Grocery delivery startup Apna Mart cuts 10% workforce as AI adoption and Gurugram shift reshape operations

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May 6, 2026

Grocery delivery startup Apna Mart cuts 10% workforce as AI adoption and Gurugram shift reshape operations — Abhishek Singh and Chetan Garg, co-founders, Apna Mart

Apna Mart, backed by Accel and Peak XV Partners, has reduced its workforce by around 10% as it integrates AI into business operations and shifts its base from Bengaluru to Gurugram, according to people aware of the developments who requested anonymity. Subsequently, the company confirmed the layoffs.

In an internal email sent to employees, the company stated, “…your role has been impacted as part of our transition from Bangalore to base locations.” Furthermore, it confirmed that affected employees will receive severance pay equivalent to two months of their salaries.

In response to queries, the company said, “This is part of a broader organisational restructuring where we are aligning teams closer to our core markets. We had to let go of the employees for whom relocation wasn’t possible. At the same time, some roles are simply no longer needed because the work is now handled by AI.” Notably, the 10% workforce reduction translates to approximately 35–40 employees across multiple verticals.

Meanwhile, Apna Mart has decided to base its product and technology teams in Gurugram. Currently, the company operates across 10 cities in Jharkhand, Chhattisgarh, and West Bengal, where it maintains operational teams. The company said, “We have historically operated and executed from these cities, and this move is in line with that approach.”

Founded by Abhishek Singh and Chetan Garg, Apna Mart operates on a franchisee model and delivers groceries within 10 minutes in Tier-II and Tier-III cities. Additionally, it follows an omnichannel approach that allows customers to purchase groceries both in-store and online. At present, the company operates approximately 185–195 stores, positioning itself strongly in the evolving quick commerce India and online grocery delivery segments.

However, Apna Mart faces intense competition from established quick commerce players such as Blinkit, Instamart, and Zepto. Blinkit currently leads the market with 2,243 dark stores as of March, while Instamart operates 1,034 dark stores as of December 2025, and Zepto maintains around 1,050–1,100 stores as of March. These companies primarily rely on a dark store and delivery-only model.

In contrast, Apna Mart adopts an omnichannel model similar to Reliance JioMart, combining physical retail stores with online ordering. Moreover, the competitive landscape has intensified as e-commerce giants Amazon (through Now) and Flipkart (through Minutes) have entered the quick commerce segment and expanded aggressively over the past year.

From a financial perspective, Apna Mart reported a net loss of Rs 75.8 crore on revenue of Rs 190 crore for FY25, according to its filings with the Registrar of Companies. Nevertheless, the company claimed it achieved 2.5x growth in FY26 and closed the year with Rs 500 crore in revenue. However, it did not disclose its profitability figures, and it has not yet officially released its FY26 financial results.

Overall, Apna Mart’s decision to implement layoffs reflects a broader shift across the AI-driven startups, retail tech, and quick commerce sectors, where companies increasingly adopt automation while optimising operational costs and geographic strategy.

Davis raises €4.6M pre-Seed to transform real estate development with AI-powered architectural design

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May 6, 2026

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Davis, an AI-native real estate company focused on accelerating early-stage development and architectural design, has raised €4.6 million ($5.5 million) in a pre-seed funding round. Heartcore Capital and Balderton Capital led the round, while Yellow, Evantic, and Entrepreneurs First also participated. In addition, angels from the founding teams of SpaceMaker, Black Forest Labs, Hugging Face, Supabase, Cleo, and Spore.bio joined the round.

Alongside the funding, Davis has introduced Gaudi-1, its first proprietary model designed to generate architectural designs under real-world constraints. This launch highlights the company’s push into AI-driven architecture, proptech innovation, and generative design technology.

Mehdi Rais, co-founder and CEO of Davis, said, “Real estate is one of the world’s largest asset classes, yet some of its most important workflows still move at a pace that no longer makes sense. We started Davis to set a new time standard for real estate development and ultimately to reshape how cities are designed and built.”

