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Arkade Developers buys 6.28-acre land parcel in Thane for ₹172-Cr

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Mumbai-based listed real estate company Arkade Developers has announced the acquisition of a 6.28-acre land parcel in Thane, near Mumbai, for ₹172 crore.

According to the company’s statement, the planned development will be a mixed-use project with a projected gross development value (GDV) of ₹2,000 crore and a RERA saleable area of 9.26 lakh square feet.

The company stated that it has acquired the land parcel in Kasarvadavali, off Ghodbunder Road in Thane West. The upcoming project will feature 2, 3, and 4 BHK residences, along with retail and commercial spaces.

Overlooking the Sanjay Gandhi National Park (SGNP), the project offers excellent connectivity via Ghodbunder Road and the Eastern Express Highway, as per the company’s statement.

“With a strong presence in central locations such as Kanjurmarg, Mulund, and Bhandup, our entry into the Thane market marks a significant milestone in our growth journey. Thane, with its rapidly evolving infrastructure including upcoming metro lines and other major projects, is emerging as a key growth hub for residential and commercial projects,” said Amit Jain, chairman and managing director, Arkade Developers Limited.

“Our strategy is aligned with the overall market trend towards luxury housing. With accelerating demand, we are well-positioned to maintain a sustainable growth trajectory, creating enduring value for all stakeholders. FY 25 marks a year of prominence, during which we also acquired the legendary 4-acre land parcel in Goregaon, previously leased to Filmistan Pvt. Ltd, having an estimated GDV of ₹3,000 crore,” Jain said.

The company noted that the upcoming Metro Line 4 and the Thane-Borivali twin tunnel will significantly transform the area.

According to the company, Ghodbunder Road continues to attract discerning homebuyers and investors. Moreover, Jones Lang LaSalle (JLL) India served as the exclusive transaction advisor for the deal, further reinforcing the strategic importance of this acquisition.

“With rising infrastructure tailwinds and a maturing residential catchment, Thane is fast emerging as a magnet for premium mixed-use development. JLL is proud to have exclusively advised on this deal that underscores our leadership in land advisory transactions and strategic capital placements,” said Nishant Kabra, Head – Capital Markets (West & North India), JLL.

With the strategic land acquisition in Thane, Arkade Developers aims to strengthen its presence in the Mumbai Metropolitan Region. Supported by major infrastructure developments like Metro Line 4 and the Thane-Borivali twin tunnel, the company plans to launch a mixed-use project designed to attract both homebuyers and investors, further enhancing Ghodbunder Road’s reputation as a prime real estate destination.

Atmosphere Core to open luxury hill resort in Kufri by 2026

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Atmosphere Core has partnered with Satyadeo Hospitality Private Limited to launch a luxury boutique resort, ATMOSPHERE KUFRI, in the scenic hill town of Kufri, Himachal Pradesh. Slated to open in early 2026, the resort will be strategically nestled in the Himalayan slopes, just a short drive from Shimla, offering guests both tranquility and accessibility.

Speaking on this latest venture destination, Souvagya Mohapatra, Regional Managing Director of Atmosphere Core for India, Nepal, Sri Lanka, and Bhutan, added, “The Himalayan hill stations have always been central to our vision of creating iconic luxury experiences. Kufri, with its awe-inspiring Himalayan backdrop and timeless appeal, is a natural choice for our expansion. As plans to enter this extraordinary destination unfold, and I am confident that this collaboration will redefine hospitality in the region.”

Salil Panigrahi is Managing Director of Atmosphere Core, “As part of our dynamic expansion across India, a key focus is our approach towards developing premium experiences in hill station destinations. As part of our mission to sign 25 properties by 2025, this upcoming resort is being thoughtfully designed to cater to a diverse range of travellers—from leisure seekers and corporate guests to curated events and destination weddings.”

Operating under the ATMOSPHERE sub-brand, the resort will initially offer 58 upscale accommodations, including deluxe rooms, suites, and presidential suites. In the next phase of development, Atmosphere Core will expand to 100 rooms, ultimately providing guests with uninterrupted views of snow-capped Himalayan peaks and lush green surroundings.

ATMOSPHERE KUFRI will feature a diverse culinary lineup. To begin with, guests can enjoy an all-day dining restaurant with outdoor seating. Additionally, the resort will offer a specialty eatery focused on northern Indian cuisine, a cosy bakery, an elegant lounge, and a chic bar — all thoughtfully designed to cater to refined palates.

