The companies did not disclose the financial terms of the transaction.

AscentHR completed the acquisition through a single-stage transaction under which it acquired 100% of the equity share capital of OS HRS Malaysia, OS HRS Japan, and OS HRS India from BREXA Inc. (formerly Outsourcing Inc.), Tokyo, Japan. The transaction was completed in June 2026.

Furthermore, the acquisition marks a significant milestone in AscentHR’s long-term growth strategy across the India-Asia Pacific region. By integrating OS HRS into its operations, the company will expand its payroll delivery capabilities, strengthen compliance expertise, and enhance its presence across major markets, including India, China, Japan, Malaysia, South Korea, Singapore, several other APAC countries, and the Middle East.

With OS HRS joining the AscentHR ecosystem, the combined organization will deliver payroll services across multiple countries while providing multinational corporations and regional enterprises with a comprehensive platform for managing payroll, HR compliance, and workforce operations across diverse regulatory environments.

Additionally, the acquisition combines AscentHR’s advanced HR technology, managed services, and workforce solutions with OS HRS’ extensive regional payroll expertise, long-standing customer relationships, and strong in-country delivery capabilities. Consequently, the combined entity will be better positioned to support organizations operating across multiple international markets.

Moreover, AscentHR expects the acquisition to nearly double its revenue, while significantly expanding its regional customer base, operational capabilities, and market presence throughout Asia-Pacific.

Subramanyam S., Founder & CEO, AscentHR, said, “This acquisition is an important milestone in AscentHR’s journey to build a leading regional payroll and workforce solutions platform across Asia-Pacific. OS HRS has established a strong reputation for delivering high-quality payroll services, deep compliance expertise, and exceptional customer support across the region.”

He further added, “Beyond expanding our geographic reach and delivery capabilities, this acquisition will significantly accelerate our growth trajectory. Together, we are creating a stronger organization with deeper local expertise, enhanced service capabilities, and a broader regional footprint that will enable us to support multinational organizations more effectively across APAC.”

Meanwhile, the acquisition reflects the growing consolidation within the HR technology and payroll outsourcing industry as businesses increasingly seek integrated workforce management solutions that simplify compliance across multiple jurisdictions. As organizations continue to expand internationally, demand for scalable payroll platforms and localized compliance expertise continues to rise.

The acquisition of OS HRS marks a significant milestone in AscentHR’s regional expansion strategy. By strengthening its payroll outsourcing capabilities, compliance expertise, and customer reach across Asia-Pacific and the Middle East, the company has positioned itself for accelerated growth. As demand for integrated HR technology and multi-country payroll solutions continues to increase, AscentHR aims to deliver enhanced value to multinational enterprises operating across diverse regulatory environments.

The partnership combines Protean’s nearly three decades of expertise in designing and operating population-scale digital platforms with NECTAR’s capabilities in technology applications, geospatial technologies, and regional development. Together, the organizations will develop scalable technology-driven solutions that strengthen governance, enhance public service delivery, and address last-mile development challenges across the country.

Furthermore, the MoU establishes a framework for identifying and implementing high-impact projects across digital governance, information and communication technology (ICT), geospatial solutions, capacity building, and technology-enabled socio-economic development. Additionally, the collaboration will explore opportunities to design innovative digital platforms that can be deployed on a larger scale to generate long-term public value.

By leveraging their complementary strengths, Protean eGov Technologies and NECTAR aim to accelerate the adoption of emerging technologies that improve citizen services, strengthen institutional capabilities, and promote sustainable and inclusive development. Moreover, the partnership reflects the shared commitment of both organizations to using technology for public good while supporting India’s ongoing digital transformation agenda, particularly across the North Eastern states.

Rakesh Dosi, Chief Business & Product Officer, Protean eGov Technologies Limited, said, “For nearly three decades, Protean has been building population-scale digital infrastructure that enables governments to deliver trusted and inclusive citizen services at scale. We are delighted to partner with NECTAR to support the Northeastern Region’s digital transformation journey. By combining our strengths, we aim to create scalable technology solutions that strengthen governance, accelerate socio-economic development, and contribute meaningfully to the region’s growth as well as India’s broader digital development agenda.”

Similarly, Dr. Arun Kumar Sarma, Director General, NECTAR, emphasized the importance of the collaboration.

