Blog

New Delhi, May 21: PaySprint, a unified FinTech and banking infrastructure platform, has strengthened its trust and compliance framework with ISO 27001, SOC 2 Type II and PCI-DSS. The milestone reinforces the company’s commitment to building secure, scalable and enterprise-ready digital financial infrastructure for banks, NBFCs, enterprises, startups and digital-first businesses.

The development comes at a time when businesses across banking, payments, verification, escrow, embedded finance and RegTech are increasingly relying on API-led platforms to power critical financial, transactional and identity-led operations. As India’s digital finance ecosystem expands, security, compliance, data protection and operational resilience are becoming key decision-making factors for institutions choosing infrastructure partners.

For PaySprint, the milestone strengthens the company’s compliance-led approach and adds another layer of trust for partners and customers who rely on its platform to manage sensitive financial, transactional and identity-related workflows. It reflects the company’s focus on embedding security, governance and reliability into the core of its technology systems, business processes and operational infrastructure.

A key part of this achievement is PaySprint’s PCI-DSS compliance, which is considered one of the more rigorous security validations for companies operating in payment-led and financial technology environments. The process typically involves a detailed assessment of how an organisation stores, processes and transmits cardholder data, along with a review of its broader security controls, systems and business processes. For a fintech infrastructure company, this adds further credibility to its ability to support partners operating in highly sensitive and regulated payment ecosystems.

Founded in 2020, PaySprint is a unified platform service provider delivering a complete ecosystem of banking, payments, verification, escrow and contract management services. The company powers 5,100+ partners through 200+ API solutions and 7 core product verticals spanning banking, payments, verification, escrow and contract management. Its platform is designed to help businesses move money, establish trust and manage transactions quickly and confidently.

The strengthened compliance framework supports PaySprint’s key platforms, including SprintNXT, SprintVerify, SprintOPN, SprintEXcrow and SprintEX-Code. These platforms enable businesses across business banking, digital verification, payments, escrow solutions, software escrow and contract management, where security, reliability and governance are central to customer confidence.

Speaking on the milestone, S. Anand, Founder & CEO, PaySprint, said, “The future of digital finance will be built on trust. At PaySprint, we have always believed that innovation and compliance must move together. Achieving these globally recognised security and compliance milestones is a validation of the systems, discipline and security-first culture we have built over the years. PCI-DSS in particular reflects the depth of security assessment required for organisations handling payment-linked workflows and sensitive transaction environments. As more businesses depend on financial infrastructure to power critical operations, our focus remains on creating a secure, resilient and compliant ecosystem that our partners can confidently build on.”

PaySprint operates at the convergence of fintech, RegTech and escrowtech, delivering a single platform, a single integration and a complete foundation for businesses to scale from their first transaction to enterprise growth. As businesses increasingly seek infrastructure partners that can simplify complexity while maintaining strong governance standards, compliance-led platforms are becoming central to how digital financial ecosystems are built and trusted.

For companies managing sensitive financial and identity-related information, frameworks such as ISO 27001, SOC 2 Type II and PCI-DSS serve as important trust indicators. PCI-DSS, governed by the Payment Card Industry Security Standards Council framework, is especially relevant for organisations connected to payment data and cardholder security, as it requires businesses to demonstrate strong controls across people, processes and technology. Together, these frameworks demonstrate that information security, data protection, risk management and governance are not treated as peripheral functions, but as essential layers of digital infrastructure.

For PaySprint, this milestone reflects its broader vision of building a responsible financial infrastructure for India’s next phase of digital growth. The company continues to focus on simplifying complex financial workflows while ensuring that security, reliability and compliance remain embedded across every layer of its operations.

With this achievement, PaySprint further strengthens its credibility as a trusted infrastructure partner for institutions and enterprises operating at the intersection of finance, technology, compliance and digital trust. The company will continue to invest in enhancing its security systems, compliance posture and governance frameworks as it expands its ecosystem of solutions for India’s fast-evolving digital economy.

