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Tag: #news

  • Paytm Relaunches BNPL as Credit Line on UPI to Boost Digital Lending

    The fintech giant has revived its buy-now-pay-later (BNPL) product, Paytm Postpaid, as a credit line on UPI more than a year after it was put on hold. Paytm Postpaid, which was introduced in collaboration with Suryodaya Small Finance Bank, would allow consumers to obtain immediate short-term credit through the “Spend Now, Pay Next Month” plan.

    Customers who are more likely to use this credit are the only ones being offered the service; a wider rollout is anticipated in the upcoming months. The facility provides short-term credit for a maximum of 30 days.

    Why Paytm Closed the BNPL Credit Line?

    In May 2024, Paytm discontinued its Postpaid service, pointing to a general deterioration in asset quality in the sector. Before being placed on indefinite hold in December 2023, Postpaid was first introduced as a BNPL product. It was then recast as a small-ticket personal loan option.

    The business stated at the time that it would not start up again until the credit cycle was over. Since then, the company’s management has insisted that BNPL is still a worthwhile product and will reappear when the macroeconomy improves and lenders feel more at ease giving out small-ticket loans. Paytm CEO Vijay Shekhar Sharma hinted on the company’s Q1 results call that BNPL was halted because lenders were growing wary of small-ticket loans (less than INR 50,000).

    He went on to say that BNPL will return when the personal credit is restored because he personally adored the product and was a promoter of it. The company is adamant that it will return. In contrast to the consistent development of its payments business, he reaffirmed that BNPL was one of Paytm’s most potent non-linear growth drivers, able to propel disproportionate revenue and margin expansion.

    Improved Market Conditions Rightly Poised to Re-launch BNPL

    The product’s rebranding as a credit line on the UPI offering implies that the business believes the market attitude has improved. Additionally, Paytm has been profitable at this moment. In the first quarter of FY26, the fintech giant reported a net profit of INR 122.5 Cr, compared to a loss of INR 840.1 Cr in the same period last year.

    During the reviewed quarter, operating sales soared 28% year over year to INR 1,918 Cr. Notably, prominent UPI players are increasingly using the credit line on UPI offerings.

    Such an option was introduced by PhonePe in August 2024, while Flipkart’s super.money strengthened its credit-on-UPI play by acquiring BNPL startup BharatX.

    Quick
    Shots

    •Offers short-term credit under “Spend
    Now, Pay Next Month” scheme.

    •Credit line valid for up to 30 days;
    currently limited to select users.

    •Full-scale rollout expected in the
    coming months.

    •BNPL was earlier paused due to asset
    quality concerns and lender caution.

  • No More Nvidia Chips: China’s Ban on U.S. AI Chips Explained

    According to CEIC, the U.S has hiked the price of an integrated circuit from less than $1 to $4 (between the period of 2017 – 2025). China Cyberspace Administration (CAC ), which is China’s main internet regulatory body, has passed strict orders to big tech companies to stop buying Nvidia’s AI chips. Chinese tech giants like ByteDance and Alibaba, following the notice, will have to end their ties with American AI chip-making companies. Why has it come to light now? Another trade war between the countries? Or a simple move towards self-dependence? Learn more.

    Why Did China Ban Nvidia’s Chips?

    • Nvidia is a renowned AI chip-making company in the world. Its chips are widely used in training advanced artificial intelligence systems. Several big companies like DeepSeek, Tencent, Alibaba, and more are customers of Nvidia.
    • The U.S. government has, for years, restricted China’s access to powerful technology because of security concerns. Additionally, in April, Trump pushed a 145% U.S. tariff on Chinese goods (later that number dropped to 30%).
    • In response to all the trade uncertainties, China is encouraging its companies to slim down their dependency on U.S. technology to zero. So, the companies are switching to local alternatives.

    The Chip Affected

    • The ban has specifically targeted Nvidia’s RTX Pro 6000D.
    • Nvidia designed and makes these chips specially for China because the U.S. has already restricted the sale of its powerful models to China.

