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UPI developer NPCI's profit jumps 42% to Rs 1,552 crore in FY25
- NPCI, the developer of UPI, saw a 41.7% increase in revenue surplus to Rs 1,552 crore for the fiscal year ending in March 2025.
- NPCI's revenue growth was driven by a surge in digital transaction volumes across platforms like UPI, IMPS, AePS, BBPS, and NCMC.
- In FY25, NPCI processed 21,360 crore transactions, up 33% from the previous year, and its net worth increased to Rs 6,412 crore.
- However, despite its financial strength, NPCI faced operational challenges, including recent UPI service disruptions, while continuing to experience increasing transaction volumes.
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Startup Pedia
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‘Biggest risk of my life’: Mukesh Ambani says it would have been ‘worth it’ even if Jio had failed
- Mukesh Ambani considers the launch of Jio as the biggest risk taken by Reliance Industries, stating it would have been worth it even if it had failed.
- He emphasized that businesses need to harness technologies for impact and noted the importance of creating impact at scale to improve lives.
- Ambani mentioned the company's willingness to take big risks for scale, even if the returns are not substantial, viewing it as a form of philanthropy through digital transformation in India.
- He expressed his vision for Reliance to serve India and humanity for centuries, highlighting the changing landscape of technology and the importance of adapting to new opportunities.
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Medium
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Unlocking AI Content Repurposing: Castmagic Review & Surprising Wins
- Castmagic is reviewed for its ability to streamline content creation for podcasters with promises of efficient content repurposing.
- The AI tool, Castmagic, goes beyond basic transcription by generating show notes, summaries, social media snippets, and key quote highlights.
- Castmagic is highlighted for its user-friendly interface, requiring no complex setup or tech skills for creators to utilize successfully.
- A content agency integrated Castmagic into its workflow, significantly reducing turnaround time and attracting new clients due to faster content delivery.
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Inc42
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ITC Pulls The Plug On Its Online Store
- FMCG giant ITC has discontinued its online store, 'ITC Store,' after nearly five years of operation, citing that the platform has served its purpose.
- ITC is shifting towards a multi-platform digital distribution strategy, focusing on ecommerce, quick commerce, and modern trade, while strengthening its presence in general trade.
- ITC's products are available on platforms like Amazon, Blinkit, and Instamart, with the company witnessing over 50% growth in ecommerce and quick commerce channels.
- India's urban quick commerce space is witnessing significant growth, with competition intensifying among players like Zepto, Swiggy Instamart, and Zomato's Blinkit.
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TechCrunch
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Introducing the Going Public Stage at TechCrunch Disrupt 2025
- TechCrunch Disrupt introduces Going Public Stage for mid to late-stage founders.
- Learn from tech giants like Zoom's CEO and Nextdoor's CEO on building resilient companies.
- Sessions cover IPO prep, AI-powered GTM strategy, and navigating the evolving VC landscape.
- Join to explore what follows breakout success, exit strategies, and future market trends.
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Inc42
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Rollins Terminates Acquisition Deal With EaseMyTrip
- Listed online travel aggregator EaseMyTrip's acquisition deal to acquire a stake in healthcare company Rollins International has been terminated.
- Rollins decided to pull out of the acquisition deal after previously signing definitive agreements with EaseMyTrip for the acquisition.
- Rollins cited a reevaluation of its long-term strategic direction and vision as the reason for backing out from the deal.
- EaseMyTrip had planned to integrate Rollins and Pflege Home Healthcare to offer medical tourism services but now faces the challenge of the terminated deal.
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TechCrunch
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Better Auth, an authentication tool by a self-taught Ethiopian dev, raises $5M from Peak XV, YC
- Bereket Engida, an Ethiopian solo dev, secures $5M funding for Better Auth tool.
- Better Auth's open-source framework simplifies user authentication, garners investor interest, and strong user adoption.
- Engida aims to offer flexible, customizable authentication solutions, keeping user data on premise.
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Startup Story
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Amicus Capital Closes Second Fund at $214 Mn, Surpasses Initial Target Amid Strong Institutional Backing
- Amicus Capital Partners closes its second fund, Amicus Capital Partners India Fund II, at $214 million, surpassing its initial target of $200 million.
- The fund focuses on high-growth, capital-efficient mid-market companies in India and has already invested in companies like Aequs, Equirus Capital, and Manipal Payments & Identity.
- The fund received strong support from domestic and international investors, with 95% of the capital coming from institutional investors such as HDFC Fund of Funds and the National Investment and Infrastructure Fund.
