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Eight Continents Hotels & Resorts launches Legacy Hotels

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Eight Continents Hotels & Resorts unveiled its ultra-luxury brand, Legacy Hotels, at The Great India Travel Bazaar 2025. Presented alongside global travel leaders, this new division aims to redefine aristocratic hospitality by converting royal residences into immersive, world-class palace experiences for discerning travelers.

Legacy Hotels goes beyond being just a collection of luxury properties. It pays homage to India’s majestic heritage by blending noble traditions, timeless architecture, and contemporary elegance.

The brand builds itself on five core pillars: regal legacy, timeless luxury, architectural magnificence, personalized hospitality, and cultural immersion. Rather than treating these aspects separately, Legacy seamlessly integrates them to create an unforgettable experience.

Each Legacy Hotel carefully restores and transforms a unique royal residence into an ultra-luxury retreat. The hotel welcomes guests with grand ceremonial arrivals, provides attentive service through personal butlers, and offers specially curated experiences such as private palace dinners, horseback safaris, and barge cruises.

The dining experience draws inspiration from ancient royal kitchens, while wellness offerings combine traditional therapies with contemporary spa treatments—creating a perfect blend of indulgence, heritage, and rejuvenation.

Speaking at the brand’s unveiling, Haninder Sachdeva, CEO of Eight Continents Hotels & Resorts, said, “Legacy is a soulful tribute to the art of noble living. In an age where speed and uniformity dominate, Legacy offers a rare and deeply enriching experience. These are not hotels, but sanctuaries of history, storytelling, and soul, designed to help our guests connect with the grandeur of the past while enjoying the sophistication of the present.”

Legacy Hotels designs experiences for high-net-worth individuals, royalty enthusiasts, destination wedding travelers, and the global elite, allowing them to truly live royalty rather than just remember it.

By debuting at one of Asia’s most influential travel platforms, Eight Continents has made a strong statement: Legacy Hotels represents not only its expansion into the ultra-luxury segment but also sets a new global standard in heritage hospitality. The first signature palaces under the Legacy brand will soon open across India, the Middle East, and Europe, inviting guests worldwide to immerse themselves in a realm of grandeur and elegance.

Embassy Office Parks REIT secures ₹2000-Cr via debt issue at 7.21%

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Ritwik Bhattacharjee, chief executive officer, Embassy REIT

Bengaluru-based Embassy Office Parks REIT raises ₹2,000 crore through coupon-bearing debt with a three-year tenure at an interest rate of 7.21%. The company will use the proceeds to refinance existing debt, which should reduce interest costs by approximately 77 basis points.

“We are pleased to announce this fundraiser. This transaction showcases Embassy REIT’s fortress balance sheet and reinforces our standing as the leading credit in India’s commercial real estate sector. We maintain a well-diversified and conservative debt book, and this refinancing positions us well to capitalize on future growth opportunities,” said Ritwik Bhattacharjee, chief executive officer, Embassy REIT.

Embassy REIT priced the Series XIII NCDs (2025) at an effective interest rate, responding to strong demand from institutional investors, with 11 entities participating in the issuance.

Bhattacharjee stated that Embassy REIT will exercise the call option on its ₹500 crore Series IX NCDs, which carry a coupon rate of 8.03%. Embassy REIT plans to make the early repayment on June 4, 2025, three months before the original maturity date of September 4, 2025.

Looking ahead to FY26, Bhattacharjee acknowledged the prevailing socio-economic challenges; however, he expressed confidence in sustained demand, particularly driven by Global Capability Centers (GCCs). Furthermore, he highlighted Embassy REIT’s commitment to execution, cost optimization, and successfully achieving its FY26 targets.

Embassy REIT has projected distributions between ₹24.50 and ₹26 per unit, representing a 10% year-on-year growth at the midpoint. It also anticipates occupancy levels of 93–94% by value and expects net operating income (NOI) to range between ₹35.9 billion and ₹38.1 billion, indicating a 13% increase.