    China’s Earlier Restrictions on Nvidia

    • Just before this ban, China already set rules (discouraging) for companies from buying another Nvidia chip made for them, called the H20.
    • The new ban (stricter) is to halt all kinds of purchases totally. The demand was down for Nvidia, and now the ban is hurting the company.

    The Companies Involved

    • Well, the major tech companies, including ByteDance (owner of TikTok) and Alibaba (e-commerce and cloud giant), use the RTX Pro 6000D.
    • Furthermore, the ban doesn’t just apply to the current deal, but also to deals in progress. This is going to affect companies on both sides, as many have planned to buy tens of thousands of these chips.
    • The companies have already started working with Nvidia’s server suppliers for integration. However, there’s now a pushback. 

    Impact on Nvidia

    • After the news, the stock price of Nvidia fell by 1% in premarket trading.
    • CEO of Nvidia, Jensen Huang, on Wednesday said (quoted by BBC), “There are a lot of places we can’t go to, and that’s fine.” He further added that he is “disappointed” and will remain “patient” and “support the US” as they resolve the issue. 

  • MobiKwik Reports INR 40 Crore Fraud, Recovers INR 14 Crore So Far

    Between September 11 and 12, some registered merchants and users cheated the publicly traded fintech business MobiKwik out of INR 40 Cr. The business alleged in an exchange filing that certain users and merchants from a few Haryana regions conspired to obtain an “unfair monetary advantage” by stealing money from the company.

    According to the corporation, arrests have also been made after it filed a formal complaint in Gurugram. It further stated that all bank accounts where the illegal settlements were credited have been debit-frozen and lien-marked by the law enforcement agencies.

    According to preliminary data, the FIR was filed for INR 40 Cr as a risk mitigation strategy; the corporation has collected about INR 14 Cr of that amount. Therefore, INR 26 Cr is the expected net impact. In order to recover the entire sum over time, the corporation is pursuing a legal course of action in addition to aggressive collection efforts.

    Police’s Action Mode in Mobikwik Fraud Case

    The Indian Express said that the Gurugram Police claimed that 2,500 accounts were used in the fraud. These accounts were located and placed on hold. In addition, six others were detained on suspicion of being involved in the case. MobiKwik has already dealt with a fraud case within the organisation.

    The company said in March that a former employee had changed the names of the merchants in order to steal INR 1.3 Cr from its books between August 2023 and September 2024. Through its smartphone app, the fintech startup offers merchants and consumers payment solutions. Credit cards, fast loans, UPI payment systems, payment gateways, point-of-sale devices, and soundboxes are among its products.

    Current Financial Performance of MobiKwik

    In terms of finances, the company’s operating revenue fell 20.7% from INR 342.3 Cr in the previous quarter to INR 271.4 Cr in Q1 FY26. In the period under review, its net loss increased six times to INR 41.9 Cr from INR 6.6 Cr in the first quarter of FY25. The lending business was impeded by the new RBI norms, which resulted in a decline in financial performance.

    Quick
    Shots

    •Fraud involved registered merchants
    and users from select Haryana regions.

    •Company alleges collusion to gain
    unfair monetary advantage.

    •Formal complaint filed in Gurugram;
    police arrests made.

    •2,500 accounts traced, frozen, and
    lien-marked by law enforcement.

    •Net expected impact stands at INR 26
    Cr after partial recovery.

    •MobiKwik pursuing legal and
    aggressive collection efforts for full recovery.

    •Six suspects arrested; police
    continue investigation.

    •Earlier fraud case in March 2024 saw
    ex-employee siphon off INR 1.3 Cr.

  • Loan for Medical Expenses: Smart Options to Pay for Treatment in 2025

    Rising medical bills have become a worry for many Indian families, with treatment costs often stretching beyond savings. A sudden hospitalisation or surgery can arrive without warning, leaving households struggling to arrange money at short notice. A loan for medical expenses offers a practical way to handle such situations, giving quick access to funds so patients can get timely care without delay. Instead of compromising on treatment, families can choose flexible repayment options that suit their budget. In 2025, platforms like Bajaj Markets make medical financing simpler, allowing borrowers to compare lenders easily and select the option that best matches their needs.