Founded in 2025 by Mehdi Rais and Amine Chraibi, the company combines proprietary AI with human expertise to deliver architect-grade outputs within hours or days instead of weeks or months. Consequently, Davis aims to compress early-stage development timelines significantly while keeping human experts actively involved in the process.

Moreover, the platform transforms regulatory, technical, and market data into structured constraints for feasibility studies. These include site limitations, return on investment (ROI), volumetrics, floor plans, and space planning. Subsequently, human experts review each output before delivery, ensuring accuracy and compliance with real-world requirements.

Currently, the company addresses a fragmented process in which multiple stakeholders manage site analysis and architectural concept development separately. However, Davis integrates these workflows into a unified system, thereby streamlining the entire real estate development lifecycle.

“At the core of Davis’ technology is a new approach to generative modelling for the built environment. Unlike traditional diffusion models that operate in continuous pixel space, Davis’ systems operate in a discrete space, generating buildings as structured compositions of architectural elements such as rooms, walls, and layouts,” the company explained in the press release.

As a result, this approach enables greater control, faster iteration, and outputs that consistently meet regulatory, financial, and design requirements. This advancement positions Davis at the forefront of AI in construction, smart city design, and digital real estate solutions.

Additionally, Davis has introduced Gaudi-1 as its first proprietary model for automated architectural generation under regulatory constraints. The company stated that it has achieved “state-of-the-art” results on established floor-plan generation benchmarks, including RPLAN and MSD, across IoU, FID, and KID metrics.

In terms of its business model, Davis operates through a service-based approach rather than selling standalone software. It uses its technology to deliver completed outputs directly to developers and investors. Furthermore, the platform works across multiple asset classes and geographies, adapting to local regulations through input data, thereby enhancing its scalability in the global proptech market.

Max Niederhofer said, “What’s distinctive about Davis is how three elements reinforce each other: a generative model operating in a discrete architectural space under regulatory constraints, an architect-in-the-loop validation layer, and the resulting compression from months to days in an industry where time drives returns. We’re excited to back Mehdi and Amine as they reshape how the built world is designed and developed.”

Looking ahead, Davis is actively collaborating with developers and expects to support hundreds of projects over the coming year. At the same time, the company plans to expand its research capabilities, accelerate hiring, and further verticalise the real estate development process.

Davis’ latest funding round and the launch of Gaudi-1 underscore the growing role of artificial intelligence in real estate, particularly in improving efficiency, reducing timelines, and enhancing design accuracy.

Z Hotels expands Bengaluru footprint with launch of U by Z Hotel Brookefield

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May 6, 2026

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Z Hotels has announced the opening of U by Z Hotel Brookefield, marking a significant milestone in its expansion across India’s growing business travel markets. Located in Brookefield, the property becomes the brand’s fourth hotel in Bengaluru and its sixth operational property nationwide, thereby reinforcing its focus on delivering high-quality, mid-scale hospitality across key corporate hubs.

Moreover, the project strengthens the overall footprint of the hospitality sector in India, aligning with broader trends in hotel expansion, business travel accommodation, and urban hospitality growth.

Z Hotels continues to expand strategically in Bengaluru, one of India’s most dynamic technology and business-driven markets. With an existing presence in Mumbai, Gurgaon, and multiple locations in Bengaluru, the company is steadily building a robust network across high-demand urban corridors. Consequently, the new property is well-positioned to cater to corporate travelers and professionals working in nearby IT and business districts.

The hotel features 74 rooms that combine contemporary design with functional comfort. Additionally, the accommodation caters to both short-term business stays and extended visits, addressing the evolving needs of modern professionals. The rooms aim to deliver a seamless stay experience by balancing efficiency with comfort, especially for guests operating in fast-paced corporate environments.

Furthermore, the property includes a 70-seater multi-cuisine restaurant designed to offer a curated dining experience. The restaurant supports multiple use cases, including business meetings, team dinners, and casual dining. As a result, the inclusion of on-site dining enhances convenience for guests and strengthens the hotel’s positioning within the corporate hospitality segment.

