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Bengaluru-based VerSe Innovation, the parent firm of news aggregator platform Dailyhunt, and London-based artificial intelligence startup Builder.ai allegedly inflated revenue by issuing invoices to each other without services being provided in many of those cases, a Bloomberg report said.
The two companies routinely billed one another for roughly the same amounts between 2021 and 2024, the news agency reported citing documents it reviewed, adding that Builder.ai collected close to $60 million in revenue from VerSe in the four-year period for services…