    Why Consider a Loan for Medical Expenses

    Here are simple reasons why a loan for medical expenses can make a big difference during tough times-

    • Get immediate funds when surgeries, hospital stays, or long treatments cannot wait
    • Use it to pay medical bills that health insurance leaves uncovered
    • Choose repayment terms that adjust to your monthly income and spending
    • Rely on quick approvals and minimal paperwork during emergencies
    • Gain access to reputed hospitals and specialists without delaying care
    • Cover the cost of medicines, diagnostic tests, or even post-surgery recovery
    • Apply without needing to pledge assets or savings as security
    • Protect your emergency funds and investments by avoiding early withdrawals
    • Support the medical needs of elderly parents or dependents with ease

    Key Features of Medical Loans in 2025

    Here are the main features that make a loan for medical expenses practical and stress-free in 2025:

    Instant Approval and Quick Disbursal

    Funds are released quickly, often within hours, so treatment can begin without delay.

    Flexible Repayment Tenure

    Choose repayment periods from a few months to several years, depending on affordability.

    No Collateral Needed

    Medical loans are usually unsecured, so there is no need to pledge property or savings.

    Customisable Loan Amounts

    Borrow only the required amount, ensuring you avoid unnecessary debt.

    Simple Documentation

    Basic KYC papers are generally enough, making applications fast and stress-free.

    Prepayment and Foreclosure Options

    Many lenders allow early repayment, helping you save on interest.

    Transparent Charges

    Reputed lenders share all fees upfront, reducing the risk of hidden costs.

    Online Eligibility Check

    Digital tools give instant clarity on eligibility, saving time before applying.

    Coverage Beyond Hospital Bills

    Loan funds can also support medicines, therapy, or post-treatment care.

    24×7 Application Access

    Online systems allow borrowers to apply at any time, even during emergencies.

    Smart Options to Pay for Treatment

    Here are practical ways to manage medical costs in 2025 without adding unnecessary financial stress:

    Personal Loans for Medical Treatment

    Personal loans provide quick lump-sum funds for surgeries, medicines, or aftercare, and the Bajaj Markets financial marketplace allows borrowers to compare lenders and repayment terms conveniently.

    Credit Card EMI Conversions

    Hospital bills already paid with a credit card can be converted into EMIs, easing pressure on monthly finances and making repayments far more affordable for families.

    Medical-Specific Loan Products

    Certain lenders now provide healthcare-only loans with relaxed eligibility and lower rates, and borrowers can easily review such options through the Bajaj Markets financial marketplace.

    Healthcare Financing Programmes

    Many hospitals partner with lenders to offer zero-interest EMI schemes, enabling patients to start treatment immediately without worrying about additional interest charges or delayed medical care.

    Role of Bajaj Markets in Choosing the Right Loan

    Here is how the Bajaj Markets financial marketplace makes it easier to find the right loan for medical expenses:

    • Compare loan offers from multiple lenders in one place without visiting several institutions
    • Check your eligibility and loan options instantly with simple online tools
    • Apply digitally with minimal paperwork, saving valuable time during emergencies
    • Select repayment terms that match your budget and financial comfort
    • Access transparent details on interest rates, charges, and other conditions
    • Make informed choices confidently with all options clearly presented in one marketplace

    Tips Before Applying for a Loan for Medical Expenses

    Here are practical steps to follow before applying for a loan for medical expenses:

    • Borrow only the amount you need to avoid carrying unnecessary debt
    • Check your eligibility in advance using online tools on Bajaj Markets, such as EMI calculators, eligibility checkers, and loan comparison features
    • Compare interest rates carefully, as even small differences can affect total repayment
    • Review the terms in detail to spot processing fees or prepayment charges
    • Assess your repayment capacity honestly to ensure the loan remains manageable
    • Keep documents ready to speed up the application and reduce stress during emergencies

    Conclusion

    Medical emergencies don’t have to drain your savings or cause financial stress. A loan for medical expenses offers timely relief, enabling patients to focus on treatment and recovery. In 2025, platforms like Bajaj Markets have made the process more transparent and accessible by allowing borrowers to compare and choose the most suitable option. With the right financial support, managing healthcare costs becomes a lot less overwhelming.

