Deep-tech Startup ‘Spyne’ Takes Its Conversational AI ‘Vini’ Deeper Into Global Auto Retail Workflows

May 14:  Spyne, an AI-powered retail technology company for the automotive industry, today announced an integration with Tekion, innovator of the first end-to-end, AI-native platform serving the entire automotive retail ecosystem. This collaboration aims to expand the connected partner ecosystem within Tekion’s Automotive Partner Cloud (APC), enhancing operational efficiency through enhanced data exchange. 

Through this partnership with Tekion, dealers can now connect Spyne’s Vini AIits AI-powered sales and service engagement agent, with Tekion’s Automotive Retail Cloud (ARC). This connection helps dealers improve information flow between systems and reduces manual data entry, empowering teams to make faster, more informed decisions. By bringing AI-powered calling, chat, service reminders, appointment scheduling, and follow-up communication into existing ARC workflows, it helps sales and service teams work with current customer and appointment data in real time, improving continuity across interactions while reducing the need to switch between systems. 

“Dealers need technology that fits into the way they already operate,” said Sanjay Varnwal, CEO & Co-founder of Spyne. “This integration allows dealerships using Tekion to bring AI-driven customer engagement directly into their day-to-day workflow, helping teams reduce friction, maintain better continuity across sales and service, and deliver more contextual interactions.” 

“At Tekion, APC delivers a connected ecosystem, allowing partners to integrate with ARC,” says Milan Golusin, Director, Partner Program at Tekion. “Spyne‘s direct integration with ARC enables seamless customer engagement within existing workflows. This integration is another step toward removing friction for dealers and delivering a better customer experience at every touchpoint.” 

Spyne is an AI-native automotive retail technology company that helps dealerships modernize how they merchandise vehicles, engage leads, and manage customer communication. Its platform combines premium digital merchandising with conversational AI to help dealers create stronger digital storefronts, streamline customer engagement, and drive appointments more efficiently. 

Tekion’s ARC is the first and fastest AI-native platform, including all functionalities of a DMS, CRM and accompanying tech stack to run a seamless retail business. Through the ARC platform, Tekion APC brings together a growing network of approved partners focused on driving innovation, efficiency, and choice for dealers. The Spyne/Tekion integration within ARC DMS and CRM supports operational efficiency, simplifies processes, and enhances visibility for dealership staff and consumers alike.

Editor’s Note: End-to-end refers to Tekion’s integrated data management platform covering all automotive business functions. 

CyberPower expands rack power portfolio with PDU models for modern IT infrastructure

SYDNEY, May 14 – Global power protection specialist CyberPower Systems has enhanced its Power Distribution Units (PDUs) range in Australia with new models designed to meet growing demand for reliable, high‑density rack power distribution in today’s data‑driven environments.

CyberPower expands rack power portfolio with PDU models for modern IT infrastructure

The new PDU41004, PDU41005, PDU44004 and PDU44005 models extend CyberPower’s rack power portfolio providing practical, scalable solutions for IT managers, systems integrators, managed service providers and data centre operators looking for dependable and cost‑effective rack power that integrates seamlessly alongside CyberPower UPS infrastructure.

CyberPower expands rack power portfolio with PDU models for modern IT infrastructure

CyberPower PDUs are designed for today’s high‑density, high‑demand environments. As server racks become more densely populated and edge computing deployments expand, modern IT environments need dependable, space‑efficient power delivery that minimises complexity. The new PDU models address this directly, offering reliable rack power for comms rooms, network cabinets and data‑centre racks.

CyberPower expands rack power portfolio with PDU models for modern IT infrastructure

CyberPower Systems Oceania GM ANZ Robert Hartvigsen said, “Our new PDU models deliver dependable, consistent rack power that just works. They are engineered for simplicity, reliability and seamless integration with UPS systems, giving IT teams confidence in their rack infrastructure.”

CyberPower expands rack power portfolio with PDU models for modern IT infrastructure

 The four new PDU models provide a trusted solution for growing equipment density, pairing compact design with single‑phase input support and durable metal construction.

For scalable operations, new 32‑amp variants offer higher load capacities across wider network deployments.

CyberPower expands rack power portfolio with PDU models for modern IT infrastructure

 Key features and advantages
The PDU41004, PDU41005, PDU44004 and PDU44005 are suited for professional rack installations from SMB through to enterprise systems.

