Kstart Capital, the seed program of Venture Capital firm Kalaari Capital, has invested an undisclosed amount in a multilingual artificial intelligence platform for businesses. The startup, which was founded by three IIT Roorkee graduates- Sourabh Gupta, Akshay Deshraj and Manoj Sarda, is presently working on multi-lingual conversational agents for financial institutions.

Chinese e-commerce giant Alibaba Group Holdings has bought out former IDFC Securities equity analyst Nikhil Vora’s stake in One97 Communications, the parent company of leading digital payments major Paytm. The transaction was part of a larger secondary share sale round in which institutional investors Saama Capital, Sapphire Ventures and Reliance Capital sold their holdings in One97 to Alibaba and its payment affiliate Alipay.