Smalltalk.
- He emphasizes the importance of TDD as a superpower when working with AI agents to prevent regressions, even though the agents might evolve illogically.
- Reflecting on his time at Facebook in 2011, Beck was surprised by the absence of unit tests but recognized the company's strong sense of responsibility, use of feature flags, and staged rollouts.
- The origin of the term 'Extreme Programming' was a strategic choice by Beck, inspired by extreme sports, and was aimed at making an impact in the software development community.
- Beck encourages experimentation with AI and acknowledges the shifting landscape of technology and its unpredictable effects on the industry.
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Hitconsultant
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The Future of Mobility: Wandercraft Raises $75M for Self-Balancing Exoskeletons
- Wandercraft, a leader in self-balancing robotic mobility systems, secures $75M in Series D funding.
- Major contributors to the funding round include Renault Group, PSIM fund managed by Bpifrance, Teampact Ventures, and Quadrant Management.
- Wandercraft is known for creating the world's first self-balancing walking exoskeleton, Atalante X, used in over 100 rehabilitation centers globally.
- The funding will drive development in three key areas: introducing Eve personal exoskeleton, expanding Atalante X adoption, and developing Calvin-40 for industrial applications.
- Renault Group now holds a minority stake in Wandercraft, aiding in scaling up exoskeleton production and supporting the development of humanoid robots.
- Renault Group is also Wandercraft's first commercial partner for Calvin-40, a humanoid robot developed in just 40 days using NVIDIA Isaac technologies.
- Recent milestones include FDA clearances for Atalante X, deployment in 100+ hospitals globally, launching clinical trials for Eve personal exoskeleton, enabling 2,500 individuals to take over 14 million steps, and winning a 2025 SXSW Innovation Award.
- Wandercraft's CEO, Matthieu Masselin, highlights the company's global expansion, clinical trials, upcoming Eve commercialization, and partnership with Renault Group.
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VC Cafe
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Betting on People: What VCs Look for at the Pre-Seed Stage
- At the pre-seed stage, startups are evaluated based on pitch decks, founding team, and early signs of promise by experienced investors.
- Investors look for founder-market fit, clarity of vision, and potential for execution using mental shortcuts known as 'flags'.
- Green flags like scrappy traction, intellectual honesty, founder insight, 'why now?' clarity, bias to build and ship, and market command spark curiosity.
- Red flags including chasing trends without depth, fuzzy GTM strategy, fundraising over product, founder friction, lack of learning evidence, and missing critical talent make investors hesitate.
- Pre-seed investing focuses on backing people who can navigate uncertainty, learn quickly, and execute with urgency.
- Founders seeking pre-seed funding are encouraged to seek feedback, as there are no fixed rules for all cases.
- Eligible for Web Story: No
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Inc42
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Meesho To File IPO Papers In Few Weeks Via Confidential Route
- Meesho, an ecommerce major, is set to file its IPO papers in a few weeks via the confidential route after board approval.
- The startup aims to raise $700 Mn to $800 Mn, lower than the speculated $1 Bn IPO.
- Investment bankers Citigroup, Kotak Mahindra Capital, and Morgan Stanley are involved in Meesho's public offering.
- Discussion about the IPO filing is ongoing and plans could change.
- Meesho recently became a public company for flexibility and alignment with IPO regulatory expectations.
- Meesho's board approved issuing 411.4 Cr bonus shares of INR 1 each to equity shareholders.
- Prosus ascribed a timeline of 18 months to Meesho’s public listing.
- On the financial front, Meesho is yet to disclose its financial numbers for FY25.
- Multiple tech companies, including Groww and Urban Company, are gearing up for public listings this year.
- New-age tech companies opt for confidential IPO filings to submit IPO papers without immediate public reveal.
- SEBI allowed confidential IPO filings in December 2022, an alternative to traditional IPO filing process.
- Swiggy and OYO have also considered confidential IPO filings in the past.
- VCs believe the confidential route allows founders to control public disclosure timing and avoid disruptions.
- Lenskart is reportedly planning to file its IPO confidentially in the upcoming weeks.
- Tech companies prefer confidential filings to manage public disclosure strategically.
- Meesho's IPO filing via the confidential route indicates growing trend of using this method among startups.
- The confidential filing route offers startups control over timing to market their IPO and avoid disruptions.
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