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Radisson Hotel strengthens Mumbai footprint with Thane and Mira Bhayandar Hotels, targets emerging business hubs

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Radisson Hotel Group has announced the signing of two new properties—Radisson Hotel Mumbai Thane and Radisson Hotel Mumbai Mira Bhayandar—in partnership with real estate developer Vihang Group. Notably, this dual signing adds 217 keys and reinforces the Group’s strategy to expand across high-growth peripheral corridors within the Mumbai Metropolitan Region (MMR), where hospitality demand continues to move beyond traditional central business districts.

Furthermore, the Radisson Hotel Mumbai Mira Bhayandar project will come up at Vihang Ventura on Mira Bhayandar Road, a prominent commercial corridor with access to National Highway 48 and Mumbai’s western suburbs. Vihang Ahead is developing the project, positioning it as the first five-star hotel in the Mira Bhayandar micro-market.

Purvesh Pratap Sarnaik, Managing Director at Vihang Group, said, “Bringing the first five-star hotel to Mira Bhayandar is a milestone that was long overdue. As the region evolves with an upscale commercial and residential landscape, it deserves a global brand like RHG. By bringing Radisson to Vihang Ventura, we are creating a premier destination that blends business, retail, and hospitality. This project is a badge of pride for Vihang Ahead, setting a new lifestyle benchmark and putting Mira Bhayandar on the national hospitality map. We are here to transform this skyline, and this is just the beginning of much more to come.”

The Radisson Hotel Mumbai Mira Bhayandar will feature 103 rooms, thereby catering to rising hospitality demand in emerging business corridors. Additionally, the property will include all-day dining and specialty restaurants, a bar, banquet and meeting facilities with pre-function areas, and amenities such as a gym and swimming pool. As a result, the hotel will support MICE, corporate, and social event requirements while introducing an internationally branded hospitality experience to the micro-market.

Moreover, the Mira Road location will benefit from upcoming metro connectivity, which will significantly enhance accessibility to the broader city. Consequently, Mira Bhayandar continues to evolve as a key micro-market within the MMR, supported by infrastructure upgrades and increasing commercial activity.

Sarnaik said, “Vihang Group’s partnership with Radisson Hotel Group is a testament to our unwavering commitment to the growth story of the Mumbai Metropolitan Region. For decades, we have committed ourselves to elevating the region’s infrastructure and standard of living. We are not just building hotels; we are bringing the best of living standards to the region. This venture is a significant milestone in the region’s transformation into a hub of national, maybe international, excellence, ensuring that our residents and visitors experience the very pinnacle of global hospitality.”

At the same time, Nikhil Sharma, Managing Director and COO, South Asia, Radisson Hotel Group emphasised the Group’s expansion strategy, stating, “As we continue to strengthen our presence across metro cities in India, a key focus for us is identifying and expanding into emerging business corridors that are witnessing increasing commercial activity and infrastructure development. These signings align with that strategy, allowing us to deepen our footprint within high-growth urban clusters and cater to evolving demand from business and MICE segments. By building scale in such locations, we are well positioned to address the next phase of urban expansion in India’s leading cities.”

Meanwhile, Thane and Mira-Bhayandar have emerged as key business corridors within the Mumbai Metropolitan Region, driven by infrastructure growth, commercial development, and increasing corporate presence, particularly from the IT and BFSI sectors. Consequently, demand for quality hospitality infrastructure has risen steadily in these locations.

With this development, Radisson Hotel Group, along with Vihang Group and Vihang Ahead, has further strengthened its presence in the Mumbai region. Currently, the Group operates four hotels in the city and has three additional properties in the pipeline, thereby reinforcing its expansion trajectory in India’s hospitality sector.

Davashish Srivastava, Senior Director Development, Radisson Hotel Group, said, “Tier 1 cities are strategic to our growth through high-yield assets and identification of high-potential micromarkets within metros, where improving connectivity and commercial momentum are driving new demand centres. Both properties are part of mixed-use developments, which allow us to integrate hospitality within larger commercial and retail ecosystems, enhancing asset value and ensuring sustained demand. By securing well-located projects in Thane and Mira Bhayandar, we are able to create a strategic cluster within the region while delivering long-term value for our partners through demand-led, location-driven growth.”

