IIMA Ventures and Jaivel launch aerospace & defence acceleration fund for startups

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October 13, 2025

IIMA Ventures, the startup incubator founded by IIM Ahmedabad, in collaboration with Jaivel Aerospace, a manufacturing technology company, has launched an aerospace and defence acceleration fund aimed at supporting 8–10 early-stage startups.

The initiative will provide pre-seed and seed funding of up to $400,000 per startup for companies working on technologies such as autonomy, advanced materials, advanced manufacturing, and secure communications.

Along with financial support, the selected startups will gain specialized domain expertise, structured mentorship, and access to development facilities. They will also have opportunities to collaborate with leading players in the aerospace industry, helping them accelerate their transition from prototype to market.

“Together, we are committed to de-risking the 0-to-1 journey by solving for capital, connections, coaching, and community,” said Vipul Patel, Partner at IIMA Ventures.

Founded in 2002, IIMA Ventures has been actively collaborating with startups such as Sagar Defense, ePlane, Ideaforge, NabhDrishti, Nopo Nanotechnologies, and Onnes Cryogenics. The incubator has also developed a portfolio of around 14 startups in the space-tech sector, featuring companies like Agnikul, PierSight, GalaxEye, and Bellatrix.

“Together with IIMA Ventures, we aim to create the platform for startups to leverage Jaivel Aerospace’s international advanced manufacturing network as well as build a robust execution model from the start,” noted Vipul Vachhani, Founder & CEO at Jaivel Aerospace.

Founded in 2002, IIMA Ventures has been actively collaborating with startups such as Sagar Defense, ePlane, Ideaforge, NabhDrishti, Nopo Nanotechnologies, and Onnes Cryogenics. The incubator has also developed a portfolio of around 14 startups in the space-tech sector, featuring companies like Agnikul, PierSight, GalaxEye, and Bellatrix.

Home decor startup Livspace achieves Rs 1,460-Cr revenue in FY25

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October 13, 2025

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Home decor startup Livspace achieves Rs 1,460-Cr revenue in FY25 — Ramakant Sharma and Anuj Srivastava, co-founders, Livspace

Omnichannel home interiors and renovation platform Livspace reported moderate topline growth, with its FY25 revenue increasing 23% year-on-year (YoY) to Rs 1,460 crore. In comparison, the company’s revenue had surged 85% in FY23 and grew approximately 20% in FY24.

Livspace’s adjusted EBITDA loss before ESOPs (employee stock ownership plan) narrowed 47%, dropping to Rs 131 crore in FY25 from Rs 246 crore in FY24.

The IKEA-backed company also announced that its reverse flip of domicile to India is planned for the end of the year, with the platform aiming to launch its IPO by late 2025 or early 2026, according to Ramakant Sharma, CEO of Livspace.

The company aims to cater to both affordable and premium segments through its interior designing services. Livspace plans to expand its footprint in Tier-II and Tier-III cities, increase its retail stores to 200, and introduce additional product categories in the current fiscal year.

The Bengaluru-based platform also intends to launch a new private-label line of kitchen appliances, including hobs and chimneys.

For FY25, the company reported a gross margin of 51.5%, with gross profit rising 26% to Rs 752 crore, up from Rs 598 crore in FY24.

“The results reﬂect stronger traction in premium and mass-premium residential segments, higher quality of revenue, and ongoing discipline on costs and unit economics,” the company said in a statement.

Founded in 2015 by Ramakant Sharma and Anuj Srivastava, Livspace is a home and design services platform that connects homeowners with professional designers and vendors. The company achieved unicorn status in 2022 after raising $180 million in funding, reaching a valuation of over $1 billion.

To date, the company has raised $450 million from investors including KKR, Ingka Group Investments, Bessemer Venture Partners, and Jungle Ventures, among others.

