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Cult.fit set to file DRHP with SEBI for ₹4,000-Cr IPO

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Cult.fit, the Bengaluru-based fitness and wellness platform backed by Temasek, Zomato, and Accel, is preparing to file its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), according to people familiar with the development.

The company plans to launch an Initial Public Offering (IPO) worth approximately ₹4,000 crore. The proposed public issue will include a combination of a fresh issue of shares and an Offer for Sale (OFS) by existing shareholders.

According to sources, the Offer for Sale expects to contribute nearly ₹3,000 crore, while the fresh issue is likely to be around ₹950 crore. However, the company continues to finalize the structure, valuation, and overall size of the IPO based on prevailing market conditions.

Additionally, Cult.fit is evaluating a pre-IPO fundraising round to strengthen its capital base before the public issue. If the company raises capital through this route, it will adjust the proceeds against the fresh issue portion of the IPO.

Founded in 2016 by Mukesh Bansal and Ankit Nagori as Cure.fit, the company later rebranded itself as Cult.fit and has since emerged as one of India’s leading fitness and wellness platforms.

Over the years, Cult.fit has built a comprehensive health and fitness ecosystem that includes fitness centres, digital fitness subscriptions, sportswear, fitness equipment, and wellness services. Furthermore, the company operates a hybrid online-offline business model, enabling customers to access both physical fitness centres and digital workout experiences.

The company has also expanded its nationwide footprint through its growing network of Cult centres and its subscription-based Cultpass ecosystem, which provides users with flexible access to gyms, group classes, sports facilities, and wellness services.

Meanwhile, investor confidence in the company remains robust. In March, Singapore’s Temasek, through its MacRitchie investment unit, invested ₹440 crore in Cult.fit, increasing its shareholding to nearly 12%. The investment further reinforced investor optimism ahead of the company’s planned stock market debut.

As India’s fitness, wellness, and digital health sectors continue to expand, Cult.fit’s IPO is expected to attract significant attention from institutional and retail investors alike. The proposed listing would also mark another milestone in India’s growing startup ecosystem, which has witnessed increasing public market participation from technology-driven consumer brands.

Cult.fit’s planned ₹4,000 crore IPO represents a significant step in the company’s growth journey as it seeks to strengthen its market position and accelerate expansion. Supported by prominent investors such as Temasek, Zomato, and Accel, the fitness and wellness company enters the public markets with a diversified business model, a strong nationwide presence, and sustained investor confidence. The upcoming SEBI filing will officially initiate one of the most closely watched startup IPOs in India’s health and wellness sector.

Coursera announces job cuts following Udemy acquisition

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Coursera has announced a workforce reduction following its acquisition of Udemy, although the online education platform has not disclosed the number of employees affected. The company said the move forms part of its post-merger integration strategy aimed at optimizing its cost structure and operational model.

Coursera expects to incur restructuring charges ranging between $8 million and $11 million, primarily related to severance payments and employee benefits for affected staff.

The company did not immediately respond to requests seeking details on the number of impacted employees. As of December 31, 2025, Coursera employed 1,307 full-time employees, while Udemy had 1,380 full-time employees.

Furthermore, the layoffs follow Coursera’s completion of its merger with Udemy on May 11, creating a combined edtech company focused on improving operational efficiency, strengthening its business model, and generating long-term cost synergies.

Additionally, Coursera stated that it expects most of the restructuring costs associated with the workforce reduction to be cash expenditures, which the company will recognize during the third and fourth quarters of the financial year.

Meanwhile, the company noted that the timeline for eliminating certain positions could extend beyond 2026 in some countries due to local labor regulations, statutory consultation requirements, and legal obligations governing workforce reductions.

The announcement also reflects a broader trend across the global technology sector, where companies continue to streamline operations and reduce costs amid evolving market conditions. According to Layoffs.fyi, more than 200 technology companies have collectively laid off over 119,400 employees so far this year, highlighting the continued wave of workforce restructuring across the industry.

Moreover, the integration of Coursera and Udemy represents one of the most significant developments in the online education and EdTech sectors. By combining their platforms, the companies aim to strengthen their market position, expand learning offerings, improve operational efficiencies, and deliver enhanced value to learners, businesses, and institutional customers worldwide.

As the post-merger integration progresses, Coursera is expected to continue aligning its workforce, operations, and technology infrastructure to support long-term growth while navigating changing market dynamics in the competitive online learning industry.

