Thursday, August 6, 2026
Home Blog Page 132

Lenskart secures SEBI approval for ₹8,000-Cr IPO, eyes November debut

By
BRL Editor
-
0
Peyush Bansal, Co-founder and Chief Executive Officer of Lenskart

Eyewear retailer Lenskart has secured approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO), according to people familiar with the matter. With this clearance, the company will file its updated prospectus in the coming weeks and is now targeting a mid-November listing, one of the sources revealed.

Earlier in July, Lenskart had filed its draft red herring prospectus with SEBI. Through the issue, the company plans to raise ₹2,150 crore in fresh capital. In addition to the primary portion, existing shareholders—including founders Peyush Bansal, Neha Bansal, Sumeet Kapahi, and Amit Chaudhary, along with investors such as SoftBank, Premji Invest, Temasek, Kedaara Capital, and Alpha Wave Global—will collectively sell 132.3 million shares via the offer-for-sale (OFS) component.

Consequently, when combined with secondary sales, the total IPO size is expected to reach ₹7,500–8,000 crore ($850–900 million), as reported earlier. This would make it one of the largest public offerings of the year, following the listings of Tata Capital and LG Electronics.

To facilitate the process, Kotak Mahindra, Morgan Stanley, Citi, Avendus Capital, and Intensive Fiscal Services are serving as merchant bankers for the IPO.

Furthermore, the Gurugram-based company’s public issue marks the largest among several new-age firms preparing IPOs this year. While Groww, Meesho, PhonePe, and PhysicsWallah are also lining up sizable listings, unlike Lenskart, these companies have opted for SEBI’s confidential filing process.

Financially, Lenskart turned profitable in FY25, recording a net profit of ₹297 crore compared with a net loss of ₹10 crore in FY24. At the same time, its revenue rose 22% to ₹6,625 crore from ₹5,428 crore in the previous year. Notably, the company also won the Startup of the Year award at the ET Startup Awards 2024.

In terms of fund allocation, Lenskart plans to use about ₹272 crore of fresh capital to establish new stores in India, while ₹591 crore will go toward leasing, rentals, and other expenses for its existing 2,700-plus stores. Additionally, the company has earmarked an undisclosed portion of proceeds for acquisitions, signaling its intent to expand aggressively.

Atmosphere Core strengthens presence with Hyderabad opening

By
BRL Editor
-
0
Salil Panigrahi, Co-Founder and Group Managing Director of Atmosphere Core

Atmosphere Core is bringing its globally acclaimed design-driven ethos to India, choosing Hyderabad as a key cultural anchor. The hospitality group, renowned for THE OZEN COLLECTION, Atmosphere Hotels & Resorts, and COLOURS OF OBLU in the Maldives, has set new standards through immersive all-inclusive concepts, sustainable practices, and experiential design. With its entry into India, the company aims to redefine leisure tourism by creating destinations that celebrate local culture while delivering world-class experiences.

“Hyderabad is a city where history, architecture, cuisine, and culture come together beautifully. It reflects the very ethos we want to bring to India—escapes that are authentic, design-driven, and emotionally resonant,” said Salil Panigrahi, Co-Founder and Group Managing Director of Atmosphere Core.

The expansion embodies Panigrahi’s philosophy that hospitality is a soulful craft, combining design innovation, sustainability, and cultural immersion. Atmosphere Core will design each of its properties in India as a distinctive expression of its locale, blending heritage, aesthetics, and modern functionality.

Moreover, guests can look forward to Maldives-inspired all-inclusive offerings, including wellness retreats, culinary experiences, and curated cultural activities. At the same time, sustainability will remain a core focus, with eco-sensitive architecture, renewable energy integration, and waste reduction initiatives incorporated into every project.

For Atmosphere Core, the Hyderabad launch represents more than just market expansion—it marks the start of a cultural movement in Indian hospitality. By establishing Hyderabad as a showcase city, Panigrahi is setting the stage for Atmosphere Core’s broader vision: creating leisure destinations across India that resonate with the country’s evolving aspirations in travel, design, and sustainability.