Core specifications include:

• Rack‑mountable design optimised for space efficiency

• Multiple IEC output sockets for server and network hardware

• Robust metal housing for durability

• Reliable single‑phase power distribution

• Compatibility with the CyberPower UPS ecosystem

• Support for higher‑capacity 32‑amp configurations for scaling environments

 

Product features and highlights include:

• Seamless pairing with CyberPower UPS solutions

• Reliable distribution for business‑critical equipment

• Compact and rugged rack design

• Strong value without compromising quality

• Ideal for comms cabinets, data centres and edge sites

Customers across professional IT, MSP and enterprise environments are facing increasing rack equipment density and tighter turnaround expectations. These PDUs provide simple, dependable power distribution which is ideal when intelligent switching is unnecessary but quality and operational reliability are critical. Also, by aligning with CyberPower’s UPS range, the new models enable standardised, end‑to‑end rack power infrastructure, simplifying procurement and long‑term maintenance.

For systems integrators and resellers, the family also broadens the ability to offer complete rack power packages under a single, trusted brand, strengthening CyberPower’s position in the power ecosystem.

For CyberPower, the new models strengthen its reputation as a complete rack power infrastructure provider, not just a UPS vendor.

In short, for customers, the new PDUs mean more consistent, reliable rack power distribution, simplified sourcing and deployment, scalable 32‑amp options for higher‑load environments and confidence in globally recognised power protection technology.

Robert Hartvigsen concluded, “By combining trusted reliability with scalable design, our PDUs help partners and customers build better‑performing, more consistent infrastructure.”

The new CyberPower PDU41004, PDU41005, PDU44004, and PDU44005 are available now through authorised CyberPower distributors and resellers.

Amul Hikes Milk Prices by INR 2 Per Litre, Consumers Feel Inflation Heat !

Vadodara,May 14 (BNP): Dairy major Amul has increased the prices of its packaged milk variants by ₹2 per litre, with the revised rates coming into effect from May 14 across the country.

Amul Hikes Milk Prices by INR 2 Per Litre, Consumers Feel Inflation Heat !

The price hike applies to popular variants including Amul Gold, Amul Shakti, Taaza, Cow Milk and Slim & Trim. Following the increase, a 500 ml pouch of Amul Gold will now cost ₹35, while Amul Shakti and Slim & Trim are priced at ₹32 and ₹26 respectively in Gujarat.

The move has triggered concern among consumers in Vadodara, where residents said the rising prices of essential commodities are putting additional pressure on household budgets. Many homemakers and middle-class families expressed worry over managing daily expenses, stating that milk is an essential item consumed in almost every household.

The Gujarat Cooperative Milk Marketing Federation (GCMMF), which markets Amul products, said the increase amounts to nearly 2.5 to 3.5 per cent and marks the first hike in milk prices since May 2025.

The Climate Pledge and C40 Cities Launch Blueprint to Electrify India’s Freight Highways

Bengaluru, May 14 : The Climate Pledge  co-founded by Amazon, today published India’s first evidence-based roadmap for shifting freight transport from diesel to zero-exhaust-emission battery electric trucks  in collaboration with C40 Cities .

The National EV Highway Guidance Framework recommends a phased plan to electrify India’s busiest freight routes by 2027, beginning with 20 priority highways identified by the Ministry of Heavy Industries, expanding to industrial centres and ports and ultimately creating a seamless, EV-ready national freight network by 2035 

Why this Framework Matters India’s freight demand is expected to grow significantly in the coming years, increasing the need for cleaner transport solutions. Road transport already accounts for nearly 70% of goods movement in the country, while medium and heavy-duty trucks, despite making up just 3% of vehicles on the road, contribute around 53% of particulate emissions. With demand projected to grow over four-fold by 2050, scaling electric freight will be key to reducing emissions and improving efficiency. This Framework outlines practical pathways, aligned with the Government’s focus on electrification and sustainable mobility, and India’s commitment to achieving net-zero emissions by 2070.

“India’s transition to cleaner freight will require strong collaboration across government and industry. The EV Highway Guidance Framework launched under the Laneshift program today is an important step in this direction and will help create a scalable pathway for electric trucking in the country. Through the e-FAST India platform, NITI Aayog has been bringing together logistics operators, OEMs, energy providers, and financial institutions to build an enabling ecosystem for freight electrification. Building on these efforts, partnerships led by C40 Cities, The Climate Pledge, and private sector stakeholders such as Amazon and Ashok Leyland demonstrate how collaborative action can help move electric freight from pilots to large-scale deployment.” said Dr. O.P. Agarwal, Distinguished Fellow, NITI Aayog.

