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Ventive Hospitality plans expansion with six new Marriott Hotels in India by 2030

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Atul Chordia, chairman and executive director of Ventive Hospitality Ltd.

Ventive Hospitality Ltd—a listed hotel development and management company backed by Panchshil Group and Blackstone—plans to add six new hotels in collaboration with Marriott International across India over the next five years.

The upcoming properties will be located in Varanasi (Uttar Pradesh), Mundra (Gujarat), Pune, and Navi Mumbai (Maharashtra), adding approximately 1,600 rooms to Marriott’s India portfolio.

Currently, Marriott operates 142 hotels in the country, managing more than 25,500 rooms. It also includes 16 ITC Hotels in its broader distribution network. Previously, the company told that it aims to expand its presence to 50,000 rooms in India within the next five years.

Ventive Hospitality, which went public in December last year, currently owns all hotel assets of Panchshil and Blackstone across India and the Maldives, totaling 11 hotels. As part of its partnership with Marriott International, the company will add six new properties to its portfolio.

Out of the six, Ventive will directly own two hotels—a 161-room property in Varanasi and a 200-room hotel in Gujarat. The remaining four, including one JW Marriott and three Moxy-branded hotels in Navi Mumbai and Pune, will be developed by its promoter group, Panchshil, on leased land. Once completed, Ventive will have the option to acquire these properties through a pre-agreed commercial arrangement.

Looking ahead, Ventive aims to double its owned room inventory to over 4,000 in the next five years, with a planned investment of approximately ₹2,500 crore. The company also intends to acquire additional hotels to boost its portfolio.

Marriott International continues to expand its presence in India with a diverse portfolio of 18 hotel brands currently operating in the country. Rajeev Menon, Marriott’s President for Asia Pacific (excluding China), told that around 60% of Marriott’s hotel partners in India have signed agreements for multiple properties, reflecting the company’s strong and long-standing relationships with several ownership groups. Marriott currently manages five hotels owned by Panchshil.

Ventive Hospitality, one of Marriott’s key partners, projects its annual EBITDA from existing properties to rise from ₹1,000 crore to ₹1,350 crore over the next five years. Additionally, its upcoming hotels are expected to contribute another ₹500–600 crore per year once fully operational.

Ventive stated that it will primarily fund its expansion into new hotels using profits generated from its existing properties in India and the Maldives. To bridge any short-term funding gaps, the company plans to raise capital through debt.

“This partnership with Marriott not only strengthens our two-decade-long relationship but also marks a pivotal moment in our journey to redefine India’s hospitality sector,” said Atul Chordia, chairman and executive director of Ventive Hospitality Ltd in a statement. 

Ventive currently owns 11 hotels across India and the Maldives and collaborates with other hospitality brands such as Minor Hotels and Atmosphere Hotels. In addition to expanding its footprint in India, the company is also developing a Ritz-Carlton Reserve property in Pottuvil, located on the east coast of Sri Lanka.

Qoruz raises $500,000 in pre-Series A round to boost influencer marketing tech

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Qoruz, a Bengaluru-based creator intelligence and collaboration platform, has raised $500,000 in funding from The Chennai Angels as part of its ongoing $1 million pre-Series A round. The round also attracted investment from senior marketing executives, agency heads, and entrepreneurs from the media and advertising sectors.

Previously, the startup secured ₹4.5 crore in seed funding from Dexter Angels and the IIM Indore Alumni Fund.

According to a press release, Qoruz will use the fresh capital to enhance its AI capabilities, expand into new industry verticals, and strengthen its global footprint—particularly in the Middle East and Southeast Asia.

Founded in 2014 by Praanesh Bhuvaneswar, Prabakaran B, Aditya Gurwara, and Priya Vivek, Qoruz enables brands to discover, assess, and collaborate with creators in a data-driven, structured manner. The platform aims to turn influencer marketing into a measurable and strategic channel, moving beyond traditional intuition-based approaches.

“We’re not just building a platform, we’re building an ecosystem for the creator economy, where creators are central to how products are discovered, trusted, and bought. For this to scale meaningfully, it needs more than connections; it needs infrastructure. This capital allows us to deepen that foundation and bring operational precision to a space that has long operated on instinct,” said Praanesh Bhuvaneswar, co-founder and CEO of Qoruz.

