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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.

SpaceBasic’s Vision for the Future: Revolutionizing Campuses with Smart Campus Solutions

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Madhavi Shankar, Co-founder & CEO, SpaceBasic

In an era where universities are moving beyond traditional infrastructure, Madhavi Shankar is at the forefront of revolutionizing student life through smart campus solutions. As the Co-founder and CEO of SpaceBasic, Asia’s largest AI-powered platform for student housing, cafeteria management, and smart ID automation, Madhavi is transforming how campuses operate—making them smarter, more efficient, and better equipped to meet the needs of today’s students.

Recognized globally as a Forbes Asia 30 Under 30 honoree and Entrepreneur India’s Under 35 leader, Madhavi has also been celebrated by the Government of India and the United Nations as one of the 30 Women Transforming India. But beyond accolades, it’s her product-first mindset and unwavering focus on solving real-world problems that sets her apart.

In this exclusive interview with Business Review Live, Madhavi dives into how SpaceBasic is unlocking 3x cost savings and 5x operational efficiency for universities, while staying true to its core mission—empowering student success through technology that feels intuitive, not invasive. From scaling across geographies to embedding sustainability into the digital backbone of campuses, her vision for smart campus solutions is reshaping higher education from the ground up.

1. SpaceBasic has become a game-changer in campus automation. What were the early indicators that convinced you this was not just a product but a scalable solution with the potential to redefine student living and learning infrastructure in Asia? 

The inspiration behind SpaceBasic came from the everyday chaos I witnessed on campuses. Students were queuing for hours just to submit a form or request a room change. At the same time, administrators were buried in spreadsheets, phone calls, and paper logs. Campus operations clearly weren’t built to scale.

As we dug deeper, we discovered a critical insight—over 80% of universities across Asia used minimal or no digital tools outside the classroom. While the rest of the world was embracing digital transformation, campus life remained stuck in outdated systems.

That insight drove us to launch our first pilot. The response exceeded expectations. Students quickly adopted the platform and began using it daily. More importantly, university staff—initially hesitant—soon asked for more automation. This behavior shift proved that SpaceBasic wasn’t just solving a pain point; it was enabling real change.

Today, SpaceBasic powers campus operations for over 500,000 users across Asia. What began as a solution for operational chaos has evolved into a powerful platform redefining how students live, learn, and connect within campus ecosystems.

2. Given your platform’s deep integration with AI, how do you ensure that automation enhances—not replaces—human decision-making in academic and residential ecosystems? What role do you foresee AI playing in shaping the future of student experiences?

At SpaceBasic, we’re very intentional about how we use AI. It’s not meant to replace human decisions—it’s here to eliminate repetitive tasks and free up time for what truly matters.

For example, AI handles room allocation and occupancy tracking with ease. Instead of using spreadsheets or relying on word-of-mouth, our system predicts vacancies, flags double bookings, and suggests the best room assignments based on student preferences. In food management, AI uses real-time consumption data to plan meals, reduce waste, cut costs, and adapt to dietary habits.

But humans remain at the center of it all. Administrators receive smart suggestions—not fixed instructions. AI acts as a support system, helping staff focus on student wellbeing instead of routine operations.

Looking ahead, we believe AI will drive more personalized and responsive student experiences. From promoting healthier habits to optimizing campus resources, AI will help ensure no student is left behind. It’s all about building smarter, more human-centered campuses.

3. With users spanning India, Malaysia, and Vietnam, how do you adapt your product to meet region-specific challenges in infrastructure, tech readiness, and student behavior while maintaining a unified platform experience?

While core campus challenges—like manual processes, poor communication, and outdated systems—are common across Asia, how they appear varies by country. The issues we see in India are not always the same in Malaysia or Vietnam.

That’s why we built SpaceBasic to be modular. The core platform stays the same, but universities can activate features based on their digital readiness—whether that’s enabling online payments, integrating student IDs, or automating housing operations.

We also invest heavily in understanding local student behavior. From food preferences and device usage to how students interact with campus staff, these insights help us design workflows that feel natural and intuitive for users.

At the same time, we ensure a consistent user experience. Whether a student is in Delhi or Da Nang, using SpaceBasic should feel equally seamless and familiar. It’s about being regionally relevant while maintaining a unified, global standard—and we’re constantly evolving to do it even better.