“We continue to invest in making our operations more sustainable, and electrifying our logistics is a key part of that effort. Through The Climate Pledge, we are also working with stakeholders to help scale electric freight solutions more broadly in India. The project findings and framework are encouraging, and reinforce the importance of continued collaboration between government and industry to accelerate adoption,” Abhinav Singh, VP, Operations, India and Australia, Amazon.

From Pilot Project to Policy The Framework draws insights from Laneshift pilot project, led by C40 Cities and The Climate Pledge, by bringing together truck manufacturers, fleet operators, logistics providers, and financiers to test electric freight. As part of the project, electric trucks completed 600 trips on the Bengaluru-Chennai corridor, covering over 200,000 km across sectors, generating insights on performance, reliability and cost, and supporting early adoption through long-term contracts. To assess scalability, the project also undertook a 6,500-km pilot along the Golden Quadrilateral, connecting Delhi, Mumbai, Chennai, and Kolkata.

Laneshift project demonstrated operational viability of electric freight across all use cases, and commercial viability for operations exceeding 400 km per day. The project saw 4.2-times increase in electric truck orders and the securing of long-term commercial contracts , signaling growing market confidence.

“Decarbonizing freight is not a future ambition; it is an immediate economic and public health imperative for the country. Laneshift has shown that zero-exhaust-emission trucks can operate commercially on long-haul corridors, that costs are coming down, and that when the right stakeholders align their efforts, barriers give way. India has the scale, the policy momentum, and the industry appetite to be the next frontier,” said Naim Keruwala, Regional Director for South and West Asia at C40 Cities.

 

India’s Solar Market Hits New Quarterly Record with 15.3 GW Added in Q1 2026

May, 14:  India installed 15.3 gigawatts (GW) of solar capacity in the first quarter (Q1) of 2026, the highest quarterly capacity additions recorded to date, an increase of 143% year-over-year (YoY) compared to the 6.3 GW installed in Q1 2025, according to Mercom India’s newly released Q1 2026 India Solar Market Update Report.

Solar installations were up 49% quarter-over-quarter (QoQ) compared to 10.3 GW added in Q4 2025.

In Q1 2026, India installed 12.6 GW of large-scale solar capacity, with open access projects accounting for 21% of the total. Large-scale projects accounted for 82% of total solar capacity additions, and grew 55% QoQ and 147% YoY.

A combination of approaching policy deadlines and improved transmission readiness in key solar markets drove record solar project commissioning activity in Q1 2026. One of the main drivers was the upcoming implementation of ALMM List-II from June 2026, which prompted developers to accelerate project commissioning under the existing procurement framework amid concerns over limited domestic DCR cell availability and rising module procurement costs.

Installation activity was also supported by stronger execution under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan program, along with accelerated commissioning of open access projects ahead of the next phase of Inter-State Transmission System (ISTS) waiver reductions.

“India’s solar sector recorded its strongest quarter ever in Q1 2026, driven by accelerated project execution ahead of the June ALMM-II deadline and the reduction in ISTS charge-waiver benefits. However, transmission bottlenecks could still play the spoiler in what is expected to be a record year for solar installations. While project execution and commissioning activity remain strong, transmission readiness and evacuation infrastructure are struggling to keep pace with the rapid growth in renewable capacity. As renewable penetration increases, curtailment, grid flexibility, and storage integration are becoming critical to sustaining future growth,” said Raj Prabhu, CEO of Mercom Capital Group.

In Q1 2026, India added 19.9 GW of new power capacity, with solar accounting for 77% of total additions.

As of March 2026, India’s cumulative installed solar capacity, including large-scale and rooftop, stood at 152 GW. Large-scale solar projects contributed 85%, and rooftop solar accounted for 15% to cumulative installed solar capacity during the quarter.

Solar energy accounted for 28% of India’s total installed power capacity and 55% of the total installed renewable energy capacity.

Rajasthan had the highest cumulative installed large-scale solar capacity, accounting for 32% of the country’s total installations. Gujarat and Karnataka followed with 21% and 11%, respectively.

In Q1 2026, Gujarat and Rajasthan led large-scale solar installations, accounting for approximately 40% and 39% of the capacity additions. Maharashtra ranked third, with 6%.