  • “Not Our Employees,” Says Google, After Laying off 200 Contract Workers Over Pay And Working Conditions

    Google fired over 200 contractors without a warning. These people were working on its big AI projects, like Gemini (Google’s chatbot) and AI Overviews (AI summaries in Google Search). These layoffs are different from their usual ones because there seems to be a lack of accountability. When asked for a response, Google states that these workers are not its employees and are not responsible. Well, one might think, but they worked on Google’s project, right? The issue is complex (with pay disputes and retaliation issues coming to the surface), and here we broke it down for you. 

    Sudden Layoffs Without Warning 

    Notably, these people were working for Google on contract via a company called GlobalLogic (owned by Hitachi). Hence, Google didn’t hire them directly. Google fired these 200 employees suddenly with no warnings, and they were let go in 2 different rounds.

    One worker, Andrew Lauzon, received an email on August 15, 2025, stating that his contract had ended. Upon asking why, Google replied, “ramp-down on the project,” which is a vague statement meaning the project is cut short.

    He told WIRED that he joined in March 2024 and has been working on rating and improving answers given by Google’s Gemini chatbot since then.

    Who Were These Workers?

    Though they were only hired on a contractual basis, they are called “super raters,” meaning highly skilled people who:

    • Evaluated AI responses: This is an important assessment to check how the AI is interacting with the end users.
    • Fixed mistakes: Otherwise, the AI will lose its credibility.
    • Rewrote AI answers: It is vital for an AI in 2025 to sound more natural, engaging, or else the users will have several options in the market.
    • The workers are no ordinary professionals. Many held master’s or PhD degrees in fields such as teaching, writing, and the arts.
    • Their role is significant because Google’s engineers don’t have time to constantly check and fine-tune every answer.
    • One of the workers, while speaking to WIRED, described their role as crucial as “lifeguards on the beach.”

    Unionising, Pay Issues & Retaliation Claims

    It is suspected that these layoffs only came after the workers were trying to form a union. Asking for better pay and working conditions. The complaints include:

    • Huge pay differences → Super raters who are directly hired by GlobalLogic made $28–$32/hour, whereas the contractors on the same task got only $18–$22/hour.
    • Workers faced retaliation → One of the workers was fired for speaking up about wage transparency. And a few others were fired for supporting the move (by contract workers).
    • After learning of the low working standards, about 18 workers had formed a union in December 2024. By February 2025, the number had risen to 60 members.
    • As part of the retaliation, the company banned its online social chat spaces where they connected to speak about the issue (because these employees worked remotely).
    • When one employee, Ricardo Levario (union organizer), was fired minutes after complaining about the chat ban. The reason given was “violating the social spaces policy.”

    Wider Industry Pattern of Layoffs

    Experts say that Google is not alone, and it’s a widely normalized problem in tech outsourcing. According to them, whenever the workers form a union to address the issues, the companies cut jobs as retaliation.

    Several similar movements are happening in the world right now:

    • Recently, in Kenya, AI data labelers came together to form the Data Labelers Association, asking for better pay and mental health support in the workplace.
    • Content moderators across Kenya, Turkey, and Colombia have formed a Global Trade Union Alliance for better working conditions.

    Google’s Response

    A Google spokesperson, Courtenay Mencini, in a statement (quoted by WIRED), said, “These individuals are employees of GlobalLogic or their subcontractors, not Alphabet. As the employers, GlobalLogic and their subcontractors are responsible for the employment and working conditions of their employees. We take our supplier relations seriously and audit the companies we work with against our Supplier Code of Conduct.”

