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Ex-Flipkart CTO Peeyush Ranjan joins Meraki Labs as partner

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Peeyush Ranjan, Partner, Meraki Labs

Meraki Labs, the venture studio founded by Mukesh Bansal, has appointed former Flipkart CTO Peeyush Ranjan as a Partner to help incubate next-generation technology startups.

Prior to this, Ranjan served as General Manager and Vice President of Engineering at Google, where he led the development of AI-powered products such as Google Assistant and contributed to the Gemini app. Additionally, he played a key role in scaling platforms like Google Pay and Google Workspace.

Now, at Meraki Labs, Ranjan will collaborate closely with entrepreneurs to shape their technology and product strategies. Furthermore, he will focus on building high-performing teams and driving scalable growth for the startups nurtured by the venture studio.

“With his deep product mindset and engineering leadership, he will play a key role in building new companies, leading our AI vision, and helping Meraki establish a strong presence in Silicon Valley. Peeyush has built many large-scale products from scratch, used by 100s of millions of people around the world and has a very strong pulse on emerging tech trends,” said Mukesh Bansal, Founder of Meraki Labs in a press note.

Last year, Nurix AI—an agentic AI startup incubated by Meraki Labs—secured $27.5 million in combined seed and Series A funding. The round was co-led by General Catalyst and Accel, with participation from Meraki Labs.

Nurix AI focuses on developing custom AI agents equipped with proprietary human-like voice capabilities and advanced reasoning, aiming to boost productivity and elevate customer experiences for global enterprises.

As part of his new role, Peeyush Ranjan will also join Nurix AI’s Board of Directors, further strengthening the company’s leadership as it continues to scale.

Peeyush Ranjan’s appointment as Partner at Meraki Labs marks a strategic move to strengthen the venture studio’s focus on building cutting-edge AI and tech-driven startups.

Sunil Mittal eyes $2 Bn deal for 49% stake in Haier India

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Sunil Mittal, Founder, Bharti Airtel Ltd.

Sunil Mittal is in advanced discussions to acquire a 49% stake in Haier India, according to sources familiar with the matter. The billionaire aims to capitalize on the growing demand for home appliances in India.

Mittal, the founder of Bharti Airtel Ltd., has partnered with private equity firm Warburg Pincus to purchase the stake in Haier Appliances (India) Pvt. for approximately $2 billion. Sources, who requested anonymity as the information is not public, mentioned that the deal could be finalized in a few weeks, pending necessary approvals.

However, discussions are still ongoing, and Haier may choose not to proceed with the sale. Additionally, other potential buyers could still emerge.

Representatives for Mittal and Warburg Pincus declined to comment, and Haier India did not respond to requests for comment immediately.

India’s Economic Times reported in October that Haier was considering selling a stake of between 25% and 49% in its Indian unit. By November, the company had attracted preliminary interest from potential investors, including Temasek Holdings Pte, GIC Pte, and Abu Dhabi’s sovereign wealth fund Mubadala Investment Co.

In its April 29 filing, Haier reported that its revenue in South Asia had grown by more than 30% in the first quarter compared to the previous year. Additionally, the company’s side-by-side refrigerators captured a 21% market share in India.

Sunil Mittal’s potential acquisition of a 49% stake in Haier Appliances (India) Pvt. highlights the growing appeal of India’s home appliance market, driven by rising demand and a competitive landscape. While discussions continue, with several potential investors showing interest, the deal could significantly shape Haier’s future in the South Asian region. As the market continues to expand, this move underscores the strategic importance of the Indian market for global players.

German FinTech Circula raises €15M to slash expense admin by 80%

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L-R: Nikolai Skatchkov and Roman Leicht, Co-founders, Circula

Berlin-based startup Circula raises €15 million in an extended Series A round to enhance its AI-powered expense management platform. With this funding, the company now plans to accelerate the development of autonomous finance workflows and, furthermore, expand the platform’s capabilities to better serve mid-sized businesses across Germany and Europe.

Returning investors—Alstin Capital, Capnamic Ventures, Peak Capital, Wenvest Capital, and Storm Ventures—participated in the round, joined by CIBC Innovation Banking, which also provided financial backing.

