EV charging startup Kazam posts Rs 40-Cr in FY25, sets sights on Rs 100-Cr

By

-

January 2, 2026

EV charging startup Kazam posts Rs 40-Cr in FY25, sets sights on Rs 100-Cr — L-R: Paras Shah, Vaibhav Tyagi, Akshay Shekhar, co-founders, Kazam

IFC-backed electric mobility infrastructure startup Kazam recorded Rs 40 crore in revenue in FY25, which ended in March 2025. At the same time, the company remains on track to reach Rs 100 crore in annual revenue and expects to turn profitable by early 2026, supported by higher charger utilisation across markets, according to chief operating officer Akshay Shekhar.

Based in Bengaluru, Kazam operates an EV charging and energy management platform that provides both software and hardware solutions. Through this platform, the company supports electric vehicle charging and battery swapping operators across two-wheelers, three-wheelers, and four-wheelers.

Currently, the platform manages more than 9,000 MWh of energy transactions every month. Notably, this figure marks an increase of nearly 60% compared to June 2025, as stated by the company.

According to Claight Corporation’s expert market research, India’s EV charging market reached a volume of approximately 1.56 million units in 2025. Furthermore, the market is expected to grow at a compound annual growth rate of 22.2% between 2026 and 2035, ultimately reaching 11.58 million units by 2035.

For Kazam, tier 2 and tier 3 cities generate the largest share of revenue, particularly within the three-wheeler segment. “Cities such as Siliguri, Bareilly, Lucknow, and Agra are among our top markets. Each of these cities has around 2,000 to 3,000 charging points running on our platform,” Shekhar said.

In addition, Shekhar highlighted home charging for three-wheelers as the company’s biggest revenue driver. Currently, nearly 150,000 three-wheeler drivers use Kazam’s charging infrastructure.

Meanwhile, quick commerce and fleet charging continue to emerge as fast-growing categories for the company. As a result, companies such as BigBasket, Zepto, and Swiggy use charging points at dark stores to power vehicles between delivery trips.

Another strong growth segment for Kazam is public charging, Shekhar noted. In this segment, oil marketing companies and other operators set up large charging stations along highways, primarily catering to four-wheelers and electric buses.

Kazam raised $6.2 million in funding from the International Finance Corporation, the private sector investment arm of the World Bank Group, in June last year. Consequently, the funding round took the company’s total capital raised to $19.2 million. Other investors backing Kazam include Vertex Ventures Southeast Asia & India, Avaana Capital Advisors, Inflection Point Ventures, and Alteria Capital.

Shekhar emphasised that EV charging businesses currently generate Rs 150–200 crore in revenue despite single-digit market penetration, signalling significant headroom for growth. “Over the next two to three years, we will see Rs 1,000 crore revenue businesses emerge in India purely from EV infrastructure. This is something the industry should watch closely,” he said.

Royal Orchid & Regenta Hotels strengthen Rajasthan presence with Jodhpur signing

By

BRL Editor

-

January 2, 2026

0

Royal Orchid & Regenta Hotels Ltd. (ROHL) has announced the signing of a new leisure property in Jodhpur, Rajasthan. Through this move, the company will operate the upcoming Regenta Hotel, Jodhpur, under a hotel management agreement. As a result, ROHL continues to reinforce its asset-light expansion strategy while strengthening its presence in culturally significant leisure destinations across India.

The upcoming 200-key all-suite property is located near the Jodhpur High Court at Shatabdi Circle on New Pali Road. Consequently, the hotel offers seamless access to the city’s key commercial districts and heritage attractions. Spread across 3,623 sq. m., the development positions the hotel as a leisure-focused destination that caters to travelers seeking enhanced comfort, longer stays, and immersive experiences in the Blue City.

Furthermore, Regenta Hotel, Jodhpur, will feature expansive conference and banquet facilities, a lobby bar, an all-day dining restaurant, and a rooftop pool bar. Therefore, the property positions itself as a preferred venue for leisure stays, destination weddings, celebrations, and premium social and corporate events.