Zaggle to raise Rs 60-Cr in funding from Times Group and Promoter Group Entity

By
BRL Editor
-
0
Dr. Raj Narayanam, founder & executive chairman, Zaggle

Fintech SaaS company Zaggle Datalabs will raise INR 59.99 crore through a preferential allotment of warrants, building on the INR 595 crore it raised in its maiden QIP last December.

In an exchange filing, the company stated that it will issue 10.58 lakh warrants at INR 567 each to promoter group entity RAN Ventures Pvt Ltd and non-promoter company Bennett Coleman and Company Ltd (Times Group).

Zaggle has not disclosed the specific use of the newly raised funds, but the company has been actively pursuing acquisitions. Most recently, it announced plans to acquire golf-centric rewards platform Greenedge for INR 25 crore.

In a separate move, Zaggle revealed that it has agreed to extend a loan of INR 15 crore to Dice Enterprises for working capital needs. The loan will be provided over a 12-month period at an interest rate of 12% per annum, in one or more tranches, and is repayable on demand.

Earlier in June, Zaggle acquired enterprise spend management startup Dice Enterprises for INR 123 crore, stating that the deal will strengthen its product portfolio, provide access to Dice’s customer base, and help scale operations in India and globally.

Additionally, the company has entered agreements to acquire UPI payments startup Rio.Money and increase stakes in Effiasoft and Mobileware Technologies this year.

Zaggle’s acquisition momentum was fueled by its maiden QIP completed in December, which supported its growth targets. The company aims to achieve a gross revenue of INR 2,000 crore in FY26, along with a net profit of INR 200 crore through these acquisitions.

For the first quarter of FY26, Zaggle’s consolidated net profit jumped 56% to INR 26.1 crore from INR 16.7 crore in the same period last year, while its revenue grew 32% YoY to INR 252.2 crore.

Luxury watch retailer Art of Time raises 175-Cr in funding

By
BRL Editor
-
0
Gaurav Bhatia and Bharat Kapoor, Co-Founders, Art of Time

Omnichannel luxury watch retailer Art of Time has raised Rs 175 crore in a fresh funding round backed by existing investors — CaratLane founder Mithun Sacheti, Jaipur Gems CEO Siddhartha Sacheti, Freshworks founder Girish Mathrubootham, and Plutus Wealth Management.

Investors contributed 70% of the total round as primary capital infusion and raised the remainder through a secondary share sale.

The company intends to use the capital to expand its retail network, launch new categories, hire talent, and strengthen technology and inventory. Moreover, since its inception, Art of Time has secured Rs 200 crore in total funding. Founded in 2015 by Gaurav Bhatia and Bharat Kapoor, the Mumbai-based retailer has also collaborated with nearly 20 brands, including Cartier, Montblanc, Piaget, and Jaeger-LeCoultre.

“Every other brand is looking at India very strongly. They see the potential here and believe they can be the next big thing in the luxury space,” said Bhatia.

Currently, the company operates 14 boutiques across five cities — including Mumbai, Bengaluru, and Chennai — through a mix of multi-brand outlets and exclusive brand stores. “We have three more stores in the pipeline in this fiscal year—one opening soon in Hyderabad; Circa, our new multi-brand concept in Noida this month, and a monobrand boutique in Ahmedabad,” he added.

Bhatia noted that the retailer’s primary customer base comprises individuals earning over Rs 500,000 per month. Meanwhile, with Circa positioned in the bridge-to-luxury category, Art of Time plans to target consumers in the Rs 50,000 to Rs 4 lakh income range.

“Even among women, there has been a significant shift from jewellery to watches. This has actually increased our share of purchases among women, balancing the ratio of men’s and women’s purchases over the years,” he said.

Analysts project that the Indian luxury watch market, currently valued at $1.6 billion, will grow to over $2.8 billion by 2033.