Strategically, the hotel benefits from its proximity to major IT parks and corporate offices in Brookefield. This advantage significantly reduces commute time for business travelers, making it a practical choice for professionals seeking accommodation close to their workplace. Therefore, the location aligns directly with the brand’s focus on business-centric hospitality solutions.

Commenting on the launch, Avnish Kumar, Assistant Vice President (Operations), Z Hotels, said, “The launch of U by Z in Brookefield, Bangalore, is a significant milestone in our journey toward operational excellence on a national scale. As our sixth operational hotel in India and our fourth in Bangalore, this property highlights our ability to scale rapidly while maintaining the high service standards our guests expect.

Managing 74 keys and a 70-seater restaurant in a high-demand IT hub like Brookefield requires a precise operational framework. We have ensured that our team is trained to deliver a seamless experience that caters to the efficiency and comfort of the modern corporate traveler. This opening reinforces our commitment to expanding our footprint across the nation, bringing the Z Hotels experience to every major business corridor in India.”

Adding further perspective, Aijaz Ahmad, Senior Director (Sales), Z Hotels, said, “The launch of U by Z in Brookefield is a proud moment for us as we continue to scale our footprint across India. This property represents the perfect synergy of comfort and efficiency that Z Hotels is known for. With six hotels now successfully operating across Mumbai, Gurgaon, and Bangalore, we are well on our path to becoming a national leader in the mid-scale hospitality segment. Our focus remains steadfast on delivering consistent, high-value experiences as we expand into new territories.”

Importantly, this launch highlights Z Hotels’ strong focus on the mid-scale hospitality segment, where demand continues to rise across major business cities. The company continues to center its strategy on delivering consistent service standards while scaling operations across multiple markets.

At the same time, the hotel’s location, room inventory, and dining facilities position it effectively to serve corporate travelers. It supports both business stays and small-scale meetings, aligning with evolving corporate travel trends and urban business mobility needs.

The launch of U by Z Hotel Brookefield strengthens Z Hotels’ presence in Bengaluru while reinforcing its broader expansion strategy across India’s key business destinations. As demand for business hotels, corporate stays, and mid-scale accommodation continues to grow, Z Hotels remains well-positioned to capitalize on emerging opportunities in India’s hospitality landscape.

Freshworks reports $228.6M revenue in Q1, announces job cuts amid margin pressure

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May 6, 2026

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Freshworks reports $228.6M revenue in Q1, announces job cuts amid margin pressure — Dennis Woodside, CEO, Freshworks

Freshworks Inc. reported a 16% year-on-year increase in revenue to $228.6 million for the first quarter ended March 31, 2026, as strong demand for its employee experience (EX) platform and AI-led offerings continued to fuel growth. The company had posted revenue of $196.3 million in the corresponding quarter last year. Moreover, on a sequential basis, revenue grew from $222.7 million in Q4 2025, indicating consistent and stable business momentum in the competitive SaaS industry.

“Freshworks began Q1 with strong momentum, building on our 2025 successes and achieving our sixth straight quarter of exceeding expectations,” said Dennis Woodside, CEO and President of Freshworks adding that demand for its EX platform and AI Copilot offerings continued to drive expansion. This reflects the increasing adoption of AI-powered customer and employee experience solutions across enterprises.

However, the company reported a GAAP operating loss of $8.1 million in Q1 2026, although it narrowed from a loss of $10.4 million a year earlier. At the same time, the company reversed its position from Q4 2025, when it had recorded a GAAP operating profit of $39.7 million, highlighting ongoing margin pressures in the cloud software market.

Meanwhile, Freshworks announced plans to reduce its global workforce by approximately 11%, impacting around 500 employees, as part of a broader restructuring strategy. This move comes as global SaaS companies face increasing pressure on growth efficiency and profitability. The layoffs will affect operations across India and the United States, signaling a shift toward leaner operational models.