In terms of capacity, Radisson Hotel Mumbai Thane will offer 114 rooms, while Radisson Hotel Mumbai Mira Bhayandar will provide 103 rooms, collectively addressing the growing need for premium hospitality in emerging business hubs. Notably, the Mira Bhayandar property will introduce an internationally branded hotel to the area, thereby enhancing its positioning within the regional hospitality landscape.

Strategically, Radisson Hotel Mumbai Thane will be located along Pokhran Road, close to key office developments and retail hubs, with connectivity through National Highway 48 and access to Thane Railway Station, Chhatrapati Shivaji Maharaj International Airport, and Navi Mumbai International Airport. Similarly, Radisson Hotel Mumbai Mira Bhayandar will benefit from its location on Mira Bhayandar Road, offering seamless connectivity to Mumbai’s western suburbs and future metro links.

Radisson Hotel Group’s dual signing in Thane and Mira Bhayandar reflects a strategic push to capture demand in emerging urban corridors within metro cities. Backed by strong partnerships, infrastructure growth, and rising corporate activity, these developments position the Group to capitalise on India’s expanding hospitality market while delivering long-term value through location-driven and demand-led growth.

Tourism sector’s contribution to GDP set to double from 5.22% to 10% in 10 years: Additional Secretary, Ministry of Tourism

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Jaipur, April 28: Backed by strong infrastructure growth, ever-expanding aviation and rail networks, and rising demand, the Government is confident of increasing the tourism sector’s contribution to GDP to 10% in the next years from 5.22% currently, said Mr. Suman Billa, Additional Secretary and Director General, Ministry of Tourism, Government of India, while addressing the inaugural session of the 15th Edition of The Great Indian Travel Bazaar (GITB).

“A few months ago, the honorable Prime Minister laid out the ambition for India’s tourism very clearly—the sector’s contribution to the GDP must double from 5.22% to 10% within the next 10 years. For us, that is the target, that is the goal, and we need to ensure that we achieve that goal,” said Mr. Suman Billa while adding that India is witnessing rapid infrastructure development.

“Since 2014, the number of airports in the country has doubled from 75 to 150. Our rail network has also increased tremendously. Trains like Vande Bharat are fast, convenient, safe, and secure and are great enablers for tourism. Our road network has expanded many times, and our aircraft capacity is growing rapidly, and the fleet is likely to reach about 1600 aircraft by the year 2030 from about 800. These are strong enablers for tourism,” the Additional Secretary said.

Throwing light on the progress the tourism sector has made in the last few years, Mr. Suman Billa said, “Our domestic market has been exploding. In 2019, we had 1.5 billion domestic tourist visits. That number, ladies and gentlemen, in 2025 has crossed the 4 billion mark. That’s almost a threefold increase in a decade. Our international tourist arrivals were about 10 million in 2014 and have grown to 20 million today. The foreign exchange that we earn through tourism stands at $32 billion today, which reflects what India is doing, but considering the potential that tourism holds for a country like India with astonishing cultural depth, diversity, and length & breadth of the country, I think we are still hugely under-leveraged, and hence, a 10% target is reasonable.”

Mr. Billa, who is the Director General of the Ministry of Tourism, also called up various stakeholders to double the hotel capacity and build destinations at scale and with exceptional standards so that we are able to compete with the best global destinations. By doing so, he maintained that the country will be able to retain its outbound travelers and will be able to attract the high-paying and the conscious travelers.

Ennismore brings The Hoxton to India with Bengaluru debut

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Lifestyle hospitality company Ennismore, in partnership with Accor India and InterGlobe Hotels, has announced the signing of The Hoxton Bengaluru City, marking the brand’s first hotel in India. The company plans to open the property in November 2026 on Richmond Road, thereby bringing The Hoxton’s signature open-house lobby concept and neighborhood-driven hospitality experience to one of India’s most dynamic urban hubs.