He said, “The Northeastern Region presents immense opportunities for technology-led growth and innovation. Our partnership with Protean brings together strong regional expertise and proven capabilities in building Digital Public Infrastructure at scale. Together, we look forward to developing impactful digital solutions that enhance governance, improve citizen outcomes, and accelerate inclusive development across the region.”

Meanwhile, the collaboration will also strengthen India’s Digital Public Infrastructure ecosystem by combining Protean’s experience in implementing large-scale digital platforms with NECTAR’s regional expertise and technology-driven development initiatives. Consequently, both organizations aim to deliver innovative governance solutions that improve administrative efficiency, promote digital inclusion, and empower citizens through technology.

Furthermore, the partnership aligns with the Government of India’s vision of expanding digital governance, improving access to citizen services, and accelerating technology adoption across underserved regions. As digital transformation continues to reshape governance and public administration, the collaboration expects to create scalable and sustainable solutions that can benefit millions of citizens.

The strategic alliance combines Cubera’s advanced Artificial Intelligence (AI), AdTech, and Data Management Platform (DMP) capabilities with Grant Thornton Bharat’s expertise in management consulting, business strategy, corporate development, and technology transformation. Together, the companies aim to drive scalable business growth while redefining the future of AI-driven advertising and audience intelligence across international markets.

Effective May 1, 2026, senior consulting leaders from Grant Thornton Bharat joined Cubera’s leadership structure to support business development, AI strategy, technology transformation, and international market expansion.

Ashootosh Chand, Partner – dGTL, Grant Thornton Bharat, said, “This partnership brings together Grant Thornton Bharat’s dGTL-led transformation capability, deep customer access, and execution rigor with Cubera’s powerful AI and data platform. Together, we are focused on turning advanced technology into real, scalable business outcomes, both in India and globally.”

The partnership marks a significant milestone in Eleos Social Inc.’s and CuberaTech India’s long-term strategy to build a multi-billion-dollar global AdTech business through strategic collaborations and rapid execution. The company has already deployed its full-stack AI-powered AdTech platform, generates commercial revenue through the platform, and continues to expand its data infrastructure to serve hundreds of millions of users worldwide.

Additionally, Cubera has developed an extensive portfolio of filed patents focused on deep learning technologies. Meanwhile, through the partnership, Grant Thornton Bharat will provide end-to-end consulting support across commercial strategy, AI technology positioning, corporate growth initiatives, and global expansion efforts. Consequently, the collaboration will help Cubera accelerate its growth strategy, strengthen its market positioning, and expand its global footprint.

The collaboration also covers multiple areas of Cubera’s business strategy, including building strategic brand partnerships, expanding its first-party data ecosystem, strengthening AI and deep learning capabilities, and positioning the company’s technology platform for international markets. By combining technical innovation with strategic advisory services, Cubera aims to accelerate its path toward global market leadership.

Dr. Samartha Nagabhushanam & Daniel Bland, Co-founders & Co-chairmen – Eleos Social Inc. | CuberaTech India Private Limited, said, “What we are building at Eleos and Cubera is a multi-billion dollar global AdTech business, and we are building it at a pace that conventional growth trajectories simply cannot match. Strategic alliances like the one we have forged with Grant Thornton Bharat are the engine of that velocity. They compress years of capability-building into months, unlock networks and credibility that take a decade to cultivate organically, and create the asymmetric uplift that turns a strong platform into a dominant one. The technology is built, the data infrastructure is scaling, and the global structure is in place. This alliance is the accelerant, and we fully intend to use it.”

Meanwhile, CuberaTech India serves as the Indian operations of Eleos Social Inc., a global technology company co-founded and co-chaired by Dr. Samartha Nagabhushanam. The company develops next-generation AI-first advertising technology, programmatic advertising platforms, and audience intelligence solutions for businesses worldwide. Furthermore, it continues to strengthen its technology portfolio by developing advanced AI-driven solutions that help businesses improve digital advertising performance and audience engagement across global markets.

Its technology ecosystem includes Edge, the company’s flagship Demand-Side Platform (DSP), along with proprietary advertising exchanges Vertex and Advertex, and Cube, its fully owned Data Management Platform (DMP). Furthermore, Cubera has built advanced Agentic AI, Generative AI, and Deep Learning capabilities supported by a growing portfolio of intellectual property across audience analytics, location intelligence, family datasets, and societal data models.

