Ramee Group partners with Pure Hotels to launch boutique property in Mohali

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March 18, 2026

The Ramee Group of Hotels has announced the signing of a new boutique hotel in Mohali in partnership with Pure Hotels Pvt. Ltd., thereby marking its continued expansion in North India. This development follows the successful introduction of the group’s boutique concept in Amritsar and, consequently, reflects its strategic focus on strengthening its presence in emerging urban markets.

Meanwhile, Mohali—a key part of the Chandigarh-Panchkula-Mohali Tricity region—has witnessed significant infrastructure growth and rising business activity in recent years. Additionally, the city’s proximity to the international airport, IT hubs, and leading educational institutions continues to drive demand from both business and leisure travellers, making it an attractive destination for hospitality investments.

The upcoming property will feature well-designed guestrooms, ensuring a comfortable stay experience. Furthermore, it will include multiple food and beverage outlets offering global and contemporary cuisines. In addition, the hotel will house banquet and event spaces tailored for weddings, corporate functions, and social gatherings, thereby catering to a wide range of customer needs.

Commenting on the signing, Saurabh Gahoi, Senior Vice President—India, Ramee Group of Hotels, said, “North India continues to be an important market for our growth strategy, and Mohali’s rapidly evolving business and lifestyle landscape makes it an ideal location for our boutique hospitality concept. Through this property, we aim to offer a well-balanced hospitality experience that combines comfortable stays, engaging dining spaces, and versatile venues for celebrations and events.”

Jaspal Singh, Director, Pure Hotels Pvt. Ltd., added, “We are delighted to partner with Ramee Group of Hotels, one of the most respected hospitality brands in the lifestyle hospitality space. This collaboration marks an exciting step for us as we work together to bring quality hospitality experiences to emerging markets like Mohali. With a strong vision for growth, we aim to expand our portfolio and develop around 10 hotels over the next 24 months, strengthening our presence across high-potential destinations.”

Ramee Group of Hotels’ entry into Mohali reinforces its commitment to tapping high-growth regions and delivering boutique hospitality experiences. By collaborating with Pure Hotels Pvt. Ltd., the group can effectively cater to evolving traveller preferences while accelerating its expansion strategy across North India.

KKR to invest $310 Mn in PMI Electro to scale electric bus platform Allfleet

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March 18, 2026

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Global private equity firm KKR plans to invest $310 million in PMI Electro to scale its electric bus platform Allfleet and strengthen manufacturing capabilities, the companies said Wednesday. This investment marks a significant step toward expanding electric mobility infrastructure in India.

Importantly, the deal represents KKR’s first climate transition investment in India under its Global Climate Transition strategy, which has already backed eight investments worldwide, including recent deployments in Australia. As part of the transaction, KKR will acquire a majority stake in Allfleet while also taking a minority stake in PMI Electro, thereby aligning its interests across both operations and manufacturing.

“Transport electrification is a critical pillar of the energy transition, and India—with its scale, urbanization, trends, and decarbonization ambitions—represents one of the most significant opportunities for the sector globally,” said Neil Arora, partner and head of KKR’s Climate Transition strategy for Asia Pacific.

Founded in 2017, PMI Electro manufactures electric commercial vehicles, including 7-metre, 9-metre, and 12-metre buses, as well as electric school buses. To date, the company has deployed more than 3,000 buses across over 30 Indian cities, demonstrating its growing footprint in the clean mobility segment.

Subsequently, PMI launched Allfleet nearly five years later as an electric bus operating platform designed to develop, own, and manage large-scale public transport fleets through its subsidiaries. The company now plans to deploy more than 5,000 e-buses under long-term concession and service agreements with state transport authorities in key cities, further accelerating adoption.

Moreover, Allfleet integrates electric vehicles, advanced fleet management systems, and on-ground execution capabilities within a concession-led model. This structure ensures operational continuity and performance throughout the lifecycle of public transport assets, making it a scalable and efficient solution.

As India continues to push toward decarbonization and cleaner urban mobility, scaling reliable electric public transport infrastructure has become increasingly critical. “The differentiated combination of Allfleet’s proven, scalable platform and PMI’s manufacturing and service expertise stands out as a full-service solution in this market. We look forward to supporting Allfleet’s next phase of growth by working together with PMI and leveraging KKR’s global operational expertise and experience investing across climate transition,” Arora said.

