Elon Musk’s X Money app is rolling out in the U.S.

Source: Tech Crunch

Elon Musk’s X Money app is rolling out in the U.S.

Startups

X is launching X Money for paid US subscribers, offering a Visa debit card with Apple Pay integration and free peer-to-peer transfers. Premium+ and Premium users can earn 6% APY, with the latter requiring direct deposit. The app also provides up to 3% cash back and free worldwide ATM withdrawals. This move aligns with Elon Musk's ambition to transform X into an "everything app" for financial services.

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Data centers may face temporary power cuts to prevent blackouts on largest US grid

Startups

"PJM Interconnection, the largest U.S. electrical grid operator, will begin curtailing power to data centers of 50 megawatts or larger during shortages starting June 2027. This decision follows a failed auction for generating capacity amid surging electricity demand from data centers. Affected users will receive compensation, though the move may increase reliance on costly, polluting diesel generators as operators seek on-site power to avoid potential outages.".

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Vishal Mega Mart Doubles Down On Quick Commerce Amid Retail Shift

Business

"Vishal Mega Mart is expanding its quick commerce services to 767 stores across 520 cities, reaching 1.4 crore registered users. The initiative, offering 30-minute deliveries, contributes 2% to 9% of store revenue, with many locations hitting a 5% target. By leveraging existing stores instead of dark stores, the retailer has attracted new customers, contrasting with DMart's strategy of avoiding ultra-fast deliveries to prioritize low pricing.".

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Centre Sets Up Inter-Ministerial Group To Form Financial Cybersecurity Strategy

Business

The Indian government has established an inter-ministerial group to develop a comprehensive cybersecurity strategy for the financial sector. This move addresses rising AI-driven threats, including deepfakes and sophisticated phishing, which Finance Minister Nirmala Sitharaman warned could destabilize the industry. Additionally, the government is utilizing the India Digital Payment Intelligence Corporation to detect real-time fraud, complementing existing frameworks like CERT-In to safeguard India's digital payment ecosystem.

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PayPal leaves the door open to a higher takeover offer following earnings beat

Startups

PayPal CEO Enrique Lores indicated the company remains open to Stripe’s $53.4 billion takeover bid if it offers superior shareholder value. While Stripe offered $60.50 per share, analysts suggest a value closer to $70. PayPal recently reported strong Q2 2026 earnings, beating profit and revenue estimates. Simultaneously, the company is pursuing an AI-focused turnaround strategy to streamline operations and achieve $1.5 billion in cost savings.

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WhatsApp now lets you make calls using its web app

Startups

Meta is expanding WhatsApp's calling capabilities by introducing audio and video calls to WhatsApp for Web, including screen-sharing and reactions. New updates allow users to transfer calls between devices and implement waiting rooms for group calls via approval links. Additionally, the platform now features background noise suppression and immediate high-definition video. WhatsApp is also rolling out usernames to facilitate easier calling across different platforms.

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Cursor Doubles Down On India, Launches India-Specific AI Coding Plan

Business

AI coding platform Cursor has launched "Cursor Start," a subscription plan exclusively for India priced at ₹649 per month. This move follows SpaceX's $60 billion agreement to acquire the startup. The plan offers Grok 4.5 and cloud agents to India's growing developer base, which has tripled to 3 million. This expansion reflects a broader trend of global AI firms targeting the Indian market, projected to reach $126 billion by 2030.

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Flipkart’s Ekart Opens Logistics Network To D2C Brands Via Franchise Model

Business

Flipkart Group’s supply chain arm Ekart has opened its pan-India logistics network to MSMEs, D2C brands, FMCG companies, and enterprises,.

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Fish Audio raises $50M seed to build AI voice models for creators and enterprises

Startups

Fish Audio, a Palo Alto startup specializing in expressive AI voice models, has raised $50 million in seed funding led by Coreline Ventures and Capital Today. With over 8 million users and $21 million in annual recurring revenue, the company offers natural language controls for creators and enterprises. Despite facing challenges regarding voice consent, Fish Audio is expanding its product line to include audio understanding and speech-to-speech models.

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Apple launches ‘Upgrade’ device leasing program in partnership with Klarna

Startups

Leasing prices start at $17.99 per month for iPhone, $11.99 for Apple Watch, $24.99 for Mac, and $11.99 for iPad.

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Recursive Superintelligence signs $410 compute deal with Amazon

Startups

Recursive Superintelligence has announced a $400 million compute deal with Amazon Web Services to scale its open-ended self-improving AI systems. The company prioritizes compute resources over headcount to automate product development. While AWS is not investing, the two entities will co-develop specialized infrastructure. Recursive, which raised $650 million in May, expects to release its first tangible, useful AI products to the public by October.