Delhi, May 21 : Meta Fashion, a new-age digital fashion platform which is building the “Zara for the Virtual World”, announced that it has raised approximately $400K in a pre-seed funding round. The round was led by Lumikai, India’s leading interactive media, digital platforms, and games-focused VC fund. The round also saw participation from prominent angel investors including Big Bets (the family office of Anton Gauffin, founder of HUUUGE Games), Akshat Rathee, Founder of Nodwin Gaming, and Pratham Mittal, Founder of Masters’ Union.

Founded in 2022 by Arjun Goel, a 19-year-old entrepreneur who appeared on Shark Tank, Meta Fashion designs and develops digital fashion items for platforms like Roblox, Fortnite, Grand Theft Auto, ZEPETO and others. Arjun is joined by his co-founder, Sanjay Goel, a NIFT Delhi alumnus with two exited startups, one of which was acquired by PayTM. Sanjay brings 20+ years of industry experience in consumer tech, manufacturing, and exports.

Further, the company is building their original IP game called Glam Girls for Roblox. Meta Fashion has also created a consumer D2C line for superfans that has successfully converted virtual best selling items into physical fashion goods. At the core of Meta Fashion’s platform is a proprietary AI-native “fast fashion” engine for digital assets, using AI-powered styling and creation tooling that analyzes live marketplace trends and demand signals to improve discovery, accelerate asset creation, and drive higher conversion across virtual marketplaces. To date, Meta Fashion has sold over 2.5 million virtual fashion units on the Roblox marketplace, generating approximately $300K in gross merchandise value operating at a 92% gross margin. Global brands such as Walmart have also partnered with Meta Fashion to bring real world products into the digital world.

Their dress-up game, GlamGirls, launched in beta on Roblox in late 2025 and has attracted over 100K paying users with zero marketing, with a 75% female user base and 50% of users over the age of 18.

UGC platforms such as Roblox, Fortnite, and ZEPETO are emerging as new ecosystems for entertainment and IP creation, particularly for a Gen Z and Gen Alpha digitally-native demographic that has grown up on multiplayer, creator-led worlds. At current growth rates, this sector is expected to cross $100B by 2036.

Roblox alone has grown to 150 million average daily active users and $6.8 billion in annual bookings in 2025. The platform paid out over $1.5 billion to creators in 2025 (a 70% year-over- year increase). Roblox’s 40 million monthly paying users spend an average of $20 per month. The phygital opportunity is also already proven, with studios like Twin Atlas generating six- figure commerce revenue within weeks of enabling in-game purchases.

As Roblox’s user base ages up (with 65% of age-verified users now 13 or older, including 27% aged 18 and above) and as new monetization surfaces such as real-world commerce and ad- revenue sharing open up, UGC platforms are increasingly becoming home to venture-scale IP businesses.

Arjun Goel, Co-founder and CEO of Meta Fashion, said:

“I’ve been creating on Roblox since I was 15, and I’ve watched it grow from a children’s gaming platform into one of the most powerful consumer ecosystems in the world. With Meta Fashion, we want to build the definitive consumer IP company for these new platforms, one that combines taste, speed, and a digital-to-physical flywheel that no traditional brand can replicate. Lumikai backed our vision from day one, and their depth in this ecosystem makes them the right partner to build this with.”

Aditya Deshpande, Principal at Lumikai, said:

“We first came across Arjun’s work while tinkering on Roblox. His virtual items stood out in the marketplace with a level of taste that was hard to miss. What sets Arjun apart is a rare combination of foresight to pre-empt aesthetic trends on UGC marketplaces and the commercial discipline to convert that signal into a profitable, capital efficient operation. Meta Fashion sits at the intersection of two trends that drive our thesis on the space: the rise of UGC platforms as the next generation of consumer entertainment and the professionalization of creators on these platforms into real, venture-scale businesses. We’re truly thrilled to partner with Arjun.”

PAN India, May 21 : Chief Minister Yogi Adityanath on Wednesday conducted a high-level review of three important subjects linked to the future economy of the state, which include the Uttar Pradesh Data Centre Cluster  Project Ganga, and possible exemption in mandi fee and cess to promote in-house processing of wheat. 

Reviewing the Uttar Pradesh Data Centre Cluster  the Chief Minister said that the project will create the basic infrastructure for Uttar Pradesh’s AI mission. 