GoodScore raises $13 Mn in Series A funding round

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October 13, 2025

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GoodScore raises $13 Mn in Series A funding round — Sanchit Bansal, founder, GoodScore

Bengaluru-based fintech startup GoodScore has secured $13 million in Series A funding, led by Peak XV Partners, with additional backing from Stellaris Venture Partners and Saison Capital.

The newly raised capital will support the expansion of its AI infrastructure, the hiring of product and engineering talent, and the scaling of its credit marketplace that connects borrowers with lenders. GoodScore also plans to strengthen its presence across Tier II and Tier III cities in India.

Founded in 2023 by Sanchit Bansal, GoodScore enables users to track, manage, and improve their credit health through AI-driven insights. The platform integrates credit bureau data, banking transactions, and spending records to provide a comprehensive view of users’ financial profiles. It also offers personalized score improvement tips and credit dispute assistance.

Since its inception, the startup has reportedly attracted millions of users nationwide and collaborates with major financial partners, including HDFC Bank, KreditBee, and Tata Capital, to deliver credit-related solutions.

GoodScore started monetizing in FY24, with its operating revenue jumping to ₹2.5 crore from nearly nil in FY23. However, its losses also grew 7.7 times, reaching ₹7 crore during the same period.

TGI Hotels Strengthens Central India Footprint with Two New Fressotel Properties in Bhopal and Maheshwar

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October 13, 2025

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Madhya Pradesh, India – TGI Hotels is reinforcing its presence in Central India with the signing of two new Fressotel properties in Bhopal and Maheshwar, Madhya Pradesh. These projects are part of the company’s ongoing expansion across northern and southern India.

“We are on an expansion spree in South and North India, and these two new properties mark a significant step in strengthening TGI Hotels’ presence in key Tier-II destinations,” said Amit Kumar, Chief Marketing Officer, TGI Hotels.

Bhopal – Greenfield Project

The property, TGI Hotels’ first Greenfield project in Bhopal, is strategically located to serve both business and leisure travellers. It will feature well-appointed rooms, a restaurant, banquet/conference hall, and a gym, offering a modern and comfortable stay experience.

Maheshwar – Under-Construction Project

Located just 1 km from Narmada Ghat, this property blends heritage with modern hospitality. Guests will enjoy thoughtfully designed rooms, a rooftop restaurant, banquet hall, and gym, reflecting Maheshwar’s cultural and spiritual charm.

“These projects align with our focus on providing consistent service, comfort, and value to our guests while partnering with owners to create successful hospitality assets,” said Manishekhar Pandey, Regional Director, TGI Hotels.

Both properties are expected to strengthen TGI Hotels’ footprint in Central India and contribute to the region’s growing travel and tourism ecosystem.

About TGI Hotels

TGI Hotels is a fast-growing hospitality group with a strong presence across India, offering a diverse range of experiences through its various brands.ds. With a focus on quality, comfort, and customer satisfaction, TGI continues to expand into strategic markets through management contracts.

Indian space-tech startup GalaxEye to launch world’s first multi-sensor EO Satellite by 2026

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October 13, 2025

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Indian space-tech startup GalaxEye to launch world’s first multi-sensor EO Satellite by 2026 — L-R: Suyash Singh, Denil Chawda, Kishan Thakkar, Pranit Mehta, and Rakshit Bhatt, co-founders, GalaxEye

Space-tech startup GalaxEye announced on Monday that it will launch the world’s first multi-sensor Earth Observation (EO) satellite, named ‘Mission Drishti,’ in the first quarter of next year. Furthermore, the launch marks the beginning of its plan to establish a constellation of satellites over the next four years.

The 1.5-meter resolution satellite will empower governments, defence organisations, and industries to conduct advanced geospatial analysis across various domains. In particular, it will support border surveillance, disaster response, defence, infrastructure monitoring, utilities, agriculture, and financial and insurance assessments, thereby delivering real-time structural and environmental insights.

“With Mission Drishti, we are unlocking a new era of actionable data through space exploration. For the first time in the world, we are deploying a satellite that combines multiple sensing technologies on a single platform, enabling us to observe the Earth in ways that were previously impossible,” Suyash Singh, co-founder & CEO, GalaxEye, said in a statement.