Located in the heart of Bengaluru, the hotel will feature 149 guestrooms, including signature categories such as Roomy, Biggy, and four HOMEY suites. Notably, the suites will occupy the top two floors, span 55 square meters, and offer expansive views of the city skyline. The design will reflect The Hoxton’s signature blend of craftsmanship and local aesthetics while maintaining a residential, functional style that prioritizes comfort and practicality.

Moreover, food and beverage will play a central role in shaping the guest experience. The ground-floor lobby restaurant and bar will serve as a social hub throughout the day, thereby aligning with The Hoxton’s philosophy of creating spaces that function as a neighborhood living room. Guests and locals alike will be able to use the space for breakfasts, informal meetings, and extended dining experiences.

In addition, the rooftop will host Fi’lia, the acclaimed Italian dining concept, which will mark its second presence in India. Positioned as a poolside restaurant and bar, Fi’lia will offer a vibrant atmosphere for long lunches, sunset gatherings, and evening dining, while overlooking Bengaluru’s skyline.

The property will also introduce “The Apartment,” a dedicated meetings and events concept comprising a central pantry and two meeting rooms, designed for intimate gatherings. Furthermore, a larger events space with pre-function and function rooms will accommodate events of up to 240 guests, thereby catering to both corporate and social occasions.

Importantly, The Hoxton Bengaluru City will collaborate with local brands and creative talent across art, fashion, music, literature, and food. Through curated programming such as guest chef takeovers, the rotating Hox Gallery, and retail experiences at the Hox Shop, the hotel aims to embed itself deeply within Bengaluru’s cultural ecosystem from day one.

Bengaluru’s strong entrepreneurial ecosystem, creative community, and cultural vibrancy make it a strategic entry point for the brand. Widely recognized as India’s innovation capital, the city offers a unique blend of global outlook and local identity, which aligns closely with The Hoxton’s community-centric philosophy.

Gaurav Bhushan, Group CEO of Ennismore and Chairman of Accor India, said, “India is one of the most exciting hospitality markets in the world right now. The market is ready for a true lifestyle experience, and our approach is simple: build brands that resonate with Indian guests first while maintaining the same global DNA our brands are known for. We are excited that Ennismore will make its debut in India this year, with the hotly anticipated openings of Roswyn Mumbai, a Morgans Originals hotel, and a growing pipeline that includes Delano and Mama Shelter. It has long been our ambition to bring The Hoxton to India, and Bengaluru—with its vibrant cultural scene—feels like the natural first stop to call home.”

Aditya Pande, Group Chief Executive Officer, InterGlobe Enterprises, said, “The entry of The Hoxton into India marks a defining moment in our journey to bring world-class, lifestyle-led hospitality to the country. Bengaluru, with its creative energy and global outlook, is the ideal city for the brand. This signing further strengthens our long partnership with Accor and Ennismore as we work together to meet the evolving needs of the Indian market, where guests are increasingly seeking authentic, design-forward experiences. We are confident that The Hoxton, Bengaluru will resonate deeply with both locals and travelers, setting a new standard for urban hospitality in the country.”

The Hoxton brand launched in 2006 with its first hotel in London’s Shoreditch neighborhood and later joined Ennismore in 2011, when Sharan Pasricha reimagined the brand and accelerated its global expansion. Today, the brand operates 19 properties across the UK, Europe, and the US, while continuing to expand into key international cities such as Melbourne, Oslo, Nashville, and Mexico City.

Additionally, Accor and InterGlobe strengthened their strategic alliance last year to build one of India’s fastest-growing hospitality platforms. Through this partnership, the companies aim to create a network of 300 hotels under Accor and Ennismore brands by 2030, thereby capitalizing on India’s rapidly expanding hospitality market.

With its community-driven approach, strong local integration, and premium positioning, The Hoxton is set to redefine urban hospitality experiences in India while contributing to the evolution of the country’s travel and tourism ecosystem.

Embassy Office Parks REIT distributes ₹616-Cr in Q4, plans ₹9,000-Cr debt raise

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Amit Shetty, Chief Executive Officer of Embassy REIT

Realty firm Embassy Office Parks REIT announced a distribution of ₹616 crore to unitholders for the March quarter, thereby taking the total distribution to ₹2,396 crore for the full fiscal year.