4. As universities increasingly look to tech platforms to support holistic student success, how does SpaceBasicstrike a balance between operational automation and building meaningful engagement within the student community?

At SpaceBasic, our mission goes beyond automation—we aim to simplify campus life through a single, integrated platform that brings daily operations and communication together.

By automating key functions like housing, cafeteria management, payments, and access control, we give students and staff back their time. With the basics running smoothly, campuses can focus on what really matters—community, wellbeing, and meaningful connections.

Once routine admin work fades into the background, campuses can truly engage students using feedback tools, event features, real-time collaboration, and smart notifications. When staff stop firefighting and start focusing on experience, the entire campus environment transforms.

That’s the real impact of automation—and that’s the layer SpaceBasic is proud to enable.

5. Sustainability is becoming integral to campus operations. How does SpaceBasic contribute to universities’ green goals, and what innovations are you exploring to make student housing and cafeterias more sustainable through data insights and automation?

Sustainability is no longer a choice—it’s a necessity. At SpaceBasic, we believe technology can drive that change across campuses.

Our platform helps universities reduce waste and optimize resources using automation and real-time data. In cafeterias, we track consumption patterns to cut food waste and align meal planning with actual demand. Some campuses have reduced overproduction by up to 30% just through better visibility.

In student housing, we’re developing tools that monitor occupancy trends and utility usage. These insights help campuses improve room allocations and lower energy consumption. Our smart access control also limits unnecessary movement, making buildings more efficient.

Looking ahead, we’re building advanced sustainability dashboards. These will allow universities to track their carbon footprint across housing and dining in real-time—and act on it. At SpaceBasic, we’re focused on making sustainability practical. We help campuses go green—without adding complexity.

6. Universities, especially in Asia, can be complex when it comes to procurement and adopting new tech. What have been the biggest hurdles in driving adoption of SpaceBasic, and how have you tackled resistance to change among institutions?

One of the biggest challenges we’ve faced is institutional inertia. Many campuses still rely on outdated systems and manual workflows, making change feel risky or overwhelming.

At SpaceBasic, we tackle this by starting small. We focus on solving one clear pain point—like room transfers or meal planning—and deliver quick, visible results. Once teams see the value, they’re more open to scaling the solution.

We also work hand-in-hand with campus staff during onboarding. It’s not just about rolling out software—it’s about making the transition smooth and supportive. By co-creating workflows and keeping the platform user-friendly, we reduce resistance and build trust. Ultimately, adoption happens when technology feels like a helping hand, not another hurdle. That’s the experience we strive to deliver.

7. You speak about 3x cost savings and 5x operational efficiency. Could you unpack how you measure this impact and how those metrics have evolved with the platform’s growth?

When we mention 3x cost savings and 5x operational efficiency, it’s not just marketing—it’s based on real results from our partner universities.

SpaceBasic helps cut costs by reducing food waste, minimizing manual work, and replacing outdated, paper-based processes. For instance, one university using our cafeteria module lowered food overproduction by nearly 30% by syncing meal planning with real-time student attendance and preferences. That not only saves money but also supports sustainability goals.

On the efficiency front, tasks like room assignments, check-ins, and maintenance requests now take minutes instead of days. Some campuses have seen up to an 80% drop in admin workload for key processes.

As more data flows through the platform, our AI and analytics continuously improve. We also provide each university with an impact dashboard to track real-time savings and efficiency gains. At its core, it’s not just about numbers—it’s about removing friction, saving time, and helping campuses shift focus back to what truly matters: the student experience.

8. Post-pandemic, there’s a growing focus on hybrid and resilient educational infrastructure. How do you see digital-first platforms like SpaceBasic influencing the design and operation of future campuses—from planning to day-to-day management?

The pandemic changed how universities view infrastructure. It’s no longer just about buildings—it’s about how flexible and responsive those spaces are.

Digital-first platforms like SpaceBasic now form the backbone of modern campuses. We’re not just integrating into legacy systems; we’re reimagining how campuses operate. Real-time data on room occupancy, cafeteria usage, and student flow empowers universities to plan smarter—optimizing space, energy, and staffing.

