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Tag: Inflection Point Ventures investments

  • Neural Defend Secures $600K from Inflection Point Ventures to Stop Deepfake Scams That Have Cost Banks Over $3 Billion

    With AI-driven real-time detection, Neural Defend is working with fintech firms, banks, and national security agencies to prevent deepfake scams that impersonate CEOs, manipulate financial transactions, and bypass biometric security. Backed by Inflection Point Ventures, MIT SBXI, and Techstars San Francisco, the company is scaling its fraud prevention technology to counter a global deepfake threat projected to exceed $52 billion in damages by 2030.

     Neural Defend, an emerging cybersecurity startup specializing in deepfake fraud detection, has raised $600,000 in pre-seed funding from Inflection Point Ventures (IPV), MIT SBXI, Techstars San Francisco, and Soonicorn Ventures. The investment fuels the development of AI-powered fraud prevention systems, already undergoing pilot testing in New York and Singapore with financial institutions and security agencies.

    The Growing Risk of Deepfake Fraud
    Financial institutions worldwide are grappling with a rising wave of deepfake scams, where AI-generated voices and manipulated videos are being used to steal money, bypass security measures, and commit large-scale fraud.
    A recent case in Hong Kong revealed how criminals used deepfake voice cloning to impersonate a senior banking executive, leading to fraudulent transactions totaling $35 million.
    Global banks are now investing heavily in AI-powered fraud detection to combat these rising threats.
    Deepfake fraud has already caused losses exceeding $3 billion worldwide, with cybersecurity analysts predicting these crimes could surpass $52 billion by 2030.

    How Neural Defend’s AI Identifies and Stops Deepfake Scams
    Neural Defend has developed an AI-powered security platform capable of analyzing multiple forms of deepfake content, including voice recordings, video impersonations, and real-time biometric spoofing attempts.
    The company’s technology applies multimodal AI to detect fraudulent activity in:

    The system is already being piloted by global banks and financial regulators in New York and Singapore, two of the world’s leading financial hubs.

    Inflection Point Ventures Leads Investment in AI-Driven Fraud Prevention
    Inflection Point Ventures (IPV), a leading Indian venture capital firm, has invested in over 210 startups, deploying ₹800 crore ($100 million) into early-stage technology companies.
    Vikram Ramasubramanian, Partner & CIO at IPV, emphasized the urgency of Neural Defend’s mission, stating:
    “Deepfake fraud is evolving at an alarming rate, costing businesses billions. Neural Defend’s AI-driven approach to real-time detection is not just innovative, it’s a necessity. Their early traction with global banks and fintech firms proves that this is the future of fraud prevention.”

    The Business Case for AI in Fraud Prevention
    The banking and fintech industry is facing an unprecedented rise in fraud, with estimates indicating that $4.1 trillion in global transactions could be affected by digital fraud by 2027.
    Large financial institutions, including JPMorgan Chase, Citigroup, and Goldman Sachs, are actively exploring AI-driven fraud prevention models to combat deepfake scams.
    Governments are also taking notice. The U.S. Federal Trade Commission (FTC) and Europol have flagged deepfake-driven fraud as one of the biggest cybersecurity risks of the decade.

    Neural Defend’s Expansion Plans: Scaling AI Security for Global Institutions
    Neural Defend is expanding its AI capabilities to integrate directly with enterprise fraud prevention systems, making it a scalable solution for banks, fintech firms, and national security agencies.
    Key expansion plans include:

    • Scaling AI R&D to improve detection accuracy and real-time response.
    • Strengthening enterprise adoption by working with regulators and security firms.
    • Expanding pilots beyond New York and Singapore, targeting high-risk markets in India, the UAE, and Europe.
    Piyush Verma, CEO of Neural Defend, highlighted the company’s mission:
    “As AI-generated fraud becomes more advanced, businesses, banks, and government agencies need solutions that can stay ahead. Neural Defend’s AI is built for real-time security, ensuring that deepfake fraud can’t succeed in a world where digital trust is everything.”

    Conclusion: AI-Powered Fraud Prevention is the Future of Cybersecurity
    The rapid rise of deepfake fraud has made AI-driven prevention systems essential for financial institutions, regulators, and businesses. With backing from Inflection Point Ventures, MIT SBXI, and Techstars San Francisco, Neural Defend is well-positioned to become a global leader in deepfake fraud prevention.
    By tackling AI-generated identity fraud at its core, Neural Defend is setting new standards in cybersecurity, ensuring that banks, fintech companies, and governments can protect digital transactions against AI-powered deception.