In a regulatory filing, the company stated that it plans to raise up to ₹9,000 crore in debt to support its financial strategy and growth initiatives. Meanwhile, Embassy REIT leased 6.4 million square feet during FY26 across 86 deals, including 4 million square feet of new leasing, 1.5 million square feet of renewals, and 0.9 million square feet of pre-leases, highlighting strong demand in the commercial real estate sector.

Furthermore, during the last fiscal year, Embassy REIT reported a 13% year-on-year (YoY) increase in revenue from operations to ₹4,582 crore, while net operating income (NOI) grew 15% to ₹3,760 crore, reflecting robust operational performance.

Amit Shetty, Chief Executive Officer of Embassy REIT, said, “FY26 was another exceptional year for Embassy REIT. We delivered 6.4 million sq ft of leasing and double-digit growth across revenue, NOI, and distributions, driven by strong GCC-led demand, with Chennai emerging as a key growth driver.”

Additionally, the company delivered a record 3.3 million square feet of new office space, scaled its redevelopment initiatives, and strengthened its balance sheet through efficient capital-raising strategies.

“We are guiding for double-digit growth in both distributions and NOI again in FY27 and remain well-positioned to deliver sustained long-term value for our unitholders,” Shetty said.

Moreover, the company’s board approved a proposal to raise debt of up to ₹9,000 crore through various permissible modes, including refinancing existing debt, in accordance with applicable regulations.

Embassy REIT currently owns and operates a portfolio of over 50 million square feet of office space across major Indian cities, including Bengaluru, Mumbai, Pune, the National Capital Region, and Chennai, thereby reinforcing its position as one of India’s leading commercial real estate investment platforms.

Embassy REIT’s strong FY26 performance, consistent distributions, and strategic debt plans underscore its growth trajectory and resilience in India’s commercial real estate market. Backed by sustained leasing demand and expansion across key metro cities, the company remains well-positioned to deliver long-term value for investors and stakeholders.

Peak XV Partners exits MobiKwik with ₹130-Cr block deal, earns 3x returns

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Venture capital firm Peak XV Partners has fully exited fintech firm One MobiKwik Systems through a block deal worth over ₹130 crore, according to sources familiar with the development.

Notably, Peak XV, which backed the company as an early investor, achieved approximately three times return on its investment, highlighting a successful exit in India’s fintech ecosystem.

“Peak XV Partners has sold around 61 lakh shares, about 7.7% of the company share capital, at an average sale price of Rs 214 per share. The total deal size is close to Rs 130 crore. With this sale, Peak XV has completely exited from the firm,” a source said.

Meanwhile, institutional investors including Florintree Advisors, Viridian Asset Management, Dymon Asia, and Karma Capital have acquired stakes from Peak XV, thereby strengthening their presence in the fintech companies.

Importantly, this development follows closely after MobiKwik announced that the Reserve Bank of India granted a Non-Banking Financial Company (NBFC) license to its subsidiary, MobiKwik Financial Services Pvt Ltd. This regulatory approval is expected to enhance the company’s lending and financial services capabilities.

Consequently, the timing of the exit aligns with a significant milestone for MobiKwik, as it continues to expand its fintech offerings and strengthen its regulatory position in India’s competitive digital payments and lending market.

Peak XV Partners’ complete exit from MobiKwik underscores strong investor returns in the fintech sector, while the entry of new institutional investors and the NBFC license approval signal continued growth potential for the company in India’s evolving financial services landscape.

Proptech startup FraX crosses ₹1-Cr GMV in two months, targets ₹400-Cr by FY27 in digital real estate investment

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Gurugram-based proptech startup FraX has crossed ₹1 crore in gross merchandise value (GMV) within just two months of launch, as it accelerates growth of its digital real estate investment platform and targets ₹400 crore in GMV by FY27.

Traditionally, real estate has remained one of India’s most preferred long-term wealth creation avenues; however, high entry costs, legal complexities, paperwork-heavy transactions, and liquidity constraints have limited access for retail investors. Consequently, direct participation in premium residential real estate has required investments running into several lakhs or more, thereby restricting access primarily to affluent buyers.