In addition, KKR’s investment will enable Allfleet to expand its operations and collaborate more effectively with public transport authorities to grow e-bus fleets. This, in turn, will deliver cleaner, more reliable commuting solutions for Indian cities. The integrated platform now offers end-to-end capabilities, spanning manufacturing, ownership, operations, and lifecycle support through its partnership with PMI Electro.

“As our cities grow and mobility needs evolve, clean, efficient, and accessible public transport will play a central role in shaping a more sustainable future. Alongside KKR, the company will continue to focus on responsible scale-up and expanding its presence across Indian cities,” said Aanchal Jain, chief executive, PMI Electro, and director, Allfleet.

Over the years, KKR has significantly expanded its climate investment portfolio. Since 2010, the firm has committed more than $44 billion toward climate and environmental sustainability initiatives, including investments in Zenobē, CleanPeak, and Avantus.

The companies expect to close the transaction by mid-2026, subject to customary regulatory approvals, thereby marking another milestone in India’s transition toward sustainable transportation.

KKR’s strategic investment in PMI Electro and Allfleet underscores the growing momentum behind electric mobility in India. By combining capital, technology, and operational expertise, the partnership is well-positioned to accelerate the deployment of electric buses and contribute meaningfully to the country’s decarbonization goals while transforming public transportation infrastructure.

Healthcare startup CureBay acquires Saveo to strengthen rural supply chains

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March 18, 2026

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Healthcare startup CureBay acquires Saveo to strengthen rural supply chains — Priyadarshi Mohapatra, Shobhan Mahapatra and Sanjay Swain, co-founders, CureBay

Healthcare platform CureBay has acquired the pharmacy distribution business of Saveo Healthtech, thereby strengthening medicine supply chains across semi-urban and underserved regions. This strategic move significantly enhances CureBay’s ability to streamline last-mile drug delivery while expanding its operational footprint.

Through this acquisition, CureBay integrates a well-established distribution network that caters to more than 10,000 retail pharmacies across southern India. In addition, the deal includes key infrastructure such as distribution hubs in Bengaluru and Hyderabad, advanced procurement systems, and a technology-driven ordering platform. However, the companies have not disclosed the financial details of the transaction.

Notably, this development reflects a broader industry trend where healthcare startups are increasingly focusing on controlling critical components of the value chain. In particular, drug distribution remains a key challenge, as fragmented logistics and frequent stock-outs continue to disrupt patient care, especially outside metro cities. Therefore, this acquisition positions CureBay to address these inefficiencies more effectively.

CureBay, which currently operates over 190 eClinics across 15,000 villages, claims to have served more than one million patients. Furthermore, the company stated that integrating Saveo’s capabilities will enhance inventory visibility, minimize supply gaps, and accelerate fulfilment cycles—especially for chronic therapies and essential medicines.

“Medicines are central to continuity of care,” said Founder and Chief Executive Priyadarshi Mohapatra, adding that the deal would strengthen procurement and enable faster expansion into new geographies.

Moreover, the combined platform is expected to improve demand planning and optimize working capital management—two areas that have historically limited pharmacy access in rural markets. Meanwhile, CureBay continues to scale its clustered expansion strategy, with two clusters reportedly achieving operating profitability in eastern India.

For Saveo, on the other hand, the transaction signals a strategic shift from operating an independent distribution network to becoming part of a broader, integrated healthcare ecosystem. While its existing pharmacy partners will remain within the system, CureBay’s clinics will benefit from a stronger and more reliable backend supply chain. As part of this transition, Saveo Co-founder Amit Kumar will lead pharmacy technology at CureBay, while senior executive Deepak Tiwary will oversee operations. Consequently, this leadership integration will ensure continuity and improve operational efficiency post-acquisition.

At a broader level, this move highlights increasing consolidation within India’s fragmented pharmaceutical supply ecosystem. Startups are now blending digital tools with physical distribution networks to improve accessibility in smaller towns and rural areas, thereby bridging longstanding healthcare gaps.

Backed by prominent investors such as Bertelsmann India Investments, Elevar Equity, and British International Investment, CureBay is steadily positioning itself as a fully integrated healthcare provider. By combining consultations, diagnostics, and pharmacy services, the company aims to serve populations that remain underserved by traditional healthcare infrastructure.

