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Infibeam Avenues to launch global agentic AI marketplace

EntrackrEntrackr · 2m ago
Infibeam Avenues to launch global agentic AI marketplace
Medial

Fintech platform Infibeam Avenues Ltd is preparing to launch a global marketplace focused on Agentic AI, according to PTI. The new platform, developed under its AI division Phronetic.AI, will allow users—ranging from enterprises to individual users—to build, buy, sell, and operate autonomous AI agents without coding. These AI agents are designed to perform various tasks across sectors such as finance, customer service, and logistics. The company aims to provide a no-code solution for task automation and workflow execution through this marketplace. Infibeam had previously acquired a 54.1% controlling stake in Rediff.com in 2023. The acquisition led to Infibeam founder Vishal Mehta being appointed chairman of Rediff. While initial plans included relaunching Rediff as a digital finance hub with services like RediffPay and RediffOne, the company has simultaneously been working on this Agentic AI platform. This move represents Infibeam’s re-entry into the marketplace space, with a focus on AI-driven applications. Vishal Mehta, an MIT and Cornell alumnus and former Amazon executive, is leading the initiative. Infibeam had earlier shifted its focus from e-commerce to fintech, with CCAvenue growing into one of India’s largest payment gateway platforms. The Agentic AI marketplace is expected to be launched soon.

Infibeam’s Rediff.com secures NPCI license to offer UPI services

EntrackrEntrackr · 5m ago
Infibeam’s Rediff.com secures NPCI license to offer UPI services
Medial

Infibeam’s Rediff.com secures NPCI license to offer UPI services Infibeam Avenues announced that its subsidiary, Rediff.com, has received a Third-Party Application Provider (TPAP) license from the National Payments Corporation of India (NPCI) for its digital payment platform, RediffPay. According to the company, NPCI's official communication confirmed the approval, with Axis Bank serving as the Payment System Provider (PSP). This license enables RediffPay to offer Unified Payments Interface (UPI) services to its users, marking Infibeam Avenues' strategic entry into the consumer-facing digital payments sector. The company had previously applied for the TPAP license following its acquisition of a controlling stake in Rediff in 2024. In August 2024, Infibeam Avenues acquired a 54% stake in Rediff.com India to relaunch Rediff.com as a consumer-facing digital financial services aggregator. “We are thrilled that our subsidiary has received the TPAP license from NPCI, allowing us to extend UPI services through RediffPay. This milestone aligns with our vision to enhance financial inclusivity and offer seamless digital payment solutions to consumers across India,” said Vishal Mehta, Chairman and MD of Infibeam Avenues. RediffPay aims to leverage Rediff's substantial web traffic and Infibeam's fintech expertise to provide a user-friendly platform for secure and efficient digital transactions. The company plans to introduce a range of financial services, including credit and wealth management products, to cater to the diverse needs of its users. This development follows Infibeam Avenues' recent achievements, including receiving final authorization from the Reserve Bank of India to operate as a Payment Aggregator for its flagship payment gateway brand, CCAvenue. Infibeam’s revenue from operations spiked to Rs 1,070 crore in Q3 FY25 from Rs 907 crore in Q3 FY24. The company’s profit after tax rose 50% to Rs 64.4 crore during the period.

Rediff.com Appoints Vishal Mehta as Chairman and Managing Director Following Majority Stake Acquisition by Infibeam Avenues Ltd.

VCCircleVCCircle · 9m ago
Rediff.com Appoints Vishal Mehta as Chairman and Managing Director Following Majority Stake Acquisition by Infibeam Avenues Ltd.
Medial

- Vishal Mehta appointed as Chairman and Managing Director of Rediff.com after Infibeam Avenues Ltd's majority stake acquisition. - Mr. Mehta will also continue to serve as Chairman and MD of Infibeam Avenues Ltd. - Ajit Balakrishnan, previous Rediff.com MD, expresses confidence in Mehta's ability to drive growth and innovation. - Mehta brings expertise in digital innovation and strategic business development, having worked at Amazon and founded Infibeam. - Rediff.com aims to tap into its extensive consumer base to offer AI-powered financial products, leveraging Infibeam's regulatory compliance expertise. - Infibeam Avenues' acquisition of a majority stake in Rediff.com marks a significant milestone for both companies.

Infibeam Avenues partners EDII to drive AI adoption

EntrackrEntrackr · 1y ago
Infibeam Avenues partners EDII to drive AI adoption
Medial

Infibeam Avenues has signed a Memorandum of Understanding (MoU) with the Entrepreneurship Development Institute of India (EDII), to drive AI adoption among enterprises, startups, and MSMEs. As part of the MoU, Infibeam has implemented and deployed its THEIA Platform which will provide EDII’s students and entrepreneurs with tools to develop their own AI products, as per the firm’s press release. Infibeam’s collaboration will initially focus on three key programs: the ‘Start-up Accelerator Programme’, the ‘AI Implementation Programme’, and the ‘MSME Support Programme’. This collaboration aims to inject a dynamic factor into entrepreneurial ventures by integrating AI and tech solutions. In the future, only those entrepreneurs who embrace digitalization and Artificial Intelligence as integral parts of their business operations will thrive and achieve sustainable growth,” said Vishal Mehta, chairman and managing director, Infibeam Avenues. Besides THEIA Platform, the Ahmedabad-based company also integrated ‘AI Facility Manager’, which collects data including visual data from campus CCTVs, facilitating the monitoring of authorized and unauthorized entries or exits. This platform will also include security management, resource management, occupancy or space monitoring, energy management amongst others at EDII’s campus. According to the press statement, Infibean would also facilitate business development opportunities for startups, MSMEs, and EDII beneficiaries utilizing the AI solutions developed under this initiative.

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