Looking ahead, Qoruz aims to achieve $30 million in annual recurring revenue (ARR) by 2026, with plans to grow enterprise client adoption at a rate of 3x year-over-year. Furthermore, the company claims that over 1,000 brands and agencies—including Amazon, Flipkart, Jiostar, Dabur, L’Oréal, and Coca-Cola—have already adopted its platform to support and scale their creator marketing initiatives.

CoreWeave to acquire Core Scientific in $9 Bn all-stock deal

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Michael Intrator, CEO, CoreWeave

CoreWeave Inc. is set to acquire data-center operator Core Scientific Inc. in a $9 billion all-stock deal to gain greater control over the infrastructure fueling the AI boom.

Through this acquisition, CoreWeave will gain access to over a gigawatt of data-center capacity across the U.S., much of which is already supporting its clients’ AI workloads, including training and deployment. The company stated on Monday that by owning more of its supply chain, it can cut out lease-related expenses, lower overall project financing costs, and better secure long-term revenue growth.

Cloud infrastructure companies are rapidly expanding their data center operations to keep up with the surging demand driven by artificial intelligence, sparking a flurry of deals and collaborations across the sector. Just last week, Oracle Corp. and OpenAI announced an agreement to secure 4.5 gigawatts of data-center capacity. Meanwhile, CoreWeave has emerged as a key player in this AI infrastructure boom, with its stock price soaring nearly 300% since its public debut in March—fueled by strong investor interest in AI and high-profile partnerships with major players like Nvidia Corp.

In an interview Monday, CoreWeave Chief Executive Officer Michael Intrator framed the acquisition as part of the company’s strategy to “participate all along the stack,” noting the company’s recent takeover of the AI developer platform Weights and Biases Inc. Intrator said his company will continue to “scour the market and the world for assets that we believe drive our company forward.”

CoreWeave and Core Scientific will need the blessing of regulators. Intrator said he doesn’t expect antitrust issues to surface. “Core Scientific is a small data-center provider relative to the market, and CoreWeave is not one of the hyperscalers,” he said.

According to CoreWeave’s statement, the deal values Core Scientific’s stock at $20.40 per share — a 66% premium over its June 25 closing price of $12.30, the day before news of the advanced talks broke via the Wall Street Journal. As of the most recent close on Thursday, Core Scientific’s shares stood at $18.

“Currently, we pay fees to Core Scientific for hosting as we use their facilities,” Intrator said. “When we acquire them, we will be able to recapture that margin internally,” he said, noting that CoreWeave expects to save $500 million in annual costs by the end of 2027.

The companies expect to close the deal in the fourth quarter of 2025, pending regulatory approvals. Upon completion, CoreWeave stated that Core Scientific shareholders will own less than 10% of the merged entity.

Following the announcement, CoreWeave’s shares dipped 3.4% to $159.51 as of 1:43 p.m. in New York, while Core Scientific’s stock fell 17% to $14.88 — trading over $5 below the offer price, indicating investor skepticism around the deal’s terms.

Core Scientific has long led the Bitcoin mining industry, operating large-scale data centers that use energy-intensive computing systems to generate the original cryptocurrency. However, the company filed for bankruptcy during the crypto market downturn. It later emerged from bankruptcy in January last year, buoyed by a strong Bitcoin recovery and a strategic shift toward AI-focused infrastructure.

Core Scientific became a key infrastructure partner for CoreWeave by utilizing its expansive data center footprint and substantial power access to support AI workloads. Through the acquisition, CoreWeave will gain control of approximately 1.3 gigawatts of data-center capacity from Core Scientific’s network — a scale far exceeding that of most individual U.S. data centers. To put it in perspective, one gigawatt can power around 750,000 American homes.

This deal follows CoreWeave’s earlier move last year, when it proposed a $1 billion acquisition of Core Scientific. At that time, the two companies also entered into a series of 12-year agreements, under which Core Scientific committed to providing 200 megawatts of infrastructure to host CoreWeave’s operations.