At present, Art of Time generates around 85% of its revenue from offline stores, while online sales contribute the remaining share. Looking ahead, the company plans to increase its online revenue to 30% over the next two years.

Commenting on the investment, CaratLane’s Sacheti said, “Art of Time has unlocked network effects in a high value category that has long been underserved in India.”

Uber acquires YC-backed Belgian startup Segments.ai to boost self-driving tech

By
BRL Editor
-
0
L-R: Bert De Brabandere & Otto Debals, co-founders, Segments.ai

Uber has confirmed the acquisition of Segments.ai, a Belgian startup that develops multi-sensor labeling tools for self-driving cars, drones, trucks, and autonomous robots.

The news was first shared by Segments.ai’s CEO, Otto Debals, in a LinkedIn post. Meanwhile, in a separate post, Uber AI Solutions, the company’s AI data services arm, stated that the deal reflects its focus on strengthening lidar and multi-sensor data annotation.

The company highlighted that it has been working on this for almost a decade, applying labels to real-world data to advance autonomy, safety, and AI. “We are continuing to double down on our lidar and multi-sensor data annotation capabilities as we serve customers globally,” the company stated.

Following the acquisition, the Segments.ai team will join Uber AI Solutions, under Megha’s leadership within Gus’s Core Services unit, to speed up the development of advanced annotation tools for robotics and autonomous technologies.

Founded in 2020 by Otto Debals and Bert De Brabandere, Segments.ai offers a data labeling platform designed for training autonomous systems such as robots and self-driving vehicles. Its cloud platform and API cut down the manual work of labeling large datasets by providing efficient tools, automated suggestions, and smart learning features.

Y Combinator (W21) accepted Segments.ai as its first Belgian company, and the startup has since grown into a cashflow-positive business with customers worldwide. Its annotation platform has supported projects ranging from autonomous tractors to futuristic delivery drones.

Merus Capital, Volta Ventures, and Y Combinator partners Nicolas Dessaigne, Dalton Caldwell, and Harj Taggar backed the company, with additional support from Start it Accelerate | KBC, angel investors, and advisors.

Mexican fintech Kapital plans IPO within three years, CEO says

By
BRL Editor
-
0
Rene Saul, CEO, Kapital

Mexican fintech company Kapital may launch an initial public offering (IPO) within the next three years, according to Chief Executive Rene Saul.

“In the next three years we will look for the IPO,” Saul said at a press conference, adding that he prefers a dual listing in both the U.S. and Mexico.

The company surpassed a $1 billion valuation last month, reaching unicorn status following a fresh funding round and a series of acquisitions in the traditional banking sector.

In August, Kapital announced plans to acquire the brokerage, asset management, and operational banking divisions of Mexican financial group Intercam.

The U.S. flagged Intercam in June for “primary money laundering concerns.”

With its unicorn milestone, aggressive acquisition strategy, and IPO ambitions, Kapital is positioning itself as a major force in Latin America’s evolving financial ecosystem.

Royal Orchid Hotels and ICONIQA join hands with Paisa4Plates for charitable initiative

By
BRL Editor
-
0
Shibani Malhotra, General Manager, ICONIQA Mumbai

Royal Orchid Hotels has announced a landmark collaboration with Paisa4Plates, a charitable initiative founded by Aryaveer Baljee, Youth MP for Hampshire. The program will debut at ICONIQA Mumbai, the group’s upscale lifestyle property, before rolling out across the company’s wider hotel portfolio in India. This initiative encourages guests to make small, voluntary contributions that feed the homeless, provide mid-day meals to schoolchildren, and support food distribution to communities in need.

The concept draws inspiration from the success of Pounds4Plates in London, where restaurants introduced an optional 0.25% service charge to support food charities. Building on that model, Aryaveer has launched Paisa4Plates in India to align with his cultural roots and his dedication to social impact.

The program gives guests staying at more than 120 Royal Orchid properties — including Regenta, Regenta Place, Royal Orchid, and ICONIQA — the option to contribute 0.5% of their bill to a cause chosen by each individual hotel. The funds will directly benefit local charities addressing hunger and homelessness, with transparency ensured through table tents and guest communications.