“We have a clear goal: to become Germany’s AI-based champion in expense and spend management for small and medium-sized businesses,” says Nikolai Skatchkov, CEO of Circula. “With hundreds of millions of euros in transaction volume, hundreds of thousands of active users, and the trust of countless tax advisory firms, we are in an ideal position to realize our vision of a seamless workday for finance teams in the coming years.”

Circula, founded in 2017 by Nikolai Skatchkov and Roman Leicht, delivers a modular SaaS platform that streamlines business expense management. Specifically, the platform features AI-powered receipt capture, automated tax-compliant data extraction, and real-time booking verification. As a result, it significantly simplifies and accelerates financial workflows for its users.

More than 2,800 companies—including Aston Martin, About You, DATEV, and Securitas—currently rely on Circula. Over 150,000 employees across Europe use the platform to manage travel expenses, per diems, credit card transactions, and employee benefits.

Circula reports that its customers reduce manual effort by 80% and accelerate their monthly closing cycles by several business days. These improvements offer a crucial advantage as businesses face economic uncertainty and increased pressure to cut costs.

Research from ERP provider Diamant clearly highlights the urgent need for digital expense solutions, revealing that only 8.8% of Germany’s mid-sized businesses have fully automated their expense workflows.

To address this gap, Circula leverages a mobile-first approach. Specifically, the platform captures over 70% of expenses at the point of occurrence, pre-books them with tax-relevant data, and, as a result, shortens billing cycles to fewer than two days.

Charlotte Goggin, Director of CIBC Innovation Banking, says: “Circula is transforming traditional paperwork into smart, AI-powered processes – setting new standards in digital expense management. We are excited to support this growth.”

The company attributes its success to consistent revenue growth and a disciplined focus on profitability—key factors that have enabled it to navigate the challenges of today’s unpredictable funding landscape.

With this latest infusion of capital, Circula now aims to further strengthen its AI capabilities and roll out additional automation features specifically designed to support finance teams.

Bosch Ventures launches $270 Mn fund targeting North American deep-tech startups

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Dr. Ingo Ramesohl, Managing Director, Bosch Ventures

Bosch Ventures has launched a new $270 million fund targeting deep-tech startups, with a notable shift towards investments in North American companies.

Established in 2007, Bosch Ventures is now managing its sixth fund. Although it operates globally, the firm is now placing greater emphasis on opportunities in North America.

This focus may appear surprising amid ongoing challenges like U.S. trade tensions with China, market instability, and economic uncertainty. However, according to Bosch Ventures’ managing director Dr. Ingo Ramesohl, the volume and quality of investment opportunities in North America remain exceptionally strong.

“I see a lot of positive energy,” Ramesohl said. “People are not stopping to innovate and not stopping to disrupt. So for me, it’s really a great time for new investments.”

The firm, which maintains offices in Silicon Valley, Boston, Germany, Tel Aviv, and China, generally invests between $5 million and $10 million per startup. According to Ramesohl, the new fund is expected to support approximately 20 to 25 such investments.

“This is basically a continuation of the success stories of the last funds,” Ramesohl said.

Bosch Ventures continues to back startups in key sectors such as automotive, climate technology, cybersecurity, semiconductor manufacturing, energy efficiency, and enterprise software. A growing priority for the firm is generative AI—particularly its application to real-world industries like manufacturing.

By the end of 2023, Bosch integrated artificial intelligence into the development or manufacturing of all its products. Ramesohl confirmed this achievement, emphasizing the company’s strong commitment to AI across its operations.

“Gen AI is changing a lot, and at the same time, it’s enabling a lot of new businesses, a lot of new innovations,” he said, noting that, in his view, the most promising applications of AI are in operations.

With its new $270 million fund, Bosch Ventures is doubling down on deep-tech innovation, with a strategic focus on North American startups. The firm actively invests in sectors like automotive, climate tech, and energy efficiency, while also advancing AI-driven applications in the physical world.

As Bosch integrates AI across all its product development and manufacturing, the venture arm is clearly positioning itself at the forefront of industrial and technological transformation.

High Time Foods raises $1.2 Mn in funding round led by Avaana Capital

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Damian Felchlin and Aakash Shah, Co-founders, High Time Foods

High Time Foods, a food-tech startup raises $1.2 million in a funding round led by early-stage investor Avaana Capital. Additionally, existing angel investors also participated in the round.

The company plans to use the capital to accelerate product development, strengthen its team, and scale partnerships across India, the US, and key emerging markets in the Global South.