    At Prittle Prattle News, featuring you virtuously, we celebrate the commitment and innovation. Led by Editor-in-Chief Smruti Bhalerao, our platform is dedicated to sharing impactful stories that inspire change and create awareness. Follow us on LinkedIn, Instagram, and YouTube for more stories that matter.

  • While Big Corporations Talk ESG, Aksum Trademart Actually Built a Profitable ₹240 Crore Sustainable Business

    Backed by Inflection Point Ventures, Aksum’s expansion into 40+ cities, 600+ SKUs, and AI-driven procurement solutions is fueling a new B2B revolution.

    While many corporations make ambitious ESG claims, Aksum Trademart Pvt. Ltd. has turned sustainability into a high-growth business model, reporting a 143% year-over-year revenue surge to ₹240 crore in FY24. With a 700% increase in profit before tax, the company has established itself as one of India’s fastest-growing B2B supply chain disruptors, proving that sustainability and profitability can go hand in hand.
    Backed by Inflection Point Ventures (IPV), Aksum Trademart has expanded into 40+ cities, offering 600+ unique SKUs across steel, scrap, chemicals, polymers, and construction materials. With a tech-driven approach, Aksum is transforming procurement for corporates and MSMEs, eliminating inefficiencies, and accelerating India’s shift towards sustainable supply chains.

    Sustainability is More Than Just a Buzzword, It’s a ₹240 Crore Reality
    Unlike companies treating ESG as a PR exercise, Aksum Trademart has embedded sustainability into its core revenue model. Over 50% of its revenue comes from scrap and secondary steel, helping businesses reduce waste, cut procurement costs, and enhance operational efficiency.
    This approach supports a circular economy, turning industrial waste into high-value raw materials, lowering environmental impact, and offering cost-effective procurement alternatives for Indian businesses. With demand for sustainable materials surging, Aksum’s growth trajectory proves that green business models aren’t just responsible, they’re profitable.
    Sumit Bhatia, Co-founder of Aksum Trademart, highlights the company’s vision for sustainable growth:
    “Our goal is to create sustainable, tech-driven supply chains that empower both large enterprises and MSMEs. Aksum’s rapid growth shows that when businesses prioritize efficiency and sustainability, profitability follows naturally.”

    Tech-Driven Supply Chain Innovation & Financial Strength
    Aksum’s AI-driven procurement automation is making B2B supply chains smarter and more efficient. By integrating real-time vendor-client collaboration, predictive analytics, and digital procurement solutions, Aksum has eliminated manual inefficiencies that slow down traditional supply chains.
    Additionally, the company has secured partnerships with leading financial institutions, including State Bank of India (SBI), HDFC Bank, ICICI Bank, and Yes Bank, offering working capital solutions that make procurement more accessible for MSMEs.
    To further strengthen transparency and corporate governance, Aksum has appointed Grant Thornton as its statutory auditor, ensuring accountability and investor confidence.

    Aksum’s Vision for FY25: Scaling Sustainability, Tech & MSME Inclusion
    As Aksum enters FY25, it is doubling down on its mission to:

    • Expand sustainable procurement solutions, Increasing the use of scrap and secondary materials to further reduce industrial waste
    • Enhance AI-powered procurement automation, Bringing predictive analytics and smart vendor management into mainstream B2B procurement
    • Strengthen financial inclusion for MSMEs, Providing easier access to working capital and digital credit solutions
    • Scale into new markets, Targeting growth beyond 40+ cities and expanding product categories

    With India’s supply chain ecosystem rapidly evolving, Aksum Trademart is not just growin, it’s redefining how businesses procure, trade, and scale in a world that demands both efficiency and sustainability. For more information, visit Aksum Trademart.

    About Aksum Trademart
    Aksum Trademart Pvt. Ltd. is a technology-driven B2B supply chain platform that provides businesses with streamlined procurement solutions across steel, scrap, chemicals, polymers, and construction materials. Founded with the mission of making supply chains smarter, more transparent, and sustainable, Aksum is backed by Inflection Point Ventures (IPV) and has expanded its operations to 40+ cities across India. With a focus on sustainability, financial inclusion, and AI-driven automation, Aksum is creating a future-ready supply chain ecosystem that benefits corporates, MSMEs, and the environment alike.
    At Prittle Prattle News, featuring you virtuously, we celebrate the commitment and innovation. Led by Editor-in-Chief Smruti Bhalerao, our platform is dedicated to sharing impactful stories that inspire change and create awareness. Follow us on LinkedIn, Instagram, and YouTube for more stories that matter.