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General Catalyst just led a $63M bet on India’s travel payments market

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Scapia, an Indian startup that combines travel booking with co-branded credit cards and mobile payments, has raised $63 million in a funding round led by General Catalyst, with existing investors Peak XV Partners and Z47 also participating. The deal comes despite a broader slowdown in fintech dealmaking.

The all-equity round values assigns the startup a post-money valuation of more than $500 million, according to a source familiar with the matter, more than doubling its valuation from around $200 million in April 2025. The four-year-old outfit has raised $126 million to date from investors.

That General Catalyst, one of the most prominent U.S. venture firms, is leading the round suggests that India’s travel-focused fintech market is drawing serious attention well beyond its home region.

The funding comes as investors globally grow more selective in fintech bets after years of aggressive funding. In India, fintech funding remained largely flat in Q1 2026, while the number of deals fell by more than half from a year earlier as investors concentrated capital into fewer, larger deals, per a recent report by Tracxn. By contrast, the U.S. saw fintech funding grow sharply, driven by large rounds for a handful of companies in areas including AI and crypto infrastructure.

Investors are betting Scapia can benefit from growing demand among younger Indians for apps that combine payments and travel bookings. Founded in 2022 by former Flipkart executive Anil Goteti, the startup’s app combines co-branded credit cards, UPI-based payments, travel bookings, and commerce in one place. UPI — India’s government-backed real-time payments network and one of the most widely used digital payment systems in the world — is central to how younger Indians move money today.

Over the past year, Scapia said flight bookings on its platform grew nearly six times, while hotel bookings increased about eightfold, with smaller Indian cities driving a growing share of demand. Customer growth also rose sevenfold during the same period, the startup said, without disclosing absolute figures.

Scapia has seen strong adoption among younger travelers who increasingly want flexible travel rewards and integrated payment options instead of traditional credit card perks, Goteti said in an interview. He added that one-third of users now prefer airport dining and shopping rewards over lounge access.

“Lounges are getting quite crowded,” Goteti told TechCrunch. “People actually are looking for an experience outside the lounge.”

Scapia also offers a dual-network co-branded credit card using both Visa and RuPay — a government-backed Indian payment network — allowing users to access card payments and UPI-linked credit through a single statement, credit line, and repayment flow. Moreover, the startup partners with Federal Bank and BOBCARD to offer co-branded cards and plans to add another banking partner in the coming months, Goteti said.

The Bengaluru-based startup operates in a growing market for travel-focused financial products in India, competing with companies like Niyo — another Indian startup that combines banking and travel features — and travel platform Ixigo, while global fintech firms including Revolut are also eyeing the country.

Scapia, which has about 250 employees, said the fresh funding will go toward expanding its product offerings and hiring more AI-focused engineering and product talent as competition intensifies in India’s consumer fintech market.

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Federal judge calls Flock ‘indiscriminate mass surveillance’

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A federal judge ruled this week that a Tulsa, Oklahoma sheriff’s deputy violated a woman’s Fourth Amendment rights when using Flock Safety to search for her license plate without a warrant. 

As reported by 404 Media, this ruling does not create a binding precedent, but it is one of the first times that a federal judge has ruled that a Flock search is unconstitutional.

In this case, Judge Sara Hill said the deputy should have obtained a warrant before searching the Flock database for the woman’s license plate, as he had “no apparent reason” for the search “other than the fact that [the woman’s vehicle] had a California license plate.”

The deputy then used the woman’s travel history in Flock as part of the justification for searching her car, where he allegedly discovered 91 pounds of meth. But Judge Hill wrote that all evidence obtained after the Flock search “must be suppressed as the fruit of a poisonous tree.”

Judge Hill also took broader aim at warrantless searches of the Flock database, writing that tracking people’s location — even when they’re in public places — becomes “constitutionally problematic when law enforcement can indiscriminately and passively catalog your whereabouts over an extended period of time and then use that information for any purpose whenever convenient.”

“This is a type of indiscriminate mass surveillance,” Hill wrote. “It is not targeted on a single individual, as in [Carpenter v. United States, a Supreme Court case focused on how government agencies access location data from cell phones]. It is a tool that collects information about all vehicles that pass by any network-connected camera at all times, and it serves up the information to law enforcement on demand.”

Hill joins a growing chorus of Flock critics from across the political spectrum. Numerous local and state governments, including Florida and Texas, have said they will stop using the technology. And on Friday, Senator Bernie Sanders — a Democrat from Vermont — introduced the Block Flock Act, which would bar federal agencies from using automated license plate readers such as Flock.

Flock CEO Garretty Langley — who we’ll be interviewing on-stage at TechCrunch Disrupt — has called for a “compromise” between privacy and safety and offered an apology to women who have been stalked by law enforcement officers using the Flock system. And with all those cancellations, Flock has also reportedly offered voluntary employee buyouts as a way to shrink its workforce.

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Amazon responds to data center backlash, says it no longer uses NDAs

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Amazon Web Services CEO Matt Garman said the company has stopped using nondisclosure agreements (NDAs) in its dealings with government agencies as it seeks approval to build new data centers.

Garman’s statement is just one sentence in a longer blog post in which he tried to push back against widespread suspicion of data centers, and to make the case that they’re actually good for communities.

NDAs are a significant piece of the broader data center backlash. For example, environmental activist Erin Brockovich recently said that the number one complaint she’s heard about data centers is transparency, with these projects following a common pattern: “projects announced after permits are already secured, developers who don’t return calls, local officials who signed NDAs before their neighbors knew a project was being considered.”

As a result of that backlash, New York announced a one-year moratorium on permits for large data centers, and according to Garman, there are more than 100 data center moratoriums currently being considered across the United States.