    Fear of Being Laid Off 

    According to WIRED, GlobalLogic is working on developing automation systems to replace these raters and their tasks. One worker said to WIRED that:

    It’s just been kind of an oppressive atmosphere…” if we try to organise or even talk too much, we risk being laid off.”

  • Groww Seeks to Raise INR 6,000–7,000 Crore Through Revised IPO Filing

    Groww, an online investing platform, has submitted a revised draft prospectus for an IPO of INR 6,000–7,000 crore to the Securities and Exchange Board of India (SEBI). The transaction would consist of an offer for sale (OFS) of 574 million shares valued at about INR 5,000–6,000 crore and a new issuance of INR 1,060 crore.

    As previously reported by ET, the Bengaluru-based company plans to IPO in November at a valuation of $7-9 billion. Peak XV Partners, Y Combinator, Ribbit Capital, Tiger Global, and Kauffman Fellows Fund are among the investors taking part in the OFS. One million shares will also be sold by the company’s founders, Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal, who together own 27.96% of the business.

    After submitting confidential draft documents to the market regulator in May, Groww was granted permission by SEBI to proceed with its initial public offering (IPO) last month.

    Groww’s Financial Performance in FY25–FY26

    Kotak Mahindra Capital Company, JP Morgan India, Citigroup Global Markets India, Axis Capital, and Motilal Oswal Investment Advisors are among the issue’s book running lead managers. The company’s net profit increased 11% from the previous year to INR 1,824 crore in FY25 and INR 378 crore in the June quarter of FY26. FY25 revenue was INR 4,056 crore, a 31% increase from the previous year. Groww intends its recent expansion into commodities, wealth management, margin trading facilities (MTF), and loans secured by shares to fuel its future growth.

    The company’s NSE active clientele increased from 10.92 million to 12.58 million as of June 30. Derivative active users decreased 28% year over year in Q1 FY26 as a result of the regulator’s increased scrutiny of futures and options (F&O) trading, while fees and commission income decreased 17.5%.

    Nonetheless, Groww’s average daily turnover increased 18.2% to INR 9,276 crore during that time, and its retail F&O market share increased from 9.69% to 14.43%. After executing a reverse flip of its parent company from the US to India, Groww is one of the first firms to pursue an initial public offering (IPO). Based on a recently determined fair market value, the company paid US taxes of INR 1,340 crore ($160 million), which is 30% less than the $3 billion valuation at which it last raised capital in 2021.

    Future Plans of Groww

    Groww has so far raised roughly $596 million in equity capital, according to Tracxn. As per media reports of March 26, it just secured a $200 million round backed by GIC and Iconiq Capital at a valuation of $7 billion. Subject to SEBI’s clearance, the company has also finalised a deal to pay $150 million in cash to acquire the wealthtech platform Fisdom, which is funded by PayU.

    In addition, it is getting ready to launch W, a new wealth management platform aimed at long-term investors, to compete with rivals like Dezerv and Ionic Wealth, which is financed by Angel One. Groww, which began as a mutual fund investment platform when it was founded in 2016 by former Flipkart executives Keshre, Jain, Singh, and Bansal, is currently the largest stockbroker in India by active clients, according to NSE data.

    The platform added 9.45 million new demat accounts between June 2024 and June 2025, whereas the industry added 36.66 million during the same time frame.

    Quick
    Shots

    •Issue structure: OFS of around INR
    5,000–6,000 crore + fresh issue of INR 1,060 crore.

    •Planned IPO in November at $7–9
    billion valuation.

    •Founders to sell 1M shares; currently
    hold 27.96% stake.

    •Reverse flip from US to India led to
    INR 1,340 crore ($160M) US tax payout.