CureBay’s acquisition of Saveo Healthtech’s pharmacy distribution business marks a decisive step toward building a more resilient and efficient healthcare supply chain in India. As the company deepens its reach into semi-urban and rural markets, it is likely to play a pivotal role in improving access to essential medicines and ensuring continuity of care at scale.

Pet food startup Zoomies raises ₹5-Cr to strengthen manufacturing and supply chain operations

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March 17, 2026

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Pet food startup Zoomies raises ₹5-Cr to strengthen manufacturing and supply chain operations — Sumedh Battewar & Spriha Choubey, Co-founders, Zoomies

Pet food startup Zoomies has raised ₹5 crore in a pre-seed funding round led by D2C Insider Super Angels, while several prominent founders and operators also participated in the investment. Notable investors in the round include Pallavi Mohadikar; Unacademy co-founders Gaurav Munjal and Roman Saini; Astrotalk CEO Puneet Gupta; along with other angel investors.

Founded in September 2025, Zoomies was launched by Sumedh Battewar, former Co-founder and Chief Business Officer at EMotorad, along with co-founder Spriha Choubey. The startup focuses on creating a nutrition-first pet food brand that offers meals made from 100% real, human-grade meat while eliminating additives, preservatives, and synthetic supplements from its formulations.

India’s pet food industry has been witnessing rapid expansion in recent years. In fact, the sector is growing almost twice as fast as the traditional FMCG market, largely driven by rising pet ownership and increasing awareness around pet health and nutrition. However, despite this growth, a significant portion of the market still relies on ultra-processed products with limited ingredient transparency.

Against this backdrop, Zoomies aims to introduce clean-label, transparent, and affordable pet food options designed to address these concerns. At the same time, the company has developed products with a long shelf life of up to 18 months, enabling wider distribution and convenience for consumers.

The company plans to utilise the newly raised capital to strengthen several core business areas. Specifically, the funds will support the expansion of manufacturing and supply chain capabilities while also enabling the brand to invest in marketing initiatives and influencer-led campaigns. In addition, Zoomies will focus on increasing its presence on quick commerce platforms, strengthening its Direct-to-Consumer (D2C) channels, and launching its products on Amazon to reach a broader customer base.

Furthermore, the startup has outlined plans to expand its presence across major metropolitan markets, including Bengaluru, Mumbai, Hyderabad, and Chennai, as part of its early growth strategy.

Zoomies is initially launching with a complete range of cat food products while also offering a limited selection for dogs. Importantly, the company has adopted a pricing strategy that aims to appeal to both mass-market consumers and premium buyers, including offerings developed using freeze-dried technology.

To ensure transparency and build consumer trust, each product pack includes a QR code linked to detailed lab reports, allowing pet owners to verify quality and ingredient standards. Moreover, the products undergo palatability testing and contain real meat without synthetic additives or vitamins.

Speaking about the company’s vision, Sumedh Battewar said that pet nutrition in India has long been seen as either premium or niche, and Zoomies aims to break that perception by making clean, high-quality nutrition both scalable and affordable.

Spriha Choubey added that their experience as pet parents inspired the idea for Zoomies, as they noticed a clear gap between the food they wanted to give their pets and the options available in the market.

Zoomies’ latest funding round highlights growing investor confidence in India’s rapidly evolving pet care sector. By focusing on transparency, clean ingredients, and scalable distribution, the startup aims to redefine pet nutrition standards while making high-quality food more accessible to pet owners across the country.

OPO expands Gurugram portfolio with launch of OPO Horizon Lyro in DLF Cyber City

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March 17, 2026

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OPO has officially launched OPO Horizon Lyro in Gurugram’s DLF Cyber City, marking a major milestone in the brand’s ongoing expansion strategy. With this addition, the hospitality company strengthens its presence in one of the most prominent corporate and commercial districts in the National Capital Region (NCR).

Surrounded by multinational corporations, global technology companies, and premium commercial developments, the hotel benefits from its placement within the thriving DLF Cyber City ecosystem. As a result, the property is well-positioned to attract business professionals, corporate events, and transit travellers visiting Gurugram for work or conferences. Consequently, OPO Horizon Lyro is expected to emerge as a preferred accommodation option for business travellers across the NCR region.

