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EV financing startup Ohm Mobility shuts down operations amid market challenges

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EV financing and leasing startup Ohm Mobility has announced that it is shutting down operations after five years of attempting to establish a scalable business model.

The closure was confirmed by co-founder and CEO Nikhil Nair in a LinkedIn post, where he noted that although the company explored multiple business models, it struggled to maintain sustainable growth.

Launched in 2020 by Nikhil Nair, Ohm Mobility set out to bridge the gap between EV fleet operators, manufacturers, battery providers, and financial institutions by facilitating access to capital. The company leveraged IoT data from electric vehicles to assess risk and improve financing solutions.

In 2022, Nikhil Saigal, a former executive at IT firm Onfido, joined as co-founder and Chief Business Officer. Ohm Mobility had secured around ₹5 crore in funding from investors including Antler India, Blume Ventures, Catalyst Fund, and several angel backers.

Earlier this year, the startup rebranded as Ohm Daily in an effort to pivot toward offering financial products tailored to gig workers and mobility professionals such as auto-rickshaw drivers. However, despite these strategic changes, the company was unable to gain the necessary traction.

Ohm Mobility’s closure adds to a growing list of startup shutdowns in India’s tech ecosystem, joining names like Altigreen, Blip, ANS Commerce, O’Be Cocktails, and subtl.ai.

Cygnett Hotels expands in Northeast India with new Cygnett Inn in Dibrugarh

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Cygnett Hotels & Resorts has unveiled its latest property, Cygnett Inn Dibrugarh, located in the heart of Assam. Conveniently situated, the hotel is just 15 minutes from the Dibrugarh railway station and 25 minutes from the airport.

Cygnett Inn Dibrugarh offers guests a seamless and well-rounded blend of comfort, value, and convenience. With this launch, the property effectively sets a new benchmark for affordable luxury by thoughtfully combining contemporary design, modern amenities, and the brand’s signature hospitality—all while maintaining budget-friendly pricing.

The property boasts 50 elegantly designed rooms across three distinct categories, each offering modern amenities and stylish interiors to ensure a peaceful and comfortable stay.

Cygnett Inn Dibrugarh offers more than just accommodation—it delivers a well-rounded hospitality experience. Guests can enjoy a diverse culinary offering at C Pavilion, the in-house restaurant that seats up to 70 guests and serves an appealing mix of local and international cuisine. For a more laid-back setting, Metro Bar provides a cosy and sophisticated ambiance with seating for 38, ideal for relaxing over a curated selection of beverages.

Catering to business travellers as well, the hotel features a fully equipped meeting room and conference room for seamless corporate events. The Discussion room accommodates up to 50 guests and is tailored for effective group meetings, while the elegant Summit banquet hall can host up to 250 guests, making it an ideal venue for conferences, seminars, product launches, social celebrations, and more.

“Cygnett Inn Dibrugarh is the ideal venue, be it for corporate meetings or social events like weddings. Northeast expansion is integral to our strategy to establish Cygnett Hotels & Resorts as a 100-plus strong hotel group in the coming years,” said Sarbendra Sarkar, founder & managing director, Cygnett Hotels & Resorts.

With the launch of Cygnett Inn Dibrugarh, Cygnett Hotels & Resorts further strengthens its position as one of the pioneering branded hospitality chains in Northeast India. At present, the group operates five hotels across the region, and moving forward, with nine additional properties in various stages of development and pre-opening, it is steadily progressing toward its ambitious goal of establishing a 2,000-key footprint in the Northeast by 2029.

“Northeast India has become an important part of our expansion strategy due to its rising tourism appeal, improving connectivity and growing demand for quality accommodations in the region. The Indian government has created a conducive environment for businesses to invest in Northeast India, and we are already seeing a strong corporate travel demand besides a robust growth from leisure and wedding segments,” added Sarkar.

Dibrugarh, known for its historic tea gardens dating back to the British era, is also home to popular tourist attractions such as the Jagannath Temple, Raidongia Doul, and Moiramora Than. In this culturally rich setting, Cygnett Inn Dibrugarh stands out with its core value propositions—quality accommodation, value for money, safety, consistent service, delicious food, and a strong commitment to sustainable practices.

In a major strategic move, Cygnett Hotels & Resorts has entered into an alliance with Wyndham Hotels & Resorts to bring La Quinta® by Wyndham and Registry Collection Hotels® to India. Through this partnership, all Cygnett brands are now seamlessly integrated into Wyndham’s global distribution ecosystem. This includes access to its robust reservation network and the widely recognized Wyndham Rewards program, which currently boasts over 115 million members worldwide.

Through this collaboration, Wyndham aims to leverage Cygnett’s strong regional presence and brand credibility to drive the expansion of its premium offerings across India, Bangladesh, Sri Lanka, and Nepal, with plans to open more than 60 hotels across South Asia over the next decade.