“We are thrilled to partner with Paisa4Plates to bring this meaningful initiative to our guests in India,” said Shibani Malhotra, General Manager, ICONIQA Mumbai. “This aligns with our core mission to make travel impactful for all. By offering our guests the opportunity to contribute to such a worthy cause, we hope to create a ripple effect of positive change in communities across India.”

Aryaveer Baljee, the force behind the movement, emphasized the broader vision: “Hospitality is about more than just service–it’s about building bridges and uplifting communities. After the success of Pounds4Plates in the UK, I felt compelled to bring this model to India, where the need is immense. Partnering with ICONIQA and Royal Orchid Hotels, brands with a strong and growing presence in India, allows us to scale this initiative and make a tangible difference in the lives of the hungry and homeless.”

The program enables hotels to act as facilitators while fostering goodwill and deeper engagement with guests. Royal Orchid will introduce the initiative across its Indian properties in late 2025, with plans to expand further in partnership with local NGOs and food banks.

Meanwhile, Wyndham Hotels & Resorts continues to demonstrate its corporate responsibility commitment through efforts focused on sustainability and community support, such as initiatives to combat human trafficking and reduce environmental impact. The association with Paisa4Plates reinforces Wyndham’s pledge to “do well by doing good.”

Infra.Market files for ₹5,000-Cr IPO through confidential route

By
BRL Editor
-
0
Aaditya Sharda, Co-Founder, Infra.Market

Infra.Market, the Mumbai-based online marketplace for construction materials, has filed for an initial public offering (IPO) worth ₹5,000 crore with the Securities and Exchange Board of India (SEBI), choosing the confidential filing route under Regulation 59C of SEBI’s ICDR Regulations.

The public issue will include a fresh issue of shares and an offer for sale (OFS) in nearly equal proportion, according to people familiar with the matter. Moreover, a consortium of leading investment bankers — Kotak Mahindra Capital, IIFL Capital, Goldman Sachs, Jefferies, ICICI Securities, HSBC Securities, Motilal Oswal Financial Services, and Nuvama Wealth Management — will jointly manage the IPO.

The filing comes just two weeks after the company raised ₹732 crore from promoters and existing shareholders, valuing the company at around $2.8 billion. Founders Aaditya Sharda and Souvik Sengupta, through their promoter entity Silverline Homes Pvt Ltd, invested ₹250 crore in that round, boosting their stake to about 30%. Zerodha cofounder Nikhil Kamath’s NK Squared also participated with a ₹200 crore investment, alongside global investors Tiger Global, Accel India, Evolvence India Fund, and Nexus Ventures.

Founded in 2016 by Sengupta and Sharda, Infra.Market offers a wide range of building materials — from concrete, steel, and pipes to plywood, electrical appliances, and fittings — catering to real estate developers, contractors, and architects.

The company reported strong growth in FY25, closing the year with revenue of around ₹18,000 crore and profit after tax of about ₹300 crore. In FY24, it recorded ₹14,743.5 crore in revenue and a net profit of ₹378 crore, according to Tracxn. To further support expansion, Infra.Market also raised $50 million in debt from Mars Growth Capital in June, bringing its total borrowings from the fund to $150 million.

By filing for its ₹5,000 crore IPO, Infra.Market is signaling its ambition to cement its leadership in India’s construction tech sector while tapping public markets to fuel its next phase of growth. With strong backing from global investors and robust financial performance, the unicorn looks set to build on its rapid rise in the infrastructure supply chain

Meta to acquire chip startup Rivos to strengthen semiconductor capabilities

By
BRL Editor
-
0
Mark Zuckerberg, CEO, Meta

Meta intends to acquire chip startup Rivos to strengthen its in-house semiconductor capabilities.

