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Rippling raises $450 Mn, reaches $16.8 Bn valuation

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Parker Conrad, CEO and co-founder, Rippling

HR tech startup Rippling has secured $450 million in a Series G funding round, bringing its valuation to $16.8 billion. In addition to the new capital, the company is launching a $200 million tender offer to provide liquidity for current and former employees.

This funding round represents a significant increase in valuation compared to the previous year. In April 2024, Rippling was valued at $13.4 billion after raising $200 million in a Series F round led by Coatue, along with a $590 million tender offer, of which $200 million was allocated to employees and the remaining $390 million to seed and other early investors.

The latest funding round saw participation from both new and existing investors. New investors include Sands Capital, GIC, Goldman Sachs Growth, and Baillie Gifford, while existing backers such as Elad Gil, Y Combinator, and others also took part.

Rippling, a standout success from Y Combinator’s winter 2017 cohort, has grown significantly over the years. Notably, Y Combinator reportedly became one of Rippling’s clients earlier this year.

In a LinkedIn post, the company shared that it currently supports over 15,000 startups, including Cursor (Anysphere), Clay, and Sierra. It also seems to be actively promoting its new stack by offering startups “six months of Rippling free.”

The recent surge in marketing efforts and capital raising comes as Rippling pursues legal action against competitor Deel, accusing the company of hiring an employee to gain access to its internal trade secrets. Deel, a fellow Y Combinator alum from the winter 2019 batch, responded with a countersuit in April, denying the claims and bringing forward allegations of its own.

With the latest funding round, Rippling’s total capital raised has reached $1.85 billion. The company now serves over 20,000 customers, employs more than 4,000 people, and has backing from notable investors such as Kleiner Perkins, Greenoaks Capital, and Founders Fund. According to insiders, Rippling recently achieved $570 million in annualized revenue.

Founded in 2016, Rippling has steadily expanded its product suite and now offers around two dozen solutions, including payroll and benefits, SSO and identity management, bill pay, and corporate cards. The newly raised capital will enable the company to speed up its entry into new markets, enhance its current offerings, and drive the creation of additional products.


Prestige, Arihant partner to develop key real estate projects in Chennai

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Prestige Estates Projects Ltd, a leading real estate developer based in Bengaluru, has entered into a framework agreement with Chennai-based Arihant Foundations & Housing Ltd to jointly develop real estate projects in Chennai.

Under this collaboration, both companies will actively identify and execute projects across various real estate segments, including residential, commercial, retail, and hospitality. They will carry out the developments through a joint venture model, with each partner bringing in its unique strengths, brand reputation, and market expertise to deliver high-quality projects that meet the evolving needs of Chennai’s urban landscape.

Moreover, each project under this alliance will operate under separate, definitive agreements, which the companies will finalize as they identify specific opportunities.

This partnership directly supports Prestige Group’s strategy to expand its footprint in key Indian cities. By forming strategic alliances, Prestige aims to create long-term value and scale its presence efficiently.

The collaboration between Prestige Estates and Arihant Foundations represents a decisive step toward unlocking Chennai’s real estate potential. By combining their expertise and strong market presence, the two companies plan to deliver diverse, high-caliber developments that cater to the city’s rising demand.

This joint effort not only accelerates Prestige’s growth strategy but also reflects increasing investor confidence in Chennai’s real estate sector.

IWG to launch premium workspace brand ‘Signature’ in India

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Marc Descrozaille, CEO - Middle East, Africa and APAC at IWG

UK-based coworking giant International Workplaces Group (IWG) is set to introduce its premium brand, Signature, in India within the next few years, according to Marc Descrozaille, CEO for the Middle East, Africa, and APAC regions.

The move aligns with the anticipated growth in India’s office rental and flexible workspace markets. Descrozaille also mentioned that IWG aims to fast-track its expansion in the country through acquisitions that are already underway.

“We’ve been open to discussions in the past, and we remain open to them as a way to accelerate our growth. If the right opportunity comes along with the right partner, we’ll certainly consider it — it’s definitely on the table,” Descrozaille said.

IWG plans to set up 40–50 new centers across India by the end of 2025, expanding into Tier II and Tier III cities such as Surat, Patiala, Vijayawada, Salem, Calicut, and Thiruvananthapuram. In Bengaluru, where it already operates 13 centers, the company aims to open 18 more in 2025 and an additional 20 in early 2026. With over 100 centers currently, IWG targets a fourfold increase in its India presence within the next three to five years.

Competing with players like WeWork, Awfis, and Smartworks, IWG currently operates three brands in India—Regus, Spaces, and HQ. Given India’s rapid growth in the flex office space sector, the company is preparing to launch its premium brand, Signature. This new offering will adopt a “hotelification” model, featuring upscale services such as concierge support, client insurance, and enhanced registration processes to meet the rising demand for luxury workspace solutions, said Marc Descrozaille.

Worldwide, the company caters to approximately 8 million members, including mid-sized enterprises and 83% of Fortune 500 companies. In terms of rentals, the company observed that office space rates differ significantly across micro-markets due to a variety of influencing factors.