  • Ford to Slash 1,000 Jobs at German EV Plant as Electric Car Demand Falls Short of Forecasts

    On September 15, Ford Motor Company declared that it would lay off up to 1,000 workers at its Cologne, Germany, electric vehicle production. According to the firm, the decision was made because battery-powered car sales are falling short of projections.

     According to an AP story, the automaker clarified that it will use buyout packages and voluntary departures to try to lessen the impact on workers. Additionally, production will be reduced at the Cologne facility that manufactures the electric Explorer SUV. The facility will switch from two daily shifts to one starting in January.

    Ford: Weak Electric Vehicle Demand in Europe

    EV sales have not increased as rapidly as many automakers had anticipated, despite significant investment. According to the company’s official statement, the demand for electric vehicles in Europe is much lower than what the industry had predicted. This round of layoffs comes after Ford’s November 2024 announcement of its reorganisation plan.

    The corporation announced at the time that it will eliminate roughly 4,000 jobs across Europe and the UK, with 2,900 of those positions being in Germany. Prior to an agreement with the IG Metall union that guaranteed employment for almost 10,000 workers at the Cologne facility until 2032, workers had gone on strike earlier this year, according to news agency AFP.

    About $2 billion (2.3 billion euros) has already been spent by Ford to update the Cologne facility for the manufacture of electric vehicles. Sales momentum has been lower than anticipated, despite the fact that the modifications were done in anticipation of increased demand for low-emission automobiles.

    Why Electric Vehicle Demand is Not Picking up in Europe?

    In Europe, EV adoption has been hampered by high initial costs and a dearth of charging points. The elimination of purchase subsidies in Germany is another factor that has further hindered growth.

    Through July of this year, electric vehicles made up 15.6% of the European market, up from 12.5% the previous year. But the growth hasn’t been as rapid as anticipated. In the first seven months of the year, Ford sold 260,000 cars of all kinds, a slight 0.7% rise. According to the European Automobile Manufacturers’ Association, its market share stuck at 3.3%.

    India’s EV Market: A Contrast to Europe

    The electric vehicle (EV) market in India is expanding quickly thanks to government subsidies, growing environmental awareness, and technology breakthroughs. India hopes to dramatically boost EV adoption through programs like the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme, transforming its transport system in the direction of sustainability and innovation.

    By 2030, India wants to increase the percentage of sales of electric vehicles (EVs) to 30% for private automobiles, 70% for commercial vehicles, 40% for buses, and 80% for two- and three-wheelers. By 2030, there will be 80 million EVs on Indian roadways, which is an ambitious goal.

    Quick
    Shots

    •Production of electric Explorer SUV
    reduced; plant to move from two shifts to one in January 2026.

    •Layoffs to be managed via buyouts and
    voluntary exits to soften impact.

    •Ford cites EV demand in Europe
    falling short of industry forecasts despite heavy investments.

    •$2 billion invested in upgrading
    Cologne facility for EV production, but sales momentum lagging.

  • Dreamfolks Services Suspends Domestic Airport Lounge Access, Warns of Material Business Impact

    One of the major companies in the airport services industry, Dreamfolks Services Limited, has announced a big operational shift that will likely have a big effect on its operations. With effect from September 16, 2025, the corporation has stopped providing its customers with domestic airport lounge services.

    Dreamfolks Services claimed that the termination of domestic airport lounge services will have a significant impact on its business operations in a regulatory filing to the BSE and NSE. This action is a response to the company’s August 29, 2025, revelation that such a change was previously being considered.

    Dreamfolks Services stressed that its other domestic services and worldwide lounge operations will continue to run normally in spite of this major shift. This implies that while reorganising its domestic products, the corporation is keeping some of its service portfolio.

    Dreamfolks Looking for Alternative Options

    Stakeholders have been reassured by the business that current client contracts are still in effect. Affected clients are currently being consulted by Dreamfolks in order to investigate alternate consumer value propositions. Despite the operational changes, the company’s proactive approach shows that it is committed to preserving its client relationships.