The company expects to incur one-time restructuring charges of about $8 million, with most of these costs likely to be recognised in the second quarter of 2026, said Tyler Sloat during the company’s Q1 earnings call on May 6. This restructuring aligns with broader tech industry cost optimisation trends.

In terms of adjusted performance, non-GAAP operating income stood at $41 million, down from $46.4 million in the previous year, while margins contracted to 17.9% from 23.6%. Sequentially, the figure remained largely flat compared with $41.6 million in Q4, although margins declined, indicating cautious profitability trends despite steady revenues.

Additionally, GAAP net loss per share came in at $0.02, compared with breakeven ($0.00) a year ago. In contrast, the company had reported a profit of $0.67 per share in Q4 2025, reflecting a sharp sequential drop. On a non-GAAP basis, earnings per share declined to $0.11 from $0.18 a year earlier and also fell from $0.14 in the previous quarter. Despite this, the company maintained profitability on an adjusted basis, even as per-share earnings softened.

Furthermore, GAAP refers to standardised accounting principles that companies must follow, whereas non-GAAP metrics exclude items such as stock-based compensation or one-time expenses to provide a clearer view of underlying operating performance—an important distinction for investors tracking earnings analysis and financial performance metrics.

On the cash flow front, Freshworks maintained steady performance, with operating cash flow rising to $62.4 million from $58 million a year ago. Adjusted free cash flow stood at $55.8 million, while the company ended the quarter with a strong cash position of $780.4 million in cash and equivalents. This reinforces its financial stability amid evolving market conditions.

Following the earnings announcement, Freshworks’ shares rose about 2% to trade at around $0.19 apiece. However, the stock remains down roughly 26% year-to-date, reflecting broader volatility in technology stocks and investor sentiment around growth-oriented companies.

Importantly, the company secured two of the largest deals in its history during the quarter, including its first contract exceeding $1 million in annual recurring revenue (ARR). This milestone highlights increasing traction in the enterprise segment and strengthens its position in the enterprise SaaS market.

Among key operating metrics, the number of customers contributing over $100,000 in ARR increased 29% year-on-year. Meanwhile, net dollar retention stood at 106%, slightly lower than 108% in Q4 2025, indicating stable but moderating customer expansion trends.

Looking ahead, Freshworks expects Q2 2026 revenue to range between $232 million and $235 million. Additionally, the company raised its full-year revenue guidance to between $958 million and $964 million, signaling continued confidence in achieving double-digit growth in the global SaaS landscape.

“As we grow Freshworks to a $1 billion ARR company and beyond, our EX business represents the primary and largest growth opportunity,” Woodside said during the company’s earnings call. This outlook underscores the company’s strategic focus on scaling its EX platform and expanding its enterprise footprint.

The company also highlighted strong adoption of its AI offerings. “In Q1, Freddy AI Copilot customer growth exceeded 80% year-on-year, while the attach rate in new deals above $30,000 ARR was over 65%. Within its EX business, customer penetration for AI crossed 20%, nearly doubling from a year ago, and about one-third of all new EX customers adopted Copilot,” Woodside said.

Freshworks’ Q1 2026 results reflect a balanced narrative of steady revenue growth, rising enterprise adoption, and expanding AI capabilities, alongside profitability pressures and workforce restructuring. As the company continues to invest in AI innovation, employee experience platforms, and enterprise software solutions, it remains well-positioned to capitalise on long-term growth opportunities while navigating near-term market challenges.

Premji Invest eyes stake in Emergent’s $250 Mn funding round at $1.5 Bn valuation

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May 6, 2026

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Premji Invest eyes stake in Emergent’s $250 Mn funding round at $1.5 Bn valuation — Mukund Jha and Madhav Jha, co-founders, Emergent

In a significant development in the startup funding ecosystem, Premji Invest has entered discussions for a potential investment in the vibe coding platform Emergent as part of its upcoming $250 million funding round. Notably, this round could value the company at $1.5 billion, marking a fivefold surge from its previous valuation, according to people familiar with the matter.