“In Bengaluru, however, our rentals grow at an average of 5–10 percent annually. We expect this momentum to continue in the near future,” said Harsh Lambah, vice president of sales, South Asia, IWG.

IWG operates a global network of approximately 4,000 locations across over 120 countries, with the United States representing its largest market and Japan leading its presence in the Asia-Pacific region.

Coforge eyes $2 Bn revenue target, CEO says

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Sudhir Singh, CEO, Coforge

Indian mid-tier IT services company Coforge is aiming to surpass the $2 billion revenue mark by the financial year 2027, driven by a strong order pipeline, according to CEO Sudhir Singh.

In the previous quarter, Coforge secured a significant 13-year deal worth $1.56 billion with U.S.-based travel tech firm Sabre Corp. This win comes as larger IT players face challenges in landing major contracts due to economic uncertainty and trade-related risks affecting the sector.

Coforge reported $1.45 billion in revenue for the last fiscal year.

“If all we’ve done in FY27 is $2 billion, then I’ll be really disappointed,” CEO Singh said in an interview on Tuesday.

“Our next 12-month signed order book is 47.7% higher than where it was at the same time last year. Even if half the world breaks apart, we can still grow very strongly,” he said.

Despite the high level of uncertainty, Singh is hopeful that tech spending cannot go down in areas where it is “structural in nature”.

Singh noted that Coforge’s demand outlook for the current fiscal year remains strong, with growth across all its verticals and regions. The company derives nearly 30% of its revenue from banking and financial services, 19% from insurance, and 18% from travel, transportation, and hospitality.

The IT firm saw a revenue growth of approximately 33.8% for the fiscal year ending in March and is now focusing on sustained organic growth for the current year.

“I don’t see organic growth slowing in any shape or manner in FY26,” Singh said. Coforge had an estimated organic growth of 16.4% last fiscal year, according to Kotak Institutional Equities.

Larger peer Infosys expects revenue growth of 0% to 3% for the current fiscal year, while HCLTech anticipates a rise of 2% to 5%.

Singh, however, is optimistic about Coforge’s operating margins, predicting a “materially” increase as the company targets larger deals.

“We will take whatever comes our way, but we have a strong preference for larger deals because they help with visibility, they help with resilience of revenue, and they also help longer term in margin expansion.”

With strong momentum across all verticals, a robust order book, and a focus on large-scale deals, Coforge is positioning itself as a serious growth contender in the mid-tier IT space.

Machan Resorts unveils nationwide expansion plan

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BRL Editor
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Machan Resorts LLP is set to embark on a major nationwide expansion. Building on over 30 years of delivering sustainable luxury experiences, the company plans to launch new properties in key regions across India.

This growth initiative not only aims to broaden its presence but also creates numerous job opportunities, supporting economic development and inviting skilled professionals to be part of its journey.

The upcoming resorts will offer guests exceptional experiences instilling eco-conscious values. Each property will reflect Machan Resorts’ continued dedication to combining high-end comfort with environmental responsibility. Furthermore, the company will integrate sustainability into every aspect of its operations.

By adhering to green building standards and sustainable practices, Machan Resorts reinforces its leadership in responsible tourism while providing rewarding career paths for hospitality talent.

To support its ambitious growth, the company is actively recruiting professionals across various departments, including Human Resources, Operations, Technical Services, Food & Beverage, and Health, Hygiene & Safety. In doing so, it is tapping into India’s deep talent pool to fill positions at multiple upcoming locations. Moreover, these roles demonstrate the company’s commitment to excellence and its focus on building long-term careers in the hospitality industry.

The Human Resources department will play a key role in attracting and retaining top talent for Machan Resorts. As the expansion adds hundreds of new employees, the team is building a strong and cohesive workforce that reflects the company’s core values—sustainability, quality service, and guest satisfaction.

The Operations department is ensuring that every new property meets the highest operational standards, delivering a seamless and memorable experience to every guest.

The Food & Beverage division is curating exceptional culinary experiences by focusing on fresh, locally sourced ingredients—a hallmark of Machan Resorts. As the brand grows, it is adding new roles in kitchens, dining areas, and service teams to enhance offerings at each resort.

Speaking on the occassion Rakshit Sharma, COO of Machan Resorts remarked, “Our upcoming properties across Western & Northern India are set in exceptional destinations ideal for Weddings, MICE (Meetings, Incentives, Conferences, and Exhibitions), and Leisure travel. These locations offer a blend of cultural richness and natural beauty. We are implementing comprehensive operational, marketing, and HR strategies to ensure every property launches successfully and on schedule.”

This expansion goes beyond adding new resorts; it creates meaningful jobs and empowers individuals to build lasting careers in hospitality. By emphasizing sustainability, service quality, and employee growth, Machan Resorts is fostering a positive impact on local communities and the environment.

The new properties will also boost India’s tourism industry by attracting domestic and international travelers seeking luxury experiences in environmental responsibility. Machan Resorts’ growth highlights the rising demand for eco-friendly luxury travel in India.

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.

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