He said, “The Data Centre Cluster should not remain limited to the NCR region and other parts of the state should also be connected with it.”

Chief Minister directed that the project can begin from the Bundelkhand Industrial Development Authority (BIDA) area, where large-scale land is available. Dialogue should be established with major tech companies, including the Tata Group, to develop Lucknow as an ‘AI City’.

It was informed during the meeting that the Uttar Pradesh Data Centre Cluster is a long-term strategy to make the state the biggest AI compute power centre of India and the Global South. Its objective is to make Uttar Pradesh a global hub for artificial intelligence, data centres, cloud infrastructure and high-tech digital manufacturing. 

The presentation informs that this is not just a project but a blueprint for the new economic structure of Uttar Pradesh for the next 50 years. Under this, targets have been set to build a 5 trillion dollar economy, generate more than 1.5 lakh direct jobs and develop a 5-gigawatt AI compute corridor by 2040.

It was told during the meeting that by 2040, the world’s new economy will develop around ‘future arenas’ such as AI, cloud, cyber security, semiconductors, electric vehicles, robotics and space technology, whose combined global market could reach 29 to 48 trillion dollars. 

For India, sectors like AI software and services, cloud services, cyber security, semiconductors, aerospace and EVs will become major economic engines of the future.

The meeting highlighted Uttar Pradesh’s 5 major structural strengths which include the geographical location, vast land availability, large youth population, rapidly developing infrastructure and strong leadership. It was stated that Uttar Pradesh’s inland location keeps it safe from sea risks and cyclones, while expressways, airports, logistics networks and power infrastructure are already developing rapidly. 

Due to Indian Institute of Technology Kanpur, National Institute of Technology Prayagraj and more than 50 engineering institutions, the state has a large pool of technical talent.

The meeting described Uttar Pradesh as Asia’s most secure, scalable and connected inland AI territory. It was stated that almost all major fibre networks of the country pass through UP and the state is connected with all sea cable landing points of India. 

Connectivity of less than 5 milliseconds within the state and 5-12 milliseconds connectivity to digital hubs like Mumbai and Chennai is available. For global tech companies, UP is an ideal AI infrastructure hub with lower cost, better scalability and higher network redundancy.

Chief Minister also reviewed ‘Project Ganga’ – Government Assisted Network for Growth and Advancement. He directed that youth selected as digital entrepreneurs should be given quality training. He said a system should also be developed so that companies carrying out survey work can use these youths. 

Chief Minister stressed rapid expansion of the optical fibre network and complete transparency in all works. Proper incentives should be provided to digital entrepreneurs from the beginning.

It was informed in the meeting that Project Ganga is an ambitious initiative to bring high-speed broadband networks to rural Uttar Pradesh. Its objective is not only to provide internet but also to promote telemedicine, digital education, skill development, e-governance, digital employment and rural entrepreneurship. Under the project, more than 10,000 youths are targeted to be developed as Digital Service Providers (DSPs), which is expected to create around 50,000 direct and over 1 lakh indirect jobs.

Under the scheme, a target has been set to connect more than 20 lakh homes with fibre-based high-speed internet networks. Each DSP will be able to connect 200 to 300 homes in their area. Special priority has also been given to women entrepreneurship and a target has been fixed to include around 50 percent women entrepreneurs.

In the meeting, it was informed that only limited services are possible through mobile internet, whereas high-speed broadband is necessary for real digital transformation. Strong digital infrastructure was described as essential for services like AI-based agriculture, drone monitoring, smart villages, virtual labs, telemedicine and cloud computing.

Under Project Ganga, DSPs will not only be internet service providers but will also develop a complete network of digital services in rural areas. They will provide services such as high-speed broadband, IPTV, OTT access, CCTV solutions, public Wi-Fi, cyber security and enterprise connectivity. Under the scheme, each DSP will be provided interest-free loans of up to Rs 5 lakh. The project is currently being prepared as a ‘proof of concept’ in 21 priority districts, after which it will be expanded across the state.