The company intends to deploy 8–10 satellites within the next four years.

Weighing 160 kilograms, Mission Drishti stands as India’s largest privately developed satellite and the highest-resolution satellite ever built in the country.

“This mission places India firmly on the global space map and creates a system that turns space technology into intelligence that businesses, governments, and communities can rely on,” Singh said.

Equipped with Synthetic Aperture Radar (SAR) and high-resolution optical payloads, the satellite will provide Earth observation data regardless of weather conditions or time of day. GalaxEye stated that the satellite has undergone rigorous testing, including structural and thermal assessments, to ensure its resilience in the harsh environment of space.

Engineers have designed each satellite in the upcoming constellation as a remote-sensing Earth observation system; moreover, they have fine-tuned it for spatial, spectral, and temporal resolution to capture high-precision imagery.

“With the recent geopolitical events increasing, next generation imaging technologies with AI infusion, we look forward to providing unparalleled imagery intelligence,” Singh said.

“We already have interest from defence and security agencies, utilities, agriculture, and financial companies and we are truly excited about the potential of this technology to transform decision-making and operational efficiency across industries,” Singh said.

Travel tech firm Navan targets $6.45 Bn valuation in upcoming US IPO

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October 11, 2025

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Travel tech firm Navan targets $6.45 Bn valuation in upcoming US IPO — Ariel Cohen and Ilan Twig, co-founders, Navan

Navan, a corporate travel and expense management company, announced plans to pursue a U.S. initial public offering (IPO) targeting a valuation of up to $6.45 billion, which is lower than its 2022 funding round valuation, as it advances its listing plans despite the ongoing U.S. government shutdown.

Based in Palo Alto, California, Navan aims to raise approximately $960 million by offering 36.92 million shares at a price range of $24 to $26 per share. Its shares are expected to begin trading on the Nasdaq under the ticker symbol “NAVN.” The IPO comes amid a rebound in U.S. IPO activity, fueled by easing market volatility, which has bolstered investor sentiment following a period of trade policy uncertainty. The strong market debuts of Alliance Laundry and Phoenix Education Partners highlighted a renewed investor appetite for risk.

However, the U.S. government shutdown poses a potential obstacle to this recovery, as the Securities and Exchange Commission (SEC) is operating with limited staff, suspending IPO reviews and other regulatory approvals.

“The IPO comes amid heightened volatility in equities in general and big weakness in some of this year’s U.S. IPO vintage,” said Josef Schuster, CEO of IPO research firm IPOX. “While IPO sentiment remains positive overall, we expect this to weigh on IPO demand going forward. We therefore believe that issuers need to be flexible to potentially accommodate this changing market environment with more attractive offering terms.”

In 2022, investors valued Navan at $9.2 billion after the company raised $300 million in a Series G funding round.

Founded in 2015 as TripActions by Ariel Cohen and Ilan Twig, Navan initially focused on corporate travel management, aiming to modernize services traditionally offered by companies such as American Express and SAP Concur. Over time, Navan has expanded into corporate payments and expense management, building a global client base that includes Zoom Communications (ZM.O) and Lyft (LYFT.O), according to its website.

Goldman Sachs, Citigroup, Jefferies, Mizuho, and Morgan Stanley are underwriting the IPO.

Accor partners with Mascioni Hotel Collection to elevate hospitality standards

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October 11, 2025

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Accor has announced a global partnership with Standard Textile Co., Inc., appointing the Mascioni Hotel Collection as the preferred luxury linen provider for its premier brands: Fairmont, Sofitel Legend, Sofitel, and MGallery Collection. This collaboration will span over 350 properties worldwide, highlighting Accor’s dedication to enhancing guest experiences through thoughtful design and comfort.