As India’s first publicly listed real estate investment trust and the largest office REIT in Asia by area, Embassy REIT owns and operates a 51.1 million square foot portfolio comprising 14 office parks. These properties are strategically located across Bengaluru, Mumbai, Pune, NCR, and Chennai, further strengthening its presence in key commercial hubs.

Embassy Office Parks REIT continues to strengthen its financial position through strategic debt refinancing and proactive capital management. Moreover, with robust institutional interest, improving occupancy levels, and projected growth in distributions and net operating income, the REIT remains well-positioned to navigate market challenges and meet its FY26 goals. Additionally, its expanding footprint across key Indian cities reinforces its leadership in the commercial office space sector.

Foxconn to invest $1.5 Bn in India to boost Apple manufacturing

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Foxconn has announced a ₹1.5 billion investment in its India unit, as Apple continues to shift more of its manufacturing operations out of tariff-affected China.

According to a filing on the London Stock Exchange, Foxconn’s Singapore-based subsidiary will acquire 12.77 billion shares in Yuzhan Technology India at ₹10 per share, totaling an investment of ₹127.74 billion (approximately $1.5 billion).

Foxconn’s unit, Yuzhan Technology India, operates out of Tamil Nadu, where it manufactures electronic components and assembles Apple iPhones.

Apple is increasingly positioning India as a key alternative manufacturing hub in response to supply chain disruptions and higher costs driven by U.S. tariffs on China, as reported by Reuters last month.

In March, Apple significantly boosted its production in India, exporting nearly 600 tons of iPhones worth $2 billion to the United States.

Foxconn’s $1.5 billion investment in its India unit marks a significant step in Apple’s broader strategy to diversify its supply chain and reduce reliance on China. With India emerging as a key manufacturing hub, especially for iPhones, this move not only strengthens local production capabilities but also reinforces Apple’s long-term commitment to the region.

Evoke Experiences expands with new destinations and experiential hotels

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Bhavik Sheth - Chief Operating Officer - Evoke Experiences

Experiential hospitality brand Evoke Experiences has announced a strategic expansion that represents a significant evolution in its business model.

Renowned for its immersive glamping retreats and cultural tent cities, the company now plans to broaden its footprint in the hospitality sector. To achieve this, it will add a diverse range of experiential properties to its portfolio, further enhancing its offerings and appeal to a wider audience. It is also opening doors to partnerships through asset lease and management collaborations.

With iconic destinations such as Rann Utsav – The Tent City, Statue of Unity Tent City-1, Gandhisagar Forest Retreat, the newly launched Evoke Dholavira, and the upcoming Evoke Ram Bagh in Ayodhya featuring 156 keys, Evoke Experiences has, over time, built a strong reputation for delivering destination-driven stays. Notably, these experiences seamlessly blend luxury with culture, nature, and sustainability, the company stated.

The brand currently manages a total of 750 keys and is aiming to surpass the 1,000-key mark by the end of 2025.

Evoke Experiences is gearing up to launch a new property in Gir, further reinforcing its presence in ecologically rich regions. According to the release, this new site highlights the company’s increasing focus on permanent experiential resorts, marking a shift from seasonal operations to year-round offerings.

In a notable development, Evoke Experiences has extended an invitation to hospitality asset owners and landholders across India to collaborate through long-term lease or management agreements. Leveraging its proven strengths in branding, operations, and storytelling-driven design, the company further aims to transform underutilized or lesser-known destinations into profitable, world-class experiential stays.

“We believe the next wave of hospitality growth in India lies beyond convention. Evoke is not just creating places to stay, we’re building narratives, environments, and economies rooted in local culture. We are now actively looking to collaborate with like-minded owners who see the potential of experiential tourism,” said Bhavik Sheth, chief operating officer of Evoke Experiences.

Evoke Experiences is entering a transformative phase, expanding its footprint with a focus on permanent, year-round experiential resorts.

Fashion handbag brand Miraggio raises $6.5 Mn in funding

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Mohit Jain, Founder & CEO, Miraggio

Fashion handbag and accessories brand Miraggio has secured $6.5 million (approximately ₹55 crore) in a funding round spearheaded by RPSG Capital Ventures, an early-stage consumer-focused VC firm, along with Client Associates Alternate Fund.