This development follows closely after Emergent secured $70 million in funding from Khosla Ventures and SoftBank just three months ago, at a valuation of $300 million. Meanwhile, discussions with Premji Invest began last week, and the firm is currently conducting its evaluation process, as one of the sources indicated.

Furthermore, the ongoing funding round is expected to witness participation from Bengaluru-based investment firm Creaegis, which may potentially co-lead the round alongside other investors. This signals strong investor confidence in the rapidly growing AI coding platform and vibe coding startup space.

“The talks are still on to decide the lead investors of the round, and details are yet to be finalised,” the person said. Additionally, the round will include participation from existing investors, further strengthening Emergent’s funding base. However, Premji Invest declined to comment on the development, while Emergent did not respond to queries.

As the AI startup funding landscape continues to gain momentum, Emergent’s sharp valuation jump highlights increasing investor appetite for next-generation coding platforms and developer-focused AI solutions. If finalised, this deal could position Emergent as a key player in the evolving global tech ecosystem.

The potential investment by Premji Invest underscores the growing importance of AI-driven innovation, venture capital trends, and high-growth startups in shaping the future of technology. Market participants will closely watch how this funding round unfolds and how Emergent leverages the capital to scale its platform and expand its market presence.

Lemon Tree Hotels achieves 100% green certification, hits 50% renewable energy usage milestone

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May 5, 2026

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Lemon Tree Hotels Ltd. has announced a major milestone in its ESG journey by achieving 100% green building certification across its portfolio of 41 owned hotels. Additionally, the company has reached a 50% renewable energy usage exit rate as of March 31, 2026. This dual accomplishment highlights the company’s sustained focus on responsible growth and strengthens its leadership in advancing sustainability within India’s hospitality sector.

The Indian Green Building Council, a part of the Confederation of Indian Industry, has certified these hotels under multiple parameters, including sustainable architecture and design, site planning, water conservation, energy efficiency, building materials, indoor environmental quality, and innovation.

Since 2012, the company has consistently followed a design-first sustainability strategy by developing all owned hotels in line with IGBC green building standards. Consequently, it has ensured the seamless integration of energy efficiency, water stewardship, sustainable materials, and reduced environmental impact across its portfolio while complying with regulatory frameworks. Currently, the portfolio includes 2 platinum-certified hotels, 22 gold-certified hotels, 6 silver-certified hotels, and 11 certified-level properties.

Moreover, the company’s transition to 50% renewable energy usage reflects a broader structural shift in the hospitality industry. Businesses now prioritize energy sourcing, operational efficiency, and long-term cost optimization as essential components of resilience, rather than treating sustainability as a secondary objective.

Speaking on the achievement, Neelendra Singh, managing director & CEO of Lemon Tree Hotels Ltd., said, “The hospitality industry is at an inflection point where sustainability must move beyond intent to measurable action at scale. Our journey towards a fully green-certified owned portfolio and increased reliance on renewable energy reflects a long-term, design-led approach to building future-ready hotels. This achievement demonstrates that large-scale portfolio transformation to green-certified assets is both viable and commercially scalable, redefining how hotel companies can approach growth, development, and operations in an increasingly resource-constrained environment. It is also a testament to the collective commitment of our teams, who have embedded sustainability into every stage of design and operations.”

Appreciating the achievement, C. Shekar Reddy, National Chairman of the Confederation of Indian Industry IGBC, said, “This is a landmark achievement for India’s hospitality sector. Lemon Tree Hotels’ accomplishment of 100% green certification with IGBC across its owned hotels’ portfolio across the country reflects a deep and long-term commitment to sustainability. By integrating IGBC’s green building principles right from the design stage, they have demonstrated how environmental responsibility can go hand in hand with operational efficiency, business resilience, and enhanced guest experience. Such leadership sets a powerful benchmark for the industry and strengthens the growing role of green buildings in shaping a low-carbon, resource-efficient future for India.”