The award-winning ELE|NA spa will anchor the resort’s wellness offerings, with therapy rooms that provide guests with rejuvenating treatments while overlooking the serene Himalayan landscape.

Pawan Kumar, Managing Director of Satyadeo Hospitality Private Limited, concluded, “Atmosphere Core’s distinguished legacy of unparalleled excellence and exquisite luxury exquisitely aligns with our vision to unveil a transcendent world-class resort amidst the awe-inspiring Himalayas. With a new generation of leadership ascending at Satyadeo Hospitality Private Limited, we are committed to manifesting ultra-lavish, bespoke hotels and resorts that embody the pinnacle of sophistication and grandeur. This illustrious partnership will not only elevate Kufri’s hospitality landscape to unprecedented heights but will also set an unrivaled benchmark for opulence, elegance, and impeccable service in this breathtaking Himalayan sanctuary.”

Set to open in early 2026, the resort reflects Atmosphere Core’s commitment to delivering world-class hospitality in India’s most scenic locales.

Clay raises new funding round, reaches $3 Bn valuation: Sources

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Clay, a sales automation startup, has reportedly closed its Series C funding round at an estimated $3 billion valuation, with CapitalG leading the investment, according to three sources familiar with the matter.

Just a month ago, the New York-based startup announced a tender offer that allowed most of its employees to sell a portion of their shares at a $1.5 billion valuation. Sequoia led the secondary transaction, committing to purchase up to $20 million worth of employee stock.

While it might appear that employees who sold shares at the lower valuation missed out, they’ll likely have another opportunity to sell stock at a higher price next year. Co-founder and CEO Kareem Amin has expressed intentions to conduct tender offers on an annual basis.

Founded in 2017, Clay found its momentum in recent years after shifting its focus to empowering sales and marketing teams with AI. The platform helps users discover key data, automate go-to-market strategies, build and update prospect lists, and craft personalized outreach emails.

Today, Clay’s tools are used by thousands of customers, including major names like OpenAI, HubSpot, and Canva, as well as over 100 small consulting firms that assist other businesses in leveraging Clay for sales growth.

Clay operates in a competitive landscape alongside platforms such as ZoomInfo, Lusha, and Apollo.io, as well as emerging players like Unify and Common Room.

In addition to Sequoia, Clay’s existing backers include Meritech Capital, Boldstart Ventures, Maple VC, First Round Capital, and Box Group.

With its latest funding round boosting its valuation to $3 billion and a strong lineup of investors, Clay continues to solidify its position in the competitive sales automation space. The company’s commitment to annual tender offers also signals a focus on long-term employee incentives as it scales further.

Yogurt Factory partners with FranGlobal to launch in India and drive retail expansion

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Gaurav Marya, Chairman of Franchise India Group

French frozen yogurt brand Yogurt Factory has made its foray into the Indian retail market through a partnership with FranGlobal, the international division of Franchise India. This collaboration aims to bring the brand’s low-fat frozen treats and diverse menu offerings to India’s rapidly growing community of health-conscious consumers.

Established in 2011 by HEC Paris graduates Ouriel Hodara and Emmanuel Tedesco, Yogurt Factory started with a single store in Paris and has since expanded to over 85 outlets across ten countries, including France, Belgium, Spain, Morocco, and Malaysia. The brand’s entry into India represents a key milestone in its broader global expansion strategy.

Gaurav Marya, Chairman of Franchise India Group, said, “As Indian consumers increasingly seek mindful indulgence, Yogurt Factory is the perfect brand that blends wellness with joy. With 0 percent fat, unlimited toppings, and a cheeky, fun format—it’s the dessert of the future. At FranGlobal, we’re proud to launch a brand that speaks to both foodies and franchisees alike.”

The Indian operations will showcase Yogurt Factory’s signature zero percent fat frozen yogurt, allowing customers to customize their desserts with unlimited toppings at a fixed price. Topping choices will range from fresh fruits, cereals, and sauces to indulgent add-ons like brownies, cookies, and popular global brands such as Oreo, Kinder, and Speculoos.

In addition to its flagship frozen yogurt, Yogurt Factory’s Indian menu will feature a variety of other indulgent yet health-conscious offerings. Customers can enjoy smoothies crafted from fresh fruit blends, thick milkshakes in a range of flavors, and Liège and bubble waffles with customizable toppings. The menu will also include refreshing bubble teas, iced teas, and freshly pressed juices, catering to diverse tastes and preferences across the Indian market.