The company is developing the property in partnership with Jodhana Real Home Private Limited & Shreeyukt. In addition, the hotel will offer spacious suite accommodations, curated dining experiences, comprehensive banqueting and event spaces, and wellness-oriented amenities. As a result, the property will remain well suited for leisure travelers, weddings, destination events, and high-end social gatherings.

Commenting on the signing, Chander K. Baljee, Chairman & Managing Director, Royal Orchid & Regenta Hotels Ltd., said, “Jodhpur continues to be a key market for us, driven by strong tourism demand and an evolving hospitality landscape. The signing of Regenta Hotel, Jodhpur, aligns seamlessly with our vision of expanding high-quality leisure offerings in heritage cities through an asset-light model. We are confident this property will further strengthen our portfolio in Rajasthan and deliver a distinctive hospitality experience.”

Speaking on the association, Suresh Bharti, Owner, Jodhana Real Home Private Limited, said, “We are delighted to partner with Royal Orchid & Regenta Hotels for the Regenta Hotel project. Their proven operational expertise and strong brand credentials make them the ideal partner to introduce a premium all-suite leisure hotel in Jodhpur. Together, we aim to create a destination that blends comfort, elegance, and world-class service.”

The signing of Regenta Hotel, Jodhpur underscores Royal Orchid & Regenta Hotels Ltd.’s continued focus on asset-light growth and strategic expansion in heritage and leisure destinations. Through this partnership, the company strengthens its footprint in Rajasthan while enhancing its portfolio with a premium all-suite offering that caters to evolving traveller preferences. Consequently, the development positions ROHL to capitalise on Jodhpur’s growing tourism demand while delivering a distinctive, experience-led hospitality proposition.

Knight FinTech raises $23.6 Mn in Series A funding to scale AI-led lending

By

BRL Editor

-

January 2, 2026

0

Knight FinTech raises $23.6 Mn in Series A funding to scale AI-led lending — Kushal Rastogi, co-founder, Knight FinTech

Knight FinTech, an Indian banking and digital lending infrastructure provider, has raised $23.6 million in a Series A funding round led by Accel. Additionally, IIFL and Rocket Capital participated in the round, while existing investors Prime Venture Partners, 3one4 Capital, Commerce VC, and Trifecta Capital also backed the company. Notably, the company completed the fundraise through multiple tranches.

Based in Mumbai, Knight FinTech provides technology platforms that enable co-lending, digital lending, embedded finance, and treasury management for banks and non-bank lenders. Currently, the company works with more than 150 partners across 85 lenders. Moreover, it has facilitated over $7 billion in cumulative loan disbursements and manages more than $5 billion in assets under management. Meanwhile, its treasury platform manages assets worth over $125 billion.

With the fresh capital, Knight FinTech plans to expand its AI-driven product offerings. Specifically, the company will strengthen capabilities across risk intelligence, automated credit underwriting, fraud detection, portfolio monitoring, and debt recovery systems. At the same time, the firm intends to expand into the Middle East and Asia-Pacific markets.

As part of this international push, Knight FinTech has appointed former Infosys Finacle global chief executive officer Sanat Rao as an investor and board adviser. Through this appointment, the company aims to benefit from deep global banking and technology expertise.

Kushal Rastogi and Parthesh Shah founded Knight FinTech. Previously, Rastogi built AI-driven trading systems, while Shah worked in financial services roles at Bloomberg Singapore and Deloitte.

“We chose to keep innovation and client obsession at the centrepiece, while building business with strong unit economics, market resilience, reliable systems, and long-term valued partnerships,” Kushal Rastogi said in a statement. “Knight FinTech is a multi-engine platform. Co-lending and treasury are already operating at a meaningful scale, while embedded finance and digital lending are accelerating rapidly.”

Knight FinTech generates revenue through software licensing, implementation fees, and recurring charges linked to assets under management. Currently, the company employs more than 350 people.