Operationally, it’s about building resilience. Whether students are learning on-site or remotely, SpaceBasic keeps housing, access, payments, and communication running seamlessly—ensuring continuity through any disruption.

Looking forward, campuses won’t just add tech—they’ll be built around it. With automation, AI, and real-time insights at their core, universities can become more student-focused, sustainable, and future-ready.

9. As SpaceBasic expands across countries, how do you ensure that rapid scaling doesn’t compromise your core mission of empowering student success and operational sustainability?

At SpaceBasic, scalability is fundamental—but we believe true growth should never compromise our mission: supporting student success and driving operational sustainability.

Our platform is modular and API-first, enabling universities to customize their experience while preserving a consistent, unified interface. This design allows us to expand rapidly across geographies—like India, Malaysia, and Vietnam—without sacrificing value or adding unnecessary complexity.

To maintain quality, we’ve built robust onboarding and customer success systems that ensure every institution sees real, lasting benefits—not just new features. Our key performance indicators focus on adoption, engagement, and retention—not just revenue growth.

What truly powers our scale is real-time feedback and data. Each new campus enriches our platform, allowing us to improve performance and usability with every deployment. That’s the power of SaaS done right.

For us, scaling isn’t about vanity metrics—it’s about delivering measurable, meaningful outcomes at every step.

10. As a woman entrepreneur in the deep-tech and education space, what unique perspectives or approaches have you brought to leadership, and how do you see your role in inspiring the next generation of women innovators?

At SpaceBasic, I’ve always taken a product-first approach—rooted in solving the real, everyday challenges faced by students and campus teams. This means listening closely to user feedback, simplifying complex workflows, and building technology that’s intuitive, human-centered, and impactful. For me, innovation is only meaningful when it creates tangible change—and that’s what drives long-term success in education technology.

To the next generation of innovators—especially women—I want to share this: you don’t need to be the loudest voice in the room to lead with strength. Purpose-driven leadership, constant curiosity, and surrounding yourself with people who challenge and inspire you—that’s what creates resilient, visionary teams. These values have shaped my journey, and they’re the kind of leadership principles I strive to live by every day.

Amazon’s Zoox to ramp up robotaxi production for U.S. expansion

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Jesse Levinson, Co-founder & CTO, Zoox

Amazon’s autonomous vehicle startup Zoox plans to boost production next year as it prepares for the commercial launch of its robotaxi fleet in the United States.

To support this expansion, Zoox will open a new facility in California’s Bay Area, extending its operations beyond its current limited production site in Fremont, co-founder Jesse Levinson stated.

The new site will enable the startup to scale up its fleet, which currently includes around two dozen custom-designed test vehicles operating in six U.S. cities, Levinson added.

The company aims to begin offering public rides in Las Vegas later this year, with San Francisco to follow. The new facility will help Zoox get “ready to make hundreds and then thousands” of its custom-built robotaxis.

Automakers such as Tesla and Waymo, a subsidiary of Google, are actively developing autonomous vehicles for the growing robotaxi market. In the past, U.S. auto regulators have launched investigations into self-driving systems used by GM’s Cruise, Waymo, and Zoox.

As competition in the autonomous vehicle sector intensifies, Zoox’s expansion efforts signal Amazon’s strong commitment to entering the robotaxi market. With plans to scale production and launch public rides in major U.S. cities, the startup is positioning itself as a key player in the future of urban mobility—despite ongoing regulatory scrutiny facing the industry.

CYSEC MENA 2025: Bahrain Set to Host 15th Global Edition of Premier Cybersecurity Summit

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Manama, Bahrain : As MENA continues its rapid digital advancement, the focus on building secure, resilient, and future-ready IT and OT ecosystems has become a key national and industry priority. In line with this vision, CYSEC GLOBAL returns with its 15th Global Edition — CYSEC MENA 2025, set to take place on 14th May at the Crowne Plaza in Manama, Bahrain.

With a legacy of high-impact editions across the UAE, Kuwait, Oman, Qatar, and Africa, CYSEC MENA 2025 will bring together cybersecurity visionaries, government leaders, IT/OT experts, and critical infrastructure operators for meaningful conversations and cross-sector collaboration. The focus will remain on securing national digital priorities in energy, oil & gas, transportation, utilities, and manufacturing.