Chief Minister also conducted a detailed review of the strategy to promote in-house processing of wheat. Stressing the need for reforms in the mandi tax and mandi fee system, he said that the state’s mandi should be made modern, clean and attractive. He directed that cleanliness, painting, lighting during festivals, removal of encroachments and better management should be ensured in mandis.

Mentioning the possible impact of El Niño, the Chief Minister said that crops may be affected in the coming years, so the state must prepare from now for food security. The state’s food grain reserves should remain adequate and strong.

During the meeting, it was informed that Uttar Pradesh is the largest wheat-producing state in the country. In 2025-26, wheat production in the state is estimated at 372 lakh metric tonnes, while total availability may reach 407 lakh metric tonnes. Around 2.88 crore farmers in the state are connected with wheat production. Despite this, due to limited processing capacity, a large quantity of wheat goes to other states as raw grain, causing value addition, GST revenue and employment opportunities to move outside the state.

The state has 559 roller flour mills with a total milling capacity of 218.4 lakh metric tonnes, but actual utilization is limited to only 126.45 lakh metric tonnes. Apart from this, more than 40,000 flour mills are also operational. 

The report stated that if wheat processing is promoted within the state, there can be major growth in employment, electricity consumption, GST collection and food industries. 

The committee suggested that registered mills in Uttar Pradesh purchasing wheat for processing within the state should be given exemption in mandi fee and development cess, but this exemption should not apply to trading activities.

FILIUM CORP. AND FORMER SEATTLE MAYOR BRUCE HARRELL ANNOUNCE STRATEGIC LEADERSHIP TRANSITION AND ESTABLISHMENT OF EXECUTIVE ADVISORY BOARD, POSITIONING THE COMPANY FOR ACCELERATED GLOBAL GROWTH

Filium names former Seattle Mayor Bruce Harrell as CEO and establishes an Executive Advisory Board with industry leaders, as retailers and brands, including Bass Pro Shops, Cabela’s, O’Neills and North Face, adopt Filium Activated technology.

Seattle, Washington — May 21, 2026 —  Filium, the Seattle-based award-winning material science innovator transforming textile performance through sustainable technology, today announced a series of strategic leadership and organizational developments designed to accelerate the company’s next phase of growth and reinforce its position as a leader in advanced textile solutions.

Filium has developed breakthrough PFAS-free textile technology engineered to deliver water repellency, soil release, and odor resistance while preserving breathability and fabric hand feel. The company’s proprietary solutions are helping redefine modern textile manufacturing by reducing water consumption, lowering energy use, extending fabric lifespan, and supporting healthier, more sustainable consumer products and ensuring that all communities benefit from this technology.

Filium technology has recently been featured in product lines carried by major global retailers and brands, including Bass Pro Shops, Cabela’s, O’Neills, and North Face.

As part of today’s announcement, Filium confirmed that Bruce Harrell will assume the role of Chief Executive Officer, succeeding Founder Raj Shah, who will continue to guide the company as Chairman of the Board.

“Raj Shah and his brother Ahkil Shah’s decades of leadership in the apparel and textile industry, combined with their deep understanding of sustainability and innovation, have positioned Filium at the forefront of a transformational movement in material science,” said Harrell, former Mayor of the City of Seattle. “I am honored to step into this leadership role at such an exciting moment for the company and the industry. Consumers and global brands are demanding products that perform at the highest level while reflecting modern environmental and wellness values, and Filium is uniquely positioned to help lead that evolution. The Shahs have been respected for decades as leading innovators and disruptors in the apparel industry. Their unprecedented success in brands like Mecca, supply chain innovation and record breaking 24% market share, gives Filium a unique advantage in material science.” 

Harrell continued, “Filium’s game-changing and award-winning technology is designed for every fabric type and every community. I am thrilled to join the team that is bringing this revolutionary approach to sustainable, innovative textiles to its next stage with new retailers, brands, and consumers.”  

Doug Lynch, President of Filium, added, “Bruce brings a unique combination of visionary leadership, operational discipline, AI integration and relationship-building expertise. Over the past several weeks, I have seen firsthand his commitment to collaboration, innovation, and performance excellence. His leadership will be instrumental as Filium scales its global growth strategy.”