Property tech startup Fracspace bets ₹120-Cr on Sri Lanka project “Altaira”

By

BRL Editor

-

December 30, 2025

0

Property tech startup Fracspace bets ₹120-Cr on Sri Lanka project “Altaira” — Unnath Reddy, Founder, Fracspace

Hyderabad-based proptech startup Fracspace is gearing up to launch its “Altaira” project in Sri Lanka, with a planned investment commitment of ₹120 crore.

The Hyderabad-based real estate participation and hospitality startup Fracspace currently operates across Hyderabad, Munnar, Goa, Varanasi, Kabini, and Bengaluru (launching soon) in India, while also maintaining an international footprint in Bali (Indonesia), Bangkok (Thailand), Miami (USA), and Colombo (Sri Lanka).

“Through this growing network, we have served over 2,500 customers, positioning ourselves at the intersection of real estate, hospitality, and managed experiences,” said the founder of Fracspace. Building on this operational base, the company is now gearing up for the soft launch of Altaira—Above the Clouds, which it positions as its most ambitious and strategically important project so far.

Set atop a hilltop location in Sri Lanka, Altaira takes shape as a destination-led ecosystem that brings together premium residences, hospitality assets, and lifestyle-oriented spaces under a single, professionally managed vision. Importantly, Altaira moves beyond conventional real estate concepts and does not focus merely on square footage.

“It solves things people rarely admit. The exhaustion of always being ‘on.’ The fear of growing older in places that don’t respect ageing. The guilt of not being present with family. The craving for silence without isolation,” added founder of Fracspace, Unnath Reddy. Altaira feels appealing because it does not compete with everyday life; instead, it actively supports it.

Altaira does not target individuals chasing a better life. Rather, it speaks to those who have already built one and are quietly questioning why it still feels overwhelming. In the same vein, Altaira does not attempt to change people; instead, it offers the space for individuals to finally feel like themselves again.

Unlike traditional real estate developments that depend largely on one-time sales, Altaira operates as a long-term value platform. Consequently, the project aims to generate sustained income through hospitality operations, curated experiences, and continuous asset management.

Moreover, the development reflects Fracspace’s broader philosophy of building real estate as an operating ecosystem rather than a static asset. The project will feature amenities such as an infinity pool, a 24/7 world-cuisine restaurant, a comprehensive spa and wellness centre, cloudpaths, waterfalls and streams, a helipad, 270-degree panoramic views of hills and valleys, natural pools and plunge pools, and a dedicated sundowner deck. Commenting on the scale of the project, the founder of Fracspace said, “With Altaira, we are projecting investment inflows of approximately ₹120 crore, marking a major step in the startup’s global expansion strategy.”

Looking ahead, the development is expected to contribute meaningfully to future revenues through a blend of participation-led investments, hospitality-driven cash flows, and long-term management income as the destination matures. Meanwhile, the Altaira Soft Launch, scheduled for 14 February 2026, is being positioned as a curated, invite-only unveiling for early participants, global investors, and long-term stakeholders. Registrations are currently open, with the company shortlisting profiles to ensure alignment with the project’s long-term vision and scale.

For the Hyderabad-based startup Fracspace, Altaira represents far more than an entry into a new geography. Instead, it marks a clear transition into large-format, cross-border destination development, supported by a proven operating track record, an expanding investor base, and a well-defined growth roadmap.

Altaira is shaping up as a defining milestone—not only in Fracspace’s global journey but also in the way Indian-born real estate platforms are establishing their presence on the international stage.

Snacking startup Let’s Try targets Rs 1,000-Cr revenue by FY28

By

BRL Editor

-

December 30, 2025

0

Snacking startup Let’s Try targets Rs 1,000-Cr revenue by FY28 — Nitin Kalra, Founder, Let's Try

Homegrown snacking brand Let’s Try is targeting Rs 1,000 crore in revenue next year, up from an estimated Rs 230 crore in the current fiscal year, as the company intensifies its manufacturing expansion and pushes deeper market penetration, founder Nitin Kalra said.

At the same time, the four-year-old startup is preparing for an IPO and plans to transition into a public limited company by 2028.

Commenting on the company’s financial trajectory, Kalra said, “Last year we clocked Rs 65 crore, and this year we are planning to clock around Rs 230 crore in revenue as the brand has been growing exponentially,” adding, “Next year we aim to be around Rs 1,000 crore while planning an IPO or pre-IPO things.”