At the same time, as ESG considerations gain traction among investors, regulators, and consumers, the hospitality industry continues to shift toward accountability, transparency, and performance-driven sustainability metrics. In this evolving landscape, Lemon Tree Hotels provides a practical blueprint for aligning growth with environmental responsibility while maintaining operational efficiency and guest satisfaction.

The company has structured its sustainability framework around four key pillars. It has accelerated energy transition through renewable adoption and efficiency improvements. In addition, it has implemented comprehensive water stewardship practices, including conservation and recycling. It has also prioritized inclusive and responsible design through sustainable architecture while leveraging operational intelligence for continuous resource optimization.

Lemon Tree Hotels Ltd. will continue to place sustainability at the core of its growth strategy as it expands both domestically and internationally. By focusing on innovation, efficiency, and responsible design, the company aims to set new benchmarks in sustainable hospitality while driving long-term value creation.

AI startup Sierra raises $950 Mn in funding, valuation crosses $15 Bn in AI boom

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May 5, 2026

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AI startup Sierra raises $950 Mn in funding, valuation crosses $15 Bn in AI boom — Bret Taylor, co-founder, Sierra

Sierra, the AI startup founded by Bret Taylor, has raised $950 million in a funding round led by Tiger Global and GV, the company said. As a result, the funding has pushed Sierra’s post-money valuation beyond $15 billion. Moreover, the company now holds more than $1 billion in capital, which it plans to deploy to become the “global standard” for AI-powered customer experiences.

In a highly competitive AI market, Sierra has actively highlighted its rapid growth trajectory. Initially, the company started with just four design partners a few years ago. However, it now claims that more than 40 percent of the Fortune 50 companies use its platform. Additionally, AI agents running on Sierra’s platform currently handle billions of interactions, including mortgage refinancing, insurance claims processing, product returns, and nonprofit fundraising campaigns.

Furthermore, the AI startup has demonstrated aggressive revenue expansion. The company reported reaching $100 million in annual recurring revenue (ARR) in late November, and shortly afterward, it announced that it had scaled to $150 million in ARR by early February. This rapid growth reflects both increasing enterprise demand for AI solutions and the significant investments required to implement them.

Bret Taylor, who also serves as chairman of OpenAI and previously worked as co-CEO of Salesforce, has emphasized that agentic AI can ultimately reduce costs and increase revenue for businesses. However, he has also acknowledged that companies often face high upfront costs during the initial deployment phase.

This trend recently surfaced during a discussion at one of the events. During the conversation, Praveen Neppalli Naga, CTO of Uber, explained how the company rapidly consumed its AI budget after adopting agentic AI tools late last year. At the same time, he noted that Uber has started to observe meaningful results from these investments.

Notably, Uber has already integrated AI deeply into its engineering workflows. Approximately 10 percent of all code produced across its 8,000 engineers and technical staff is now generated autonomously. He added that “10% at our scale is huge.” In a practical demonstration, Uber assigned one team to build a new hotel-booking integration entirely using agentic workflows. Consequently, the team completed a project that would typically take a year in just six months.

Meanwhile, Sierra continues to expand its product capabilities beyond customer-facing AI agents. In April, the company launched Ghostwriter, an “agent as a service” tool that enables users to build other AI agents. With this feature, users can describe their requirements in natural language, and Ghostwriter autonomously creates and deploys specialized agents to perform those tasks.

For Bret Taylor, this innovation supports a broader vision he shared at the HumanX conference in San Francisco. He argued that many enterprise software tools remain underutilized, as employees interact with platforms like Workday only during specific events such as onboarding or open enrollment. Therefore, the AI startup and its investors envision a future where users no longer need to navigate complex enterprise systems, as AI agents will handle tasks seamlessly in the background.