ROHL expands presence in Maharashtra with new hotel launch in Solapur

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Chander K. Baljee, Chairman & Managing Director, ROHL

Royal Orchid Hotels Ltd (ROHL) has unveiled a new property in the bustling industrial and commercial city of Solapur. The newly launched Regenta Central Shivani, Solapur is designed to provide modern comforts and cater to the needs of both business and leisure travelers. This marks ROHL’s fourth property launch in Maharashtra this year, reinforcing its expanding presence in the state.

Strategically situated in the MIDC area of south-west Maharashtra—along the Bhima and Seena river basins—the property offers picturesque lake views. Inspired by Rajasthani architecture, Regenta Central Shivani features 65 elegantly designed rooms, including three accessible rooms to ensure inclusivity and comfort for all guests. The hotel offers contemporary amenities such as a swimming pool, spa, and gym, attracting a wide range of travelers.

Known as the “textile city,” Solapur holds both commercial and religious significance. It is a major producer of industrial goods and boasts a rich cultural heritage. Conveniently located just four hours from Pune and Hyderabad, the property is also close to prominent pilgrimage sites like Tuljapur, Pandharpur, and Akkalkot, making it an ideal destination for both business visits and spiritual retreats.

The hotel also features the largest common area in Solapur, enhancing the guest experience with a variety of dining and event options. It includes ROHL’s signature all-day dining restaurant with a seating capacity of 170, a poolside bar that accommodates 40 guests, and a warm, inviting lobby café. Perfectly suited for intimate gatherings and mid-sized events, the property offers a 1,000 sq. ft. meeting room, a spacious 8,600 sq. ft. banquet hall, and a sprawling 25,000 sq. ft. lawn for outdoor functions.

Speaking on the announcement, Chander Baljee, Chairman and Managing Director of Royal Orchid Hotels Ltd., said, “We are thrilled to expand our presence in Maharashtra with our 13 property in the state, addressing the growing demand for tourism and business accommodations. Solapur, with its rich tradition of textiles, handicrafts, and leather goods, serves as a strategic commercial hub with excellent connectivity to cities like Hyderabad and Pune. This expansion aligns with our plans to penetrate micro-markets with properties ranging from upscale hotels to value stays. We are excited to partner with Mathura Agro for Regenta Central Shivani, Solapur.”

Venugopal Karwa and Lavesh Karwa, MD of Mathura Agro Industries added, “This collaboration with ROHL is an exciting milestone for us. With the introduction of the Regenta brand fresh and vibrant energy to Solapur, we look forward to offering our guests a distinctive and exceptional experience.”

Solapur is a dynamic destination that offers a rich mix of historical, cultural, and natural attractions. Renowned for its ancient landmarks such as the Siddheshwar Temple and Shri Shivyogi Siddheshwar Swami Math, the city draws pilgrims and devotees from all corners of the country. Beyond its spiritual significance, Solapur is also a haven for nature lovers. The Great Indian Bustard Sanctuary provides a rare opportunity to witness these majestic birds in their natural habitat, while the peaceful environs of Ujani Dam offer boating, birdwatching, and a tranquil escape into nature’s serenity.

Healthy food startup Khetika raises $18 Mn to accelerate growth

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L-R: Raghuveer Allada, Prithwi Singh & Darshan Krishnamurthy, co-founders, Khetika

Healthy food startup Khetika has secured $18 million in a Series B funding round, as per an official press release. The round was led by the Narotam Sekhsaria Family Office and Anicut Capital. Additionally, existing investors—Incofin India Progress Fund, Rajasthan Gum, and Shree Ram India Gums—also participated in the round, further reaffirming their support for the brand’s growth journey.

Founded in 2017, Khetika offers a diverse range of food products, including batters, chutneys, millet-based staples, and spices. Moreover, the brand claims to operate a tech-driven supply chain that directly sources from farmers across 14 states in India, thereby ensuring freshness and traceability.

Khetika will use the newly raised capital to expand its brand and scale manufacturing capabilities. Furthermore, the healthy food startup plans to grow its product line and explore international markets as part of its broader growth strategy.

“We closed FY25 with ₹247 crore in revenue, up from ₹160 crore in the previous year. That’s over 50% year-on-year growth. We’re aiming to hit ₹2,000 crore in revenue in the next three years—a nearly 10X growth. The drivers will be channel expansion, entering international markets, product innovation, and scaling our brand,” Dr Prithwi Singh, Co-founder and CEO of Khetika said.