As businesses increasingly adopt AI-driven marketing technologies, the partnership with Grant Thornton Bharat will, therefore, strengthen CuberaTech India’s competitive advantage, accelerate its global expansion, and enable the company to deliver innovative advertising solutions powered by artificial intelligence and data intelligence.

Under the acquisition agreement, approximately 100 employees and 140 clients from C2FO India will join Mynd Fintech’s operations. Consequently, the combined entity will process nearly ₹60,000 crore worth of annual transactions across both the buy-side and sell-side financing ecosystem, significantly enhancing its presence in the digital lending and working capital finance market.

M1xchange operates as a Reserve Bank of India (RBI)-licensed Trade Receivables Discounting System (TReDS) platform that facilitates invoice financing for businesses. Similarly, C2FO operates C2TReDS under the same regulatory framework. However, following the acquisition, C2FO may surrender its TReDS licence, allowing Mynd Fintech to operate C2FO India’s platform while integrating its technology, employees, and customer network.

C2FO India Technologies specializes in on-demand working capital solutions, dynamic discounting, and invoice financing for businesses. As a subsidiary of the US-based C2FO, the company accelerates invoice payments for suppliers operating across more than 180 countries, helping businesses improve cash flow and strengthen supply chain operations.

Sundeep Mohindru, chief executive officer, M1xchange, said, “The combined entity will process ₹60,000 crore worth of transactions annually on both the buy and sell side.” However, he did not disclose additional financial details related to the acquisition.

The C2FO India marketplace enables vendors to access affordable working capital while receiving early invoice payments without complicated documentation or hidden charges. Moreover, the platform serves nearly 50% of the Nifty50 companies and supports the supply chain financing requirements of approximately 200,000 suppliers across multiple industries, including cement, pharmaceuticals, manufacturing, and several other sectors.

Basant Kaur, country head, C2FO, said that the company currently serves around 50% of the Nifty50 corporations and manages the supply chain financing needs of nearly 200,000 suppliers across sectors such as cement, pharmaceuticals, and other industries. She highlighted the company’s extensive reach within India’s corporate ecosystem and its commitment to improving supplier liquidity through digital financing solutions.

Based in Gurugram, Mynd Fintech operates as a leading digital lending marketplace focused on supply chain finance. As part of the Mynd Group, the company leverages the RBI-licensed M1xchange TReDS platform to offer automated, off-balance-sheet, and unsecured working capital solutions for enterprises, suppliers, and financial institutions.

Furthermore, the acquisition reinforces Mynd Fintech’s long-term growth strategy by combining complementary technologies, expanding its client portfolio, and strengthening its leadership in the trade finance, invoice discounting, and working capital financing segments. The integration also positions the company to deliver faster, technology-driven financing solutions to businesses across India while supporting the country’s growing digital financial ecosystem.

As India’s fintech sector continues to witness rapid adoption of digital lending and supply chain finance platforms, the acquisition reflects the increasing consolidation within the industry. By combining operational capabilities, technology infrastructure, and an extensive customer base, Mynd Fintech aims to enhance efficiency, improve supplier financing, and accelerate the digital transformation of business payments.

Mumbai, 2nd July’2026 — As India witnesses a growing shift towards preventive healthcare, personalised medicine, biohacking, and evidence-based longevity, the focus is rapidly moving beyond simply extending lifespan to enhancing healthspan and human performance. This evolution is creating demand for platforms that bring together global experts, pioneering research, emerging technologies, and interdisciplinary collaboration to shape the future of longevity.

Against this backdrop, Fairmont Mumbai and Le Florence India have announced Longevity Summit India 2026: India Vows for Longevity, a first-of-its-kind platform dedicated to advancing conversations around longevity science, biohacking, preventive healthcare, and human performance. Scheduled to take place on 15th–16th August 2026 at Fairmont Mumbai, the summit aims to position India at the forefront of the global longevity movement.

Bringing together leading scientists, clinicians, biohackers, wellness pioneers, medical experts, entrepreneurs, investors, innovators, and luxury brands, the summit will explore the evolving intersection of science, technology, medicine, wellness, hospitality, and lifestyle while showcasing breakthrough ideas and innovations shaping the future of healthy ageing.