Coursera’s decision to reduce its workforce marks another important step in its integration with Udemy. While the company has not disclosed the number of affected employees, it expects to incur up to $11 million in restructuring costs as it streamlines operations and optimizes its business. The move also underscores the broader trend of cost optimization and workforce restructuring across the global technology and EdTech sectors.

AI smart glasses startup Even Realities becomes unicorn after $150 Mn funding round

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Even Realities, a Shenzhen-headquartered wearable technology startup, has raised $150 million in a pre-Series B funding round led by Meituan, with participation from existing investor Tencent. The latest investment values the company at $1 billion, making it one of the newest unicorns in the rapidly growing AI wearables sector.

The funding comes as global technology companies such as Meta and Snap continue to introduce next-generation smart glasses equipped with cameras and artificial intelligence assistants. However, Even Realities has adopted a different strategy by focusing on display-first smart glasses that prioritize privacy while delivering information directly into the user’s field of vision.

Will Wang, Founder & CEO, Even Realities, said the company believes display technology offers a better long-term user experience than camera-focused wearable devices.

Founded in 2023 by former Apple engineers, Even Realities has rapidly emerged as a key player in the smart eyewear industry. Wang previously worked on the Apple Watch and iPhone, while the founding team also includes technology professionals and executives from luxury eyewear brands, including Lindberg.

Furthermore, the startup attracted early backing from several prominent Chinese investors, including Sequoia China, before securing its latest funding round.

The company launched its first product, Even G1, in 2024, which Wang described as the lightest waveguide smart glasses available at the time. Moreover, the product significantly outperformed internal expectations by becoming the first company in its category to sell more than 10,000 pairs, exceeding its original sales target of 10,000 units.

Consequently, Even Realities accelerated both its fundraising efforts and workforce expansion. The company increased its employee count from 30–40 people in 2024 to 300–400 employees today as it scaled product development and global operations.

Meanwhile, Even Realities introduced its flagship Even G2 smart glasses in November last year. Unlike many competing products, the device does not include a camera. Instead, it features a heads-up display integrated into the frame that delivers real-time information directly within the user’s line of sight. Users control the device through the Even R1 companion ring, which supports tap and swipe gestures for navigation.

According to Wang, removing the camera forms a core part of the company’s privacy-first philosophy. He explained that smart glasses represent one of the most personal computing devices consumers will wear because they remain on users’ faces throughout the day. Therefore, the company designed both its hardware and software to protect user privacy while ensuring the device remains socially acceptable.

Additionally, Even Realities developed its voice translation capabilities to convert speech directly into text instead of storing voice recordings. The company also encrypts user data and has built its infrastructure to comply with Europe’s stringent privacy standards, reinforcing its commitment to secure AI-powered wearable technology.

Moreover, the company’s most active users frequently rely on Conversate, its AI copilot, which analyzes conversations in real time, explains unfamiliar terminology, suggests contextual follow-up responses, and generates conversation summaries that automatically synchronize with users’ smartphones.

Despite the growing focus on artificial intelligence, Even Realities continues to prioritize optical engineering as its primary competitive advantage. Wang emphasized that smart glasses require an entirely different technology stack than smartphones or smartwatches because engineers must simultaneously develop the display microchip, optics, and waveguide system to achieve a seamless viewing experience.

As the AI wearables, augmented reality (AR), and smart glasses markets continue to expand, Even Realities aims to differentiate itself by combining advanced optical technology with privacy-focused design. The latest funding will likely support continued product innovation, international expansion, and research into next-generation wearable computing solutions.

Eight Continents Hotels launches Treetop Astoria, Corbett to expand leisure portfolio

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Eight Continents Hotels & Resorts has announced the launch of Treetop by Eight Continents Astoria, Corbett, with the property scheduled to welcome guests from 15 July 2026. The opening marks another milestone in the company’s strategy to expand its presence across India’s growing leisure, wildlife, and nature tourism destinations.

Located in Kotabagh–Kaladhungi, near the Jim Corbett region, the hotel offers a nature-inspired hospitality experience while combining modern amenities with the scenic surroundings of one of India’s most popular wildlife destinations. Consequently, the property aims to attract families, couples, wildlife enthusiasts, and leisure travellers seeking a peaceful retreat.