Some of the notable voices joining the dialogue include

·       Mubashir Malik – Head of GRC, NEOM

·       Surjeet Mahant, VP Cybersecurity, BAPCO Energies

·       Hisham Mohamad Amin, Assistant Director of Risk Management & Information Security, Bahrain Bourse 

·       Dr. Mussab Z. Aswad, Academic VP, Nasser Centre for Science and Technology

·       Dr. Mustafa Hasan Qurban—ICT Director, King Fahd Military Medical Complex

·       Ali Alzahrani – Cybersecurity GRC Manager, Saudi Electricity Company

·       Mohammed AlAbdulkarim – GM, Enterprise Resilience, Royal Commission for AlUla

·       Abdulatif Alrushaid—Cybersecurity GM, Ministry of Industry and Mineral Resources

·       Ziad Yunis – CISO, SGB

·       Hind M. Al-Boainain—Senior IT Executive, Bahrain EDB

·       Ziauddin Ansari, Head of Group Cyber Defense, Ahli United Bank

·       Hossam Yusuf, Principal, Information Security Officer, Arcapita 

View the full speaker list here: https://drive.google.com/file/d/1Ijk_VcVFZzTEMX_CJJkHwKhbEZxnVz5D/view

Key Partners:

CYSEC MENA 2025 is proud to be supported by leading regional and global organisations, including

·       Regional Cybersecurity Center – Regional Cybersecurity Partner

·       ISACA Bahrain Chapter, CREST, Women in Cybersecurity Middle East (WiCSME)—Supporting Partners

·       Nasser Centre For Science and Technology—Knowledge Partner

Industry Sponsors Include:

The summit is backed by cybersecurity pioneers and innovators such as
TxOne Networks, Delinea, KRON, Paratus, ThreatLocker, ManageEngine, Netskope, Waterfall Security, and Citadel.

Media amplification and event coverage will be supported by respected platforms including

ZexPR Wire, Mid-East Info, Arab Times News, Shabab Times, and Gazette International, among others.

The event will also host the prestigious CYSEC Awards 2025, recognizing organizations, leaders, and innovators who are setting new benchmarks in cybersecurity and technology excellence across the region. From outstanding cybersecurity strategies to pioneering IT/OT protection frameworks, the awards will spotlight the individuals and institutions shaping the future of digital resilience.

Another major highlight will be SHELEADS: Technology and Beyond, a dedicated platform celebrating women leaders across the broader technology spectrum. SHELEADS will showcase inspiring journeys, ignite conversations around leadership, and drive momentum towards a more inclusive tech industry, well beyond just cybersecurity.

For more details about CYSEC MENA 2025, please visit: https://mena.cysecglobal.com/,

or register directly at https://mena.cysecglobal.com/register/

Uber to acquire controlling stake in Trendyol GO for $700 Mn

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Uber has announced plans to acquire an 85% controlling stake in Turkey-based food and grocery delivery platform Trendyol Go for $700 million, marking a strategic move to fuel growth in emerging markets as its North American business shows signs of saturation.

The deal, expected to close in the second half of 2025, will give the company control over a platform that currently operates nationwide, delivering meals and groceries from over 90,000 restaurants and stores through a network of 19,000 couriers.

In 2024 alone, Trendyol Go fulfilled over 200 million orders, generating nearly $2 billion in gross bookings—a 50% year-over-year increase, according to Uber’s statement on Tuesday.

Although the Trendyol Go app will continue to operate independently, Uber aims to gradually integrate features from its Uber Eats platform, enhancing its service offerings in the region.

This acquisition comes shortly after the transportation company withdrew its $950 million bid to acquire Delivery Hero’s Foodpanda Taiwan, following regulatory pushback and antitrust concerns from Taiwanese authorities.

Meanwhile, competition in the global food delivery market continues to intensify. On the same day, DoorDash announced its acquisition of Deliveroo in a deal valued at £2.9 billion ($3.85 billion), aiming to strengthen its foothold in Europe against rivals like Just Eat and Uber Eats.

As Uber prepares to report its first-quarter earnings on Wednesday, the company is emphasizing diversification—expanding delivery services and forging partnerships in autonomous vehicle technology—to reassure investors of its long-term growth prospects.