The Santa Clara, California-based startup, backed by Intel CEO Lip-Bu Tan, specializes in designing chips based on the RISC-V architecture, an open-source alternative to architectures produced by Arm, Intel, and AMD.

Rivos brings expertise in building full-stack AI systems, Meta’s vice president of engineering Yee Jiun Song said in a LinkedIn post.

Meta plans to expand work on the Meta Training and Inference Accelerator (MTIA), its line of custom-built in-house chip accelerators, he added.

The chip startup was approaching a new funding round with an estimated valuation of around $2 billion, a source familiar with the matter said.

Another source said that Meta, one of Rivos’ largest customers, has been discussing a potential deal with the startup.

“Our custom silicon work is progressing quickly and this will further accelerate our efforts,” a Meta spokesperson said.

Earlier this year, Meta tested its first in-house chip for AI system training as the company works to reduce infrastructure costs tied to advanced AI tools.

The Instagram and Facebook owner has spent heavily on in-demand AI chips from Nvidia.

Toyota commits $1.5 Billion to startup investments

By
BRL Editor
-
0
Akio Toyoda, Chairman and Master Driver of Toyota

Toyota is doubling down on its push into mobility, climate tech, AI, and industrial automation with a fresh $1.5 billion commitment. The company will deploy the new capital across the full startup journey — supporting companies from seed stage through growth and into maturity.

The automaker made two major announcements that highlight its deepening role in the startup ecosystem, while also hinting at how these young companies could influence Woven City, Toyota’s experimental 175-acre smart city at the base of Mount Fuji, which opened earlier this year.

The company unveiled a new strategic investment arm called Toyota Invention Partners Co., capitalized with about $670 million. At the same time, its growth-stage investment unit, Woven Capital, launched a second fund worth $800 million.

Toyota Invention Partners will pursue a long-term investment strategy with a focus on Japan-based startups, opting out of the conventional fixed time horizons typical of venture funds. Woven Capital general partner George Kellerman described the new subsidiary as a complement to the brand’s existing investment entities.

“One way to think about them (Toyota Invention Partners) is they’re bookending what Toyota Ventures and Woven Capital are doing,” Kellerman said in a phone interview. “They’re doing the really early stage on one end, but then they’re maybe doing these longer-term project finance, asset management type of infrastructure investments, that might be a 30-, 40-, 50-year type of investment.”

According to Kellerman, Toyota Invention Partners will handle the “zero to one” phase, Toyota Ventures will cover early-stage startups, and Woven Capital will focus on the growth stage. He added that Invention Partners could also continue backing a company across all phases, and if it achieves large-scale success, it could eventually move onto the company’s balance sheet.

Kellerman said these two announcements demonstrate the automaker’s commitment to backing innovation.

“The thing that really excites me is that Toyota is clearly leaning in; they’re committing over $3 billion across Toyota Invention Partners, Woven Capital’s fund one and two, and all of Toyota Ventures funds,” he said. “And it’s really about making sure that we can serve the needs of the market and the founders that we’re working with, because their needs change depending on their stage.”

Toyota is already putting the strategy into practice. On the same day, Machina Labs, a Los Angeles-based advanced manufacturing startup that uses AI and robotics to quickly build metal structures, announced a strategic investment from Woven Capital as well as a pilot project with Toyota Motor North America. Under the deal, the company will test Machina Labs’ technology for producing automotive body panels and accessories. The companies did not disclose the investment terms.

Woven Capital, which launched in 2021 with its first $800 million fund, continues to focus on global growth-stage startups. From that fund, it has invested in 18 companies, including Foretellix and autonomous driving startup Nuro, and still plans to use remaining capital for follow-on rounds.

The new $800 million fund will target 20 to 25 Series B through late-stage companies working on AI, automation, sustainability, climate tech, energy, and related areas. Alongside the announcement, the automaker confirmed that it now fully owns Woven Capital as a subsidiary.

1...131132133...541Page 132 of 541

CONNECT WITH US

About Us Career Contact Us Advertise With Us

© Business Review Live | Marcom Media Services International.