“The focus is to truly establish a business in India. We will hire people with sales and culinary backgrounds. We also need to continuously develop new products and solutions. So, a good portion of that money will go towards building our food R&D team,” cofounder of High Time Foods, Damian Felchlin said.

Aakash Shah and Felchlin founded High Time Foods in 2022 in Bengaluru to develop shelf-stable, nutritious, and affordable plant-based protein products. The company actively combines ingredients such as pea, wheat, and mung bean proteins to create its offerings.

According to Shah, the product contains no water, which eliminates the need for cold chain logistics and allows easy transportation over long distances.

Initially launched in the US, the company has now shifted its headquarters to India following its recent funding round. Moving forward, India will account for approximately 25% of its business, while global markets will generate the remaining 75%.

“We’ve seen that 70% of our country is protein-deficient, and the current protein options are either too expensive or not well-suited to India’s infrastructure. That’s where we come in. Our product is highly affordable—we’re launching it at a price point similar to existing protein options like chicken and others currently available,” said Shah.

The business-to-business (B2B) company currently works with over 30 clients across the globe, including food manufacturers, educational institutions, dining services, and restaurants.

“In India specifically, our focus will remain on the Horeca segment and on selling to other food manufacturers. By the end of this year, we aim to have at least 50 different B2B partnerships in India alone,” Shah added.

The startup plans to target Africa next, as the region poses to contribute the most to global population growth.

Commenting on the investment, Shruti Srivastava, investment director at Avaana Capital, said, “High Time Foods is tackling one of the most urgent gaps in food systems today—affordable, scalable protein. Their shelf-stable innovation is built for real-world conditions, especially in markets where infrastructure can be a challenge.”

With its recent funding, global expansion plans, and commitment to affordable, sustainable nutrition, High Time Foods aims to disrupt the plant-based protein industry.

Infinx acquires i3 Verticals’ healthcare RCM business in $96 Mn deal

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Greg Daily, Founder and CEO of i3 Verticals

Infinx, a leading provider of AI-powered revenue cycle management (RCM) solutions, acquires the Healthcare RCM division of i3 Verticals, Inc.—along with its proprietary technology—for $96 million, subject to post-closing purchase price adjustments.

With this move, Infinx strengthens its presence in the healthcare RCM industry and strategically expands into new customer segments, including academic medical centers and large provider groups. Moreover, the acquisition adds an experienced team and a loyal customer base to Infinx’s operations. This further reinforces the company’s mission to deliver comprehensive, AI-driven financial lifecycle solutions that support healthcare providers across every stage of the revenue cycle.

“We’re thrilled to welcome the i3 Verticals Healthcare RCM team and their customers into the Infinx family,” said Jaideep Tandon, Executive Chairman and Co-founder of Infinx. “Their deep experience supporting academic medical centers and the strong relationships they’ve built over the years are an ideal complement to our technology-driven approach. By combining their trusted expertise with our AI-powered RCM Insights, patient access, and automation platforms, we’re excited to deliver meaningful financial and clinical outcomes for healthcare providers nationwide.”

Greg Daily, founder and CEO of i3 Verticals, stated, “Several years ago we set off to build a platform to deliver fantastic revenue cycle management solutions for the healthcare industry. We are proud of what we built and continue to believe that this is an attractive market. However, we also recognize that scale is important in revenue cycle management, and our future is in providing enterprise software solutions in other markets. We found a great partner, and our healthcare management team will be well positioned to accomplish great things with Infinx.”

Overall, the acquisition strongly supports Infinx’s long-term strategy to combine scalable technology with expert services across the entire revenue cycle—from patient access to accounts receivable optimization. As a result, it enables healthcare providers to boost revenue, streamline administrative processes, and ultimately enhance patient outcomes.

Infinx, founded in 2012, actively delivers AI-powered solutions that streamline the entire financial lifecycle for healthcare providers. It operates a cloud-based platform that integrates automation and artificial intelligence to drive efficiency. Furthermore, Infinx supports its technology with expert teams based in the U.S., India, and the Philippines, ensuring global service coverage and operational excellence.

With this acquisition, Infinx strengthens its position in the healthcare RCM market and accelerates its mission to provide end-to-end, AI-driven financial solutions. By combining advanced technology with deep expertise, Infinx continues to empower healthcare providers to optimize revenue, reduce administrative complexities, and deliver better patient outcomes.