The round also included participation from Prath Ventures.

The company plans to use the capital to expand its retail presence, strengthen brand visibility, enhance technology integration, and grow its team.

“There was a significant gap in the Indian market that we are trying to fill — offering luxury or premium-quality products with a premium brand experience at an affordable price point. A large part of this capital raise will go towards setting up offline stores. We will be launching our own brand stores,” founder and chief executive officer Mohit Jain said.

As part of its expansion strategy, the startup aims to launch 15 to 20 retail stores across the country within the next two years.

Furthermore, founded in 2019, the Delhi-based fashion handbag brand plans to introduce over 500 new products in the next 18 months. This expansion will include a diverse range of handbag and accessory categories, such as laptop bags, backpacks, mini bags, clutches, and small leather goods.

“Later, in time, we might get into other fashion accessories as well,” said Jain.

Miraggio closed FY25 with a GMV of over ₹110 crore and is now eyeing a target of ₹200 crore. Currently, Miraggio generates 25% of its sales through its own website, while online marketplaces contribute the remaining 75%. To date, the brand has successfully fulfilled over one million orders.

“Our target audience primarily consists of women aged 18 to 35 from tier I, tier II, and tier III cities. They are social media savvy, digitally influenced, self-image conscious, and fashion oriented,” Jain said.

“Today, with widespread internet access and deep digital penetration, I think desire is no longer limited to just tier I cities. There is a significant market opportunity in tier II and tier III cities as well,” he added.

Miraggio raised $1.2 million in 2023, increasing its total funding to $7.7 million to date.

Commenting on the investment, Abhishek Goenka, managing partner, RPSG Capital Ventures, said, “In a highly fragmented and dynamic market, Miraggio stands apart in its ability to offer exceptional value for money, seamlessly combining aspirational design, quality, and experience with premium affordable pricing, making it especially relevant to India’s new-age consumers.”

“We’re excited to be a part of their journey, as we believe they have the potential to reshape the handbag and accessories industry in India,” said Shivam Diwan, executive director, Client Associates Alternate Fund.

The fashion handbag brand Miraggio’s recent $6.5 million funding round not only highlights the company’s strong growth potential but also enables it to accelerate its expansion.

Leisure Hotels enters Rajasthan with new boutique jungle retreat

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Vibhas Prasad, Director, Leisure Hotels Group

Leisure Hotels Group (LHG) has made its entry into Rajasthan with the launch of an exclusive boutique jungle retreat in Ranthambore. Leveraging its experience in wilderness hospitality in Uttarakhand and a diverse portfolio of travel experiences, the group now brings its signature hospitality to the famed wildlife haven of Ranthambore.

Nestled in the heart of Rajasthan’s untamed landscape, this eco-friendly jungle retreat offers a luxurious and thoughtfully designed escape that blends comfort with exclusivity. The property features 24 elegantly crafted villas across three categories—Deluxe Cottage, Junior Suite Cottage, and Premium Suite Cottage.

Each villa boasts warm, inviting interiors with plush furnishings, rich textures, and private sit-out areas. Guests can unwind in their own plunge pools while enjoying breathtaking views of the surrounding jungle.

Perfectly located just 4 km from the main safari entry gates of Ranthambore (Zones 1–5), Singhvilas offers seamless access to both adventure and indulgence, making it an ideal retreat for wildlife enthusiasts and luxury seekers alike. Guests can savour a mix of global flavours and traditional Rajasthani cuisine at L’attitude, the all-day dining restaurant that features charming alfresco seating surrounded by lush greenery.

The culinary experience goes beyond the restaurant, with specially curated bush dinners set in picturesque outdoor locations. Enhancing the stay are immersive activities such as guided safaris and captivating cultural folk performances, offering guests a rich and authentic connection to the region’s wildlife and heritage.

Commenting on the grand opening, Vibhas Prasad, Director, Leisure Hotels Group, said, “Ranthambhore is not just a place—it’s a powerful reminder of India’s rich natural heritage. With Singhvilas, we’re bringing our deep-rooted experience in crafting immersive, nature-led stays—from destinations like Corbett and beyond—into the heart of Rajasthan. Wildlife tourism is a powerful force for conservation and community development, and at Leisure Hotels Group, we see it as both a responsibility and an opportunity.”