The summit marks a natural evolution of Fairmont Mumbai’s commitment to redefining wellness through its pioneering Fairmont Spa & Longevity and Blu Xone, India’s first luxury-integrated longevity hub. By combining advanced therapies, preventive healthcare, biohacking protocols, and personalised longevity experiences, Fairmont Mumbai has established itself as one of the country’s few hospitality destinations with a dedicated focus on healthspan optimisation.

“The conversation around wellness is evolving rapidly, and longevity is increasingly becoming one of its most important pillars,” said Rajiv Kapoor, General Manager, Fairmont Mumbai. “Longevity Summit India is a natural extension of our vision at Fairmont Mumbai. Through Fairmont Spa & Longevity and Blu Xone, we have been building experiences centred around preventive wellness and long-term vitality. The summit allows us to take that conversation beyond the hotel and create a meaningful platform that brings together global perspectives, scientific innovation, and expertise.”

Presented in partnership with Le Florence India, a name synonymous with curating some of India’s most distinguished luxury experiences, the summit reflects a shared commitment to creating transformative platforms rooted in credibility, expertise, and meaningful collaboration.

“Longevity Summit India is envisioned as a movement rather than a moment,” said Vikramjeet Sharma, Managing Director, Le Florence India. “Our ambition is to create a future-facing platform that inspires dialogue, collaboration, and innovation around one of the most important conversations of our time—how we can leverage science, technology, and preventive healthcare to help people live healthier, longer lives.”

As the summit’s Chief Scientific Curator, Dr. Arpit Bansal is leading the scientific direction of the programme, curating a two-day agenda alongside an international faculty of experts to ensure the discussions remain rooted in scientific rigour while advancing the global dialogue on longevity and human performance.

“India has the opportunity to become a global leader in longevity by combining cutting-edge science with its rich heritage of preventive health and holistic well-being,” said Dr. Arpit Bansal, Chief Scientific Curator, Longevity Summit India 2026. “Our objective is to create a platform where leading researchers, clinicians, innovators, and biohackers come together to exchange knowledge, challenge conventional thinking, and shape the future of human healthspan. Longevity Summit India is designed to establish India as an important contributor to the global longevity ecosystem.”

Further details regarding the summit programme, experiences, partnerships, and participating experts will be announced in the coming weeks.

Longevity Summit India 2026: India Vows for Longevity will take place on 15th–16th August 2026 at Fairmont Mumbai.

For Bookings:

BookMyShow: https://in.bookmyshow.com/events/longevity-summit-2026/ET00501491

About Fairmont Mumbai

Fairmont Mumbai opened its doors in April 2025 as Mumbai’s Grand Entrance—a dazzling destination where grandeur and extraordinary theatre meet the timeless elegance of the 1920s. Located near Chhatrapati Shivaji Maharaj International Airport, the hotel offers 446 luxurious rooms and suites, one of the city’s largest event spaces, and seamless connectivity for global travellers, corporate guests, and leisure seekers alike. Designed to make special happen, the hotel blends legacy and innovation through exceptional dining, pioneering wellness, and thoughtful hospitality. At its heart is Blu Xone at Fairmont Spa and Longevity, India’s first longevity-focused wellness space in a luxury hotel—redefining modern self-care through personalised healing, rejuvenation, and purposeful living.

About Le Florence India

Led by Mr. Vikramjeet Sharma, the visionary founder of Le Florence India, built the brand from the ground up with an unwavering commitment to excellence shaped by years of learning, experimentation, and obsessive attention to detail. Known for his vibrant personality, Vikramjeet brings a deeply personal touch to every client interaction, building meaningful relationships rooted in trust. His leadership style is defined by his faith in his team, empowering them with creative freedom to innovate and deliver exceptional, detail-driven experiences.

Driven by a vision to create meaningful impact beyond celebrations, the summit represents a natural evolution bringing together science, wellness, and human connection through a world-class longevity

About the Scientific Chair – Dr. Arpit Bansal

Dr. Arpit Bansal is the Chief Scientific Curator of Longevity Summit India 2026, scientifically curating the two-day programme alongside a faculty of 40 global experts. A cancer surgeon, integrative health and longevity pioneer, and one of India’s foremost biohackers—known internationally as “The Aquaman Biohacker”—Dr. Bansal works at the intersection of surgical oncology and Medicine 3.0. His expertise spans gut health, hydration science, Blue Mind neuroscience, longevity medicine, and human resilience. He has spoken across more than 15 countries, including the USA, UK, Japan, Malaysia, the UAE, Argentina, and El Salvador, and has presented on global platforms, including HoloLife. His work has also been featured at the Cannes Film Festival. Through Longevity Summit India 2026, Dr. Bansal is curating India’s first summit of its kind dedicated to longevity science and human performance, with the vision of establishing it as a global benchmark for the future of healthspan.