Uber’s $700 million acquisition of an 85% stake in Trendyol Go underscores its commitment to expanding beyond core markets and strengthening its global delivery footprint.

By entering Turkey’s rapidly growing delivery sector, the company not only diversifies its revenue streams but also positions itself strategically against intensifying competition from players like DoorDash. As the company eyes sustained global growth, this move signals a broader push to capture emerging market potential and adapt to shifting industry dynamics.

Brookfield India REIT posts strong Q4 FY25 with Rs 488.5-Cr NOI, up 16% YoY

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Alok Aggarwal, CEO and MD of Brookfield India Real Estate Trust

Brookfield India Real Estate Trust reported a 16% year-on-year increase in net operating income (NOI), reaching Rs 488.5 crore for the quarter ending March. In the same period last year, its NOI stood at Rs 422 crore.

The company also declared a distribution of Rs 319.1 crore (equivalent to Rs 5.25 per unit) to unitholders for the March quarter, reflecting a 10.5% rise compared to the fourth quarter of FY24, as per its regulatory filing.

For the full fiscal year 2024-25, Brookfield India REIT’s NOI rose by 37%, climbing to Rs 1,854 crore from Rs 1,350 crore in the previous year.

The company announced total distributions of Rs 1,053.7 crore (Rs 19.25 per unit) for the last fiscal year, marking an 8.5% increase compared to the 2023-24 financial year.

“Our fiscal 2025 has been a remarkable all-round performance, delivering strong leasing, double-digit same-store growth, higher distributions, and a marquee acquisition,” said Alok Aggarwal, CEO and Managing Director, Brookfield India Real Estate Trust.

“Our Rs 47 billion of capital issuance reflects investor confidence in our long-term strategic vision. With 2 million square feet of ongoing conversions in our SEZ properties and a robust leasing pipeline, we are well-positioned for sustained growth over the next year,” he added.

Brookfield India Real Estate Trust secured gross leasing of approximately 3 million square feet, comprising 2.2 million square feet of new leases and 0.8 million square feet in renewals.

Over 50% of the leasing activity took place in SEZ properties, reflecting a steady recovery in demand, according to the company.

Brookfield India REIT currently manages 10 Grade A assets across Delhi, Mumbai, Gurugram, Noida, and Kolkata.

Brookfield India Real Estate Trust continues to show strong performance, with significant growth in net operating income, strategic leasing activity, and increased distributions to unitholders. The company’s focus on high-demand sectors such as SEZ properties and its portfolio of Grade A assets in key Indian cities positions it well for sustained growth in the coming years.

Minimalist Hotels to open 20 new properties across India in an expansion drive

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Gautam Munjal, Founder of Minimalist Hotels

Minimalist Hotels has unveiled its plans to launch 20 new properties over the next two years, strengthening its footprint in both established and emerging destinations including Varanasi, NCR, Rajasthan, Goa, Mumbai, Uttarakhand, and Chandigarh. To support this expansion, the company is looking to raise Rs 20 crore.

This initiative supports the projected growth of India’s hotel industry, which analysts expect to rise from $15.67 billion in 2024 to $22.41 billion by 2030, achieving a compound annual growth rate of 9.32%. Moreover, boutique and mid-scale lifestyle hotels in Tier 1 and Tier 2 cities are set to lead this expansion, driven by a surge in domestic tourism, higher disposable incomes, and the increasing popularity of Bleisure travel.

Commenting on the expansion, Gautam Munjal, Founder of Minimalist Hotels, said, “At Minimalist Hotels, our vision is to redefine the lifestyle hotel experience by blending minimalism with design, functionality, and local culture with global sensibilities. With the steady growth in tourism, we see a meaningful opportunity to extend our presence and offer thoughtfully curated hospitality to more travelers seeking comfort, authenticity, and a sense of connection.”

The hotel, which currently operates across 2,00,000 sq ft, plans to expand by an additional 7,00,000 sq ft, bringing its total footprint close to one million sq ft.

The new properties will continue to reflect the brand’s signature Japandi-inspired aesthetic, blending Japanese minimalism with Scandinavian functionality.

Minimalist Hotels has hosted over 1.5 lakh guests to date and earned a reputation for delivering curated experiences such as music nights, fitness clubs, and co-working hubs.