Omer Acar, CEO of Fairmont, said, “Fairmont Hotels & Resorts are always welcoming, approachable and authentic, creating a space where guests feel at home while experiencing something extraordinary. Our collaboration with Mascioni Hotel Collection is a true testament to our shared commitment to excellence.”

As part of the partnership, Accor and Mascioni Hotel Collection have collaboratively created an exclusive line of bed and bath linens, specifically designed to elevate the sense of indulgence in every stay. Moreover, made from premium cotton, the collection delivers exceptional softness and durability, while simultaneously reflecting the unique character of each brand. Specifically, Sofitel and Sofitel Legend evoke timeless French elegance, whereas MGallery Collection introduces a contemporary design edge, and in contrast, Fairmont embodies refined luxury rooted in classic sophistication.

In line with the sustainability and wellness objectives of both Accor and Standard Textile, the Mascioni Hotel Collection holds the OEKO-TEX Standard 100 certification, ensuring that all products are free from harmful chemicals and environmentally safe.

Maud Bailly, CEO of Sofitel Legend, Sofitel, MGallery & Emblems, stated, “Sofitel and MGallery are very proud to partner with Mascioni Hotel Collection, integrating our luxury offerings with the pinnacle of Italian textile artistry. This strategic collaboration redefines in-room elegance and comfort, delivering a truly exceptional guest experience globally.”

Gary Heiman, Chief Executive Officer of Standard Textile, added, “We are thrilled to partner with Accor. Accor’s luxury portfolio epitomizes sophistication, innovation, and personalized experiences, which align perfectly with the brand values of Mascioni Hotel Collection. This partnership allows us to create something truly special, setting a new standard in luxury.”

Founded in 1957 in Italy, the Mascioni Hotel Collection has been synonymous with fine craftsmanship and bespoke textiles for the world’s most prestigious hotels. Since Standard Textile acquired the brand in 2018, it has actively upheld a legacy of Italian excellence and timeless design.

BWH Hotels strengthens tech portfolio with launch of AutoClerk Atlas PMS

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October 11, 2025

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BWH Hotels, the global hospitality group behind WorldHotels™, Best Western® Hotels & Resorts, and SureStay® Hotels, has launched AutoClerk® Atlas, a next-generation Property Management System (PMS) developed in collaboration with HotelKey. This launch represents a major advancement in BWH Hotels’ technology evolution, focused on transforming hotel operations, enhancing guest experiences, and improving efficiency across its international network.

AutoClerk Atlas is a modernized version of the long-standing AutoClerk system, blending BWH Hotels’ deep industry expertise with HotelKey’s advanced cloud-based technology. The partnership combines scalability, reliability, and intelligent automation to deliver a PMS that is simple, powerful, and built for the future of hospitality.

Bill Ryan, Senior Vice President and Chief Technology Officer, BWH Hotels, said, “AutoClerk Atlas marks a pivotal step forward in our journey to reimagine both the guest and hotel team experience. Through partnering with HotelKey, we’re introducing a world-class Property Management System that’s scalable, intuitive, and future-ready.”

Designed to address today’s operational demands, AutoClerk Atlas provides a comprehensive suite of features. It enables one-day onboarding with integrated training modules for quick and efficient adoption. The system streamlines daily operations through automated payments and reconciliation, while offering actionable guest insights that empower hotel teams to deliver personalized service. Additionally, AutoClerk Atlas ensures seamless integration with both existing and third-party systems, providing smooth connectivity across hotel operations.

Aditya Thyagarajan, Co-Founder and President of HotelKey, stated, “We are excited to bring AutoClerk Atlas powered by HotelKey to BWH Hotels, driving operational excellence and delivering a seamless, elevated guest experience.”

Echoing this sentiment, Fareed Ahmad, Co-Founder and CEO of HotelKey, added, “Our partnership with BWH Hotels reflects a shared commitment to innovation and long-term success. We’re focused on delivering a smooth transition and giving hotel teams the tools they need to thrive in an evolving industry.”