“We are proud to be part of Leisure Hotels Group’s continued expansion into India’s premier wildlife destinations. Singhvilas is a natural extension of our vision to create sustainable, soulful escapes that allow travellers authentic connections with nature, local communities, and the spirit of the land,” further added Lalit Shukla, Promoter.

With its debut in Ranthambore, the Group brings a perfect blend of eco-luxury, immersive experiences, and warm hospitality to one of India’s most iconic wildlife destinations. Singhvilas not only offers a serene jungle escape but also connects guests deeply with Rajasthan’s natural beauty and vibrant culture.

Euler Motors raises ₹638-Cr in funding round led by Hero MotoCorp

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Saurav Kumar, founder & CEO, Euler Motors

Electric vehicle (EV) manufacturer Euler Motors announced on Monday that it has raised ₹638 crore in a Series D funding round, led by Hero MotoCorp. The round also included participation from existing investor British International Investment (BII), the UK’s development finance institution.

According to the company, Euler Motors will use the funds to strengthen its sales and service network and develop new products to accelerate the adoption of commercial EVs in India.

“With this fresh capital and strategic backing from new and existing investors, we are poised to accelerate our scale, continue innovating to deliver superior products, and come a few steps closer towards becoming India’s No. 1 commercial EV brand,” said Saurav Kumar, Founder and CEO, Euler Motors, in the statement. With this round, the company has raised approximately Rs 1,420 crore to date.

Earlier in January, Euler Motors had raised up to $20 million in debt funding from responsAbility Investments AG to scale up its production and distribution infrastructure and boost its R&D capabilities.

This capital infusion followed the successful closure of its Series C funding round, in which the company secured an additional ₹200 crore from investors such as British International Investment, Blume Ventures, and Piramal Alternatives India Access Fund.

At the time, Euler stated that the funding would support the development and expansion of its four-wheeler commercial EV, the Storm EV, aimed at serving logistics and e-commerce clients.

“As we strengthen and diversify our presence in the emerging mobility landscape, this investment allows Hero MotoCorp to venture into a rapidly growing electric three and four-wheeler market, while unlocking adjacent business opportunities and continuing to cement its leadership in the future of sustainable mobility,” said Pawan Munjal, Executive Chairman of Hero MotoCorp.

Euler Motors’ key investors also include Blume Ventures, Asian Development Bank Ventures, Athera Partners, and Piramal Alternatives India Access Fund, highlighting strong backing from both domestic and international institutions.

Euler Motors’ successful ₹638 crore Series D funding round, led by Hero MotoCorp, underscores growing investor confidence in India’s EV sector.

With continued support from key investors and a strong focus on expanding infrastructure and product innovation, Euler Motors aims to accelerate the adoption of commercial electric vehicles across the country.

IndusInd Bank signs MoU to support early-stage startups

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IndusInd Bank on Monday announced that it has entered into an agreement with AIC STPINEXT to offer essential financial solutions and structural support to early-stage startups and MSMEs.

AIC STPINEXT operates as a special purpose vehicle of the Software Technology Parks of India (STPI), functioning under the Ministry of Electronics and Information Technology (MeitY).

Under this collaboration, IndusInd Bank will deliver a range of tailored banking solutions to support early-stage startups associated with STPI/STPINEXT.

“The Bank will offer a specialized Current Account product with no quarterly average balance requirement, making it easier for startups to manage their finances,” IndusInd Bank said in a regulatory filing.

Additionally, the Bank will extend support by providing expert guidance and organizing workshops focused on financial management, covering topics such as banking fundamentals, equity infusion, Employee Stock Ownership Plans (ESOPs), segment-based funding, and more.

To further enhance operational efficiency, in addition, the Bank will provide early-stage startups with complimentary payroll and attendance management services at no extra cost.

Shares of IndusInd Bank were trading at ₹782.70 on the BSE, reflecting a marginal gain of 0.05% from the previous close.