The brand’s in-house café, FIKA Coffee Co., blends local flavors into a unified design aesthetic. Additionally, it hires 50% of its staff from local communities to strengthen cultural authenticity.

Minimalist Hotels aims for significant growth with its expansion plans, aiming to nearly quintuple its footprint and strengthen its presence across key Indian markets. By staying true to its Japandi-inspired design, promoting cultural authenticity through local hiring, and offering curated guest experiences, the brand is aims to capitalize on the rising demand for boutique lifestyle stays in India’s booming hospitality sector.

DoorDash to acquire Deliveroo in $3.9 Bn deal to expand UK presence

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Claudia Arney, Chair, Deliveroo

U.S.-based meal delivery company DoorDash has agreed to acquire British competitor Deliveroo for £2.9 billion ($3.85 billion), as both firms aim to expand their market presence and tackle rising competition. The companies resumed discussions last month after DoorDash submitted a proposal of 180 pence per share, which they confirmed on Tuesday as the final offer.

Earlier talks had broken down due to disagreements over Deliveroo’s valuation. DoorDash stated it does not plan to raise the offer but retained the right to revise it if a competing bid emerges.

The acquisition will strengthen DoorDash’s market share in Europe, positioning it to better compete with Just Eat and Uber Eats. Deliveroo’s core market—Britain and Ireland—accounted for 62% of its order value in the most recent quarter. Combined, Deliveroo and DoorDash recorded order volumes worth around $90 billion in 2024.

Deliveroo’s major markets also include France and Italy. However, the deal is unlikely to encounter regulatory challenges since DoorDash currently has little to no presence in any of Deliveroo’s 10 operating markets. Deliveroo’s stock has faced difficulties since its 2021 market debut, which came during a pandemic-driven surge in demand for meal delivery services.

“Following careful consideration, the Deliveroo Independent Committee has unanimously decided to recommend this offer, considering it to be in the interests of all our shareholders and wider stakeholders,” its Chair Claudia Arney said in a statement.

The acquisition of Deliveroo by DoorDash marks a significant move in the global food delivery industry, allowing DoorDash to strengthen its foothold in Europe without triggering major regulatory concerns. With a combined order volume of $90 billion in 2024 and minimal market overlap, the merger sets the stage for intensified competition with players like Just Eat and Uber Eats across key European regions.

Cold chain startup Celcius Logistics secures Rs 250-Cr in funding round

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L-R: Swarup Bose, Rajneesh Raman, Arbind Jain, Co-founders, Celcius Logistics

Celcius Logistics, a cold chain logistics startup, has secured Rs 250 crore in a Series B funding round aimed at expanding its cold chain infrastructure and enhancing its technology platform.

The round included a mix of equity, debt, and secondary transactions. Eurazeo and Omnivore co-led the equity funding, while IvyCap Ventures returned as an investor. Trifecta Capital, Lighthouse Canton, BlackSoil, UCIC, and GetVantage provided the debt funding.

“This funding comes at a pivotal time,” said Swarup Bose, founder and CEO of Celcius Logistics. “We’re scaling our operations, strengthening our verticals, and targeting expansion into over 1,000 cities.”

This latest capital infusion comes on the heels of a Rs 40-crore pre-Series B round raised in May 2024, bringing Celcius’ total funding to Rs 390 crore since its launch in 2020.

According to Bose, the company aims to create India’s most comprehensive and technology-driven cold chain ecosystem—an area long plagued by fragmentation, inefficiencies, and high spoilage rates of perishable goods.

Celcius Logistics initially focused on the transport of frozen foods but recently expanded into pharmaceutical logistics, a move Bose calls a “natural evolution” driven by demand. “When we started in 2020, it was right in the middle of COVID. That made the inefficiencies of the cold chain industry really apparent. We realized early that pharma—like vaccines and insulin—would need far more reliable cold chain infra,” he said.

Celcius Logistics reports having a nationwide network that includes over 4,000 refrigerated vehicles, more than 150 cold storage and distribution centers, and a fleet of over 250 hyperlocal delivery riders. “We are already in 600 cities. The Series B funding will take us to 1,000-plus. We want to ensure that if you’re in a Tier III town and you need a temperature-sensitive delivery, we can do it,” said Bose.