With the launch of AutoClerk Atlas, BWH Hotels not only reaffirms its dedication to investing in advanced technology but also actively strengthens its efforts to support growth, enhance guest satisfaction, and further streamline operations across its global network of nearly 4,300 hotels.

Kotak Mahindra Bank unveils BizLabs 2.0 to empower Indian startups

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October 11, 2025

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Kotak Mahindra Bank Ltd. has unveiled Season 2 of its Kotak BizLabs Accelerator Programme, expanding its flagship CSR initiative to support over 75 startups across India through mentorship, market access, and funding opportunities.

The year-long program, scheduled to run from October 2025 to November 2026, will actively collaborate with four leading incubators—IIT Delhi’s Foundation for Innovation and Technology Transfer (FITT), IIMA Ventures, NSRCEL–IIM Bangalore, and T-Hub. Through these strategic partnerships, the initiative will further strengthen its presence across North, South, West, and Central India, ensuring a more inclusive and regionally balanced startup outreach.

Himanshu Nivsarkar, Head of CSR & ESG at Kotak Mahindra Bank, said, “Kotak has always believed in backing the entrepreneurial spirit of India—not just in metros, but in Tier-II and Tier-III cities where innovation is thriving. With Season 2 of the Kotak BizLabs Accelerator Programme, we are scaling our commitment to founders who dare to dream big and build bold.”

This new phase follows a successful debut year, during which the program accelerated 55 startups, offered structured mentorship to emerging entrepreneurs, and distributed ₹5 crore in grants and selective seed funding to 32 ventures. According to Kotak Mahindra Bank, this catalytic capital has helped startups collectively raise over ₹12 crore in follow-on funding.

In the upcoming year, Kotak aims to engage more than 800 startups and fund over 60 ventures, with extensive outreach planned through 20+ cities via roadshows, networking sessions, and workshops.

Anand Sri Ganesh, CEO of NSRCEL, said, “By extending deep mentorship, market access, and catalytic funding to promising startups across diverse sectors, this initiative catalyzes transformative innovation in Tier-II and Tier-III cities.”

Echoing the sentiment, Chintan Bakshi, Partner at IIMA Ventures, stated that the program’s “intensive and structured support” equips founders in smaller cities with access to capital, bootcamps, and local angel investors—“startups leveraging tech to solve some of the toughest social and environmental challenges.”

During its first season, the accelerator supported startups across agritech, climate tech, fintech, edtech, healthcare, sustainability, and indigenous crafts, generating employment and attracting new investments. Season 2 aims to scale that impact by expanding outreach and investment scope.

Kavikrut, CEO of T-Hub, said, “Founders who are building with T-Hub have worked with mentors to refine their growth plans and deployed capital towards creating capabilities. The program has further validated their product–market fit. We are excited to scale this partnership with Kotak.”

Applications for Season 2 are now open to DPIIT-registered startups via the Kotak BizLabs portal.

Mahindra Lifespace to develop ₹3,500-Cr residential project in Pune

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October 11, 2025

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Real estate developer Mahindra Lifespace Developers Ltd has purchased a 13.46-acre land parcel in Pune to build a housing project valued at ₹3,500 crore.

In a regulatory filing on Friday, the company stated that it has acquired the land “in the premier neighbourhood of Nande-Mahalunge in Pune.”

A subsidiary of the Mahindra Group, the company did not reveal the seller’s identity or the transaction amount. However, it mentioned that the land offers a development potential of around ₹3,500 crore.

Additionally, on the same day, Mahindra Lifespace announced plans to redevelop four housing societies in Malad (West), Mumbai, with an expected revenue of ₹800 crore from the sale of free area in these projects.

The company added, “Spread across about 1.65 acre, the project offers a development potential of ₹800 crore.”

Currently, Mahindra Lifespace’s development portfolio covers 49.26 million square feet of completed, ongoing, and upcoming residential projects across seven cities in India. The company also manages over 5,000 acres of ongoing and planned projects within its integrated developments and industrial clusters across four locations.

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