Importantly, this target implies nearly fourfold growth within a single year, positioning Let’s Try among the most aggressive expansion stories in India’s snacking industry.

To support this growth, the Delhi-based company plans to invest Rs 100 crore over the next year to establish four new manufacturing units across the country, building on its existing capital expenditure of Rs 15–20 crore. Specifically, the expansion roadmap includes a facility in Bangalore by March, another unit between Mumbai and Pune, and a western India plant focused on exports by the end of the year.

Explaining the strategy, Kalra said, “The whole idea is how we can give products as fresh as possible to the consumers.” Currently, the company handles all manufacturing in-house at its Delhi facility. Moreover, Kalra noted that this model enables strict quality control, allowing Let’s Try to claim 100 percent use of premium ingredients such as groundnut oil instead of palm oil.

Meanwhile, Let’s Try currently generates around 80 percent of its revenue from online channels and 20 percent from offline sales. However, the company plans to rebalance this mix to 60:40 by strengthening its presence in general trade, modern trade, railways, and airlines.

Emphasizing wider accessibility, Kalra said, “The better product should not just be in the hands of those who can use a phone and who can do shopping on a phone. It should be available in case someone is going out to some Paanwala shop.”

In addition, the company has launched its first cloud kitchen offering Indian snacks prepared with groundnut oil and ghee. Going forward, Let’s Try plans to open more branded outlets next year as part of its offline expansion strategy.

With ambitious revenue goals, significant manufacturing investments, and a clear roadmap toward an IPO, Let’s Try is positioning itself to scale rapidly while maintaining product quality and expanding its reach across both digital and physical retail channels.

Kraken surges to $8.65 Bn valuation, boosting Origin Energy’s portfolio

By

BRL Editor

-

December 30, 2025

0

Kraken surges to $8.65 Bn valuation, boosting Origin Energy’s portfolio — Frank Calabria, CEO, Origin Energy

Origin Energy Ltd. said that Kraken Technologies Ltd., a software platform that enables utilities to manage the shift toward cleaner energy, has achieved a valuation of $8.65 billion following its first standalone capital raise.

Notably, the software platform has played a central role in Octopus Energy Group Ltd.’s rise to become the UK’s largest electricity supplier, as the company surpassed traditional incumbents and expanded its customer base to more than 7 million households. Meanwhile, Sydney-listed Origin Energy holds roughly a 20% stake in Octopus Energy.

According to a statement released on Tuesday, Kraken will raise $1 billion in equity through its first independent share sale involving both new and existing investors. As a result, the transaction will set the stage for a formal separation of the company from Octopus, which the company has targeted for the middle of next year.

“Origin has always held a deep conviction in the potential of Kraken, and we have been able to maintain our highly valuable equity stake in Kraken while supporting the continued expansion of Octopus Energy,” Origin Chief Executive Officer Frank Calabria said in the statement. Additionally, Origin confirmed that D1 Capital Partners will join as a new investor, alongside a “leading energy retailer” with more than 10 million customers that will also adopt Kraken as a client. Furthermore, Origin said it will invest $140 million as part of the overall process.

Earlier, in September, Octopus announced its plans to spin off the software platform. Since then, energy providers have licensed Kraken’s software to help balance electricity flows to households, particularly as energy-transition technologies such as electric vehicles, home batteries, solar panels, and heat pumps become more widespread.

At the same time, Origin agreed to waive its exclusivity to the software platform in Australia in exchange for an additional 1.5% equity stake, thereby offsetting dilution from the share sale. Consequently, following the equity raise and the separation of the software platform from Octopus, Origin will hold a direct ownership interest of 22.7% in Kraken as well as a 22.7% stake in Octopus.

Overall, suppliers that deploy Kraken’s software can offer more competitive pricing and targeted incentives to customers, encouraging flexible energy usage. These capabilities help utilities manage the volatility in power flows associated with a grid increasingly dominated by renewable energy sources, reinforcing Kraken’s strategic value in the global energy transition.