IndusInd Bank’s strategic partnership with AIC STPINEXT marks a significant step towards empowering early-stage startups and MSMEs in India. Moreover, by offering tailored financial products, expert-led workshops, and free operational tools, the bank aims to foster innovation and, ultimately, drive sustainable growth in the startup ecosystem.
 

India remains critical growth market; startup ecosystem continues to expand: Salesforce

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Sanket Atal, Managing Director of Operations & Technology at Salesforce India

Salesforce continues to view India’s startup ecosystem as a key growth driver, especially amid the rapid adoption of artificial intelligence (AI). Arundhati Bhattacharya, President and CEO of Salesforce (South Asia), highlighted India as one of the most dynamic and engaged communities within the company’s global ecosystem.

Recently, the cloud-based software giant held the second edition of TDX Bengaluru, reflecting the increasing impact of India’s Trailblazer community — a diverse network of developers, administrators, architects, IT leaders, and customer-focused innovators. This community has now grown to over 3.9 million members across the country. Additionally, Salesforce’s Indian ecosystem comprises more than 900 partners and 128 active community groups nationwide.

Speaking on the sidelines of the event, Sanket Atal, Managing Director of Operations & Technology at Salesforce India, said that the country’s startup ecosystem is expanding at a rapid pace. “The community has now grown to more than 360, and it continues to expand. Most of these startups are adopters of Salesforce products and are actively building on top of our platform, including agent layers like AgentForce. Many are in the prototyping phase, eager to bring their ideas to market. Some have already listed products on our AppExchange,” Atal said, adding that more than a third of these startups are AI-based.

He also noted that India is now the world’s second-largest startup ecosystem, adding that Indian startups are fully on par with their global counterparts.

As technology continues to advance rapidly, Christophe Coenraets, Senior Vice President of Trailblazer Relations at Salesforce, stressed the need to equip more developers with practical, hands-on experience. “Last year, we went around the country. We had a program called AI Now Tour that became AgentForce Now Tour, which was essentially full-day hands-on workshops, and also to enable Indian developers with brand new technology. In addition to that, this community is incredible because it kind of self-organises. We have a lot of events that are led by people in the community, and the job of my team and Salesforce in general is to empower these people,” he stated.

At present, autonomous agents are responsible for generating 30% of the code at Salesforce, and the company anticipates this number could increase to as much as 50% by the end of the year.

Last year, Salesforce introduced Agentforce, its autonomous AI application developed to offer tailored support to both employees and customers. The tool functions across various communication channels and is capable of engaging in natural language conversations 24/7. It includes built-in security guardrails and can escalate issues to human staff when necessary. Additionally, Salesforce runs Trailhead, its online learning platform designed to help users enhance their skills.

Nvidia in advanced talks to invest in PsiQuantum

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Jensen Huang, Founder & CEO, Nvidia

Nvidia is reportedly in advanced discussions to make an investment in the quantum computing startup PsiQuantum.

Nvidia and PsiQuantum have declined to comment on the reported investment discussions.

Back in March, Reuters revealed that PsiQuantum is in the process of raising at least $750 million from investors, including BlackRock, at a pre-money valuation of $6 billion.

Quantum computing holds the promise of executing complex calculations that surpass the capabilities of even the most advanced AI systems powered by Nvidia chips. This emerging technology could pave the way for breakthroughs in areas such as cybersecurity, scientific research, and commercial innovation.

Nvidia’s potential investment marks a notable shift in its approach to quantum computing. In March, CEO Jensen Huang unveiled plans for a new quantum computing research center in Boston, which will collaborate with scientists from Harvard and MIT. This move contrasts with his earlier view that functional quantum computers were likely still two decades away.

PsiQuantum distinguishes itself from other quantum startups by utilizing standard semiconductor manufacturing processes instead of relying on unconventional materials.

The company is partnering with the governments of Australia and the United States to build two quantum computers—one in Brisbane and the other in Chicago—over the next few years.

Nvidia’s potential investment in PsiQuantum highlights its growing interest in quantum computing and advanced technologies. If finalized, the deal could significantly accelerate developments in the quantum space and strengthen Nvidia’s position in next-generation computing.

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