As brands navigate an increasingly algorithm-driven marketplace shaped by artificial intelligence, changing consumer expectations, and rapidly evolving digital ecosystems, the summit will explore how organizations can build enduring consumer trust, create differentiated experiences, and remain relevant in an era where attention alone is no longer enough.

The forum will commence with a welcome address, followed by a keynote titled “After Attention: The Authority Code for Enduring Brands. Building Trust, Relevance, and Leadership Clarity in an Algorithmic World,” to be delivered by Shailja Saraswati, Founder, Unstoppable Network. The keynote will examine how brands can move beyond visibility to establish authority, authenticity, and long-term consumer relevance while navigating the opportunities and challenges presented by AI, data, and digital transformation.

A key highlight of the evening will be the leadership panel discussion, “Engineering Brand Desire: Designing Intelligent, Seamless Experiences That Shape the Next Decade of Consumer Engagement and Brand Leadership.” The discussion will bring together distinguished marketing leaders, including

• K. Radhakrishnan, Co-Founder, IBEC India | Former Executive Leader, StarQuik, Future Group India & Reliance Retail

• Dolly Davda, Head of Marketing, BookMyShow

• Vikramjeet Bhayana, Head of Marketing, Bajaj General Insurance

• Swati Verma Bera, Vice President & Head Marketing, Mahindra Insurance Brokers

The session will be moderated by Karan Karayi, Editor-in-Chief, Team Marksmen Network.

The panel will deliberate on critical themes shaping the future of marketing and customer engagement, including predictive consumer intelligence, seamless omnichannel experiences, balancing AI with human-centric engagement, real-time responsiveness to evolving consumer behaviour, and building sustainable growth through experience-led loyalty.

The event will also be graced by Shri Sudhir Mungantiwar, Member of Legislative Assembly of Maharashtra and Former Minister for Forests, Cultural Affairs, and Fisheries, Government of Maharashtra, who will address the gathering as the Guest of Honour.

The evening will culminate with the felicitation of distinguished organizations and brands that have demonstrated excellence in brand leadership, innovation, customer engagement, and market impact across sectors.

Speaking ahead of the event, Rajesh Khubchandani, Co-Founder & Managing Director, Team Marksmen Network, had this to say. “The business environment is one that is incredibly dynamic, even more so in this age. Brand of the Year, now in its 5th edition, celebrates standout organisations from across the branding, marketing, and business landscape. Now one of the most trusted voices in the industry, we believe Brand of the Year will foster fresh, forward-looking ideas exemplified by leading brands across industries, which we applaud for their commitment to excellence.”

The 2026 edition is expected to witness participation from senior leaders representing organizations across banking and financial services, automotive, consumer goods, retail, healthcare, technology, manufacturing, and digital-first enterprises, reaffirming its position as one of the country’s premier gatherings for the marketing and branding fraternity.

About Team Marksmen Network

Team Marksmen Network is one of India’s leading knowledge platforms, curating high-impact leadership summits, industry forums, recognition platforms, and thought leadership initiatives that bring together senior decision-makers across business, government, technology, HR, marketing, healthcare, infrastructure, and public policy to foster dialogue, innovation, and collaboration.

The latest investments follow successful fundraising rounds completed by each of the portfolio companies over the past year, highlighting their growth trajectory and increasing investor confidence.

Earlier this year, Easy Home Finance (EHF) secured $30 million in a Series funding round to accelerate the expansion of its affordable housing finance business. With the latest raise, the company’s total funding has reached $80 million, positioning it to serve a larger base of homebuyers across India.

Meanwhile, trade finance platform Vayana attracted follow-on primary and secondary investments from its existing shareholders after obtaining its Non-Banking Financial Company (NBFC) licence last year. The company had previously raised $20.5 million in 2024 through a funding round led by SMBC Asia Rising Fund.

