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SoftBank Looking To Merge Ola And Uber?

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After selling it’s South Asian Business to Grab, global ride hailing startup Uber may reportedly merge with the Bengaluru based cab aggregator Ola with SoftBank playing the role of a matchmaker.

According to sources close to the development, Japanese investment giant SoftBank, called for a merger between the two startups and the final details would be revealed during the coming months. Reuters reported, executives from Uber and Ola met at least twice over the last 12 months, the most recent being Uber CEO Dara Khosrowshahi’s visit to India in February.

However, before news surfaced regarding the merger, Khosrowshahi claimed the company was a 100% committed to the Indian market. “We continue to make aggressive strides in India and we consider India as one of our forts. How we perform as a company after 10 years very much depends on our success in India,” he added. But if the company is planning to go public in 2019, it is essential for the company to curb its losses.

While both the spokespersons for Uber and SoftBank declined to comment about this development, an Ola spokesperson said in a statement, “In India’s transformative digital journey, Ola will always be an active and integral part for decades to come. SoftBank and all other investors are committed in realising this ambition.

The Business Standard reported SoftBank is in favor of an acquisition but both the companies are looking at having a controlling stake in the combined entity. As per a report by Counterpoint Research, Uber, which currently operates in 30 Indian cities has more than 35% share of the taxi market. Ola, on the other hand, has more than 45% market share, operating in 110 cities.

Speaking about a potential merger in the Indian market, Dara Khosrowshahi remained cryptic and said, “We will look at any deals that can add value to its partners and shareholders, but we believe in controlling our own destiny in India.” Currently, India is among Uber’s top three markets following the United States of America and Latin America, accounting for 10 percent of its trips globally.

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Artificial Intelligence

Adopt AI Secures $6 Million to Power No-Code AI Agents for Business Automation

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Adopt AI

Adopt AI, a San Jose and Bengaluru-based agentic AI startup, has raised $6 million in seed funding led by Elevation Capital, with participation from Foster Ventures, Powerhouse Ventures, Darkmode Ventures, and angel investors. The funding will be used to expand the company’s engineering and product teams and to scale enterprise deployments of its automation platform.

 

Founded by Deepak Anchala, Rahul Bhattacharya, and Anirudh Badam, Adopt AI offers a platform that lets businesses automate workflows and execute complex actions using natural language commands, without needing to rebuild existing systems. Its core products include a no-code Agent Builder, which allows companies to quickly create and deploy AI-driven conversational interfaces, and Agentic Experience, which replaces traditional user interfaces with text-based commands.

The startup’s technology is aimed at SaaS and B2C companies in sectors like banking and healthcare, helping them rapidly integrate intelligent agent capabilities into their applications. Adopt AI’s team includes engineers from Microsoft and Google, with Chief AI Officer Anirudh Badam bringing over a decade of AI experience from Microsoft.

The company has also launched an Early Access Program to let businesses pilot its automation solution and collaborate on new use cases.

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PayU Gets Final RBI Nod to Operate as Payment Aggregator Ahead of 2025 IPO

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PayU

PayU India, owned by Prosus, has received final approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator, a year after getting in-principle approval in April 2024. This authorization allows PayU to onboard new merchants and offer digital payment solutions, joining other major players like Razorpay, CCAvenue, and BillDesk.

The RBI’s nod comes as PayU prepares for its planned IPO in the second half of 2025, following a delay from its original 2024 timeline due to market conditions. The company, which serves over 450,000 merchants, reported $319 million in revenue from its core payments and credit business in the first half of FY25.

PayU stated that the approval will help it build a resilient, compliant, and innovation-driven institution, supporting merchants of all sizes and advancing the Digital India vision. The company has also strengthened its risk management and expanded its presence in real-time payments through a strategic stake in Mindgate Solutions.

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Funding

Flam Secures $14M Series A to Revolutionize Mixed Reality Marketing with AI

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AI infrastructure startup Flam has raised $14 million in a Series A round led by RTP Global, with participation from Dovetail and existing investors, bringing its total funding to $22 million. Founded in 2021, Flam enables brands to create and deliver high-fidelity mixed reality (MR) and generative AI experiences without the need for app downloads, allowing consumers to access immersive content via QR codes or links in under 300 milliseconds.

Flam’s platform is already used by over 100 global brands-including Google, Samsung, and Netflix-reaching more than 380 million users. The new funding will accelerate product innovation, expand operations in North America, Europe, and Asia, and launch a full-stack enterprise suite for MR and GenAI-driven marketing. The company currently has over 120 employees and plans to grow to 180 by the end of 2025, aiming to transform every brand touchpoint into an interactive digital experience.

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