Filium also announced the formation and expansion of its Executive Advisory Board, bringing together highly accomplished leaders from the global apparel, retail, sports, and brand marketing industries to support the company’s strategic initiatives and long-term expansion.

New members of the Executive Advisory Board include:

• Bob Philion, former President and CEO of Puma North America and COBRA PUMA Golf

• Laurie Black, longtime senior executive at Nordstrom, including service as President of Nordstrom Rack

• Chris Overholt, Chief Commercial Officer of Vinik Sports Group and the Tampa Bay Lightening, and former Senior Vice President and Head of Global Partnerships for Madison Square Garden Sports

• Dr. Badri Narayanan Gopalakrishnan, Founder of Infinite Sum Modeling, LLC.   

In addition, Larry Miller, Chairman of Jordan Brand at Nike and former President of Jordan Brand, who also serves on Filium’s Board of Directors, continues to provide strategic guidance to the company, commented, “The Shah brothers decades of stellar success in the apparel industry and with Bruce Harrell’s highly accomplished background will accelerate company’s mission. The Filum team understands innovation, culture and how to effectively build partnerships which will be key to their success.”  

Investor Brian Levine commented, “Filium has positioned itself as a true innovator within the textile industry by aligning performance, health, sustainability, and environmental responsibility in a way that is increasingly demanded by consumers and global brands alike. The company is challenging legacy assumptions in an industry historically driven primarily by cost and appearance.”

Chairman Raj Shah, who alongside Akhil Shah is a co-founder of Filium, added, “These leadership and organizational changes, coupled with their novel AI applications, reflect Filium’s unwavering commitment to innovation, sustainability, and long-term industry leadership. For decades, I have witnessed the environmental and human impact of traditional textile manufacturing. Filium was created to help change that reality, and I believe the company is exceptionally well positioned for continued growth and global influence in the material sciences sector.”   

Stamford, Conn., May 21: The market for enterprise AI coding agents has entered a new phase of expansion and competitive realignment, according to Gartner, Inc., a business and technology insights company. 

This shift is driven by frontier model providers moving up the stack, more agentic workflows, expansion across the software development life cycle (SDLC), and more complex pricing and ROI dynamics. 

Enterprise AI coding agents mark a transformative shift from AI-assisted development to agentic software development, spanning the SDLC from planning to creating to reviewing code. Gartner predicts that by 2027, over 65% of engineering teams using agentic coding will treat integrated development environments (IDEs) as optional, shifting control, governance, and validation to automated platforms. 

“What began as a race to deliver the most ’magical’ developer experience is now evolving into a contest of operational excellence, commercial maturity, and enterprise readiness,” said Philip Walsh, Sr Director Analyst at Gartner. “Leading AI model providers are offering not just APIs and models, but integrated agentic workflows that promise to transform the entire SDLC. 

“Developer experience and model capabilities are important, but they are not the only criteria when evaluating which vendors are best positioned to help enterprises operationalize AI coding agents at scale. For enterprise-wide adoption, governance, pricing, support, workflows, commercial maturity and market durability also matter, especially for medium- to long-term commitments.” 

Gartner analysts said that when choosing a tool, product excellence and momentum matter, but do not eliminate the importance of enterprise sales maturity, customer support, governance, commercial clarity and the ability to serve buyers with more complex deployment, regulatory or procurement needs. 

“These factors may be less visible in public debate, but they matter in enterprise market evaluation,” said Walsh. 

Additional Insights Available

Gartner clients can read more in the report Leading in Enterprise AI Coding Agents Requires More than Product Momentum, and Magic Quadrant for Enterprise AI Coding Agents. Nonclients can visit Understanding the Enterprise AI Coding Agent Market for more information. 

Gartner is the World Authority on AI

Gartner is the indispensable partner to C-Level executives and technology providers as they implement AI strategies to achieve their mission-critical priorities. The independence and objectivity of Gartner insights provide clients with the confidence to make informed decisions and unlock the full potential of AI. Clients across the C-Level are using Gartner‘s proprietary AskGartner AI tool to determine how to leverage AI in their business. With more than 2,500 business and technology experts, 6,000 written insights, as well as more than 4,000 AI use cases and case studies, Gartner is the world authority on AI.