Similarly, Bengaluru-based fintech startup DPDzero, which specializes in AI-driven debt collection, raised $7 million in August last year in a funding round led by Japanese venture capital firm GMO Venture Partners. The startup continues to develop artificial intelligence-powered solutions that help financial institutions improve debt recovery and collections efficiency.

Sumitomo Mitsui Banking Corporation (SMBC) and venture capital firm Incubate Fund jointly launched the Singapore-based SMBC Asia Rising Fund in 2023. The corporate venture fund operates with a 10-year investment horizon and manages a corpus of $200 million.

The fund primarily invests in high-growth Asian fintech companies operating across sectors such as digital lending, payments, supply chain finance, banking-as-a-service (BaaS), digital assets, and financial infrastructure.

Commenting on the latest investments, Rajeev Ranka, Partner – India Investments, SMBC Asia Rising Fund, said, “Our follow-on investments reflect a simple principle: we increase conviction where we see sustained execution and expanding opportunity. Each of these companies has evolved meaningfully since our initial investment and is building capabilities that go beyond technology to become foundational enablers of India’s financial ecosystem.”

He further added, “Whether it is expanding access to housing finance, strengthening trade credit infrastructure, or modernising collections, these businesses are solving real structural challenges at scale.”

The fund also stated that it expects India’s next phase of financial sector growth to be driven by institutions and technology platforms that expand access to credit while improving capital efficiency across the financial ecosystem.

Furthermore, SMBC Asia Rising Fund noted that all three companies have demonstrated disciplined business growth, stronger operational performance, and improving operating leverage since receiving their initial investments. These developments have strengthened the fund’s conviction in supporting the companies through additional capital.

The latest follow-on investments also reflect the growing maturity of India’s fintech ecosystem, where investors are increasingly backing startups with proven business models, scalable technology platforms, and measurable financial performance rather than focusing solely on early-stage growth.

As India’s digital financial services market continues to expand, companies such as Easy Home Finance, Vayana, and DPDzero are playing an increasingly important role in improving access to credit, modernizing financial infrastructure, and enhancing operational efficiency for businesses and financial institutions. Through its continued backing, SMBC Asia Rising Fund aims to support these companies as they scale their operations and contribute to the next phase of India’s fintech growth story.

The company described the proposed combination as a strong strategic fit, bringing together Persistent’s leadership in AI-led engineering, extensive North American presence, and deep technology partnerships with Nagarro’s established European business, complementary industry expertise, AI capabilities, and enterprise resource planning (ERP) and customer experience (CX) delivery strengths.

Following the merger, the combined organisation will employ more than 46,000 professionals across over 40 countries, making it one of the largest AI-led digital engineering firms globally. The workforce will include approximately 37,000 employees in India, nearly 3,500 in North America, and around 3,000 in Europe, thereby expanding the company’s global delivery network and strengthening its ability to serve multinational enterprises.

As part of the transaction, Galaxy Germany Holding SE, a wholly owned direct subsidiary of Persistent Systems Limited, has launched a voluntary public takeover offer for all outstanding shares of Nagarro SE at a cash consideration of EUR 81 per share.

The acquisition follows the signing of a Business Combination Agreement, which outlines the framework for integrating the two organisations. Additionally, Nagarro’s Management Board and Supervisory Board have expressed their support for the proposed transaction and intend to recommend that shareholders accept the offer after reviewing the official offer document.

Furthermore, Galaxy Germany has entered into a fully binding share purchase agreement with Lantano Beteiligungen, the investment vehicle of Nagarro’s largest shareholder. Under the agreement, Lantano will sell its entire stake of approximately 21% in Nagarro to Galaxy Germany at the offered price, providing significant momentum to the acquisition process.

According to the company, the proposed merger aims to establish a globally diversified AI-led digital engineering and enterprise modernisation leader with a strong operational presence in North America and Europe while maintaining meaningful exposure across other international markets.

Moreover, the combined Persistent-Nagarro entity will strengthen its ability to support multinational enterprises that require integrated AI, digital engineering, enterprise resource planning, customer experience, cloud, and data solutions through both local and global delivery models. The expanded capabilities will enable the company to deliver end-to-end digital transformation services while addressing the growing demand for AI-powered enterprise solutions across industries.