To address these challenges, IIT BHU alumni Prabhav Tanay and Tushar Chaudhary founded FraX, enabling users to invest in premium residential real estate with minimum investments starting at ₹10,000. Through this approach, the company lowers entry barriers and democratizes access to high-value assets.

Moreover, the platform provides curated access to residential inventory from leading developers such as DLF and Max Estate, allowing users to invest through fractional ownership instead of purchasing entire properties. As a result, FraX aligns with the evolving preferences of modern investors seeking flexible and digital-first investment solutions.

FraX states that while demand for premium real estate remains consistently strong, the way investors access this asset class is changing rapidly. In particular, younger investors increasingly prefer low-ticket, tech-enabled, and flexible investment options, similar to their experiences with equities, mutual funds, and other financial instruments.

According to the company, investor demand has been strongest for branded and institutional-grade developers, indicating a clear preference for curated exposure to trusted real estate opportunities rather than generic property listings. Developers such as DLF and Max Estate continue to attract strong investor confidence due to their proven track record, brand credibility, and long-term appreciation potential.

FraX has recorded over 10,000 app downloads and maintains an average rating of 4.8 across the App Store and Play Store, reflecting strong early traction. Additionally, 80% of its users are below the age of 35, while 23% have reinvested within the first month, signaling high engagement and repeat investment behavior.

Furthermore, 20% of investors have allocated capital to cities outside their place of residence, suggesting that users increasingly view real estate as a portfolio diversification tool rather than solely a homeownership decision.

The platform enables users to buy and sell holdings digitally, with liquidity supported through buyer-matching mechanisms. As a result, FraX improves flexibility in an asset class traditionally associated with long holding periods and slow exits. The company states that it processes sale requests digitally and completes settlements within two working days after matching buyers.

To enhance user experience, FraX assigns each investor a dedicated investment manager who assists with onboarding and portfolio-related queries. Additionally, the company routes investor funds through escrow structures maintained with ICICI Bank under trustee supervision, thereby ensuring financial security and compliance.

Each property operates under a dedicated special purpose vehicle (SPV), with investor ownership linked to equity in the underlying legal entity. FraX states that investors can independently verify ownership through the government’s MCA portal, thereby reinforcing transparency.

The platform also conducts DigiLocker-based KYC verification for all users while maintaining exclusive verified owner groups for each listed property to improve communication and transparency among co-owners. Furthermore, FraX ensures that all properties undergo rigorous legal, financial, and title due diligence before listing on the platform.

The broader team brings experience from organisations such as PayU, Blinkit, Airtel, CultFit, hBits, and Limeroad, thereby strengthening the company’s operational and technological capabilities.

“Our view is that demand for premium real estate remains very strong, but the format through which investors want to access the asset class is changing rapidly,” said Tushar Chaudhary, co-founder of FraX. “We believe the next phase of investing will involve making historically exclusive asset classes more accessible, flexible, and digital for retail investors.”

Industry estimates indicate that India’s fractional ownership market will grow significantly in the coming years, as investors increasingly seek diversified exposure to alternative and low-ticket investment opportunities.

FraX’s rapid early traction and ambitious GMV target highlight a broader shift in India’s proptech and investment landscape. By combining fractional ownership, digital access, and institutional-grade real estate opportunities, the startup aims to redefine how younger investors participate in premium real estate while driving greater accessibility, liquidity, and transparency in the sector.

Kovon raises $250K led by TDV Partners to unlock global opportunities for India’s frontline workforce

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Bibartan Roy and Swayamjeet Das, Co-founders, Kovon

The startup aims to connect India’s skilled blue- and grey-collar workforce to global job opportunities through an end-to-end skilling, financing, and placement platform.

National, 28th April 2026: Kovon, a cross-border workforce mobility platform, has raised $250,000 in a pre-seed funding round led by TDV Partners. Founded by Bibartan Roy and Swayamjeet Das, Kovon is building a trusted platform for blue and grey-collar workers across industries such as healthcare, hospitality, construction, and logistics, connecting skilled Indian talent to international job opportunities.