Minor Hotels rebrands Oaks Hotels, Resorts & Suites

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Ian Di Tullio, Chief Commercial Officer, Minor Hotels

Minor Hotels has transformed Oaks Hotels, Resorts & Suites, shifting the brand from its traditional serviced apartment model to a full-service hotel, resort, and suites offering. This repositioning includes a renewed focus on service, distinctive operational features, and a refreshed brand identity aimed at enhancing its global appeal and setting it apart in a competitive hospitality market.

The brand’s new direction invites guests to “dive in” and enjoy the joy of travel. To bring this vision to life, Oaks has introduced unique brand elements, including mixed-use communal spaces. Additionally, grab-and-go pantries offer travel essentials and local products, blending convenience with local flavor. Integrated lobbies now serve barista-made coffee and baked goods, creating vibrant spots for guests and locals to connect.

Oaks has embraced a hospitality-first service culture to shape its new brand hallmarks. The team has launched a revitalized food and beverage program, focusing on communal, family-style dining. Each location also serves a signature gourmet lamington, crafted to reflect local flavors. In-room experiences now showcase the brand’s renewed energy, with premium bathroom amenities infused with a custom blend of citrus, lavender, and eucalyptus—carefully designed to uplift and refresh guests.

To promote restful sleep, guests can enjoy a curated nighttime ritual that includes soothing sounds and evening snacks. Moreover, wellness remains a key focus; guests can access yoga and meditation classes through in-room televisions. Additionally, select properties offer sunrise swims and running clubs to encourage active, mindful mornings.

The reimagined brand identity features a bold new logo and a vibrant color scheme, including a signature yellow and the iconic Oaks stripe. Interior design elements emphasize rich layers of color and pattern, complemented by warm timber finishes, calming neutrals, and abundant indoor greenery that blurs the line between indoor and outdoor spaces. These new brand applications and experiential hallmarks aim to deliver a cohesive and unmistakably Oaks guest experience.

Ian Di Tullio, Chief Commercial Officer, Minor Hotels, commented, “The strategic repositioning of Oaks marks a pivotal step in elevating our position in the market. With our revitalized service culture and addition of lifestyle elements to contemporize our offer, we’re creating a more resonant brand experience for today’s travelers. In a sector that has remained largely undifferentiated, the transformation repositions Oaks for global growth, further strengthening confidence amongst our investors and developers.”

Dillip Rajakarier, Group CEO of Minor International, added, “This repositioning marks a significant step in the continued evolution of a brand that has earned its place in the hearts of travelers for more than 33 years. As we build on that legacy, we’re focused on creating meaningful, experience-led travel destinations meeting the needs of both our corporate and leisure guests. With over 55 Oaks properties and growing, this transformation reflects our long-term vision for sustainable growth and reinforces our commitment to delivering world-class hospitality.”

Minor Hotels is transforming Oaks Hotels, Resorts & Suites into a full-service brand with a fresh look and feel. With a focus on design, wellness, and local experiences, the new Oaks is set to offer a more engaging and memorable stay as these changes roll out across its properties.

PB Fintech raises $218 Mn for new hospital venture in India

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Yashish Dahiya, Co-founder, Chairman and Group CEO, PB Fintech

Policybazaar’s parent company, PB Fintech, announced on Thursday that it has secured $218 million in seed funding for its newly launched healthcare venture, PB Health. This move marks the company’s foray into India’s rapidly expanding healthcare sector.

Chairman Yashish Dahiya said the company will use the funds to build four to five hospitals in the New Delhi region by 2027 and aims to expand the network to 25 to 30 hospitals across 10 major Indian cities in the long term.

The funding round includes a $50 million investment from Silicon Valley-based General Catalyst, which previously led a $340 million round in Mumbai’s quick commerce startup Zepto and is also an investor in Indian startups like Cred and Spinny.

Policybazaar is India’s leading insurance aggregator, offering health, life, and motor insurance products on behalf of various insurance providers.

“Providing quality affordable healthcare in India is a complex challenge. We believe one way to tackle this issue is through the world of insurance,” Dahiya said.

PB Fintech is committing an initial investment of approximately $62 million; consequently, it will secure a 26% stake in PB Health, according to chairman Yashish Dahiya. However, he did not disclose the identities of the other shareholders.