The average cost of large-scale solar projects using TOPCon DCR modules in the quarter fell nearly 1% QoQ but rose 6% YoY.

Tender activity surged to 3 GW during the quarter, down 68% YoY and up 100% QoQ. In Q1 2026, 4 GW of solar projects were auctioned, down 47% QoQ and 64% YoY.

Key Highlights from Mercom India Research’s Q1 2026 India Solar Market Update:

  • India added 15.3 GW of solar capacity in Q1 2026, an increase of 143% YoY

  • Large-scale projects accounted for 82% of total quarterly additions

  • Gujarat, Rajasthan, and Maharashtra led large-scale solar installations during the quarter

  • Solar accounted for 77% of the new power capacity added in the country in Q1 2026

  • Cumulative installed solar capacity stood at 152 GW as of March 2026

ENTECH 2026 ready to roll with new attractions

SYDNEY, 14 May 2026 – ENTECH, Australia’s longest-running AV trade roadshow and the only event for AV and entertainment technology professionals that visits every major population centre, is back for 2026. Starting next week it will tour five cities across the country with a packed one-day program of seminars, hands-on demonstrations and its new Tech Train.

 

Entech

ENTECH Roadshow to Experience event

The ENTECH Roadshow kicks off in Sydney on Tuesday 19 May followed by Brisbane on Thursday 21 May, Melbourne on Tuesday 26 May, Adelaide on Thursday 28 May and wraps up its Australian tour in Perth on Tuesday 2 June.

A highlight of every city stop, the Tech Train runs three times daily departing at 12pm, 1:30pm and 3pm from the NW Group ENTECH Theatre. Hosted by Keils, the guided floor walk takes attendees through exhibitor stands to see the latest products and technologies in action.

ENTECH CEO Kate McKenzie explained, “The Tech Train is the fastest way to get across what’s new without missing a thing.”

This year ENTECH also introduces two brand-new interactive demo zones, an Audio Demo Zone and a Tech Demo Zone, running back-to-back 15-minute sessions throughout the day.

McKenzie added, “Both zones offer attendees a close-up look at new systems from leading manufacturers, with audio sessions running from 11:30am and Tech sessions from 12:30pm.”

The Keynotes will be in the NW Group Theatre with hot topics at midday including Electrical Compliance to which McKenzie added, “Here our industry will detail the current hot mess of state-by-state regulations, Test and Tag and the dreadful new electrical Certificate of Compliance risk. Australia and New Zealand are the only places on earth that do Test and Tag in such a shambolic manner, and the eCoC is real: ENTECH will meet it at one of our venues.”

Immediately after the keynote, attendees can join Susan Twartz as she seeks to unify the challenging induction regimes, with some solid examples of a unified venue approach. Sessions run all day in the Theatre and like all ENTECH experiences, they are free.

The main event is the trade show itself which features most major distributors across pro audio, lighting, staging and vision for the entertainment and installation markets. With 60 stands the floor is bust and all attractions are contained within the show so it is easy and efficient to navigate, making even the most time poor people happy.

 

ENTECH CEO Kate McKenzie

Kate McKenzie concluded, “Running since 1994, ENTECH is a one-day trade event designed for integrators, AV designers and end-users who want direct access to top suppliers and manufacturers. The compact format keeps things sharp, so exhibitors focus on key and new products only and conversations on the floor are worth having. With 30% of attendees carrying annual budgets of $100K or more, it’s a quality crowd.”

After the Australian ENTECH the roadshow is staged fresh in NZ, opening at the new Auckland International Convention Centre on Tuesday 28 July then rolling Thursday 30 July into Lower Hutt Events Centre in Wellington, and crossing the straight to Te Pae in Christchurch for Tuesday 4 August.

Attendance is free for trade guests.

Darwinbox Named a Leader in Gartner® Magic Quadrant for Talent Acquisition Suites

Business Wire India

Darwinbox, a leading global AI-native HR technology platform, today announced its debut as a Leader in the 2026 Gartner® Magic Quadrant™ for Talent Acquisition Suites for 1,000+ Employee Enterprises. This leap from Visionary to Leader in just one year is driven by Darwinbox’s relentless AI innovation and significant advancements in its Super Agent’s capabilities, an agentic AI teammate that orchestrates intelligent agents to enable autonomous, end-to-end hiring in the flow of work.