The platform acts as an infrastructure layer across the entire journey, from job discovery and upskilling to financing and placement, while addressing critical gaps across skilling, financing, and deployment. As developed economies across Europe, the UK, and the Middle East face persistent labour shortages, the demand for skilled workers globally continues to rise. Kovon aims to make these opportunities more accessible, reliable, and structured for Indian workers while helping international employers meet talent shortages.

The fresh capital will be deployed towards product and platform development, strengthening employer partnerships globally, expanding candidate acquisition, and building out the skilling and training ecosystem. The company also plans to hire across technology, operations, and partnerships.

According to EY’s report Reaping the Demographic Dividend: India at 100, India is expected to have one of the largest working-age populations globally by 2030. Every year millions of people in India migrate in search of employment, especially from Tier 2 & 3 cities to metropolitan markets. At the same time, a severe skilled labour shortage in developed countries, driven by ageing populations and declining workforce participation, presents a significant opportunity for India to emerge as a global supplier of skilled talent.

Bibartan Roy, co-founder and CEO of Kovon.io, said, “We witnessed the fragmentation in global talent mobility, particularly in the blue-collar segment, firsthand through our experience across education, skilling, fintech, and workforce supply chains. While global demand is surging, the supply chain remains broken at multiple levels, driving exploitation, eroding trust, and failing both talent and employers. At Kovon, we are bridging this demand-supply divide by embedding financial access, discovery, opportunity, and trust into a single, seamless platform.”

As per the OECD’s International Migration Outlook 2025, 2.25 lakh Indians gained nationality in OECD countries in 2023, with Canada, the United States, and Australia as key destinations. India remains one of the world’s largest recipients of remittances, with inflows reaching USD 135.4 billion in FY25, underlining the significant contribution of Indians working abroad to household incomes and local economies.

Piyush Goyal, India’s Minister of Commerce and Industry, has also encouraged Indian businesses and workers to tap into global demand, describing it as a potential “game-changer” for the country’s economic growth. Referring to the Australian housing crisis, he highlighted the multi-billion dollar opportunity and urged Indian startups and enterprises to actively participate.

Commenting on the announcement, Ujwal Sutaria, Founder and General Partner at TDV Partners, said, “The blue-collar and grey-collar workforce mobility segment presents a significant opportunity, given the scale of the Indian workforce. Kovon is building in a structurally growing space with a transparent, efficient, and tech-first approach. While automation continues to evolve, these roles remain far from being replaced. Much like Indians have gone on to lead global organisations at the white-collar level, we believe similar pathways will emerge for blue-collar workers on the global stage.”

Despite strong global demand for talent, the system remains fragmented and largely unorganised, with limited infrastructure for skill certification, compliance, and globally aligned placements. As a result, what should be a clear pathway to opportunity often becomes uncertain and uneven.

Compliance with local labour regulations and ethical recruitment practices continues to be a significant challenge. Under the guise of facilitating work visas, many job aspirants fall prey to fraudulent operators, often losing substantial sums of money. In some cases, individuals also find themselves stranded in foreign countries without adequate employer support, highlighting the need for more transparent and reliable pathways.

Kovon is being built to change this. It aims to build trust and create a transparent, end-to-end ecosystem for cross-border workforce mobility, covering discovery, verification, placement, and post-deployment support. The platform brings together job discovery, candidate verification, upskilling, financing, placement, and post-deployment support into one ecosystem, reducing friction and helping workers and employers connect with greater confidence. With the advent of AI tech, which they plan to build, these workflows become much easier and smoother than what they used to be previously. For families seeking stable income opportunities, it aims to replace uncertainty with trust and access.

With India as its talent base, Kovon is focused on building skilled, verified, job-ready pipelines for labour-deficient markets across the Middle East, Europe, the UK, and beyond.

About Kovon

Kovon is a cross-border workforce mobility platform connecting skilled Indian talent to international job opportunities. Founded in 2025 by Bibartan Roy and Swayamjeet Das, the company focuses on enabling global employment access for India’s blue- and grey-collar workforce across sectors such as healthcare, hospitality, construction, and logistics.