FranGlobal is actively targeting aspiring entrepreneurs with investment opportunities ranging from ₹30 lakh to ₹60 lakh, offering flexible store formats including compact kiosks and larger flagship outlets. The franchise model offers a turnkey solution, with FranGlobal providing comprehensive support in key areas such as site selection, store design, staff training, marketing, and daily operations.

The first Yogurt Factory outlet in India is set to launch later this year, with the brand planning an ambitious rollout across major metropolitan cities and high-footfall shopping malls nationwide.

Fidelity raises Lenskart valuation to $6.1 Bn ahead of IPO

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Peyush Bansal, CEO, Lenskart

Fidelity has increased the valuation of omnichannel eyewear brand Lenskart to $6.1 billion, according to its latest monthly portfolio update.

In November, Fidelity valued the Peyush Bansal-led company at $5.6 billion.

In June 2024, Lenskart secured $200 million through a secondary funding round, followed by a $20 million investment led by Bansal himself. To date, the company has raised close to $1 billion and reached a $5 billion valuation during the secondary deal, with Fidelity also participating in the round.

This valuation update comes as Lenskart gears up for its initial public offering (IPO), with plans to raise $1 billion at a target valuation of $10 billion. Just last week, it was reported that the company transitioned its parent entity from a private limited to a public limited company—a key step toward going public.

Reports also indicate that Lenskart intends to confidentially file its draft red herring prospectus (DRHP) with the market regulator by the end of this month.

Financially, Lenskart made significant progress in FY24, reducing its losses by 84% to ₹10 crore from ₹63 crore in FY23. Meanwhile, revenue from operations surged by 43% to ₹5,427.7 crore during the same period. FY25 results are still awaited.

Additionally, Lenskart is reportedly in talks to acquire location intelligence startup GeoIQ, a development first revealed earlier this week.

Clarks Hotels & Resorts launches new property in Sasan Gir, Gujarat

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The Clarks Hotels & Resorts has introduced Gir Aatithya Clarks Inn, an upscale, nature-themed property nestled in the scenic wilderness of Sasan Gir. Spanning 16 acres and conveniently located just 25 km from the iconic Somnath Temple, the resort caters to wildlife enthusiasts, spiritual seekers, and families seeking immersive travel experiences.

The property features well-appointed Deluxe and Premium rooms, each offering private balconies overlooking lush orchards and designed to provide maximum guest comfort. Additionally, guests can enjoy a range of amenities, including a swimming pool, gym, and children’s play area. Notably, the resort’s standout feature is its floating breakfast experience served in the pool.

Rahul Deb Banerjee, COO of The Clarks Hotels & Resorts, expressed his enthusiasm, stating, “Expanding our presence to unique destinations like Sasan-Gir aligns perfectly with our corporate strategy of providing personalized experiences to our guests. Gir Aatithya Clarks Inn is crafted to reflect the beauty and tranquility of its surroundings. As domestic tourism continues to grow and travelers seek immersive getaways, we are confident that this property will offer unforgettable moments rooted in nature, culture, and heartfelt hospitality.”

Dining at Gir Aatithya Clarks Inn is a true celebration of flavors. Moreover, the on-site restaurant, The Bridge, offers a vegetarian-only, multi-cuisine menu with a strong emphasis on regional specialties. In addition, for special occasions and gatherings, the property features a sprawling 32,000-square-foot lawn and an 8,000-square-foot banquet hall—making it an ideal venue for weddings, retreats, and corporate events.

“Our vision is to create immersive stays that connect travelers with the region’s natural and cultural richness; from mango plucking in our private orchard to exploring Gir’s iconic safaris, we’re offering guests,” Gir Aatithya Clarks Inn said in a statement.

Thanks to its strategic location near popular attractions like Gir Jungle Safari, Devaliya Safari Park, and key pilgrimage sites, the hotel is an ideal choice for families, honeymooners, wildlife photographers, and NRIs looking to reconnect with their heritage. Furthermore, its serene setting and thoughtful amenities enhance the overall guest experience, making it a standout destination in the region.

Meta acquires stake in Scale AI, valuing startup at $29B

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Alexandr Wang, CEO and Co-founder, Scale AI

Scale AI announced on Thursday that Meta Platforms has completed an investment deal valuing the startup at over $29 billion.

According to two sources with knowledge of the deal, Meta’s investment totals approximately $14.3 billion.