Bose highlighted that Celcius Logistics built its entire technology stack in-house, including its proprietary Transport Management System, Warehouse Management System, and Inventory Management System. “From day one, we’ve been a tech-first company. All the software has been built internally—never outsourced,” he said.

He also said that the company’s long-term goal is to offer this tech platform as a subscription-based SaaS solution, targeting both Indian and international markets.

“We are building a cross-operational platform that integrates transport, warehousing, inventory, dispatch, and last-mile distribution into one system,” he explained. “Once we hit a certain level of integration—including backward integration into ERPs like SAP—we plan to white label the platform for use by other logistics companies and clients.”

Bose also suggested that the upcoming product will feature AI and blockchain capabilities, which are particularly valuable in pharmaceutical logistics, where security, traceability, and real-time monitoring are essential.

“AI was not feasible for us in the beginning due to lack of data, but now with three to four years of operational data, we’re actively working to embed AI in routing and efficiency,” said Bose.

A key initiative that closely aligns with the company’s mission is its ‘New Age’ business vertical, introduced in 2024, which aims to address logistics challenges for small and regional D2C brands across India. “We realized there are thousands of businesses in India—snack brands, ice cream makers, sweet shops—that want to go national but don’t have access to cold chain infra at scale,” Bose added.

Celcius is currently partnering with more than 160 small D2C brands and anticipates significant growth in this segment during FY25. “This segment is entirely underserved. We’ve built a system that allows micro-quantities to move efficiently while offering warehousing and delivery all through our existing network,” he said.

Celcius Logistics is positioning itself as a frontrunner in India’s cold chain logistics space with its tech-first approach, nationwide infrastructure, and focus on underserved segments like small D2C brands. With fresh funding, proprietary technology, and ambitious expansion plans, the company aims to redefine temperature-controlled supply chains both in India and globally.

Employer.com acquires MainStreet.com in latest fintech takeover

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Jesse Tinsley, Founder and Chairman, Employer.com

Employer.com acquires MainStreet.com for an undisclosed sum, marking the latest fintech startup to be absorbed by the workforce management firm.

Announcing the deal on X, Employer.com Chairman and co-founder, Jesse Tinsley stated that the two companies were “merging forces to simplify business back office solutions into one powerhouse platform.”

MainStreet.com, a San Jose, California-based startup founded in 2019, helps startups identify research and development tax credits. It generates revenue by taking a share of the credits it uncovers for clients.

The company gained early momentum, surpassing a $1 million annual recurring revenue (ARR) run rate in its first year and helping the average client save $51,000. By 2021, it had grown its revenue to over $15 million.

Warning signs emerged in 2022 when MainStreet laid off approximately 30% of its workforce, citing “an incredibly rough market.” At its peak in 2021, investors valued the company at $500 million. Reports said it raised funding in 2022 at a reduced valuation of $200 million.

MainStreet’s exact financial position leading up to the acquisition remains unclear, though Tinsley stated that the company remained profitable. Over time, MainStreet raised roughly $75 million in known venture funding from backers such as SignalFire, Tusk Ventures, Shrug, Moxxie Ventures, Weekend Fund, Gradient Ventures, Sound, and SV Angels.

According to Tinsley, one of the MainStreet’s investors facilitated the introduction to Employer.com.

The acquisition, Tinsley added, has pushed Employer.com’s valuation to just over $700 million.

The San Francisco-based company has been actively acquiring startups in recent months.

In late 2024, Employer.com revealed that it was purchasing Bench, a VC-backed accounting startup that had abruptly shut down, leaving thousands of customers locked out of their accounts in what was described as a fire sale. Just a week before the acquisition, Bench carried out major layoffs.

Earlier, in January, Employer.com made an offer to acquire Level, a fintech startup that also shut down suddenly after failing to secure a buyer, though the deal ultimately fell through.

“When we originally started Employer.com and then bought Bench, the overarching theme… is basically automating an end-to-end platform for the G Suite for the business back office,” Tinsley said.

In late January, Tinsley and Employer.com reportedly teamed up with YouTuber MrBeast and others to try to save TikTok by submitting an all-cash bid for the app. It’s unclear what happened to that alleged buyout attempt, but Tinsley publicly confirmed in March that he participated in the $30 billion bid.