Kovon addresses a key gap in global labour markets, where workforce shortages in developed economies coexist with limited access to opportunities for Indians’ frontline talent. Through an end-to-end platform spanning job discovery, upskilling, financing, and placement, Kovon creates a structured and reliable pathway for global talent mobility.

Visit: https://www.kovon.io/

Home services platform Snabbit secures $56M to scale operations, enter new categories and boost growth

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Aayush Agarwal, Founder & CEO, Snabbit

Home services platform Snabbit has raised $56 million (about ₹530 crore) in a Series D funding round, as Susquehanna Venture Capital, Mirae Asset Venture Investments’ Unicorn Growth Fund, and Bertelsmann India Investments co-led the investment, the company said on Tuesday. Additionally, existing investors Nexus Venture Partners and Lightspeed participated in the round, strengthening investor confidence in the fast-growing home services marketplace.

Furthermore, Snabbit Founder and CEO Aayush Agarwal said that the company will utilize the funds to strengthen its balance sheet while preparing to expand services across micro-markets and enter new categories in the near future.

“We have raised $56 million in Series D round funding, led by SIG, along with Mirae and Bertelsmann. We already have strong investors like Lightspeed, Elevation, and Nexus. Bertelsmann, which led our previous round, is doubling down significantly,” Agarwal said.

Moreover, global marketplace investor FJ Labs joined the funding round as a new investor, thereby further diversifying Snabbit’s investor base. With this latest infusion, the company has raised a total of $112 million to date, reinforcing its position in India’s rapidly growing home services sector.

“There is strong investor backing, but also greater responsibility to build what we believe can be a generational company that changes how Indian households operate. This round gives us more than three years of runway. That includes total capital, not just the raised capital,” Agarwal said.

At present, Snabbit claims to have over 10 million monthly active users, which drive category-leading throughput of 40,000 jobs per day from a limited operational footprint. Consequently, the company demonstrates strong utilization rates, repeat demand, and operational efficiency rather than relying solely on surface-level expansion.

Currently, Snabbit operates in three major cities—Delhi NCR, Bangalore, and Mumbai—while maintaining a smaller presence in Hyderabad and Pune. Looking ahead, the company plans to establish a significant presence in at least the top 10 metro cities in India within the next 12 months.

“We currently live in three major cities—Delhi NCR, Bangalore, and Mumbai—with a smaller presence in Hyderabad and Pune. Over the next 12 months, we aim to have a significant presence in at least the top 10 metro cities in India,” Agarwal said.

In addition, Snabbit plans to expand into new service categories, including home cooks, childcare, elderly care, and driver services, thereby broadening its offerings in the home services marketplace.

“Right now, I’m particularly excited about home cooks. We have run a successful pilot and are now scaling it, starting with Bangalore. The idea is simple, home-cooked meals by trained experts (not chefs), like how we approached home cleaning as an unsolved problem,” Agarwal said.

Meanwhile, Agarwal emphasized that the company will prioritize scaling operations, expanding across categories, and improving unit economics in the near term.

“Today, for every 1 mature micro market, there are 7-8 new micro markets being built, which means investments are currently outweighing returns. It will take some time for this equation to turn, as we want to clearly prove the economics of the business and then sustain it over a long period. Alongside this, the priority is to build a high-quality, world-class organization and team that can support continued scale,” Agarwal said.

Snabbit’s $56 million funding round highlights strong investor confidence in India’s home services market while positioning the company for aggressive expansion, category diversification, and long-term sustainable growth. As demand for digital home services platforms rises, Snabbit aims to redefine how Indian households access essential services, thereby strengthening its foothold in the competitive startup ecosystem.

Insurtech unicorn Acko plans $250 Million fundraise at up to $2.5 Billion valuation

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Varun Dua, Founder and CEO, Acko

New-age insurance company Acko is preparing to make a confidential filing for its initial public offering (IPO), aiming to raise around $250 million, according to people familiar with the matter. The upcoming IPO could value the Bengaluru-based insurtech firm at approximately $2–$2.5 billion, reflecting sustained investor confidence in India’s digital insurance and fintech ecosystem.