ALDO India eyes growth in tier 2 & 3 markets with AI-led retail

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Premium footwear and accessories brand ALDO, a subsidiary of the Apparel Group, is intensifying its efforts to expand in tier 2 and 3 cities in India. The company is harnessing AI-driven insights and placing greater emphasis on athleisure to better align with shifting consumer trends, according to a company representative.

“While tier 1 cities remain core to our business, the next wave of expansion will largely come from tier 2 and tier 3 cities,” Arpit Kumar, assistant vice president at ALDO India said.

ALDO currently runs 73 stores across India, including ALDO Accessories outlets, and aims to substantially expand its offline footprint in the coming years.

Addressing the brand’s approach to online and offline growth, Kumar noted that offline retail remains ALDO’s strongest channel, aligning with the broader retail strategy of the Apparel Group. However, online platforms—both the brand’s own website and third-party marketplaces—are experiencing faster growth and play a vital role in ALDO’s omnichannel strategy.

“The shift to digital post-Covid has been significant, but our strength lies in delivering consistent brand experience offline, which we are now extending to emerging geographies,” Kumar noted.

While ALDO continues to cater to demand for office and occasion wear, the growing popularity of athleisure highlights a shift in consumer lifestyles and a rising preference for casual, comfortable fashion.

“The contribution from this category has grown steadily and remains a major ocus for our upcoming collections,” said Kumar.

ALDO is actively integrating AI tools to optimize its retail operations and elevate the customer experience. Kumar shared that the brand is investing in initiatives such as store-level heat mapping, gender-specific footfall tracking, and behavioral data analysis to gain deeper insights and improve in-store performance.

“There are ongoing AI projects aimed at better understanding who is walking into our stores and where they spend time,” he said.

“Consumers are increasingly seeking exclusivity, not just in products but also in how they are served. That’s an area we are investing in,” Kumar added.

MakeMyTrip launches Global Tours & Attractions Booking Platform

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Rajesh Magow, Co-founder and Group CEO of MakeMyTrip

MakeMyTrip, India’s top online travel platform, has ventured into the global experiences segment with the launch of its new Tours and Attractions Booking Platform. This platform offers Indian travellers access to over 200,000 activities across 1,100 cities in 130 countries, covering everything from city tours and cultural experiences to theme parks and adventure sports.

The new offering addresses a common challenge faced by Indian outbound tourists—fragmented information, pricing in foreign currencies, and uncoordinated planning tools. By consolidating all these elements into a single, user-friendly interface, MakeMyTrip aims to simplify and streamline the process of booking global experiences.

Speaking about the development, Rajesh Magow, Co-founder and Group CEO, MakeMyTrip said, “Experiences account for a significant share of spending when Indians travel overseas, yet discovering and booking them remains one of the most fragmented aspects of the journey. Our attempt is to make the discovery and booking experience simple, convenient, and personalised like the flight, hotels, and ground transport bookings. This launch is a natural addition to our stated vision of being a one-stop shop for all travel booking services, with a delightful experience for customers.”

MakeMyTrip’s new Tours and Attractions platform allows travellers to effortlessly discover and pre-book a curated selection of iconic landmarks and immersive in-destination experiences across top global destinations. From world-renowned sites like the Eiffel Tower and Disneyland Paris to adventurous activities like Dubai’s Desert Safari, helicopter rides over Hawaii’s Kauai Island, and interactive sumo shows in Tokyo’s historic Asakusa district, the platform offers it all in one convenient place. Whether travellers are exploring must-see landmarks or diving into local culture, they now have a single gateway to plan it all seamlessly.

Moreover, the platform is powered by partnerships with top global experience providers and is backed by a 24/7 Travel & Assistance Desk, ensuring round-the-clock support across time zones. Additionally, users can browse and book activities in INR, with all reservations seamlessly integrated into the ‘MyTrips’ section—just like their flight and hotel bookings.

This move marks a significant step in MakeMyTrip’s strategic push to deepen its presence across every layer of the travel experience. With the launch of the Tours and Attractions platform, the company further reinforces its mission to become a comprehensive, one-stop travel companion for Indian travellers. By expanding its offerings, MakeMyTrip aims to support users through every stage of their journey—from planning and booking to experiencing destinations firsthand.

Semicon startup Netrasemi raises ₹107-Cr in Series A funding

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Kerala-based semicon startup Netrasemi has secured ₹107 crore in a Series A funding round led by Zoho Corporation Ltd and Unicorn India Ventures.

According to a press release, Netrasemi will use the funds to accelerate research and development, expand manufacturing capabilities, enhance marketing to grow its domestic and global market presence, and launch four system-on-chip (SoC) variants with advanced AI and video analytics features to meet the computing needs of OEMs.