Furthermore, OPO has expanded its footprint in the National Capital Region through the unveiling of this property, which forms part of its strategy to grow in key corporate markets. The company finalized the management agreement for OPO Horizon Lyro on March 5, 2026, highlighting its continued focus on strengthening its presence in major commercial and business hubs across India.

The hotel sits in one of Gurugram’s most vibrant business and lifestyle districts, where multinational offices, high-end retail outlets, and premium commercial spaces dominate the landscape. In addition, DLF Cyber City regularly hosts large volumes of corporate travellers, business meetings, and industry events, reinforcing its status as a critical hospitality destination within the NCR.

OPO Horizon Lyro features 50 well-designed rooms along with a 40-cover all-day dining restaurant, ensuring guests enjoy comfort and convenience during their stay. The property specifically caters to corporate professionals and transit travellers who seek efficient, modern hospitality experiences while visiting the city.

In terms of connectivity, the hotel benefits from excellent access to major transportation routes, including NH-48 and the Delhi–Gurugram Expressway. Moreover, the nearby Rapid Metro, as well as its proximity to Indira Gandhi International Airport and Aerocity, further enhances accessibility for both domestic and international travellers. Additionally, the surrounding area offers a range of corporate offices, premium restaurants, entertainment venues, and residential developments, which collectively support strong demand for hospitality services.

Importantly, the addition of OPO Horizon Lyro represents more than just a portfolio expansion for the company. Instead, it serves as a strategic initiative designed to strengthen OPO’s foothold in Gurugram’s high-value hospitality market. With this signing, OPO now operates three properties in Gurugram, further reinforcing its presence within one of the NCR’s most significant commercial corridors.

Commenting on the development, Sandeep Basu, CEO, OPO, said, “The addition of OPO Horizon Lyro marks an important step in our expansion strategy within key corporate and business hubs across India. DLF Cyber City continues to be one of the most dynamic commercial ecosystems in the NCR, attracting a steady flow of global business travelers and corporate activity. With this property, we are further strengthening our presence in Gurugram while reinforcing our commitment to building a scalable and high-quality hospitality portfolio. OPO Horizon Lyro aligns perfectly with our vision of delivering well-located, contemporary hospitality experiences for today’s business and lifestyle travelers.”

Through this strategic integration, OPO continues to build a scalable hospitality platform that targets high-demand corporate and leisure destinations across India. By focusing on key business districts such as Gurugram’s Cyber City, the brand aims to capture rising demand for reliable midscale and lifestyle accommodations.

At the same time, OPO’s broader growth strategy emphasises the managed midscale hospitality segment, which has witnessed increasing demand among both corporate travellers and leisure guests. By offering accessible yet high-quality accommodations, the brand aims to cater to a wide range of guest preferences while maintaining strong operational standards.

Additionally, the expansion reflects OPO’s efforts to diversify its portfolio and remain competitive within India’s evolving hospitality landscape. By strengthening its presence in major corporate hubs and travel destinations, the company continues to position itself as a relevant and trusted player in the industry.

Moustache Group expands Himalayan portfolio with launch of Moustache Select McLeodGanj

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March 17, 2026

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Moustache Group of Hotels has expanded its hospitality portfolio in the Himalayan region with the launch of Moustache Select McLeodGanj in Upper Bhagsu, Dharamshala. With this opening, the group has increased its presence in the mountains to eight properties. Currently, the brand operates seven mountain stays across key destinations, and the latest addition further strengthens its footprint in Himachal Pradesh’s growing tourism market.

The newly launched property operates under the brand’s mid-range Select vertical specifically targets travellers seeking comfortable accommodations paired with panoramic Himalayan views. Situated at an altitude of approximately 2,100 metres in the Dhauladhar mountain range, the hotel offers convenient access to the McLeodGanj market while maintaining a peaceful and scenic environment.

Furthermore, McLeodGanj, widely known as “Little Lhasa,” remains one of the most popular destinations in North India for spiritual seekers and leisure travellers. The destination continues to witness strong tourism demand, supported by growing visitor numbers each year. According to IBEF data, Himachal Pradesh welcomed around 1.80 crore domestic tourists and 83,000 international visitors in 2024, highlighting the region’s increasing appeal among travellers.