    In the regulatory filing, Dreamfolks Services’ Company Secretary and Compliance Officer, Harshit Gupta, said that the disclosure is being made for the sake of investor knowledge, governance, and transparency. The business has promised to keep the lines of communication open with its stakeholders and investors and to provide more updates as they become available.

    Reasons Behind the Dreamfolks Closure

    Access to domestic airport lounges in India has been the mainstay of DreamFolks’ operations, serving as the foundation for the company’s services. But when airport operators and service providers realised they could merely serve banks and card issuers directly—the same customers DreamFolks served as a middleman for—problems started to arise. More recently, DreamFolks’ contract was cancelled by Travel Food Services Ltd due to unsuccessful talks.

    Together, operators like Adani Airport Holdings, GMR Airports, and TFS oversee between 80 and 85% of foot traffic in airport lounges nationwide. DreamFolks lost its most important resource when it lost access to these operators. The company’s shares have fallen more than 65% year-to-date as a result of DreamFolks’ loss of its core business. Additionally, the stock has fallen 72% in a year.

    What Next for Dreamfolks?

    Investors and market analysts will probably be closely monitoring Dreamfolks Services’ business model adaptation in order to evaluate the long-term effects of this strategic change. According to the company’s stated material impact, this adjustment may have a major influence on its financial performance in the upcoming quarters.

    For a thorough grasp of how this operational shift may impact the company’s market position and financial prospects, investors are keeping a close eye on any additional announcements made by the business.

    Quick
    Shots

    •Company warns of significant material
    impact on business operations.

    •Other domestic services and
    international lounge operations remain unaffected.

    •Disclosure made in regulatory filing
    to BSE and NSE for investor transparency.

    •Investors watching closely for
    financial impact in upcoming quarters.

  • PlaySuper Raises $1Million Seed Round to Redefine In-Game Monetization for Free-to-Play and Skill-Based Games

    PlaySuper, a gaming commerce platform that embeds real-world rewards directly into games, has raised $1 million in seed funding to expand its rewards-as-a-service model across India and Southeast Asia.

    The round was led by Singapore-based gaming VC Chimera, with participation from Audacity VC, IAN Capital Fund, and Dhruv Vohra, Meta’s Managing Director for APAC Emerging Markets.PlaySuper, led by CEO Shouradeep Chakraborty, addresses one of gaming’s toughest challenges: sustainable monetization and retention. Traditional in-game ads are underperforming, while cash incentives face regulatory and scalability limits.

    PlaySuper offers a third path by enabling free-to-play and skill-based gaming platforms to integrate branded, non-monetary rewards – from gift cards to consumer products – directly into gameplay.

    The platform has already crossed $350,000 in monthly GMV, with early partners reporting significant improvements in user retention and monetization.“Gaming in India and Southeast Asia is at an inflection point. Ads and cash incentives are no longer enough.

    With PlaySuper, every gaming session becomes a chance to win something aspirational and real, which keeps users engaged while driving commerce at scale,” said Abhir Das, Co-founder & CBO, PlaySuper.

    Speaking on the investment, Krish Anurag, General Partner at Chimera, said:“We see gaming commerce as the next big monetization unlock for emerging markets. PlaySuper has built a category-defining solution that sits at the intersection of gaming, brands, and consumer behavior. Their early traction proves the model, and we believe they are well-positioned to become the backbone of monetization for free-to-play and skill-based games across India and SEA.”

    PlaySuper is building the commerce backbone for the next generation of gaming, positioning itself as the monetization engine for both free-to-play and skill-based games in fast-growing emerging markets.