To move forward with the public issue, Acko has appointed Morgan Stanley, Kotak Securities, and ICICI Securities as book-running lead managers. Furthermore, the company plans to file its draft red herring prospectus (DRHP) before the end of June, thereby advancing its listing timeline in India’s capital markets.

Acko operates as a direct-to-consumer (D2C) digital insurer, offering general, health, and life insurance products while eliminating traditional agents and intermediaries. This model enables cost efficiency, faster policy issuance, and improved customer experience. The company was founded by Varun Dua, who previously built insurance distribution platform Coverfox. Acko secured its regulatory licence in 2017 and subsequently launched operations in 2018, positioning itself as a key player in India’s insurtech space.

Moreover, Acko has attracted strong backing from global and domestic investors, including General Atlantic, Multiples PE, Accel Partners, Elevation Capital, and Canada Pension Plan Investment Board. Collectively, these investors have infused over $583 million into the company, underscoring its growth potential and market relevance.

From an operational standpoint, Acko has demonstrated strong traction across key insurance segments. In FY26, the company underwrote motor insurance premiums worth Rs 1,186 crore and health insurance premiums of Rs 1,235 crore, highlighting its expanding footprint in India’s insurance market.

Financially, the company has shown steady progress toward profitability. In FY25, Acko reported total revenue of Rs 2,887 crore and a net loss of Rs 424 crore, as per filings with the Ministry of Corporate Affairs. However, it significantly reduced its losses from Rs 670 crore in FY24, indicating improved cost efficiencies and scaling of its business model.

As the company moves closer to public markets, its performance will likely serve as a benchmark for other fintech and insurance startups considering listings. If successful, the IPO could further strengthen investor sentiment toward technology-driven financial services and accelerate innovation in India’s insurance landscape.

RBS acquires AI-powered platform Zeko to strengthen guest experience and revenue management in hospitality

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RBS has announced the acquisition of Zeko, an AI-powered guest engagement platform specifically designed for the hotel and hospitality industry. Through this strategic move, RBS aims to enhance its technology stack and accelerate innovation in hospitality management, guest experience, and revenue optimization.

With this acquisition, RBS expands its guest experience capabilities as it continues to build a unified digital platform that streamlines operations and supports advanced revenue management across hospitality environments. As competition intensifies in the hospitality sector, technology-driven solutions like AI-powered engagement platforms are becoming essential for improving efficiency and boosting profitability.

Zeko’s platform automates the entire guest journey, starting from pre-arrival and continuing through checkout. It integrates AI-powered upselling, WhatsApp automation, digital check-in, and real-time concierge services into a single, easy-to-deploy layer that works seamlessly with existing property management systems. Moreover, leading hotel brands and properties trust Zeko and have reported revenue increases of up to 20% by leveraging smarter guest engagement strategies and ancillary sales opportunities.

Furthermore, by integrating Zeko’s advanced capabilities, RBS strengthens its ability to deliver intelligent, guest-facing tools that enhance operational efficiency. This integration will help hospitality businesses drive ancillary revenue, reduce staff workload, and create consistent, personalised guest experiences across hotels, resorts, ranches, lodges, outfitters, restaurants, food and beverage operations, and retail environments.

“The guest experience is where hospitality businesses win or lose,” said Glenn Turner, CEO of RBS. “Zeko gives operators a proven, intelligent layer that engages guests at every touchpoint, from the moment they book to the moment they check out. Adding that capability to the RBS platform is a meaningful step forward for the operators we serve.”

“Joining forces with RBS enables us to scale our guest engagement platform across thousands of properties globally,” said Manit Deep Prashar, Founder & CEO of Zeko. “Zeko was built to close the gap between rising guest expectations and operational complexity in hotels. Together, we are extending that capability worldwide—enabling operators to automate routine workflows, unlock new revenue streams, and deliver seamless guest experiences that keep them coming back.”

As hotels increasingly adopt digital transformation and automation tools, this deal will likely accelerate innovation, improve customer satisfaction, and unlock new revenue streams across the global hospitality industry.

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