Abhishek Khandelwal, Co-Founder and Director, Moustache Group of Hotels, said, “McLeodGanj has always been one of North India’s most consistent travel markets. It attracts spiritual travellers, trekkers, families, and long-stay guests alike. Upper Bhagsu offered the right mix of accessibility and uninterrupted mountain views, which aligns well with the Select market positioning.”

The property offers several room categories designed to suit diverse traveller preferences, including Deluxe, Superior, and King rooms, along with valley-view accommodations that highlight the surrounding Himalayan landscape. In addition, the hotel features a range of guest-focused amenities such as a glasshouse café, dedicated co-working spaces, a landscaped lawn area, and on-site parking, enhancing both comfort and convenience for visitors.

Deepak Agarwal, Co-Founder and Director, Moustache Group of Hotels, added, “Select is becoming a strong growth driver for us. Properties like McLeodGanj help us cater to travellers who want better amenities without moving into ultra-luxury pricing. We see steady year-round demand here, given its trekking routes like Triund, proximity to Bhagsunag Waterfall, and its cultural appeal.”

Notably, McLeodGanj’s popularity continues to grow because of its blend of natural beauty, trekking opportunities, and cultural experiences. Popular attractions such as the Triund trekking route and Bhagsunag Waterfall draw adventure enthusiasts and nature lovers, while the region’s Tibetan heritage and monasteries attract spiritual travellers from around the world.

The launch of Moustache Select McLeodGanj marks another strategic step in the brand’s expansion across India’s mountain destinations. By strengthening its mid-range hospitality segment and tapping into the region’s growing tourism demand, Moustache Group aims to offer travellers comfortable stays with scenic views while further solidifying its presence in the Himalayan hospitality market.

Optical communication startup Velmenni secures Rs 30-Cr to strengthen global market presence

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March 17, 2026

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Optical communication startup Velmenni secures Rs 30-Cr to strengthen global market presence — Deepak Solanki, Founder, Velmenni

Delhi-based optical communication startup Velmenni has raised Rs 30 crore (approximately USD 3.3 million) in a pre-Series A funding round led by pi Ventures, while MountTech Growth Fund–Kavachh and Apekso also participated in the investment.

The company stated that it will utilise the newly raised capital to accelerate the commercialisation of its Free Space Optics (FSO) and Light Fidelity (Li-Fi) technologies. Additionally, Velmenni plans to develop customised solutions for defence, and enterprise applications while simultaneously expanding its presence in international markets.

Founded in 2014 by Deepak Solanki, Velmenni focuses on building light-based wireless communication technologies designed to deliver secure and high-capacity connectivity for telecom operators, defence systems, and enterprise networks. Over the years, the company has positioned itself as an innovator in optical wireless communication, an emerging technology that can transform high-speed connectivity infrastructure.

Earlier, the startup had raised Rs 30 crore in a seed funding round. Moreover, it secured nearly Rs 7 crore in government grants from the Department of Telecommunications through initiatives such as the Telecom Technology Development Fund and the Innovations for Defence Excellence programme. These grants further supported the development of its advanced optical communication technologies.

Velmenni’s technology relies on light and laser-based optical links rather than the conventional radio frequency spectrum to transmit data. As a result, this approach enables organisations to bypass costly spectrum licensing and avoid the need for extensive physical cable infrastructure. At the same time, the technology offers interference-free and highly secure communication networks, making it particularly attractive for critical telecom and defence applications.

Solanki said the company’s system can deliver over 10 Gbps connectivity across distances ranging from 1 km to 25 km, offering an alternative for dense urban telecom networks and strategic defence applications.

Meanwhile, Velmenni has already demonstrated the real-world capabilities of its technology through large-scale deployments. The company deployed India’s first commercial carrier-grade FSO backhaul links for a private 5G network at a thermal power plant operated by GMR Group in Odisha. Notably, the deployment has maintained 99.999 percent availability for more than 18 months despite challenging tropical weather conditions.

In addition, Velmenni has secured a multi-million-dollar order from India’s defence sector for its specialised FSO solution. The technology will be deployed across Indian submarines to address connectivity challenges in harbour environments, further highlighting the strategic importance of optical communication systems in defence operations.