The acquisition also aligns with Persistent Systems’ long-term growth strategy of expanding its global footprint and strengthening its position in high-growth technology segments. By integrating Nagarro’s European expertise with Persistent’s AI-driven engineering capabilities, the company aims to enhance innovation, accelerate digital transformation initiatives, and create greater value for enterprise customers worldwide.

India already has a deep racket-sport ecosystem. Nearly 35 million players across racket sports form a large conversion pool for newer formats. Within this, the padel market is estimated at USD 25 to 30 million today and is projected to scale nearly 10x to USD 250 to 300 million by 2036. Participation has grown roughly 100x in three years, from 500 to 1,000 players in 2022 to nearly 100,000 in 2025.

The report captures how racket sports are moving beyond trial into repeat habit. Games per padel user player rose 73%, from 5.3 to 9.2 per year, and regular or heavy users now account for 34.5% of the padel base, the highest engagement of any racket sport on Hudle. Sessions average 1.75 hours, the longest on the platform, and 12-month retention sits at 55%. Most sports dilute as they scale. Padel concentrates.

“The most encouraging signal for us is that padel is showing the characteristics of habit, not hype. Players are returning more frequently, spending longer on court and making the sport part of their weekly routines. That’s usually the point where categories start compounding, and we believe India is just getting started,” said Suhail Narain, Co-founder and CEO, Hudle.

Crucially, the audience is not just engaged. It is affluent. 79% of padel players are on iOS, against national penetration of 5 to 8%, and 55% fall in the 27 to 39 age group, a cohort the report notes is roughly a decade younger than the global padel average. Padel, the report argues, is competing less with other racket sports than with the urban wellness wallet. That positioning shows in pricing. Padel is India’s most expensive racket sport, at roughly 3x pickleball and 4x tennis, and the premium is widening rather than softening even as supply scales.

Participation is also widening geographically. Early growth concentrated in Mumbai and Delhi NCR before expanding across Tier 1 cities in 2025 and beginning to emerge in Tier 2 and Tier 3 markets. Demand is already outpacing supply in these clusters. Delhi NCR and Mumbai run at 636 and 505 active players per court against a national average of 305, pointing to acute peak-hour pressure where the category is most established.

Supply is scaling in step. India has around 500 courts today, up from 80 to 100 in 2023, with 48 new venues opening in the first four months of 2026 alone at a 70% annualised growth rate. But the report is clear that court count is not the whole story. Booking remains concentrated among standout clubs, with the top 40 venues accounting for 75% of national padel bookings.

“Our data gives us a front-row view of how India plays. What we’re seeing is that players aren’t just booking courts. They want people to play with, ways to compete, and opportunities to improve. That’s why Hudle is evolving beyond booking and building the infrastructure that powers how people experience, connect, and grow through sport,” added Narain.

Capital has moved early. Sport-pedigreed investors are backing the leading platform. Hudle closed a USD 2.5 million Series A in early 2025, led by Sky Impact Capital, with Mahesh Bhupathi and Ajinkya Rahane among the investors.

Female participation remains early, but the momentum is real. The female share of new padel users on Hudle rose from 9% in 2022 to 16% in 2025, against a global benchmark near 40%, making it the single biggest untapped growth lever.

Looking ahead, the report indicates India could cross 1 million padel players by 2036, requiring more than 4,000 courts over the next decade, provided coaching, junior pathways, covered facilities, club formats, and female participation continue to improve. As padel and pickleball move from niche urban formats to structured recreational ecosystems, Hudle is positioned as the participation infrastructure powering how India plays, books, competes, and builds community across racket sports.

About Hudle

Hudle is India’s leading sports community platform, enabling people to discover venues, book games, join communities, play tournaments, access coaching, and improve through skill ratings. With more than 15 lakh players, 2,000+ venues across 140+ cities, and over 40 sports, Hudle is building the participation layer for India’s recreational sports ecosystem. The platform facilitates over 200,000 games every month and plays a key role in digitising venues, supporting grassroots participation, and generating large-scale sports behaviour insights.

Furthermore, the company plans to expand its network to 1,500 micro-fulfillment centers by the end of 2026. This aggressive expansion strategy will help Flipkart increase its market presence as competition intensifies among major players such as Blinkit, Zepto, Swiggy Instamart, and Amazon.