The sources revealed that Scale AI CEO and cofounder Alexandr Wang will join Meta’s newly formed “superintelligence” unit, which aims to develop artificial general intelligence (AGI)—machines capable of equaling or exceeding human intelligence.

Scale AI announced that its Chief Strategy Officer, Jason Droege, will take over as interim CEO following Alexandr Wang’s departure.

By bringing Wang on board—despite his lack of formal experience in frontier AI research—Meta CEO Mark Zuckerberg appears to be betting on a business-savvy leader akin to OpenAI’s Sam Altman, rather than following the model of research scientists leading most rival AI labs.

The investment deal marks Meta’s second-largest ever, trailing only its $19 billion acquisition of WhatsApp.

Notably, since many AI labs have relied on Scale for data services, Zuckerberg may also gain valuable insight into competitors’ data strategies—a crucial asset in training advanced AI models.

In May 2024, Scale AI raised $1 billion in funding from prominent backers including Nvidia, Amazon, and Meta, which brought the company’s valuation to nearly $14 billion.

Founded in 2016, Scale AI specializes in delivering large volumes of precisely labeled data—an essential resource for training advanced AI models like OpenAI’s ChatGPT.

To achieve this, the company established subsidiary platforms such as Remotasks and Outlier, which recruit and manage gig workers who manually annotate data.

Wang, the 28-year-old co-founder, has led the company through various high-growth tech phases, initially focusing on autonomous vehicles and now shifting toward the booming field of generative AI.

With Meta’s strategic investment and Alexandr Wang joining its superintelligence unit, Scale AI stands at the center of a pivotal shift in the AI landscape. The deal not only signals Meta’s aggressive push toward achieving artificial general intelligence but also highlights the growing importance of high-quality data in shaping next-generation AI models. As leadership transitions and new alliances form, Scale is well-positioned to influence the future trajectory of AI development.

Canary raises $80 Mn Series D to expand AI-powered hotel management platform

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Harman Singh Narula & SJ Sawhney, Co-founders, Canary

Canary, a platform focused on hotel guest management, announced on Thursday that it has secured $80 million in Series D funding, with Brighton Park Capital leading the round.

Originally founded in 2018 by Harman Singh Narula and his childhood friend SJ Sawhney, the company aims to help hotels streamline and automate guest interactions. Since then, Canary has raised nearly $180 million in total funding, reflecting strong investor confidence in its long-term vision.

“Running a hotel is increasingly complex,” Singh Narula said. “Guest expectations are constantly evolving, and staffing shortages continue to strain operations. We felt the hotel market was underserved by technology and that modern solutions could help hoteliers elevate the guest experience, improve profitability, and operate more efficiently.” 

Singh Narula explained that Canary provides a comprehensive suite of products covering the entire guest journey—from booking to checkout. For example, the platform allows guests to check in via their mobile devices or contact the front desk through text messages. Moreover, he noted that the company is increasingly integrating AI into its services by leveraging a large language model (LLM) to deliver instant responses across voice, web, and text channels.

“The guest’s user experience is completely customized and branded for each hotel,” he continued. “So, as a guest, you may not know that Canary helped enable your travel experience. With that said, if you’ve stayed in hotels recently, odds are you’ve utilized Canary, as we now work with 20,000 hotels across 100-plus countries.” Companies that use Canary include the Rosewood Hotels, Marriott, Best Western, and Wyndham. 

However, Canary isn’t without competitors—according to PitchBook, other guest management software providers in the space include Cloudbeds and Revinate.

Furthermore, Singh Narula characterized the company’s fundraising approach as opportunistic.

“While we weren’t actively fundraising, the opportunity emerged to bring in the right partners with strong alignment on vision, values, and where we’re headed,” he said.

Other investors, including Y Combinator, Insight Partners, and Fidelity, participated in the round. 

Singh Narula said the company will use the capital to expand operations and hire additional employees.

“We see travel as one of the most powerful ways people connect with the world,” he said. “We believe Canary has an important role to play in making those experiences more personal, more memorable, and more meaningful.”

With this latest funding round, Canary plans to further enhance its AI-driven guest management solutions and expand its presence in the hospitality tech space. Despite facing competition from players like Cloudbeds and Revinate, the company’s comprehensive product suite and strategic fundraising efforts position it well for continued growth.

Multiverse Computing raises $217 Mn to shrink AI model sizes

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Spanish AI company Multiverse Computing announced on Thursday that it has raised €189 million ($217 million) in funding from investors including Bullhound Capital, HP Inc., Forgepoint Capital, and Toshiba to advance its AI model compression technology.