Furthermore, the startup revealed that it has conducted several proof-of-concept deployments and completed more than 50 live installations across India and Southeast Asia, while also working with Tier-1 mobile network operators in the United States. These deployments demonstrate the scalability and reliability of its technology across diverse operational environments.

Velmenni also noted that its product has received CE certification and is currently undergoing the process of obtaining approval from the Federal Communications Commission. Securing this certification could significantly strengthen the company’s ability to expand into global markets and collaborate with international telecom and defence partners.

Velmenni’s latest funding round marks a significant step in accelerating the adoption of light-based wireless communication technologies worldwide. As demand for faster, secure, and spectrum-efficient connectivity continues to grow, the company’s Li-Fi and Free Space Optics solutions could play a critical role in shaping the future of telecom, defence, and enterprise networking infrastructure.

ELIVAAS partners with Alivaa Hotels & Resorts to strengthen hospitality distribution in India

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March 17, 2026

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Luxury villa hospitality platform ELIVAAS has announced a strategic sales and marketing partnership with Alivaa Hotels & Resorts to enhance distribution capabilities and broaden access across India’s leisure and corporate travel segments. Through this collaboration, the two hospitality brands aim to strengthen their market presence while leveraging each other’s networks to improve property visibility across multiple distribution channels.

Under the agreement, both companies will provide mutual support in sales, marketing, and brand representation for their respective properties. As a result, the alliance seeks to increase exposure across partner ecosystems and travel distribution platforms, thereby enabling both organisations to reach a wider customer base.

Meanwhile, ELIVAAS has steadily expanded its footprint in premium leisure destinations through its brands ELIVAAS and Alaya Stays. The company focuses on offering private luxury villas and experiential accommodations designed for group travel, celebrations, and curated holiday experiences. By emphasising personalised hospitality and premium villa stays, the platform continues to attract travellers seeking exclusive leisure experiences.

On the other hand, Alivaa Hotels & Resorts operates a portfolio of midscale to upscale hotels under brands such as Alivaa, The Hoften, and Xenious. These properties cater to both leisure and business travellers across multiple locations in India. Consequently, the collaboration combines ELIVAAS’s strong presence in the luxury villa hospitality segment with Alivaa’s growing footprint in the hotel industry.

Importantly, while both companies will collaborate on distribution and marketing initiatives, they will continue to operate independently and manage their respective brand portfolios separately. This structure allows each organisation to retain its strategic focus while benefiting from shared market access and promotional capabilities.

Ritwik Khare, Founder and Chief Executive Officer, ELIVAAS, said, “As travel demand becomes more diverse across leisure, corporate, and experiential segments, distribution partnerships are becoming increasingly important for hospitality brands. This alliance allows both organisations to leverage complementary strengths in sales outreach and market access while continuing to operate and grow our respective portfolios independently.”

Vikramjit Singh, Founder, Alivaa Hotels & Resorts, added, “This alliance marks a significant milestone for Alivaa and ELIVAAS. By combining our portfolios and expertise with ELIVAAS, we are confident that we can achieve deeper penetration and a greater competitive advantage for both the brands.”

Overall, the partnership reflects a growing trend within the hospitality industry where brands collaborate to strengthen distribution reach and tap into diverse travel segments. By combining resources and networks, both ELIVAAS and Alivaa aim to enhance market visibility while delivering more varied accommodation options to travellers across India.

The strategic alliance between ELIVAAS and Alivaa Hotels & Resorts represents an important step toward expanding hospitality distribution and improving customer access across leisure and corporate travel markets. As travel demand continues to evolve, such collaborations could play a crucial role in driving growth, strengthening brand visibility and enhancing the overall guest experience in India’s rapidly expanding hospitality sector.

AI startup Thrive Global AI reports $2.5 Mn revenue in first eight months

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March 16, 2026

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New Delhi-based artificial intelligence startup Thrive Global AI has achieved an early milestone by generating USD 2.5 million in revenue within its first eight months of operations. In addition, the bootstrapped platform has secured USD 4.5 million in order bookings, highlighting strong early demand for its enterprise-focused AI solutions.

At the same time, the company introduced its Real-Time Analytics Module, a patented technology that integrates supply chain and marketing analytics directly with core business operations.

Founded by Priyanka Aeron, Thrive Global AI aims to solve a persistent challenge faced by brands operating across multiple markets—fragmented data spread across regions. This fragmentation often leads to inconsistent insights, delayed reporting, and slower business decision-making.