“If these measures are enacted, the U.S. could be writing its own losing ticket to this race, and the consequences would last generations,” Garman claimed. “As a country, we can’t afford to find ourselves in that position.”

Garman also attempted to puncture what he said are four big myths around data centers: that they consume too much water, that they increase electricity costs, that they emit an enormous amount of pollution, and that they don’t provide any benefits to their communities.

Pointing to an Amazon report about its own water usage, Garman said that “direct data center water consumption” only accounts for 0.5% of all industrial water usage in the United States, “orders of magnitude less than golf courses, almond farming, and many other industries.”

Nvidia recently said it’s eliminating “pretty much all water usage” inside a data center, but those claims — like Amazon’s — seem to ignore the broader water usage involved in electricity generation and chip manufacturing. Scientists have also said they need to study data centers’ water and energy usage independently, since there are no federal or state requirements around how tech companies report this data. 

As for electricity rates, Garman said they’ve only gone up in some states with large numbers of data centers, while they’ve gone down or at least grown more slowly in others. And he argued, “In instances where energy rates are going up, it’s primarily because the grid is old and hasn’t been invested in and expanded before the demand arrived.”

On the other hand, an independent watchdog said recently data centers were the main culprit behind a 76% year-over-year price increase on America’s largest electrical grid.

When it comes to pollution — an issue that the NAACP is currently suing Elon Musk’s SpaceX/xAI over — Garman complained that critics focus on the maximum amount of pollution allowed under data center permits. For example, a planned Amazon data center in Texas is permitted to release 33 million tons of carbon dioxide per year, which is more than any other power plant in the United States.

“The truth is data center generators almost never run,” Garman said. “They’re idle 99.9% of the time (they run roughly 10 hours per year, mostly for required maintenance testing).”

As for the community benefits, this is where Garman wrote, “We no longer use nondisclosure agreements with the government agencies we work with on our projects.” Plus, he said, “Over the past three years, Amazon has contributed more than $1 billion to communities across the U.S. in which we have a meaningful data center presence.”

Will this be enough to quell community suspicion? Perhaps not — Anthropic CEO Dario Amodei recently argued that the AI backlash is “fundamentally a crisis of trust,” where people assume governments and tech companies are always “cooking up some new way to screw them over.” Similarly, writer Jasmine Sun noted that when data center opponents are presented with the tech companies’ arguments, their response is usually, “I don’t believe them.”

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Amazon responds to data center backlash, says it no longer uses NDAs

Published

on

Amazon Web Services CEO Matt Garman said the company has stopped using nondisclosure agreements (NDAs) in its dealings with government agencies as it seeks approval to build new data centers.

Garman’s statement is just one sentence in a longer blog post in which he tried to push back against widespread suspicion of data centers, and to make the case that they’re actually good for communities.

NDAs are a significant piece of the broader data center backlash. For example, environmental activist Erin Brockovich recently said that the number one complaint she’s heard about data centers is transparency, with these projects following a common pattern: “projects announced after permits are already secured, developers who don’t return calls, local officials who signed NDAs before their neighbors knew a project was being considered.”

As a result of that backlash, New York announced a one-year moratorium on permits for large data centers, and according to Garman, there are more than 100 data center moratoriums currently being considered across the United States.

“If these measures are enacted, the U.S. could be writing its own losing ticket to this race, and the consequences would last generations,” Garman claimed. “As a country, we can’t afford to find ourselves in that position.”

Garman also attempted to puncture what he said are four big myths around data centers: that they consume too much water, that they increase electricity costs, that they emit an enormous amount of pollution, and that they don’t provide any benefits to their communities.

Pointing to an Amazon report about its own water usage, Garman said that “direct data center water consumption” only accounts for 0.5% of all industrial water usage in the United States, “orders of magnitude less than golf courses, almond farming, and many other industries.”

Nvidia recently said it’s eliminating “pretty much all water usage” inside a data center, but those claims — like Amazon’s — seem to ignore the broader water usage involved in electricity generation and chip manufacturing. Scientists have also said they need to study data centers’ water and energy usage independently, since there are no federal or state requirements around how tech companies report this data. 

As for electricity rates, Garman said they’ve only gone up in some states with large numbers of data centers, while they’ve gone down or at least grown more slowly in others. And he argued, “In instances where energy rates are going up, it’s primarily because the grid is old and hasn’t been invested in and expanded before the demand arrived.”

On the other hand, an independent watchdog said recently data centers were the main culprit behind a 76% year-over-year price increase on America’s largest electrical grid.

When it comes to pollution — an issue that the NAACP is currently suing Elon Musk’s SpaceX/xAI over — Garman complained that critics focus on the maximum amount of pollution allowed under data center permits. For example, a planned Amazon data center in Texas is permitted to release 33 million tons of carbon dioxide per year, which is more than any other power plant in the United States.

“The truth is data center generators almost never run,” Garman said. “They’re idle 99.9% of the time (they run roughly 10 hours per year, mostly for required maintenance testing).”

As for the community benefits, this is where Garman wrote, “We no longer use nondisclosure agreements with the government agencies we work with on our projects.” Plus, he said, “Over the past three years, Amazon has contributed more than $1 billion to communities across the U.S. in which we have a meaningful data center presence.”

Will this be enough to quell community suspicion? Perhaps not — Anthropic CEO Dario Amodei recently argued that the AI backlash is “fundamentally a crisis of trust,” where people assume governments and tech companies are always “cooking up some new way to screw them over.” Similarly, writer Jasmine Sun noted that when data center opponents are presented with the tech companies’ arguments, their response is usually, “I don’t believe them.”

When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.

>

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