The hotel features 30 well-appointed guest rooms, an outdoor swimming pool, 8 Café, an all-day dining restaurant serving both local and international cuisine, and a banquet venue designed to host social celebrations, private events, weddings, and corporate gatherings. Additionally, its strategic location provides guests with convenient access to the region’s forests, wildlife attractions, and outdoor adventure experiences.

Richa Adhia, Managing Director, Eight Continents Hotels & Resorts, said that India’s leisure travel market continues to evolve as travellers increasingly seek authentic, immersive, and personalized experiences. She added that the launch of Treetop by Eight Continents Astoria, Corbett, reflects the company’s commitment to expanding into high-potential leisure destinations while developing hotels that embrace the unique culture and character of each location.

Furthermore, the new property strengthens Eight Continents Hotels & Resorts’ growing hospitality portfolio, which continues to expand across destinations known for their rich natural landscapes, cultural heritage, and tourism potential.

Meanwhile, the company continues to pursue its long-term expansion strategy by growing its presence across leisure, heritage, coastal, wellness, and urban destinations throughout India. Through this approach, Eight Continents Hotels aims to deliver destination-led hospitality experiences supported by personalized guest services and high-quality accommodation.

Moreover, the launch comes at a time when India’s hospitality industry continues to benefit from rising domestic tourism, improved travel infrastructure, and increasing demand for experiential stays. As travellers increasingly prioritize nature-based vacations and wellness-focused getaways, hotel operators continue to invest in premium leisure destinations such as Corbett.

By expanding its portfolio in one of India’s leading wildlife tourism hubs, Eight Continents Hotels & Resorts aims to strengthen its position in the country’s fast-growing hospitality market while offering guests memorable experiences that combine comfort, nature, and local culture.

EV logistics startup TOCAL raises ₹9-Cr to expand EV logistics and fulfillment network

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Dhairyasheel Deshmukh, CEO and Founder, TOCAL

Tech-enabled electric vehicle (EV) fleet and fulfillment infrastructure platform TOCAL has raised ₹9 crore in a funding round led by XB Group, the parent company of K-Indev Logistics. The company will use the fresh capital to expand its operations, establish new fulfillment centres, and strengthen its technology-driven logistics network across India.

The funding round included a commitment of ₹8.5 crore from XB Group, while Navyug Global Ventures, a family office, and Nivetha Muralidharan, a high-net-worth individual (HNI) investor, also participated in the investment.

Furthermore, the funding marks the beginning of a strategic partnership between TOCAL and K-Indev Logistics to build an integrated logistics platform that combines EV-powered last-mile delivery, fulfillment infrastructure, and nationwide logistics capabilities.

Founded by Dhairyasheel Deshmukh, TOCAL currently operates in Bengaluru, where it enables sustainable logistics through technology-driven electric vehicle fleet operations and last-mile delivery services for e-commerce, quick commerce, and direct-to-consumer (D2C) brands.

Dhairyasheel Deshmukh, Founder & CEO, TOCAL, said, “Together with K-Indev Logistics, we are creating an integrated platform that combines fulfilment through strategically located micro-warehouses with a tech-enabled EV fleet to support the next phase of India’s commerce growth.”

As part of the collaboration, K-Indev Logistics will contribute its expertise in micro-warehousing, nationwide logistics operations, and enterprise relationships. Meanwhile, TOCAL will strengthen the platform through its EV fleet operations, hyperlocal delivery capabilities, extensive driver network, and proprietary logistics technology.

Additionally, TOCAL will utilize the newly raised capital to expand beyond Bengaluru into major metropolitan cities. The company also plans to establish strategically located fulfillment centres, scale its electric vehicle fleet and operational infrastructure, enhance fleet, warehouse, and order management technologies, and strengthen enterprise sales while building strategic partnerships.

Moreover, TOCAL has outlined ambitious long-term growth plans. Over the next four to five years, the company aims to expand its presence to more than 15 cities, deploy over 20,000 electric vehicles, operate 75 fulfillment centres, and partner with more than 1,000 brands across India.

The latest funding comes at a time when India’s e-commerce, quick commerce, and supply chain sectors continue to witness rapid growth, driving increasing demand for sustainable and technology-enabled logistics solutions. Consequently, businesses are investing heavily in electric mobility, micro-warehousing, and digital fulfillment infrastructure to improve delivery speed, reduce operational costs, and lower carbon emissions.

