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ServiceNow invests $40M in BusinessNext to expand banking AI

ServiceNow has invested $40 million in Indian banking software specialist BusinessNext, valuing the 24-year-old firm at $700 million and taking roughly a 5% stake. The funding cements a strategic partnership to jointly sell AI-driven banking workflow solutions and gives BusinessNext access to ServiceNow’s global sales network. BusinessNext, profitable and based in Noida, generated about $32 million in revenue in its latest financial year, serves more than 70 banks across India, Southeast Asia, the Middle East and the U.S., and employs over 1,300 people. The company — formerly CRMNext — has built an "autonomous banking" platform using AI agents and private AI infrastructure to meet regulatory and privacy requirements. BusinessNext has previously raised over $60 million and counts investors such as Avataar Ventures, Norwest Venture Partners and Ascent Capital.

Ultrahuman says hackers accessed customers' wellness data

Ultrahuman, an India-based wearable health-tech startup, disclosed that attackers gained unauthorized access to a system used for internal analytics after stealing an employee’s credentials via malware. The company said the intrusion occurred on March 27, was detected within hours, and the affected system was taken offline with access revoked. Ultrahuman reported the attackers obtained "read-only" access and said wellness data for about 0.1% of users was accessed — roughly 700 customers based on a previously reported ~700,000 monthly active users — though it declined to confirm the exact number or whether data was exfiltrated. Ultrahuman said no passwords, payment information, production systems, or physical Ring devices were compromised. CEO Mohit Kumar said the company is notifying regulators and delayed user notifications while auditing scope. Ultrahuman counts Nexus Venture Partners, Steadview Capital and Blume Ventures among its investors and has raised about $103 million to date.

General Catalyst Leads $63M Round in Indian Travel Fintech

Scapia, an Indian travel-focused fintech that combines travel booking, co-branded credit cards and UPI-based mobile payments, raised $63 million in an all-equity funding round led by General Catalyst with participation from existing investors Peak XV Partners and Z47. The round values Scapia at more than $500 million post-money, more than double its April 2025 valuation of around $200 million. Founded in 2022 by former Flipkart executive Anil Goteti, Scapia has raised $126 million to date and employs about 250 people. The company reported rapid user and booking growth over the past year (flight bookings ~6x, hotel bookings ~8x, customer growth ~7x) and offers a dual-network co-branded card (Visa + RuPay) through partners including Federal Bank and BOBCARD. Proceeds will be used to expand products and hire AI-focused engineering and product talent amid a selective fintech funding environment in India.