According to a recent Jefferies report, Flipkart could become India’s second-largest quick commerce network by micro-fulfillment center count based on existing store numbers and announced expansion plans. Currently, Blinkit leads the segment with 2,243 micro-fulfillment centers, while Zepto and Swiggy Instamart continue to scale their infrastructure to capture a larger share of the market.

India has emerged as one of the world’s fastest-growing quick commerce markets. Companies across the sector continue to invest heavily in infrastructure, technology, and customer acquisition to deliver groceries, electronics, beauty products, personal care items, and household essentials within minutes. Blinkit, owned by Eternal, currently dominates the segment, while Zepto, Swiggy Instamart, Flipkart, and Amazon continue to strengthen their footprints nationwide.

Meanwhile, Amazon has accelerated the rollout of Amazon Now in recent months. The service currently operates in more than 15 cities and utilizes over 500 micro-fulfillment centers. Amazon aims to expand the service to 100 cities while operating more than 1,000 micro-fulfillment centers. Additionally, the company plans to diversify its product assortment beyond groceries and offer categories such as fashion, consumer electronics, and home products.

Consumer shopping behavior on Flipkart Minutes has also evolved significantly since the platform launched in August 2024. Demand now extends beyond grocery purchases and increasingly includes electronics, beauty products, and personal care items. Kunal Gupta, Head of Flipkart Minutes, shared these insights during an interview.

According to Gupta, orders on Flipkart Minutes have increased by approximately 400% compared to the previous year, while customer retention has improved by 20% year-over-year. However, the company provided both figures, and independent verification remains unavailable.

“What began as a way to fulfill everyday essentials has evolved into a fundamentally new shopping habit for millions of Indians,” Gupta said. “Customers are not just ordering more; they are ordering differently.”

In addition, Flipkart has expanded Minutes operations to more than 130 cities and over 8,000 postal codes across India. The company has increasingly driven growth from smaller cities beyond major metropolitan regions. According to Flipkart, these emerging markets delivered growth exceeding 4,000% compared to the previous year, supported by expansion into 90 new cities.

Gupta emphasized that newly launched markets continue to mature at a faster pace than expected. He highlighted cities such as Patna, Guwahati, and Siliguri as examples where newly opened fulfillment centers have gained traction rapidly. He also identified Lucknow as one of the platform’s strongest-performing markets despite the company not yet achieving complete network coverage across the city.

Similarly, Amazon continues to focus on smaller cities and emerging markets. The company informed TechCrunch that 70% of its new Prime members originate from non-metro locations. Amazon also stated that it remains on track to double its Prime membership base from 2023 levels by the end of the year. Additionally, the company revealed that everyday essentials now account for one out of every two units shipped through Amazon.in, while Amazon Now has encouraged customers to shop more frequently.

Gupta further noted that customers increasingly use Flipkart Minutes alongside the company’s core e-commerce platform rather than replacing traditional online shopping entirely. This complementary usage pattern has increased purchasing frequency and supported category expansion into fresh produce and daily essentials. The company also reported a 30% year-over-year increase in average order values for fruits and vegetables.

Looking ahead, Flipkart plans to maintain its aggressive growth trajectory by opening between 75 and 100 micro-fulfillment centers every month. Simultaneously, the company intends to expand its operations into additional cities throughout India.

The rapid expansion efforts by both Flipkart and Amazon highlight India’s growing importance as a global testing ground for the future of e-commerce and quick commerce. Companies increasingly seek to transform quick commerce from a grocery-focused delivery model into a comprehensive shopping ecosystem that caters to a wide range of consumer needs.

Industry data from Bernstein indicates that India already hosts more than 5,500 dark stores. Analysts expect this number to increase to approximately 7,500 by 2030 as companies expand deeper into Tier-II and Tier-III cities while broadening their product portfolios.

“We will continue to expand rapidly, will not slow down after 1,000 stores as well, and we are going all in,” Gupta said.

As India’s quick commerce market continues to expand at an unprecedented pace, Flipkart Minutes and Amazon remain at the forefront of a transformation that is reshaping consumer shopping habits. With aggressive investments in dark stores, micro-fulfillment centers, logistics infrastructure, and category expansion, the sector is moving far beyond grocery delivery. Consequently, the next phase of India’s e-commerce growth will likely depend on how effectively companies scale operations, improve delivery speeds, and capture demand from emerging cities across the country.