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Axis Bank Acquires FreeCharge

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India’s third largest private sector lender Axis Bank, will be acquiring the digital payments platform FreeCharge, which is owned and operated by Jasper Infotech. Sources close to the deal reported the board of Snapdeal has agreed to sell their digital wallet to the private sector lender and an official announcement will be made in the next few days.

This proposed deal will value FreeCharge at Rs. 385 crores to Rs. 390 crores, which is a steep plunge from the Rs. 2,400 crores Jasper Infotech paid to acquire the company in 2015. At the time Jasper Infotech bought FreeCharge, this deal was called the largest deal in the nascent startup ecosystem in India.

The Economic Times reported, according to sources close to Jasper Infotech, the board of the ecommerce company is also expected to approve the sale of its online market space Snapdeal, to rival Flipkart in the next few days.

The transaction will give Snapdeal the much needed breathing space to the Snapdeal management which has struggled to raise funds for over a year. The parent company Jasper Infotech has also been in talks with various other companies over the sale of their digital payments arm. Amazon was the latest on the list of interested companies with a higher offer along with Paytm, Airtel, Times Internet and PayPal.

This will also be a strategic acquisition for Axis Bank, who have their own mobile wallet, Lime. They reported a 16% year on year decline in their June 2017 quarter. This acquisition will provide Axis Bank with access to high quality technology and to about 50 million FreeCharge mobile wallet holders.

FreeCharge, which hit the markets to raise funds separately last year, passed up at least two funding rounds due to differences between board members. The digital payments app was unable to keep up with the competition from other homegrown wallet providers like PayTM and MobiKwik, post demonetization. The Snapdeal board agreed to sell the digital wallet platform and their logistics arm Vulcan Express separately.

Law firm Cyril Amarchand Mangaldas and J. Sagar Associates represent Axis Bank and FreeCharge respectively, and no investment banks were contacted for the deal.

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CoRover Unveils BharatGPT Mini: India’s First Offline Multilingual AI

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CoRover has launched BharatGPT Mini, India’s first offline multilingual AI model, at VivaTech 2025 in Paris, with the event officiated by Union Minister Jitin Prasada. This innovative Small Language Model (SLM), featuring around 534 million parameters, is specifically designed for edge devices and low-compute environments, enabling robust AI capabilities without the need for cloud connectivity. Its ability to function entirely offline and support 14 Indic languages makes it a powerful tool for digital inclusion, particularly in rural and remote regions where internet access is limited.

BharatGPT Mini’s architecture is optimized for deployment across various sectors, including healthcare, education, banking, and governance, allowing citizens to interact with essential services in their native languages. The model can be integrated into small businesses, government offices, and other organizations through the CoRover Builder platform, which offers a no-code solution for deploying AI assistants across web, telephony, and IoT systems. By processing data locally and encrypting it on-device, BharatGPT Mini ensures strong privacy and data sovereignty, aligning with India’s strategic goal of developing indigenous AI solutions. 

The launch has garnered strong support from both the Indian government and industry leaders, who see BharatGPT Mini as a catalyst for democratizing access to digital services. CoRover anticipates significant growth in the adoption of Small Language Models, with early feedback indicating a substantial increase in project demand. As CoRover looks to expand its expertise globally, BharatGPT Mini stands out as a scalable, multilingual, and privacy-centric solution, setting a new standard for inclusive and sovereign AI innovation in India’s diverse landscape.

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Kerala Startup E-Quark Launches Innovative Mobile Holder with Built-In Charger

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Kerala-based startup E-Quark Molecule Innovations Pvt Ltd, headquartered in Thrissur, has introduced an innovative device called Keratin that combines a mobile phone holder with a built-in charger. This unique gadget is designed to offer users a convenient solution to hold and charge their smartphones simultaneously, addressing the common challenge of managing power supply while using mobile devices.

The device enhances user experience by integrating two essential functions into one compact design. It securely holds the phone while providing efficient charging, making it perfect for use on desks, bedside tables, or other personal spaces where easy access and power are needed. This innovation aligns with the growing trend of multifunctional mobile accessories that prioritize both convenience and practicality.

E-Quark Molecule Innovations is a key player in Kerala’s dynamic startup ecosystem, which has been rapidly expanding in tech-driven areas such as electric vehicle charging infrastructure. With the launch of this mobile holder-charger, the company is establishing itself as a leader in user-centric mobile accessories, further cementing Kerala’s position as a hub for cutting-edge technology development.

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New Instagram Features Let Users Customize Profiles and Share Quietly

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Instagram is rolling out two major features in June 2025 that promise to give users unprecedented creative control and privacy: grid rearranging and silent posting. The long-awaited grid rearranging tool allows users to freely drag and drop posts anywhere on their profile grid, breaking away from the traditional chronological order. This means users can now curate their profiles for a more visually appealing or thematic presentation, without the hassle of deleting and reposting content—an update especially welcomed by brands, creators, and anyone meticulous about their digital aesthetic.


In tandem, Instagram is introducing the “Post quietly to profile” feature, which lets users add photos and videos to their grid without notifying followers or pushing the content to their feeds. This silent posting option is ideal for those who want to document moments privately, experiment with new content, or maintain a cohesive grid without spamming their audience. It’s designed to reduce the pressure of public sharing, making Instagram a more comfortable space for personal expression and experimentation.

 

These updates reflect Instagram’s commitment to user empowerment and flexibility, responding directly to years of feedback. As Instagram head Adam Mosseri stated, the goal is to help users “create and share without added pressure,” giving them more freedom over how their content appears and how they engage with their audience.

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