Delhivery grants 1 Lakh ESOPs to employees under ESOP 2012, strengthens talent retention strategy

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May 5, 2026

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Delhivery has granted 1,00,360 stock options to eligible employees under its Employee Stock Option Plan 2012 (ESOP 2012), according to a filing with stock exchanges. The company made the grant effective May 1.

Furthermore, the company’s board approved the grant on May 4. Each stock option converts into one fully paid-up equity share with a face value of Re 1, and the company has set the exercise price at Re 1 per share. Meanwhile, the stock closed at ₹467.30 on Monday on the BSE, reflecting current market valuation.

Out of the total allocation, the company will vest 88,360 options over four years. Specifically, it will vest 10 percent after 12 months, 30 percent after 24 months, and 15 percent every six months thereafter, as stated in the filing. In addition, the remaining 12,000 options will follow a different vesting schedule, with 40 percent vesting after 12 months and 15 percent every six months subsequently.

Moreover, the company will issue newly allotted shares without any lock-in period, and these shares will rank equally with existing equity shares from the date of allotment.

ESOPs continue to serve as a key strategy for new-age companies to retain talent, drive employee engagement, and enable wealth creation through equity participation. In line with this trend, the Gurugram-based logistics firm has consistently issued ESOP grants, including a similar allocation in April.

At the same time, several prominent startups have adopted similar strategies. Companies such as Paytm, Ather Energy, Groww, and Unacademy have recently granted stock options to employees, thereby reinforcing the growing importance of ESOPs in India’s startup ecosystem.

Delhivery continues to leverage ESOPs as a strategic tool to attract and retain talent while aligning employee incentives with long-term business growth. As competition intensifies across sectors, structured equity compensation plans remain critical for sustaining workforce motivation and driving organizational performance.

India’s first AI unicorn Krutrim achieves profitability, strengthens AI cloud business with domestic focus

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May 5, 2026

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India’s first AI unicorn Krutrim achieves profitability, strengthens AI cloud business with domestic focus — Bhavish Aggarwal, Founder of Ola Krutrim

Krutrim, India’s first AI unicorn, has repositioned itself as a dedicated domestic AI cloud services provider while reporting strong financial performance for FY26.

The company posted revenues of approximately ₹300 crore in FY26, marking a threefold increase compared to FY25. Additionally, it recorded its first annual net profit, achieving a profit-after-tax margin of over 10 percent. This development signals a critical milestone in Krutrim’s transition toward a sustainable, infrastructure-driven business model.

The company initiated this repositioning after executing a strategic business realignment in late 2025. As part of this shift, Krutrim deliberately reallocated capital and talent resources. It also paused its chip design initiatives to focus entirely on building and scaling its core AI cloud services stack.

As a result, Krutrim has developed a fully integrated, in-house cloud platform that operates at scale without relying on external dependencies. Moreover, the platform demonstrates strong vertical integration across the cloud stack, which enhances performance optimization, improves cost efficiency, and provides greater operational control for AI and enterprise workloads.

Currently, Krutrim stands among a limited group of players in India that operate a fully domestic, full-stack AI cloud platform at production scale. The company supports complex, real-time workloads across multiple sectors, including mobility, manufacturing, and customer operations, thereby expanding its enterprise relevance.

Furthermore, this strategic pivot has fundamentally transformed the company’s business structure. Krutrim has achieved financial self-sufficiency and no longer requires immediate external funding, including support from its founder. The company attributes its first net profit not only to revenue growth but also to a disciplined operating model centered on AI cloud services.

A Krutrim spokesperson said, “The company has reached an important milestone of being profitable, self-funded, and gaining market traction. Our AI cloud is built for Indian enterprises, by Indian engineers. The external client momentum we are seeing validates the depth of our platform.”

At the same time, the repositioning has started generating strong external market traction. Krutrim has witnessed growing adoption, with more than 25 large enterprise clients now using its platform. These clients include major telecom providers, leading financial institutions, consumer internet companies, and AI and deep-tech firms, as well as organizations in healthcare, logistics, and digital-first sectors. This diverse client base highlights the platform’s applicability beyond the Ola Group ecosystem.