Darwinbox has been at the forefront of the shift to agentic AI in HCM and continues to strengthen its leadership by making AI pervasive across modules, including Talent Acquisition. With multiple context-aware, autonomous agents and embedded AI capabilities, Darwinbox customers have unlocked significant improvements in recruiter productivity, candidate experience, and organizational decision-making.

A Southeast Asia-based financial services company processed over 35,000 resumes with automated data extraction and leveraged AI-powered stack ranking, CV/resume insights, and interview support, resulting in a 48% reduction in time-to-hire.

“This recognition as a Leader in Gartner’s Magic Quadrant for Talent Acquisition, along with being ranked No. 1 in AI innovation, reflects our commitment to redefining talent acquisition for the AI era, where AI runs workflows, humans guide outcomes, and hiring becomes more adaptive, intelligent, and scalable by design,” said Chaitanya Peddi, Co-founder, Darwinbox.

Darwinbox ranks among the top two across all four Gartner Talent Acquisition use cases, underscoring its ability to deliver scalable, high-quality hiring outcomes for large enterprises:

  • #1 in AI Innovation: With 50+ embedded AI capabilities and 30+ agents delivered, boost your recruitment speed, quality, and data-driven decision-making.
  • #1 in End-to-End ATS for Two Consecutive Years: As a standalone ATS or as part of the broader Darwinbox suite, complex enterprise hiring needs are quickly addressed with advanced capabilities rivaling point solutions.
  • #2 in High-Volume Hiring: Purpose-built for frontline and distributed workforces, large-scale hiring needs are matched with hyperautomations, AI-powered autonomous workflows, and a mobile-first approach.
  • #2 in CRM Capabilities: Recruiters can seamlessly build, manage, and continuously nurture candidate pipelines, leading to a significantly higher candidate-to-employee conversion rate.

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AVer and Lightware Launch Global Collaboration to Enhance AI-Powered Video Experiences

AVer and Lightware Launch Global Collaboration to Enhance AI-Powered Video Experiences

 

Taipei, Taiwan – May 14: AVer Information Inc. , an award-winning provider of AI audio-video solutions, today announced a worldwide collaboration with Lightware Visual Engineering. This joint effort brings together AVer’s AI-powered camera technology and Lightware’s premier signal management solutions to address the growing demand for high-quality video in modern hybrid environments.

By featuring AVer’s Pro AV and USB video conferencing lines alongside the Lightware Taurus UCX, Taurus TPX, Taurus TPN, and USB20 Extender Family, the two companies are providing a comprehensive visual and connectivity portfolio for global enterprise and education markets.

Focusing on the User Experience

This collaboration is centered on providing users with a streamlined approach to “Bring Your Own Meeting” (BYOM) setups. By utilizing AVer’s AI-driven imaging designed— for intelligent tracking and framing — together with Lightware’s signal delivery platforms, organizations can create professional grade meeting spaces that are easy to navigate and operate.

“At AVer, we are constantly looking for ways to enhance how people connect through our AI audio-video solutions,” said David Kuo, President of AVer Information Inc. “Collaborating with Lightware allows us to showcase our professional cameras within a world-class connectivity environment. We are excited to define a new benchmark for the Pro AV community, illustrating how our combined portfolios advance modern collaboration.”

“Lightware is excited to join forces with AVer to highlight the power of high-quality imaging combined with world-class signal management,” said Gergely Vida CEO at Lightware. “The combination of the Taurus product family and AVer’s camera solutions creates the ideal foundation for a professional meeting space.”

See the Solutions in Action

The highlight of this collaboration is the ability for partners and customers to see these solutions working side-by-side in real-world scenarios. AVer and Lightware are inviting the industry to explore these setups at dedicated training and experience hubs.

  • Düsseldorf: The Lightware Düsseldorf Training Center is now featuring AVer’s AI tracking cameras as part of its live demonstration environment.
  • Dubai & London: Additional showcases are coming soon to the Lightware Dubai and London Experience Centres, providing regional hubs for professionals to see these solutions paired together in person.

A Shared Vision for the Future

As leaders in their respective fields, AVer and Lightware are dedicated to enhancing the professional AV and video conferencing landscape. By aligning AVer’s AI-driven visual technology with Lightware’s world-class signal management, this collaboration offers a forward-thinking approach to modern, flexible workspaces. Together, the two companies are focused on making professional grade collaboration more accessible and effective for users worldwide.