Khetika’s product range is available across major quick commerce platforms as well as in both modern and traditional retail outlets. Although quick commerce has emerged as the company’s fastest-growing sales channel, traditional distribution continues to be its primary revenue driver, contributing nearly 75% of overall sales.

“Indian households increasingly demand clean-label, health-focused foods that deliver on nutrition and transparency—precisely what Khetika provides. Prithwi, Raghu, Darshan and the Khetika team have demonstrated an exceptional grasp of sourcing networks, product development and the retail distribution landscape, and have built technology that drives measurable impact across the supply chain. It’s exciting to partner with them on this journey,” said Adithya Bharadwaj, Principal, Anicut Capital.

With the latest Series B funding, Mumbai-based Khetika has now raised a total of approximately $25 million. Significantly, around 30% of the newly secured capital will be used to provide partial exits to early backers, including SIDBI Venture Capital. Moreover, this move reflects the startup’s growing maturity and increasing investor confidence as it continues to scale its operations.

Sarovar Hotels partners with Prime Land Estates to launch Sarovar Portico in Gwalior

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Rajesh Ranjan, Senior Vice President – Development, Sarovar Hotels

Sarovar Hotels, in partnership with Prime Land Estates, has announced the signing of Sarovar Portico Gwalior, a 100-room hotel set to open in 2026. This upcoming launch marks a significant step in Sarovar’s expansion across Central India, underscoring its dedication to offering top-tier hospitality in emerging and established markets.

Throughout 2025, Sarovar Hotels has maintained strong growth momentum with several new signings across the country, further solidifying its presence in strategic locations. The addition of the Gwalior property strengthens the brand’s footprint in Madhya Pradesh, addressing the rising demand from both business and leisure travelers in the region.

Situated in the historic city of Gwalior—renowned for its cultural heritage and architectural splendor—Sarovar Portico Gwalior will, therefore, offer guests a stay that seamlessly blends contemporary comfort with local charm. As a result, visitors can expect an authentic and inviting hospitality experience that reflects the essence of the region.

Rajesh Ranjan, Senior Vice President – Development, Sarovar Hotels, said, “We are delighted to bring Sarovar’s trusted hospitality to Gwalior, a city steeped in history and culture. This signing underscores our strategic focus on expanding in Central India, where we see significant potential for tourism and business travel. Sarovar Portico Gwalior will offer travelers a perfect blend of contemporary amenities and the essence of the region’s heritage. We look forward to welcoming guests in 2029.”

Tanvi Bhadoria, Director of Prime Land Estates Private Limited, said, “We are delighted to take a step toward reimagining Gwalior’s urban landscape. By bringing premium hospitality into a thoughtfully developed township, Garden City, we’re shaping a destination that blends living, leisure, and global sensibility. This milestone reflects our deeper commitment to the city’s growth—we’re honored to bring this to Gwalior—a reflection of our belief in the city’s potential and promise.”

With the signing of Sarovar Portico Gwalior, Sarovar Hotels continues to strengthen its presence in Central India, aligning with its broader vision of expanding into high-potential markets. By combining modern amenities with regional character, the upcoming property aims to meet the evolving needs of both business and leisure travelers, reinforcing Sarovar’s reputation for delivering exceptional and culturally enriched hospitality experiences.

91Wheels is Changing the Way India Discovers and Chooses Personal Mobility

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New Delhi, 7th July, 2025: 91Wheels, India’s youngest and fastest-growing automotive platform, is transforming how the country discovers, experiences, and buys vehicles. With a sharp focus on trust, innovation, and personalization, 91Wheels has rapidly emerged as a one-stop solution for everything automotive, whether it’s two-wheelers, cars, or electric vehicles.

Founded by a team of seasoned professionals from the automotive sector, 91Wheels combines deep industry expertise with youthful energy and creativity. The platform reflects the team’s understanding of what Indian consumers seek when making mobility decisions, which is clarity, reliability, and access to relevant information.

At its core, 91Wheels caters to the full spectrum of automotive audiences, from first-time buyers and enthusiasts to experienced vehicle owners. The platform offers comprehensive coverage of new vehicle launches, detailed comparisons, ownership reviews, and insights on the growing electric mobility segment. Every model in India is meticulously documented, ensuring users have access to the most comprehensive, unbiased, and up-to-date information. Through expert reviews, real-world user feedback, high-quality videos, and intuitive decision-making tools, 91Wheels enables consumers to make confident vehicle-buying decisions.