Jyothis Indirabhai, Sreejith Varma, and Deepa Geetha founded the semiconductor startup in 2020 as an Indian Edge AI company focused on developing SoCs that provide efficient computing for next-generation smart IoT devices. The startup specializes in handling complex tasks like video processing by enabling AI-powered analytics directly on devices—eliminating reliance on cloud or server-based computation.

Netrasemi’s proprietary technology includes an energy-efficient neural processing unit (NPU) and a robust library of in-house silicon IPs. The semicon startup also aims to double its current team of 83 engineers to 166 and broaden its reach into sectors such as surveillance, industrial robotics, smart home devices, smart cities, and retail.

STAAH Tech strengthens online operations for Bhopal’s Amer Group of Hotels

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STAAH has helped Bhopal’s Amer Group of Hotels streamline its online bookings and room inventory, eliminating discrepancies and reducing the need for manual oversight across digital platforms.

With a legacy spanning over 30 years in the city of lakes, the Amer Group operates Hotel Amer Palace and Amer Greens, offering three- to four-star hospitality. By integrating STAAH’s Channel Manager across its properties, the group has improved the efficiency of its online operations and inventory management.

“STAAH’s range of solutions is designed to serve every kind of hotel, homestay, resort and budget establishment. In just five months, we’ve seen a turnaround in their online bookings and inventory with our systems in place. The enhanced guest booking experience has also led to higher consumer engagement across all their online platforms,” said Shoaib Ali, National Sales Head India, STAAH.

By integrating STAAH’s technology, the Amer Group of Hotels now benefits from seamless and automated management of online bookings and inventory, with real-time updates ensuring consistency across all platforms.

STAAH’s Channel Manager automates the distribution of rates, inventory, and content across OTAs and metasearch platforms, helping prevent overbookings and optimise occupancy. Additionally, integration with the hotel’s Property Management System (PMS) enables direct reservation syncing, significantly reducing manual tasks and errors. This connectivity streamlines front desk operations, housekeeping, billing, and reporting for smoother day-to-day hotel management.

Value retailer SuperK raises ₹100-Cr; Shubman Gill joins as investor

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Anil Thontepu & Neeraj Menta, co-founders, SuperK

SuperK, a value retailer catering to small-town India, has secured ₹100 crore in its Series B funding round. The round was co-led by Binny Bansal’s 3STATE Ventures and CaratLane founder Mithun Sacheti. Indian Test cricket captain Shubman Gill also took part, along with existing backers Blume Ventures and Xeed Ventures.

Founded in Andhra Pradesh, SuperK operates 130 franchise-led stores across over 80 towns, providing affordable groceries and household essentials. The company aims to tap into India’s vast yet underserved grocery retail market, where organized players account for less than 5% of the $600 billion sector—most of which is driven by Tier-II and smaller cities.

The newly raised funds will be used to strengthen hiring across key business areas and to expand SuperK’s presence into new regions and adjacent product categories.

The fundraise reflects renewed investor interest in regional retail ventures that offer strong unit economics and are driven by founder-led execution.

SuperK was founded in 2020 by BITS Pilani alumni Anil Thontepu and Neeraj Menta, both second-time entrepreneurs. Anil previously led product and growth at Kaodim, Hike, and PhonePe, while Neeraj co-founded Hungerbox and developed products at Flipkart and Zeta (Directi).

Space startup iRocket to go public in $400 Mn SPAC deal

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Space startup Innovative Rocket Technologies, or iRocket, will go public in the United States through a $400 million merger with special purpose acquisition company BPGC Acquisition, the two firms announced.

Following a slowdown after the 2020–2021 boom, investors are reviving SPAC deals this year as ongoing macroeconomic uncertainties—driven by President Donald Trump’s tariff policies—continue to hinder traditional dealmaking.

Meanwhile, Bitcoin Standard Treasury Company—a crypto firm holding more than 30,000 bitcoins—is also planning to go public via a SPAC merger with a Cantor Fitzgerald-backed blank-check company, with the goal of listing on the Nasdaq.

Investors increasingly view SPACs as a compelling alternative to traditional IPOs, which have remained sluggish due to ongoing tariff tensions. However, renewed momentum in trade negotiations has helped revive investor enthusiasm for new public listings.

Founded in 2018, iRocket focuses on developing rocket propulsion systems powered by liquid oxygen and methane. Its patented engine technology enables rapid reloading and relaunching, allowing for quicker mission turnaround.

Investor interest in space startups has surged in recent years, driven by strong backing from venture capital firms. The World Economic Forum estimates the global space economy could reach $1.8 trillion by 2035—a projection echoed by iRocket, which cited a McKinsey report highlighting this massive growth opportunity.

“iRocket’s unique combination of proven engineering talent, reusable launch systems, and solid rocket motor capability positions the Company to capture a significant share of the global launch and propulsion market,” said Wilbur Ross, the 39th U.S. Secretary of Commerce and a sponsor of BPGC.