Spendflo Launches Flo AI: An Autonomous Procurement Workforce for Mid-Market Companies

Flo AI runs the full intake-to-pay lifecycle autonomously, giving lean procurement teams the capacity to operate as a much larger function without the headcount to match.

San Francisco, CA – May 14: Spendflo has launched Flo AI, an autonomous procurement workforce designed for mid-market companies. Flo AI runs the complete procurement lifecycle: intake, approvals, vendor management, contract review, and accounts payable, as a single connected system. It does not assist procurement teams. It acts on their behalf.

Most companies at this stage run procurement with a small team, often one to five people, managing a volume of requests, renewals, and vendor relationships that a larger operation would handle with a dedicated department. Flo AI was built for exactly this: giving lean procurement functions the capacity to operate at a speed and scale that was previously out of reach.

Three agents. One connected system.

Flo is made up of three purpose-built agents, each covering a distinct phase of the procurement lifecycle.

  • Flo Procure handles every purchase request from first submission to approved purchase order. It routes requests, checks budget and policy, collects vendor documentation, and drives approval workflows to completion. Requests no longer wait on a procurement manager to coordinate them through the process.
  • Flo Contracts reads, redlines, and tracks vendor agreements. It surfaces non-standard clauses, extracts key commercial terms, and flags upcoming renewals before they slip through. Every contract processed through Spendflo informs how Flo Contracts handles the next one.
  • Flo AP (Accounts Payable) matches incoming invoices against purchase orders and contracts, routes exceptions for human review, and processes payment. Because Flo AP shares context with Flo Procure and Flo Contracts, it verifies invoices against what was actually agreed at sourcing, not just what the vendor submitted.

The three agents work as one system. Context carries forward at every stage. What Flo Procure learns about a vendor informs how Flo Contracts reads their agreement. What Flo Contracts extracts from the agreement informs how Flo AP handles the invoice. This continuity is what separates Flo from the point solutions most procurement teams are stitching together today.

The problem Flo AI was built to solve

Mid-market companies face a specific procurement challenge. They have outgrown informal processes but have not yet built the procurement infrastructure that larger organisations rely on. The gap is filled by small teams doing high volumes of manual work: chasing approvals, reconciling invoices, managing renewals, and fielding requests from across the business.

The tools available to them have not kept up. Most procurement software was designed either for large enterprise deployments with dedicated implementation teams, or for early-stage companies with simpler needs. Point solutions for intake, contracts, and accounts payable exist in abundance. What has been missing is a system that connects them, one that carries the context of a purchase request all the way through to the payment that closes it.

Flo was built on that full context from the ground up. Since founding, Spendflo has processed more than $3.2 billion in total spend across invoices, purchase orders, and contracts on its platform. That data informs how Flo categorises spend, identifies exceptions, and understands what efficient procurement looks like across different industries and company sizes.

Siddharth Sridharan, CEO, Spendflo commented: “The companies we work with are not looking for more software to manage. They are looking for a procurement function that runs. Flo handles intake, approvals, contracts, and accounts payable. What remains for the procurement team is the work that actually requires their judgment: vendor strategy, commercial negotiation, and the decisions that move the business forward. We are starting to see a new kind of procurement professional emerge at these companies. Someone who thinks in systems, sets the strategy, and lets the agents execute. That is the direction this is heading.”

The rise of the procurement engineer

With this launch, Spendflo is introducing a new role it believes will define the next generation of procurement operations: the procurement engineer.

The procurement engineer is not a coordinator. They do not spend their days chasing approvals, tracking down documents, or manually reconciling invoices. They configure and orchestrate an AI agent workforce to run procurement operations end to end. They design the workflows Flo executes. They own the vendor strategy Flo acts on. They set the policies Flo enforces. Their time goes to the work that requires human judgment: negotiations, vendor relationships, commercial strategy, and the systems thinking that makes procurement a lever for the business rather than a cost centre behind it.

This is a structural shift in what procurement functions look like. Most procurement teams today are built around coordination and process management. People spend the majority of their time moving information between systems and stakeholders. As AI agents take over that operational layer, the procurement function reorganises around a smaller, more senior profile: one person with strong commercial instincts and deep systems thinking, running an agent workforce that executes on their behalf.

The analogy is the GTM engineer, a role that emerged when revenue teams realised that configuring and orchestrating go-to-market tooling required a distinct skill set closer to systems design than sales execution. Procurement is undergoing the same shift. The procurement engineer is the person who makes Flo smarter and more precisely tuned to their organisation over time. They are not replaced by AI. They are the ones who run it.