The platform also collaborates actively with automotive manufacturers, mobility startups, and dealership networks to support industry growth. Through brand promotions, connecting with people, and providing trusted information, 91Wheels helps brands effectively engage with consumers.

“Our mission has always been to simplify personal mobility by building a platform rooted in trust, transparency, and relevance. We are not just offering information; we are helping people make confident, well-informed choices that suit their lifestyles,” said a spokesperson for 91Wheels.

As India’s automotive sector continues to evolve, 91Wheels is committed to reshaping how the nation engages with mobility, making it simpler, smarter, and more consumer-friendly.

About 91Wheels:                                                                                  

91Wheels is one of India’s fastest-growing platforms for discovering and learning about vehicles. It offers clear and trusted information along with interactive tools to help millions of people make better vehicle-buying decisions.

Incuspaze acquires realty analytics firm VSKOUT to boost tech capabilities

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Sanjay Choudhary, Founder & CEO, Incuspaze

Workspace solutions provider Incuspaze has acquired B2B SaaS firm VSKOUT through a cash-and-equity swap deal.

With India’s Global Capability Centre (GCC) market expected to grow from $64.6 billion in FY24 to between $99 billion and $105 billion by 2030, Incuspaze is actively building a dedicated GCC vertical. The acquisition aligns with its strategy to integrate VSKOUT’s real-time property intelligence into its workspace solutions for both Indian clients and global capability centres.

Founder and CEO Sanjay Choudhary said the company financed the equity portion of the deal internally using its existing reserves.

Following the acquisition, Incuspaze will strategically integrate VSKOUT to enhance its GCC-focused offerings. However, it will continue to function independently as a data platform, serving its current clients, developers, and institutional partners.

Additionally, Incuspaze is currently in discussions to raise pre-IPO funding.

“While VSKOUT’s revenue contribution in FY25–26 will be marginal, we believe this partnership will significantly accelerate our topline growth in the long term,” Choudhary said.

Incuspaze is also in active talks with other potential acquisition targets as part of its wider growth strategy. For FY25–26, the company anticipates that inorganic growth will contribute around 25% of its total revenue. It is targeting overall revenue of ₹350–400 crore for FY26, fueled by a mix of organic expansion and strategic acquisitions.

Founded in 2016, VSKOUT offers proprietary analytics tools, advanced data mapping capabilities, and in-depth insights into India’s commercial real estate sector, strengthening Incuspaze’s tech-led approach to workspace solutions.

Saumya Kumar and Pankaj Jain, Co-Founders of VSKOUT, emphasized that the acquisition goes beyond operational synergy. “Beyond the synergy in services, the cultural fit and aligned goals make this a seamless transition. Our teams are now co-creating a data-first future for the real estate and workspace sector,” they said.

As part of the integration, both VSKOUT co-founders will assume leadership roles within Incuspaze. Saumya Kumar will lead the GCC vertical and spearhead strategic research and data innovation, while Pankaj Jain will focus on enhancing Incuspaze’s overall technology stack, driving both revenue growth and improvements in workplace experience.

The integration process is already in motion, with complete alignment of systems, teams, and policies expected in the coming weeks. Meanwhile, VSKOUT will continue serving its existing client base independently.

Rebel Foods eyes stake sale in premium chocolate brand Smoor

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Jaydeep Barman, co-founder and CEO, Rebel Foods

Cloud kitchen giant Rebel Foods, known for brands like Faasos and Behrouz Biryani—has reportedly initiated talks to sell its majority stake in premium chocolate and dessert brand Smoor, according to sources familiar with the matter.

As part of a broader restructuring strategy, the company has also shut down its offices in Gurugram and Bengaluru.

One of the sources mentioned that Rebel Foods, which holds approximately 57% ownership in Smoor, has been actively seeking a buyer, though discussions have not yet materialized into a deal.

According to the sources mentioned earlier, Smoor’s performance has fallen short of expectations, especially in critical markets like Mumbai. With Rebel Foods gearing up for a potential IPO, there is increasing pressure to shed underperforming brands from its portfolio.