Furthermore, the strategic alliance with K-Indev Logistics positions TOCAL to offer integrated logistics solutions by combining fulfillment, warehousing, transportation, and last-mile delivery under a unified platform. This integrated approach is expected to help brands optimize supply chains while meeting the growing demand for faster and greener deliveries.

AscentHR acquires Malaysia’s OS HRS to strengthen APAC payroll business

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Subramanyam S., Founder & CEO, AscentHR

AscentHR, a leading HR technology and payroll solutions company, has acquired OS HRS, a Malaysia-based payroll outsourcing provider focused on the Asia-Pacific (APAC) region. Through the acquisition, AscentHR aims to strengthen its regional footprint, enhance payroll delivery capabilities, and nearly double its revenue while expanding its customer base across key APAC markets.

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 Mor Stays strengthens spiritual tourism portfolio with Mathura Hotel signing

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Indeva Hotels & Resorts has expanded its presence in Uttar Pradesh by signing Hotel Sheetal Regency in Mathura under its midscale hospitality brand, The Mor Stays. Following the agreement, the property will operate as Hotel Sheetal Regency – The Mor Stays – Krishna Janmabhoomi, Mathura, further strengthening the company’s presence in India’s fast-growing spiritual tourism market.

Located near the Shri Krishna Janmabhoomi Temple, the hotel offers convenient access to Mathura’s major religious, cultural, and tourist attractions. Consequently, the property will cater to a wide range of guests, including pilgrims, leisure travellers, families, destination wedding groups, tour operators, and corporate visitors.

Hotel Sheetal Regency has welcomed guests for more than 25 years and ranks among Mathura’s earliest classified hotels. Under the partnership, Indeva Hotels & Resorts will implement a phased brand integration process by introducing The Mor Stays’ service standards, operating systems, and guest experience initiatives. At the same time, the company will preserve the property’s long-standing legacy and renowned hospitality.

Barun Gupta, Chief Operating Officer, Indeva Hotels & Resorts, said, “Hotel Sheetal Regency is already a renowned hospitality landmark in Mathura and one of the city’s first classified hotels, with a legacy of serving premium guests for over 25 years. The signing of this property marks another important milestone in strengthening our presence across India’s high-potential spiritual tourism destinations. Mathura welcomes millions of devotees and travellers every year, and we are excited to introduce The Mor Stays experience to this iconic city. Our vision is to offer guests comfortable, value-driven stays backed by exceptional service, operational excellence, and authentic local experiences. India’s spiritual tourism sector continues to witness unprecedented growth, driven by increasing domestic travel, infrastructure development, and rising demand for professionally managed hospitality offerings. With this addition, The Mor Stays is well positioned to cater to the growing influx of visitors to Mathura while contributing to the city’s tourism ecosystem and local economic development.”

Furthermore, the partnership aligns with Indeva Hotels & Resorts’ strategy of expanding its hospitality portfolio across high-potential pilgrimage and leisure destinations. The company aims to capitalize on the rapid growth of India’s spiritual tourism sector, which continues to benefit from improved infrastructure, enhanced connectivity, and rising domestic travel.

Amit Jain, Chairman, Hotel Sheetal Regency, said, “We are delighted to partner with The Mor Stays, the hospitality brand of Indeva Hotels & Resorts. This collaboration marks the beginning of an exciting new chapter for Hotel Sheetal Regency. By combining our legacy of warm hospitality with Indeva’s proven operational expertise and strong brand standards, we are confident of delivering an elevated guest experience while further strengthening our position as one of the preferred hospitality destinations near Shri Krishna Janmabhoomi. We look forward to welcoming guests with enhanced services, modern amenities, and the same heartfelt hospitality that has always been our hallmark.”

Meanwhile, Indeva Hotels continues to expand through strategic management agreements and asset partnerships that strengthen its presence across business, leisure, and religious tourism markets.

Vineet Gopal, Head – Corporate Relations & Asset Management, Indeva Hotels & Resorts, said, “The addition of Hotel Sheetal Regency to The Mor Stays portfolio reflects our continued commitment to expanding through strategic management partnerships and asset collaborations. We remain focused on building a portfolio of quality hotels that deliver consistent service standards, operational excellence, and memorable guest experiences across business, leisure, and religious tourism markets. This signing further strengthens our presence in one of India’s most important pilgrimage destinations and reinforces our long-term growth strategy.”

