How agentic AI can shoot up sales; PayU gets more fresh equity

Hello,

Here comes the sun, doo-dun-doo-doo

First, for some positive news: the Sun is now increasingly becoming the go-to source of energy for millions across the world. Last year, 96% of the global demand for new electricity was met by renewables, according to an article in The New Yorker, with solar leading the pack.

Did you know that the photovoltaic solar cell was invented in 1954? And, it took until 2022 for the world to install a terawatt of solar power, whereas the second terawatt came just two years later, and the third will likely arrive by next year. 

Meanwhile, Indian renewable energy firm SAEL Industries Ltd will invest around $954.04 million to build a 5-gigawatt (GW)-per-year integrated solar cell and module manufacturing facility in Uttar Pradesh, Reuters reports.

Elsewhere, China-based BYD is catching up with Tesla in the global EV race, thanks to a narrowing technology gap. 

Speaking of Tesla, the EV giant officially entered India on Tuesday with the launch of its first experience centre at the Maker Maxity Commercial Complex, in Bandra Kurla Complex, Mumbai.

It will start offering the Model Y, with prices starting at Rs 59.89 lakh (ex-showroom). The electric SUV is currently available in a rear-wheel-drive (RWD) configuration only. The standard Model Y RWD variant is priced at Rs 59.89 lakh, while the Long Range RWD version comes in at Rs 67.89 lakh.

In today’s newsletter, we will talk about 

• AI turning leads into sales
• PayU gets more fresh equity
• Reshaping wedding planning in India

Here’s your trivia for today: Which maritime explorer gave the Pacific Ocean its name?

Startup

AI turning leads into sales

Bengaluru-based Zigment is an AI startup that helps businesses talk to customers and increase sales through smart voice and chat agents. These agents can work on WhatsApp, calls, emails, and websites. 

Zigment’s core offering is its Conversation Graph, a system that tracks every message, click, and call in a single ‘queryable’ timeline, wherein users can type prompts into a search box and quickly find specific information from past conversations.

Smart conversions:

• Zigment provides omnichannel engagement, automating workflow steps like lead qualification, follow-ups, and CRM updates, and unifying data from multiple systems.
• The startup serves more than 30 B2B clients, including Tata Motors, Bajaj Auto, Dr Batra’s, and US-based nonprofit Give.org. The company has also partnered with Meta and Google, making it easy for clients to integrate with their platforms.
• While Zigment’s agents can already hold Phone audio conversations and trigger backend automations such as sending WhatsApp brochures in real time, Zigment is preparing for wider deployment of its voice features.

Funding Alert

Startup: Fractal Analytics

Amount: $172M

Round: Secondary share sale

Startup: PayU

Amount:  Rs 303 Cr

Round: Equity

Startup: Muffin Green Finance

Amount: $6.5M

Round: Debt

Funding

PayU gets more fresh equity

Indian digital payments firm PayU India has raised Rs 302.88 crore in fresh equity from its Netherlands-based parent entity, MIH Payments Holdings BV, a financial holding company owned by Prosus.

Key takeaways:

• According to regulatory filings, PayU allotted 48.68 million fully paid equity shares at Rs 62.21 apiece—including a nominal value of Rs 10 and a premium of Rs 52.21 per share—on June 26.
• PayU India saw its aEBIT (actual consolidated earnings before taxes) loss increase from $32 million in 2024 to $44 million in 2025. Revenue, however, increased 21.41%—from $551 million in FY24 to $669 million.
• PayU earlier acquired a 70% stake in Mindgate Solutions, a real-time payments technology firm, for $68 million. The acquisition is expected to enhance PayU’s UPI capabilities and operational efficiencies.

Startup

Reshaping wedding planning in India

To most middle-income families, professional wedding services remain inaccessible as planners charge 8-10% of the budget. Limited technology adoption further adds to the chaos.

The Wedding Company enables couples to manage their entire wedding journey online, including venue bookings, décor, bridal styling, photography, and catering. Its flagship product, the Instant Wedding Proposal Tool, provides couples with a comprehensive proposal outlining suggested venues, design themes, and an itemised budget.

News & updates

• New chip: Broadcom’s chip unit unveiled on Tuesday a new networking processor that aims to speed artificial intelligence data crunching, which requires stringing together hundreds of chips that work together.
• AI training: WeTransfer has confirmed it does not use files uploaded to its service to train AI models. The file-sharing company had received lots of criticism from customers on social media after changing its terms of service, which some interpreted as allowing it the right to use files for AI training.
• Clean energy: Google has agreed to secure as much as 3 gigawatts of US hydropower in the world’s largest corporate clean power pact for hydroelectricity, the company said on Tuesday, as Big Tech pursues the expansion of energy-hungry data centres.

Which maritime explorer gave the Pacific Ocean its name?

Answer: Ferdinand Magellan

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