In addition, Krutrim’s GPU compute infrastructure has seen significant demand from external enterprises. The company has already allocated a majority of its available capacity to enterprise workloads, thereby indicating strong market validation for its AI cloud capabilities.

As demand for sovereign AI solutions accelerates, Krutrim’s infrastructure-led approach could play a key role in shaping the future of AI cloud services in India.

Dream Sports launches AI-powered DreamStreet to disrupt India’s stock broking market and attract new investors

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May 5, 2026

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Dream Sports, the parent company of Dream11, has officially launched DreamStreet, an AI-powered stock broking platform aimed at transforming how Indians invest in financial markets.

With this strategic move, DreamStreet aims to capture India’s rapidly growing retail investor segment. Notably, the company has designed the platform to cater to first-time investors as well as individuals who have traditionally avoided stock markets due to complexity or lack of reliable guidance. Earlier, it was reported that Dream Sports planned to enter the stock broking space in March 2025, and the company has now executed that vision.

At the time of launch, DreamStreet enables users to invest in stocks and ETFs. Furthermore, the platform will roll out Futures & Options (F&O) trading and IPO investment features in the coming weeks, thereby expanding its offerings for a broader investor base.

Leadership for DreamStreet includes Dream Sports chief product officer Rahul Mirchandani, who will serve as CEO. Meanwhile, Dream11 product leaders Karan Bansal and Nikhil Lalvani will take on the roles of CBO and CPO, respectively, strengthening the platform’s product and business strategy.

Additionally, DreamStreet integrates advanced features such as stock recommendations from SEBI-registered experts, including research analysts and investment advisors. Alongside this, the platform provides AI-powered access to stock insights. Importantly, it introduces an in-built AI assistant named Veda, which delivers data-driven insights and analysis to support informed decision-making, according to the company. Over the coming months, DreamStreet plans to introduce more capabilities to further simplify investing for users.

“India’s demographic tailwinds—rising disposable incomes, growing financial literacy, and rapid smartphone adoption—are creating a generational opportunity for new retail participation in financial markets,” Mirchandani said.

“By integrating AI-enabled data & information into the core of the platform, we want to help users cut through complexity so that more Indians can be a part of the India growth story,” he added.

This launch also marks a significant expansion of the Mumbai-based company’s financial services and wealth management portfolio. Previously, in December, it was reported that Dream Sports reorganized its structure into eight independent business units, each led by dedicated leadership. Moreover, the company operates across 11 business verticals, including investments in sports leagues such as a Mumbai rugby team and an England-based professional football club, along with its philanthropic arm, the Dream Sports Foundation.

The restructuring followed regulatory disruptions in the online gaming sector, where new laws significantly impacted Dream Sports’ core fantasy sports business by reducing 95 percent of its revenue and eliminating profitability. Consequently, the company has actively diversified into new growth areas like fintech and wealth management.

At the same time, DreamStreet enters a highly competitive and evolving stock broking ecosystem in India. Several fintech and consumer internet companies are aggressively exploring this space. For instance, MobiKwik has secured regulatory approvals to launch broking services. Similarly, Super.money and CRED are actively developing investment offerings.

However, the market already features strong digital incumbents such as Groww, Zerodha, and Angel One, making competition intense.

Moreover, recent regulatory changes have reshaped the trading landscape. Tighter margin requirements, reduced weekly expiries, higher capital thresholds, and increased taxation have made derivatives trading less appealing for retail investors. In addition, the recent increase in Securities Transaction Tax (STT) is likely to discourage speculative trading in futures and options.

Despite these challenges, Dream Sports holds a strong advantage with its base of over 250 million registered users. Therefore, the company can effectively cross-sell DreamStreet and accelerate user adoption in the stock broking segment.

As competition intensifies and regulations evolve, DreamStreet’s success will depend on how effectively it simplifies investing while building trust among first-time and experienced investors alike.

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