For mid-market companies, lean procurement is not a constraint. It is the operating model. One procurement engineer orchestrating an agent workforce will run procurement with more speed, more intelligence, and more commercial impact than a headcount-heavy team running manual processes.

Availability

Flo is available now. It is designed for mid-market companies between $50 million and $1 billion in revenue, and connects to existing ERP, finance, and contract infrastructure without requiring organisations to replace current systems.

 

 

Stitch Raises $25M Series A Led by Andreessen Horowitz

Business Wire India

Stitch, the operating system built for modern financial institutions, today announced it has raised $25 million in Series A funding led by Andreessen Horowitz (a16z). The investment marks a16z’s first in the GCC and brings Stitch’s total funding to $35 million. In addition to a16z, existing investors Arbor Ventures, COTU Ventures, Raed Ventures, and SVC also participated in the round.

 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260514070694/en/

 

 

Mohamed Oueida - Founder & CEO, Stitch (Photo: AETOSWire)

Mohamed Oueida – Founder & CEO, Stitch (Photo: AETOSWire)

 

Despite spending over $1 trillion on digital transformation in the last three years, most financial institutions are still running on the same fragmented, legacy infrastructure that has defined the sector for decades. Globally, banks spend $700 billion a year on technology — yet launching a new product still takes years, and upgrading a core system still risks bringing operations to a halt.

 

Now, as AI reshapes every industry, that infrastructure gap has become existential: no financial institution can meaningfully adopt AI without first having a clean, reliable system of record to build on.

 

 

Built by operators who spent years at NPCI, FIS, Barclays, Santander, and Azentio, Stitch was designed to lay that foundation. The platform gives financial institutions a single, cloud-native stack spanning lending, cards, payments, and ledgers — one they can adopt gradually, module by module, without ripping out existing systems overnight. By replacing the fragmented core with a modern system of record, Stitch unlocks the AI transformation that institutions have been promised but cannot reach without the right infrastructure.

 

 

“Financial institutions globally run on fragmented, legacy infrastructure that should have been left behind 20 years ago. Now every institution wants to adopt AI, but AI on top of broken infrastructure is a dead end,” said Mohamed Oueida, founder and CEO of Stitch. “We built Stitch to fix that, and we’re proud to have Andreessen Horowitz alongside us.”

 

 

In the last six months alone, more than $5 billion has been transacted on the Stitch platform. Customer numbers grew 10x in 2025, and revenue grew 20x in the same period.

 

 

Stitch currently operates across the GCC, Africa — including Egypt and Kenya — and Southeast Asia, with customers including Raya Financing (the lending arm of Hyundai and Peugeot), LuLu Exchange, Noqodi, and Foodics. The company plans to continue expanding with the goal of servicing financial institutions worldwide.

 

 

“Financial institutions are sitting on decades of infrastructure debt, and that debt is now the single biggest obstacle to AI adoption. What Stitch is building — a modern, unified system of record — is what makes everything else possible. We’re excited to support them, and honored to make this our first investment in the region,” said Alex Rampell, General Partner at Andreessen Horowitz.

 

 

The fresh capital will go toward accelerating product development, deepening Stitch’s presence across the GCC and broader MENA region, and expanding its global go-to-market operations.

 

 

For more information, visit https://stitch.co.

 

 

About Stitch

 

 

Stitch is a Riyadh-headquartered financial technology provider delivering an operating system built for modern financial institutions.

 

 

With a unified platform, Stitch unlocks an expanding set of use cases from lending and cards to payments and ledgers, giving teams everything they need to launch faster, operate leaner, and scale with confidence.

 

 

Replacing fragmented and legacy systems with a modern stack, Stitch is on a mission to simplify how the world builds and operates financial products, so the institutions that rely on it can focus on what matters most: their customers.

 

 

For more information, visit https://stitch.co

 

 

About Andreessen Horowitz

 

 

Andreessen Horowitz (aka a16z) is a venture capital firm that backs bold entrepreneurs building the future through technology. We are stage agnostic: We invest in seed to venture to growth-stage technology companies, across bio + healthcare, consumer and enterprise apps, crypto, fintech, infrastructure, and companies building toward American dynamism. a16z has over $90B under management across multiple funds.

 

 

*Source: AETOSWire