In response to inquiries, a Rebel Foods spokesperson stated that the company remains committed to Smoor and continues to invest in its long-term growth.

“Over the past six months, we have made significant long-term investments in Smoor, including the commissioning of a new state-of-the-art manufacturing facility,” the spokesperson said.

On closing its offices, the spokesperson said, “Our decision to consolidate teams in Mumbai is a strategic step towards deeper collaboration and faster decision-making as we enter the next phase of growth.”

Rebel Foods acquired a majority stake in premium chocolate and dessert brand Smoor in April 2022, valuing the business at over $50 million. The deal aligned with Rebel’s broader ambition to transform into a comprehensive brand aggregator in the food and beverage (F&B) sector, with plans to invest up to $150 million in acquiring and growing partner brands. However, the company has not disclosed how much of that investment has been deployed so far.

At the time of acquisition, Rebel Foods had projected a threefold growth for Smoor in FY23, with a target of reaching $100 million in annual revenue by 2026.

Financial data sourced from Tracxn shows that Smoor reported a 16% rise in revenue to ₹149 crore in FY24. However, the brand continued to struggle with profitability, recording a net loss of ₹19 crore—widening from ₹17 crore in FY23 and ₹10 crore in FY22.

Meanwhile, Rebel Foods itself, which raised $210 million in a funding round led by Singapore’s Temasek at a flat valuation in December, showed signs of financial improvement in FY24 despite ongoing losses. As per filings with the Registrar of Companies (RoC), the company narrowed its net loss by 42% to ₹378 crore, while revenue rose by 19% to ₹1,420 crore.

According to sources, the latest developments reflect Rebel’s effort to streamline its operations and refocus its strategy ahead of a potential IPO, even as some of its premium brand bets, like Smoor, continue to underperform.

Rival cloud kitchen operator Curefoods—backed by Flipkart co-founder Binny Bansal—recently filed draft papers for an ₹800 crore IPO. Curefoods operates brands like EatFit, Sharief Bhai Biryani, Nomad Pizza, and Krispy Kreme and ranks as the second-largest internet-first F&B company after Rebel Foods.

In a recent LinkedIn post, Rebel Foods’ co-founder and CEO Jaydeep Barman announced that the company plans to acquire, invest in, or collaborate with restaurant brands that have reached a “minimum scale”—underscoring its continued focus on scaling strategic partnerships.

Australian deeptech startups join forces to launch $150M innovation company

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Two Australian startups, NextOre and MRead, have officially merged to form MagnaTerra Technologies, a deeptech company now valued at US$150 million.

Both startups originated from CSIRO, Australia’s national science agency, and specialise in magnetic resonance technology—a cutting-edge method used to detect a range of materials including minerals, explosives, and narcotics.

Founded in 2017, NextOre focused on developing advanced sensors capable of distinguishing copper ore from waste rock, significantly improving mining efficiency. Meanwhile, MRead built high-precision landmine detectors that outperform conventional metal detectors in both accuracy and safety.

Together, through this strategic merger, the two companies aim to revolutionise the resource and security sectors by combining their expertise and expanding the applications of magnetic resonance technology globally.

Following the merger, NextOre shareholders now own a 65% stake in MagnaTerra Technologies, giving them a majority share in the newly formed deeptech company.

As part of the deal, MagnaTerra secured an $11 million capital raise, led by RFC Ambrian’s QCM Fund, with additional backing from Shaw and Partners as well as several private investors. Moreover, CSIRO has retained a one-third ownership stake, maintaining its strategic involvement in the company’s future direction.

Furthermore, in a key leadership move, MagnaTerra appointed John Shanahan, former CEO of MRead, as its new CEO. The company expects his leadership to drive global expansion and advance the development of magnetic resonance technology across vital industries like mining, security, and defence.

The merger of NextOre and MRead to form MagnaTerra Technologies marks a significant milestone in Australia’s deeptech landscape. MagnaTerra Technologies, now valued at $150 million, brings together strong investor backing and strategic support from CSIRO to drive innovation in magnetic resonance technology across key sectors such as mining, security, and defence. Moreover, CEO John Shanahan leads the company’s efforts to expand its global footprint and transform the application of advanced sensing technologies worldwide.

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