The signing of Hotel Sheetal Regency – The Mor Stays – Krishna Janmabhoomi, Mathura, marks another significant milestone in Indeva Hotels & Resorts’ expansion strategy. By combining the hotel’s 25-year legacy with The Mor Stays’ operational expertise and service standards, the company aims to deliver an enhanced guest experience while capitalizing on the growing demand for quality accommodation in India’s thriving spiritual tourism sector.

Sobha Ltd reports record quarterly sales of ₹3,656-Cr, driven by strong housing demand

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Real estate developer Sobha Ltd reported a 76% year-on-year increase in sales bookings to ₹3,656.1 crore during the first quarter of the current financial year, supported by robust demand for its residential projects across key markets.

The company had recorded ₹2,078.8 crore in sales bookings during the corresponding quarter of the previous financial year.

According to its latest operational update, the Bengaluru-based developer achieved its highest-ever quarterly sales bookings of ₹3,656 crore during the April-June quarter, reflecting sustained momentum in India’s residential real estate market.

During the quarter, Sobha sold 1,432 homes and plots, covering a total saleable area of 2.34 million square feet. Moreover, strong customer demand for newly launched residential projects in Bengaluru and Gurugram significantly contributed to the company’s record performance.

Furthermore, Sobha delivered robust growth across all key operating metrics compared with the first quarter of FY26. The company increased its sales value by 76%, sales area by 62%, and the number of homes and plots sold by 78%, demonstrating continued buyer confidence in its premium residential offerings.

Bengaluru remained the company’s largest market during the quarter. The city generated ₹2,067 crore in sales bookings, contributing 56.5% of the company’s total quarterly sales value.

Meanwhile, the Delhi-NCR region recorded sales bookings of ₹1,384 crore, accounting for 37.9% of the company’s overall sales. Strong demand for newly launched projects in Gurugram played a key role in driving the region’s impressive performance.

Additionally, Sobha expanded its development pipeline by launching 6.89 million square feet of saleable area across three residential projects in Bengaluru and Gurugram during the June quarter.

The company also maintained healthy execution momentum by completing 671 homes across eight projects, representing a total saleable area of 1.08 million square feet. Consequently, Sobha continued to strengthen its reputation for timely project delivery while meeting growing customer demand.

As one of India’s leading listed real estate developers, Sobha continues to benefit from strong demand for premium residential properties in major metropolitan markets. The company had reported property sales worth ₹8,135.9 crore during the 2025-26 financial year, highlighting its consistent performance in the residential real estate sector.

Moreover, the latest quarterly results reinforce the positive outlook for India’s housing market, particularly in premium residential segments where established developers continue to attract strong buyer interest. Sobha’s ongoing project launches, robust execution capabilities, and expanding portfolio position the company for sustained growth in the coming quarters.

Sobha’s record ₹3,656 crore quarterly sales bookings demonstrate the continued strength of India’s residential real estate market. Driven by strong demand in Bengaluru and Delhi-NCR, along with successful new project launches and timely project execution, the company has reinforced its position as one of the country’s leading real estate developers. As housing demand remains resilient, Sobha appears well-positioned to maintain its growth momentum throughout the financial year.

Protean eGov Technologies partners with NECTAR to accelerate digital governance in Northeast India

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Protean eGov Technologies Limited, a pioneer in building Digital Public Infrastructure (DPI) and citizen-centric digital solutions, has signed a Memorandum of Understanding (MoU) with the North East Centre for Technology Application and Reach (NECTAR), an autonomous institution under the Department of Science & Technology, Government of India. Through this strategic partnership, the two organizations will collaborate to advance technology-led governance, digital innovation, and inclusive development initiatives across India, with a special focus on the North Eastern Region.

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.

CuberaTech India partners with Grant Thornton Bharat to accelerate AI AdTech growth

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Dr. Samartha Nagabhushanam & Daniel Bland, Co-founders & Co-chairmen – Eleos Social Inc. | CuberaTech India Private Limited

CuberaTech India Private Limited (Cubera), the India operations of Eleos Social Inc., a US-headquartered global technology company with operations across the United States, India, and Europe, has announced a landmark strategic partnership with Grant Thornton Bharat (GTBharat). The collaboration will provide Cubera with management consulting and technology advisory services to accelerate its global expansion and strengthen its position in the rapidly evolving AI-powered advertising technology (AdTech) industry.

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.

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