The firm claims its innovation can shrink large language models (LLMs) by up to 95% without compromising performance while also cutting operational costs by as much as 80%.

Moreover, its approach blends concepts from quantum physics and machine learning to effectively simulate quantum systems—without requiring an actual quantum computer.

With this latest funding round, Multiverse has emerged as the largest AI startup in Spain. As a result, it now stands alongside Europe’s leading AI companies such as Mistral, Aleph Alpha, Synthesia, Poolside, and Owkin.

The company has already released compressed versions of LLMs, including Meta’s Llama, China’s DeepSeek, and France’s Mistral, and plans to launch additional models soon.

“We are focused just on compressing the most used open-source LLMs, the ones that the companies are already using,” Chief Executive Officer Enrique Lizaso Olmos said.

Per Roman, co-founder & managing partner, Bullhound Capital, said, “Multiverse’s CompactifAI introduces material changes to AI processing that address the global need for greater efficiency in AI, and their ingenuity is accelerating European sovereignty. Román Orús has convinced us that he and his team of engineers are developing truly world-class solutions in this highly complex and compute-intensive field. Enrique Lizaso is the perfect CEO for rapidly expanding the business in a global race for AI dominance.”

The compression tool developed by Multiverse is also accessible via the Amazon Web Services (AWS) AI Marketplace, making it easier for developers and enterprises to integrate the technology into their workflows.

Damien Henault, Managing Director, Forgepoint Capital International, added, “The Multiverse team has solved a deeply complex problem with sweeping implications. The company is well-positioned to be a foundational layer of the AI infrastructure stack. Multiverse represents a quantum leap for the global deployment and application of AI models, enabling smarter, cheaper, and greener AI. This is only just the beginning of a massive market opportunity.”

Multiverse Computing, backed by substantial funding and armed with groundbreaking compression technology, is actively working to make large language models more efficient and accessible. Its presence on the AWS Marketplace further amplifies its reach and impact. Its rise marks a significant milestone for Spain’s AI ecosystem and strengthens Europe’s position in the global AI innovation landscape.

Holiday Inn Express expands footprint in Kolkata’s New Town

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Sudeep Jain, Managing Director, South West Asia, IHG Hotels & Resorts

IHG Hotels & Resorts has unveiled the launch of Holiday Inn Express Kolkata New Town, strengthening its footprint in India. Situated in Rajarhat’s New Town—a rapidly growing hub known for its IT parks and business centers—the new hotel aims to cater to modern travelers.

The property offers 113 contemporary rooms, thoughtfully designed to provide both comfort and functionality. Moreover, tailored to meet the needs of both business and leisure travelers, the hotel delivers a smart, no-fuss stay experience, complete with all the essential amenities.

Sudeep Jain, Managing Director, South West Asia, IHG Hotels & Resorts, said, “We’re excited to bring Holiday Inn Express to Kolkata’s New Town. This opening highlights our commitment to providing smart, seamless stays for today’s travelers. Being in the heart of a thriving business hub, we’re confident the hotel will cater perfectly to the needs of both corporate and leisure visitors.”

Guests at the Holiday Inn Express Kolkata New Town can start their day with a complimentary Express Start Breakfast, featuring a mix of healthy and hearty choices. For those on the go, a Grab & Go counter offers added convenience. The hotel also provides free high-speed Wi-Fi, a 24-hour fitness center, and well-equipped rooms with blackout curtains, plush bedding, and invigorating power showers for a restful stay.

Each room includes flat-screen TVs with content mirroring, flexible workspaces, and multiple USB ports, allowing guests to stay connected, productive, or simply relax. Conveniently situated near Eco Park and just a short drive from Kolkata’s city center, the hotel offers easy access to both business and leisure destinations.

Ashish Jakhanwala, Chairman, Managing Director & CEO of SAMHI Hotels Ltd., added, “We are proud to announce the opening of our latest hotel in Kolkata, a testament to our commitment to growing our portfolio of high-quality hotels in key markets. Our investment in the HIEX brand is driven by our vision to build a platform of high-quality and highly relevant products for key markets across India. This hotel also marks our first hotel in the eastern part of India and an established market like Kolkata.”

With its strategic location, modern amenities, and focus on comfort and convenience, Holiday Inn Express Kolkata New Town is set to cater seamlessly to the needs of both business and leisure travelers. The new opening reinforces IHG’s commitment to expanding its presence in key urban centers across India.

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