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Granola launches an Apple Watch app

Startups

"AI note-taking app Granola has launched an Apple Watch application to allow users to record and transcribe meetings without needing their smartphones. The app integrates with watch faces and provides meeting reminders, facilitating hands-free capture during in-person interactions. This move follows Granola's recent unicorn status after a $125 million Series C funding round. The company chose watch integration over developing proprietary hardware to streamline the user experience.".

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Delhi HC Orders Winding Up Of Paytm Payments Bank

Business

The Delhi High Court has ordered the winding up of Paytm Payments Bank, appointing former SBI executive Girikumar M. Nair as the official liquidator. This follows the RBI's April decision to revoke the bank's license due to persistent regulatory non-compliance and governance lapses. While banking operations end, the court-supervised process aims to protect customers. Meanwhile, Paytm has migrated its digital payments to partner banks and seeks a new wallet license.

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BigBasket losses widen as revenue grows marginally in FY26

Startups

BigBasket, Tata Digital's online grocery arm, reported a 66% increase in losses to Rs 3,073 crore for FY26, despite a 7.7% revenue rise to Rs 8,223 crore. The company faces intense competition from quick commerce rivals like Blinkit and Zepto. Meanwhile, Tata Digital reported a total loss of Rs 4,974 crore and plans to refocus the Tata Neu app on financial services, loyalty, and insurance expansion.

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Pine Labs Q1 net profit jumps 4X, revenue up 20%

Startups

Pine Labs reported a significant profit jump in Q1 FY27, with profit after tax reaching Rs 20 crore, a fourfold increase year-on-year. Revenue grew 20% to Rs 737 crore, driven by increased merchant digitization and UPI adoption. The fintech company expanded its international presence across 22 countries, seeing revenue rise 21%. Additionally, Pine Labs launched new payment protocols and credit lines on UPI to strengthen its market position.

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CrisprBits is using CRISPR to build faster tests for drug-resistant infections

Startups

CrisprBits, a Bengaluru-based company founded in 2020, utilizes CRISPR technology to combat antibiotic resistance. Its primary platform, PathCrisp, enables early detection of hospital-acquired infections to reduce broad antibiotic prescribing. After raising $3 million in a pre-Series A round, the company plans to expand into Africa and Latin America. Additionally, CrisprBits is partnering with JNCASR to establish a Centre of Excellence for CRISPR innovation and translation.

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Decode Age sells gut microbiome tests and supplements built around the biology of ageing

Startups

Bengaluru-based Decode Age focuses on measuring biological aging through gut microbiome sequencing and biomarkers. The company offers testing, research, and longevity supplements, with revenue growing to ₹11.9 crores in FY24. After appearing on Shark Tank India, it raised ₹14.48 crore in a pre-Series A round to expand its research and infrastructure. Decode Age partners with the Indian Institute of Science to advance longevity studies.

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Cellogen Therapeutics is developing CAR-T cell therapies for blood cancers in India

Startups

Cellogen Therapeutics, a New Delhi-based company, is developing affordable CAR-T and gene therapies for blood cancers and inherited blood disorders. Utilizing an in-house manufacturing facility in Noida, the company aims to reduce costs and target two cancer markers to prevent relapse. Backed by investments from Natco Pharma and Kotak, Cellogen plans a Phase I trial with Christian Medical College, Vellore, targeting a price of $60,000 to $70,000.

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TrusTerra is building a battery health score to make used electric vehicles resellable

Startups

TrusTerra, founded in 2024, aims to revitalize India's used electric vehicle market by introducing TruEV Score, a standardized battery health rating. This tool helps buyers, dealers, and insurers accurately price EVs, reducing depreciation and uncertainty. Having raised Rs 9 crore in pre-seed funding, the company plans to expand its marketplace to 20 cities and certify 20,000 vehicles within 18 months to establish an industry-wide valuation standard.

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Nykaa appoints Ankit Jain to lead quick commerce arm Nykaa Now

Startups

Nykaa has appointed Ankit Jain, a supply chain veteran from Unilever and Swiggy's Instamart, to lead its quick-commerce vertical, Nykaa Now. The company aims to expand its 30-60 minute delivery service nationwide by FY30. Additionally, Nykaa is targeting same-day or next-day delivery for 90% of orders via "Nykaa Next Day" and leveraging its retail stores for "Nykaa Express" to provide hyperlocal deliveries within three hours.

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