Cohen & Company Capital Markets served as the financial advisor to the space startup on the transaction, which is expected to close in the fourth quarter of 2025.

Following the merger, the companies plan to list the combined entity on the Nasdaq stock exchange.

Deeptech startup Kluisz.ai raises $9.6 Mn in funding round

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Deeptech startup Kluisz.ai secured $9.6 million in seed funding to develop a generative AI (GenAI)-powered private cloud platform. The funding round was led by early-stage venture capital firm RTP Global, while Unicorn India Ventures, Blume Founders Fund, Climber Capital, and several angel investors also participated.

The deeptech startup was founded by Abhinav Sinha, former Chief Operating Officer (COO) at OYO; Vamshidhar Reddy, former Partner at McKinsey; and Abhijeet Singh, former Vice President of Cloud at Jio. Furthermore, Kluisz.ai aims to create private cloud infrastructure for enterprises by delivering a secure, scalable stack orchestrated by AI.

“Private cloud today transfers the ownership of managing infrastructure to the customer. It is complex, needs large teams, and brings in heavy operational overheads. We are building a stack that removes the pain from design, setup, and day-zero to day-two operations.” Sinha, the COO, said.

With Gartner projecting that 90% of enterprises will operate workloads on hybrid cloud setups by 2027, Kluisz.ai aims to address key challenges related to automation, security, and compliance, while also enabling automatic workload management. Moreover, the platform will empower teams to define performance, cost, and policy objectives, and subsequently automate the infrastructure orchestration to achieve those goals.

Kluisz.ai will use the newly raised funds to expand its engineering team in Bengaluru, accelerate product development, and support early customer deployments in India and the Middle East. Kluisz.ai noted that it is already in discussions with several potential clients, focusing on sectors such as banking and finance, healthcare, manufacturing, and government organizations.

“Abhinav, Vamshi, and Abhijeet bring world-class experience and vision to this space. This is a team with deep technical experience and the product and market instinct to reimagine the private cloud in the AI era. We’re excited to back them,” said Madhur Makkar, principal at RTP Global.

Furthermore, Unicorn India Ventures stated that Kluisz’s AI-powered cloud management, which enables large teams to maintain security and compliance, is indeed a game-changing solution.

THSC partners with The Lalit Suri Hospitality School to strengthen hospitality skilling in India

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The Tourism & Hospitality Skill Council (THSC) has entered into a Memorandum of Understanding (MoU) with The Lalit Suri Hospitality School (TLSHS) at The Lalit, New Delhi.

Dr. Jyotsna Suri, Chairperson & Managing Director of The Lalit Suri Hospitality Group, and Rajan Bahadur, CEO of THSC, officially signed the MoU. In addition, Jyoti Mayal, Chairperson of THSC, Keshav Suri, Executive Director of The Lalit Suri Hospitality Group, Anupam Mukherjee, Dean of TLSHS, along with senior representatives from both organizations, attended the ceremony.

Furthermore, this partnership between THSC and The Lalit Suri Hospitality School highlights a mutual commitment to empowering India’s youth through well-structured, industry-focused skilling programs, while also emphasizing inclusivity, employability, and excellence in hospitality education.

Dr. Jyotsna Suri remarked, “This partnership signifies a powerful convergence of academic expertise and industry demand. At The Lalit Suri Hospitality Group, we believe in building not just businesses but communities, and skilling is a key pillar of that philosophy. By working with THSC, we are proud to contribute to nation-building through youth empowerment and skill creation.”

Jyoti Mayal, Chairperson of THSC, stated, “We are thrilled to see prestigious institutions like TLSHS coming forward to champion the skilling mission. Such partnerships are the backbone of a strong, demand-driven skilling ecosystem that responds to real industry needs and unlocks true potential among India’s youth—especially in tourism, one of the most people-centric sectors.”

Rajan Bahadur, CEO, THSC, emphasized, “The hospitality sector is evolving rapidly, and so must our approach to workforce development. With institutions like The Lalit Suri Hospitality School, which boasts impressive infrastructure and a strong academic foundation, we can ensure that students receive not only domain knowledge but also industry-relevant exposure, life skills, and certification that opens national and international career pathways. This MoU is just the beginning of a broader vision we share.”

Keshav Suri, Executive Director of The Lalit Suri Hospitality Group, added, “We’ve always believed in creating inclusive opportunities. Through this partnership, we hope to skill and place youth from diverse backgrounds—including the LGBTQIA+ community and economically weaker sections—so they can thrive in an industry built on service and compassion.”

Moreover, this MoU between THSC and The Lalit Suri Hospitality School represents a key milestone in bridging academic training with real-world hospitality requirements, thereby creating a skilled, job-ready, and globally competitive workforce for India’s service sector.