Lemon Tree Hotels expands portfolio with new hotel signing in Tirupati

By

BRL Editor

-

December 30, 2025

0

Lemon Tree Hotels Limited has announced that it has executed a Hotel Operation Agreement for a forthcoming property in Tirupati, Andhra Pradesh. Notably, the company signed the agreement through Carnation Hotels Private Limited, its wholly owned subsidiary.

Under this arrangement, Carnation Hotels Private Limited will operate the hotel under the Lemon Tree Suites brand, subject to Lemon Tree Hotels Limited executing a separate licence agreement.

The upcoming property, will brand itself as Lemon Tree Suites, Tirupati and will feature 228 rooms and suites. Additionally, the hotel will offer a restaurant, a banquet hall, and a meeting room, along with recreational facilities such as a swimming pool and a spa. Strategically, the property sits approximately 10 km from Tirupati International Airport and about 6.3 km from Tirupati Railway Station, while remaining well connected via both public and private transport networks.

Commenting on the signing, Vilas Pawar, Chief Executive Officer – Managed and Franchise Business at Lemon Tree Hotels, said, “With this signing, we are pleased to extend our pilgrimage portfolio in a place that holds deep spiritual resonance. Moreover, the vibrant tourism, rich cuisine, and growing hotel infrastructure make Andhra Pradesh a magnet for tourism travellers seeking unforgettable experiences. The state has six operational and three upcoming hotels.”

Overall, the signing reinforces Lemon Tree Hotels’ strategy of expanding its managed and franchise portfolio in high-demand destinations. Consequently, the Tirupati project strengthens the group’s presence in pilgrimage and leisure-led markets while also supporting its broader growth ambitions across Andhra Pradesh.

Meta acquires AI startup Manus to unlock near-term AI returns

By

BRL Editor

-

December 30, 2025

0

Meta Platforms Inc. has agreed to acquire Manus, a Singapore-based artificial intelligence startup that builds AI agents for small and mid-sized enterprises, thereby marking a major step in Meta’s strategy to convert its extensive AI investments into near-term business returns.

This transaction comes as Chief Executive Officer Mark Zuckerberg increasingly places artificial intelligence at the core of Meta’s corporate agenda, while the company accelerates efforts to develop commercially viable products on top of its expanding AI infrastructure. Although the companies did not disclose the financial terms, Manus contributes a rapidly growing subscription-led business that, in turn, offers Meta immediate monetisation potential.

Earlier this year, Manus reported an annual revenue run rate of approximately $125 million, largely driven by strong demand from businesses that rely on its AI agent to automate routine tasks. Specifically, the platform enables users to provide simple instructions to an AI assistant that can screen resumes, create travel itineraries, and conduct stock analysis, among other functions.

“Joining Meta allows us to build on a stronger, more sustainable foundation without changing how Manus works or how decisions are made,” said Xiao Hong, CEO of Manus.

Moreover, the company raised capital earlier this year at a valuation close to $500 million, with backing from multiple investors, including US-based venture capital firm Benchmark.

Overall, the acquisition underscores Meta’s broader push to move beyond consumer-facing AI features and into enterprise-focused tools, as the company seeks to justify its substantial spending on data centres, chips, and large language models. By integrating Manus’ subscription-driven AI offerings, Meta secures an established revenue stream and gains a strategic foothold in the rapidly expanding market for AI agents designed for everyday business applications.

Sustainable footwear startup Neeman’s raises Rs 35.5-Cr in Series B2 funding to boost operations and growth

By

BRL Editor

-

December 29, 2025

0

Sustainable footwear startup Neeman’s raises Rs 35.5-Cr in Series B2 funding to boost operations and growth — Amar Preet Singh & Taranjeet Singh Chhabra, co-founders, Neeman’s

Sustainable footwear brand Neeman’s has raised fresh capital from a mix of new and existing investors in what appears to be an extension of its Series B funding round that originally commenced in June 2022.