    About PlaySuper

    PlaySuper is a gaming commerce platform that embeds real-world rewards directly inside mobile games, helping free-to-play and skill-based titles unlock sustainable monetization without disrupting gameplay. Instead of relying on intrusive ads or volatile cash incentives, PlaySuper enables players to earn branded rewards – from gift cards to consumer products- while they play, driving higher retention and engagement for studios. Founded by Shouradeep Chakraborty (CEO), Upamanyu Chatterjee (COO), and Abhir Das (CBO). The trio is building what they call the “commerce layer for gaming”—a plug-and-play SDK that connects millions of gamers with leading brands, transforming gameplay sessions into meaningful shopping moments. With rapidly growing partnerships across India and Southeast Asia, PlaySuper is redefining how games monetize and how brands reach digital-first audience

  • Lucira secures $5.5 Million in Seed Funding led by Blume Ventures

    Lucira Jewelry, a design-first fine jewelry brand redefining sustainable luxury in India, today announced the completion of its $5.5 million fundraise, the largest ever seed round raised by a jewelry startup in the country to date. The round was led by Blume Ventures and Spring Marketing Capital, with participation from SiriusOne Capital Fund and a network of marquee angel investors including founders of Dot & Key, Livspace, Snitch, and Bewakoof.com.

    Founded by jewelry veterans Rupesh and Vandana Jain, Lucira is on a mission to disrupt India’s fine jewelry market by blending world-class design, sustainability, and trust. The fundraise marks a high-conviction bet on Rupesh Jain’s “second innings” after building Candere into one of India’s earliest digital jewelry success stories, later acquired by Kalyan Jewellers.

    Rupesh Jain, Co-Founder, Lucira expressed, “This fundraise is a strong validation of the white space we see in India’s fine jewelry market. Indian consumers are moving beyond buying jewelry only for investment, they are seeking design, authenticity, and a brand they can emotionally connect with. With this backing, we aim to make Lucira the most trusted design-first fine jewelry brand from India.”

    In a short span since launch, Lucira has created a portfolio of more than 1,000 customizable lab grown diamond designs, each certified by IGI / GIA / SGL / BIS and backed with lifetime exchange and buyback guarantees.

    The brand is launching its first retail store in Mumbai this month, signalling the beginning of its retail journey. With fresh capital, Lucira plans to open four new flagship stores by the end of FY2026, further strengthening its digital-first buying experience, and investing in technology-led personalization.

    “Rupesh has already proven his ability to build and scale in this category with Candere’s successful exit,” said Karthik Reddy, Managing Partner at Blume Ventures. “What excites us most is Lucira’s omnichannel vision that is seamlessly blending cutting-edge digital experiences with physical retail. The speed of execution, combined with Rupesh’s deep understanding of Indian jewelry consumers, makes Lucira a strong contender to build the next category-defining brand.”

    Building for the Long Term

    The fresh capital will power Lucira’s next phase of growth. Plans include opening new flagship retail stores in FY2026, enhancing its digital-first customer journey, and strengthening its technology backbone. The company is also investing in scaling its design studio and hiring top talent to build a culture of craftsmanship and innovation.

    “Our vision is to cement Lucira as India’s most design-first fine jewelry brand, and that requires building strategically on three fronts, design leadership, omnichannel presence, and consumer trust. This fundraise is a vote of confidence from partners who understand we’re not just selling jewelry, we’re shifting mindsets.” added Rupesh Jain. “We’re investing heavily in our design studio, scaling physical retail alongside digital, and ensuring every piece comes with trusted certification and guarantees. This structured approach is how we see Lucira becoming the go-to fine jewelry brand for a new generation of Indian consumers.”

    Cumulative Ventures acted as the sole advisor to the transaction. Novolex served as legal advisor to Lucira Jewelry.

    About Lucira

    Lucira is a modern design-first fine jewelry brand redefining what luxury means for today’s conscious consumer. Founded by Rupesh Jain, Lucira blends ethical craftsmanship with digital-first innovation to create jewelry that celebrates life’s most meaningful moments.Currently available online with nationwide delivery, the brand will soon debut flagship experience stores across key metros, followed by an aggressive two-year roadmap for phased omnichannel expansion. Made with certified lab-grown diamonds, recycled gold and transparent practices, Lucira proves sustainability and sophistication can coexist, crafted for those who choose meaning over materialism.