A report by EY and IVCA states that private investors poured $3.2 billion into 84 private equity and venture capital deals in India’s healthcare sector in 2024, up from 62 deals worth $5 billion in 2023.

“We believe India has a unique opportunity to leapfrog legacy models and build a resilient, inclusive health assurance system,” Neeraj Arora, MD of General Catalyst said in a statement.

This investment follows General Catalyst’s expansion in India last year, when it merged with local venture firm Venture Highway and allocated between $500 million and $1 billion for new investments in the country.

PB Fintech’s entry into the healthcare space with PB Health marks a strategic diversification beyond insurance. By leveraging the momentum in India’s booming private healthcare sector, the company is expanding its footprint into a high-growth industry. Furthermore, backed by substantial funding and prominent investors like General Catalyst, the venture is well-positioned to make a significant impact on India’s medical infrastructure in the coming years.

Interior design startup Flipspaces raises $35M in a funding round

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Flipspaces, a startup offering design and construction solutions for commercial spaces, has secured $35 million (approximately Rs 297 crore) from investors to support its expansion efforts.

In a statement released on Wednesday, the company said it has “raised $35 million in primary and secondary capital, led by tech growth investor Iron Pillar and supported by existing backer, Prudent Investment Managers, and incoming Synergy Capital.”

The newly secured funds will accelerate its growth in India, the US, and the UAE, enhance the company’s technology capabilities, and explore inorganic growth opportunities in new markets and adjacent sectors.

Flipspaces offers a fully integrated, technology-driven design and build solution tailored specifically for small and medium business (SMB) spaces. This segment represents around 60% of the total commercial interior design and build market, highlighting the company’s strategic focus on a significant share of the industry.

“We are building a technology-led brand aimed at transforming the customer experience in commercial design and build globally. Our conviction lies in scaling with both speed and sustainability, driven by a replicable, tech-powered delivery model that balances growth with profitability,” said Kunal Sharma, founder and CEO of Flipspaces.

Flipspaces has achieved a compound annual growth rate (CAGR) of over 65% over the past four years, maintaining profitable operations. The company has delivered more than 8 million square feet of commercial space for over 1,000 brands across India and the US.

Additionally, the funding round saw early-stage investor Carpediem exit, marking a key transition in the company’s growth journey.

With impressive growth and a strategic focus on SMB spaces, Flipspaces aims to further expand its footprint in the commercial design and build market. The successful funding round, coupled with its strong performance across India and the US, signals the company’s continued commitment to innovation and growth.

Ramee Group expands hospitality portfolio with new hotel signing in Rajkot

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Ramee Group of Hotels has unveiled plans for a new hotel project in Rajkot, Gujarat, a city recognized as one of Western India’s fastest-growing urban hubs.

The upcoming property will offer 90 stylishly designed rooms, versatile banqueting facilities, and two unique restaurant concepts, aiming to serve both business and leisure guests.

This development represents a key milestone in Ramee Group’s ongoing strategy to expand its footprint in Tier II cities. Moreover, it highlights the brand’s strong commitment to delivering high-quality hospitality experiences in emerging markets. In collaboration with renowned entrepreneur Bhupat Bodar, who brings valuable local expertise, the project aims to further elevate Rajkot’s growing hospitality landscape.

Scheduled for completion in 2027, the hotel will emphasize modern luxury, sustainable design, and community engagement, reflecting the core brand values of Ramee Group of Hotels.

Commenting on the partnership, Saurabh Gahoi, Senior Vice President of Ramee Group of Hotels, said, “Rajkot is a dynamic city with immense economic growth and cultural vibrancy. We are thrilled to bring a premium hospitality offering to this important market. This project reflects our confidence in the region’s future and our vision to create exceptional experiences for our guests. We look forward to building a landmark destination together with Mr. Bhupat Bodar.”

Speaking on the occasion, Bodar said, “Partnering with Ramee Group of Hotels is a proud moment for us. Their strong brand reputation, operational expertise, and guest-centric approach perfectly align with our ambitions for this project. We are excited to create a hotel that will set new standards for hospitality in Rajkot and contribute to the city’s thriving economy.”

With its new hotel project in Rajkot, Ramee Group of Hotels continues to strengthen its presence in India’s growing Tier II markets. By combining modern luxury, sustainability, and local collaboration, the group aims to set new benchmarks in hospitality while contributing to Rajkot’s evolving urban landscape.

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