- Amicus Capital plans to deploy 50% of the fund by the end of 2025 and continues to focus on profitable companies in sectors like consumer, financial services, healthcare, and technology.
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Eu-Startups
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Paris-based cryptography startup Zama secures €49 million to bring end-to-end encryption to public blockchains
- French startup Zama secures €49 million Series B funding round for blockchain solutions.
- Co-led by Blockchange Ventures and Pantera Capital, Zama's valuation exceeds $1 billion USD.
- Zama becomes world's first FHE unicorn, offering confidentiality to financial applications.
- Zama's launch includes Confidential Blockchain Protocol, FHE libraries, and onchain finance solutions.
- Zama focuses on scalability, hardware integration, and developer usability to advance FHE adoption.
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TechCrunch
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Bill Gates-backed AirLoom begins building its first power plant
- Wind power faces challenges with rising costs and political resistance.
- AirLoom Energy, led by CEO Neal Rickner, aims to revolutionize wind energy with a unique turbine design.
- The startup breaks ground on a pilot site in Wyoming to demonstrate the capabilities of its shorter-blade wind turbine system.
- AirLoom targets deployment of its first commercial-scale system in 2027 or 2028, potentially for data centers or military bases.
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Startup Story
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GIVA Raises ₹530 Cr in Series C Round Led by Creaegis to Accelerate Retail and Product Expansion
- Direct-to-consumer fine jewellery brand GIVA raises ₹530 crore in a Series C funding round led by Creaegis, following an earlier ₹450 crore investment by the same investors in June.
- Founded in 2019, GIVA has expanded from sterling silver to gold and lab-grown diamond jewellery, planning to utilize the fresh funds for retail and digital expansion, technology-driven supply chain enhancements, and product diversification.
- GIVA intends to open 145-150 new stores by the end of the year, with a focus on Tier II cities to cater to the rising demand for affordable luxury and modern designs in India.
- Creaegis, emphasizing GIVA's omnichannel strategy, aims to support the brand's growth in the fine jewellery market, leveraging its product design, digital presence, and omnichannel operations to capture the evolving consumer landscape.
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ISN
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Indian govt-backed ONDC independent director Arvind Gupta steps down
- Arvind Gupta, founding member and first independent director of ONDC, steps down from the government-backed e-commerce platform.
- His departure follows resignations of other senior officials like managing director Thampy Koshy, chairperson R.S. Sharma, and chief business officer Shireesh Joshi.
- ONDC is governed by a board of directors and advisory council comprised of various stakeholders.
- Gupta stated he completed his three-year term and chose not to continue as an independent director.
- ONDC praised Gupta for his role in shaping the platform and guiding its growth.
- The remaining independent directors at ONDC are Adil Zainulbhai, Anjali Bansal, and Ritesh Tiwari.
- The departure coincides with a decline in transactional activity on ONDC, such as falling retail and logistics order volumes.
- ONDC was designed to create an open digital commerce infrastructure to promote interoperability in e-commerce.
- The platform aims to address dominance by e-commerce giants by enabling buyers and sellers to interact across different applications.
- ONDC seeks to be a foundational component of India’s digital public infrastructure akin to the Unified Payments Interface (UPI) in financial services.
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Siliconcanals
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New Kid on the Block: Meet Brighter Signals, Amsterdam’s Antler-backed startup giving machines human-like abilities to touch
- Brighter Signals, a startup based in Amsterdam, aims to give machines human-like touch abilities.
- The company's patented sensor tech allows fabrics to feel like human skin, gathering rich data.
- Focused on industries like robotics, automotive, and healthcare, it offers innovative tactile sensors.
- Backed by Antler VC, Brighter Signals is set to revolutionize the way machines sense and measure.
- With a mission to improve touch technology, the company aims for smart, adaptive solutions.
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Inc42
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106
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Jio Financial Services Invests INR 190 Cr In Jio Payments Bank
- Jio Financial Services invests INR 190 Cr in Jio Payments Bank after acquiring complete ownership.
- JFS made the investment by purchasing 19 Cr equity shares of Jio Payments Bank at INR 10 each.
- Jio Payments Bank was integrated with JioFinance app, aiming to streamline financial services for users.
- JFS is expanding its financial services offerings, entering areas like wealth management, asset management, and stock broking.
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Inc42
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BigBasket’s INR 4,000 Cr Private Label Moat Against Zepto & Co
- BigBasket silently created a strong private label empire in online grocery delivery.
- Its INR 4,000 Cr private label revenue dwarfs competitors like Zepto, Instamart, Blinkit.
- BigBasket's unique approach to private labels and strong brand loyalty ensure customer stickiness.
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