As part of this round, the company’s board approved the issuance of 54,915 Series B2 compulsorily convertible preference shares (CCPS) at a price of Rs 6,465 per share, enabling Neeman’s to raise Rs 35.50 crore. In addition, the company allotted 5,414 partly paid-up equity shares at the same price to co-founders Taranjeet Singh Chhabra and Amar Preet Singh, with both founders making equal investments.

Moreover, the Series B2 tranche attracted participation from several investors. Snam Solutions, backed by Muralidhar Dhuddu, led the round with an investment of Rs 16 crore. This was followed by Grand Anicut, which contributed Rs 7 crore, and Sharrp Ventures, which invested Rs 5 crore. Other institutional and individual investors collectively infused an additional Rs 7.5 crore.

As a result, the latest fundraising will value Neeman’s at approximately Rs 439 crore ($49 million) on a post-money basis. The company plans to deploy the newly raised capital toward strengthening its working capital position and supporting ongoing operational requirements.

Founded in 2017 and headquartered in Hyderabad, Neeman’s has built a reputation for eco-conscious footwear made using sustainable materials. The brand primarily operates on a direct-to-consumer model and, over time, has established a strong digital presence while steadily expanding its offline retail footprint.

To date, Neeman’s has raised more than $17 million in funding. Following the latest round, Grand Anicut now holds an 8.63 percent stake in the company, while Enam Investments, Snam Solutions, and Sharrp Ventures own 4.76 percent, 3.64 percent, and 3.51 percent stakes, respectively.

Meanwhile, for FY24, Neeman’s reported an 11.4 percent year-on-year increase in revenue, reaching Rs 76.94 crore compared to Rs 69.05 crore in FY23. Additionally, the company reduced its net loss by 14 percent to Rs 29.23 crore from Rs 33.98 crore in the previous year. However, Neeman’s has not yet disclosed its financial performance for FY25.

Viceroy Hotels expands portfolio with Marriott Executive Apartments, Hyderabad acquisition for INR 206-Cr

By

BRL Editor

-

December 29, 2025

0

Viceroy Hotels Limited, a Hyderabad-based hospitality company, is preparing to acquire SLN Terminus Hotels & Resorts Pvt. Ltd., the owner of Marriott Executive Apartments, Hyderabad, for a total consideration of INR 206 crore. The Marriott-branded property operates at SLN Terminus in Gachibowli, one of Hyderabad’s key business and IT hubs.

In a filing with the Bombay Stock Exchange, the company stated that shareholders of Viceroy Hotels Limited approved the acquisition at an Extraordinary General Meeting held on December 27. Moreover, according to company information, a senior executive involved in the discussions indicated that the transaction supports Viceroy Hotels’ long-term strategy focused on asset consolidation, expansion of its premium portfolio, and sustained growth across major urban markets.

Viceroy Hotels has outlined plans to scale its portfolio to 1,000 keys by 2030. This growth will build on its existing base of approximately 470 keys, along with the addition of nearly 200 keys through an upcoming greenfield project in Hyderabad.

Furthermore, the proposed transaction adopts a comprehensive integration structure and, accordingly, includes the purchase of land, the settlement of inter-corporate loans, and the acquisition of equity shares. Of the total consideration of INR 206 crore, approximately INR 105.66 crore is allocated to land acquisition, while INR 40.67 crore is designated for settling inter-corporate loans and INR 59.67 crore for the purchase of equity shares. Consequently, subject to the completion of due diligence and receipt of regulatory approvals, SLN Terminus Hotels & Resorts Pvt. Ltd. will become a wholly owned subsidiary of Viceroy Hotels Limited.

Meanwhile, the evaluation of this acquisition coincides with a strong recovery in the Indian hospitality sector during 2024–25. The industry has recorded revenue growth of approximately 7–9 percent, supported by rising occupancies in premium hotels despite ongoing supply constraints.

Looking ahead, India’s tourism and hospitality market projects to reach nearly US$60 billion by 2028. Additionally, domestic travel will double by 2030, growing at an estimated compound annual rate of 13 percent, as rising incomes, improved connectivity, and sustained investment continue to drive the sector.

CONNECT WITH US