To address this issue, the platform consolidates data from multiple business functions. Moreover, it frequently processes information within a client’s own cloud infrastructure, ensuring both data security and regulatory compliance. The system also connects seamlessly with internal enterprise systems and third-party platforms such as Amazon and Noon through API integrations.

Unlike many generic AI tools available today, Thrive Global AI develops custom large language models (LLMs) tailored to each client’s supply chain cycles, business benchmarks, and operational definitions. According to the company, these customised models are typically deployed within two to three weeks, enabling faster implementation and measurable results.

Furthermore, the platform merges offline and online sales data to create what the company describes as a single source of truth. As a result, it effectively functions as a company-specific AI assistant that supports data-driven business decision-making.

The technology supports several practical use cases, including predicting stock-out risks, identifying high-return investment opportunities, improving refill planning, and optimising marketing expenditure. According to the company, brands using the platform have reported 200–300 percent growth, driven by improved capital efficiency, stronger inventory control, and better marketing timing.

Commenting on the company’s vision, founder Priyanka Aeron emphasized that the future of artificial intelligence will rely less on experimentation and more on effective integration into real-world business operations.

“AI’s future will not be shaped by who experiments the fastest but by who integrates it the smartest. At Thrive Global AI, we are embedding intelligence directly into supply chains, capital strategy, and marketing to deliver measurable revenue outcomes,” she said.

Currently, around 80 percent of Thrive Global AI’s revenue comes from platform subscriptions, access fees, and brand management services, reflecting a strong recurring revenue model.

Looking ahead to 2026, the company plans to focus on enterprise-scale adoption, governance-driven innovation, and sector-specific AI solutions. In particular, it aims to target industries that operate under strict regulatory and compliance frameworks.

Additionally, Thrive Global AI plans to further invest in data governance frameworks and scalable decision-intelligence systems to enhance operational efficiency and reduce costly trial-and-error approaches in enterprise AI adoption.

FabHotels parent Travelstack Tech gets SEBI approval for IPO

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March 16, 2026

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Travelstack Tech, the parent company of budget hospitality brand FabHotels, has received approval from the Securities and Exchange Board of India (SEBI) to move forward with its initial public offering (IPO).

According to SEBI’s latest update, the Bengaluru-based company has obtained the regulator’s observation letter, which allows it to proceed with the planned public issue. Earlier, the company had filed its Draft Red Herring Prospectus (DRHP) in December last year as part of the listing process.

As outlined in the DRHP, the IPO will include a fresh issue of equity shares worth Rs 250 crore. In addition, the offering will feature an offer for sale (OFS) of up to 2.68 crore equity shares by existing shareholders.

The OFS component will involve partial stake sales by several early investors, including Accel, Goldman Sachs, and Qualcomm. Additionally, angel investor Anupam Mittal will also sell a portion of his shareholding through the public offering.

Furthermore, the company’s founders, Vaibhav Aggarwal and Adarsh Manpuria, are expected to offload part of their stakes as part of the OFS.

According to the filing, the company plans to utilize the proceeds from the fresh issue primarily to meet working capital requirements. Moreover, the funds will help repay certain borrowings and support general corporate purposes.

The IPO will be managed by Motilal Oswal Financial Services, IIFL Capital, and Nuvama Wealth Management, while MUFG Intime will serve as the registrar to the issue.

The DRHP also highlights the company’s shareholding structure. Accel India currently stands as the largest external shareholder, holding a 21.75 percent stake in the company. Meanwhile, Qualcomm Asia holds around 8 percent, while co-founder Vaibhav Aggarwal owns 19.20 percent.

Founded in 2014, FabHotels has grown significantly in India’s budget hospitality segment. Today, the company operates more than 1,300 properties across over 50 cities, including Mumbai, the National Capital Region, Bengaluru, and Goa.

From a financial perspective, the company reported operating revenue of Rs 400 crore in the first half of FY26. Additionally, it recorded a net profit of Rs 32 crore for the six-month period ending September 2025, according to the DRHP.

With this approval, Travelstack Tech joins a growing list of companies preparing for public listings. Other firms that have recently received SEBI’s nod include Leap India, Turtlemint, Molbio Diagnostics, and Infra.Market.

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