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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.

Zone by The Park set to launch first hotel in Indore

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Vikas Ahluwalia, General Manager and National Head, Zone by The Park Hotels

Apeejay Surrendra Park Hotels Limited (ASPHL) is expanding its dynamic hospitality portfolio with a new addition to its design-focused brand, Zone by The Park, in Indore.

The upcoming 117-room hotel will sit within the Alankrit Film City, which will additionally become a landmark cultural and entertainment hub in Madhya Pradesh.

The hotel’s prime location, only 30 minutes from Devi Ahilyabai Holkar Airport, will make it a key feature in Indore’s much-anticipated film city project. Alankrit Film City plans to offer a complete destination, including film sets, themed gardens, recreational areas, and a dedicated wedding mandapam. This exceptional setting makes Zone by The Park the perfect choice for both business and leisure travelers looking for unique, experience-driven accommodations.

Commenting on the signing, Vikas Ahluwalia, General Manager and National Head, Zone by The Park Hotels, said, “We are thrilled to bring Zone by The Park to the dynamic city of Indore. With its strategic location inside the Alankrit Film City and a vibrant blend of hospitality, design, and entertainment, the hotel will be a landmark destination. This signing further strengthens our presence in Central India and reflects our commitment to delivering exceptional guest experiences across emerging markets.”

The hotel will feature a variety of amenities tailored to modern, socially and lifestyle-oriented guests. Key offerings include Bazaar, an all-day dining restaurant; Z Bar, a vibrant social hub; Vitalia Spa, offering wellness treatments; and Playa, a serene poolside retreat.

The hotel will also host events of all kinds, offering versatile indoor and outdoor banquet areas that are perfect for weddings, business functions, and social celebrations.

Combining modern amenities with vibrant social spaces and versatile event venues, the hotel aims to cater to the evolving needs of both business and leisure travelers, reinforcing Apeejay Surrendra Park Hotels Limited’s commitment to expanding its presence in emerging markets.

Anysphere raises $900M, reaches $9B valuation with AI coding tool Cursor

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L-R: Aman Sanger, Arvid Lunnemark, Sualeh Asif and Michael Truell, Co-founders, Anysphere

Anysphere, the company behind the AI coding tool Cursor, has reportedly secured $900 million in a new funding round led by Thrive Capital, according to sources cited by the Financial Times.

The round values the startup at approximately $9 billion.

Top-tier venture firms Andreessen Horowitz (a16z) and Accel are also participating in the round. This marks a significant jump from its previous funding in December, when Cursor raised $105 million at a $2.5 billion valuation, also led by Thrive Capital with participation from a16z.

To date, Anysphere has raised more than $173 million in funding, based on data from Crunchbase.

The latest investment round reflects growing enthusiasm among investors for AI-driven development tools.

Established firms like Index Ventures and Benchmark are reportedly eager to back Anysphere, but the company’s existing investors are moving quickly to maintain their stakes.

Investor interest in AI coding tools continues to surge. Rival startup Windsurf, also in the AI coding space, has been in talks to raise funds at a $3 billion valuation. Reports also suggest that OpenAI, an investor in Anysphere, recently explored acquiring Windsurf at a similar valuation—highlighting the intense competition and value placed on next-generation developer tools in the AI space.

Anysphere’s latest funding round highlights the surging demand for AI-powered developer tools and cements its position as a major player in the rapidly evolving coding assistant space. With strong backing from top-tier investors like Thrive Capital, a16z, and Accel, the company is poised for significant growth as competition in the AI coding sector intensifies.

Alt DRX secures Rs 23-Cr in funding from Qatar Development Bank and others

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Anand Narayanan, Founder, Alt DRX

Bengaluru-based digital real estate startup Alt DRX, which focuses on tokenized property investments, has raised ₹23 crore in a funding round led by institutions including Qatar Development Bank, WeFounder Circle Angel Fund, and nX Capital. The round also saw participation from notable individual investors such as cricket commentator Harsha Bhogle, Mindtree founder Parthasarathy, and former KPMG India CEO Richard Rekhy.

Alt DRX will use the funds raised to acquire customers, upgrade its technology infrastructure, and cover operational expenses as it prepares for its next phase of growth.

Founded by Anand Narayanan, Alt DRX enables fractional ownership of residential real estate by allowing users to buy tokenized units measured in square feet. An algorithmic pricing model powers the transactions, and the platform builds them on blockchain infrastructure, making real estate investing more accessible and transparent.

The platform runs on XRPL Ripple’s blockchain and uses a custodial ledger system that supports KYC-approved users, ensuring secure digital ownership and verifiable transaction history.

Alt DRX is also expanding its global footprint by participating in Qatar Financial Centre’s Digital Assets Lab and IFSCA’s innovation sandbox at GIFT City in India.

A BCG and Ripple report suggests that tokenizing real-world assets could reach a value of $18 trillion by 2033, with real estate emerging as one of the most significant segments. Currently, Alt DRX processes around 100,000 transactions annually, underlining its growing traction in the digital real estate space.

With strong backing from institutional investors like Qatar Development Bank and prominent individuals, Alt DRX is well-positioned to scale its operations, enhance its technology, and further its mission of making real estate investment more accessible through tokenization. The funding marks a significant step forward in its journey to transform how people invest in property using blockchain technology.

Anduril to acquire Ireland’s Klas to expand AI warfare systems

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AI-driven defense startup Anduril Industries announced on Monday that it has reached a definitive agreement to acquire Klas, an Ireland-based maker of tactical communications systems.

According to a report last month, Anduril—alongside software company Palantir and Elon Musk’s SpaceX—has become a leading contender to secure a key role in President Donald Trump’s “Golden Dome” missile defense shield, citing sources familiar with the matter.

The deal, which is pending regulatory approval and whose financial terms remain undisclosed, aims to strengthen Anduril’s autonomous warfare systems by incorporating Klas’s hardware solutions.

Klas produces compact computing devices and internet equipment that allow soldiers to communicate and operate drones, even in areas without access to electricity or cellular networks.

Anduril, backed by major venture capital firms, plans to integrate Klas’s hardware into its AI-driven software platform, Lattice, which serves as the “central brain” of its autonomous defense systems.

This marks the ninth deal by Anduril since it was established in 2017.

The acquisition of Klas marks a strategic move by the defense startup to bolster its autonomous defense capabilities by combining advanced hardware with its AI-powered software platform. As the company strengthens its position in the global defense tech landscape, the deal underscores its commitment to developing integrated, next-generation warfare systems designed for complex and disconnected environments.

Fintech VC QED Investors targets India in $300M Asia investment drive

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Sandeep Patil, Partner at QED Investors and Head of Asia

Fintech-focused venture capital firm QED Investors is set to invest $250 to $300 million in Series B and C startups across Asia over the next five years, with a significant portion earmarked for India.

Having already invested around $200 million in India since 2020, the firm is expanding its footprint in Asia, with operations now in Indonesia, Japan, and Singapore, and plans to enter South Korea and Australia.

“It has been an expansion strategy going country by country,” said Sandeep Patil, Partner at QED and Head of Asia. “Expanding to the developed Asia-Pacific market…Japan and Australia in particular, is the next phase of expansion. With that, the footprint in Asia Pacific becomes wider.”

In India, the firm has invested in companies such as Refyne, FPL Technologies (OneCard), Upswing, Jupiter, and Efficient Capital Labs, among others.

QED Investors has deployed around $20 million in markets outside India. Its international portfolio includes two Indonesian startups—Pashouses and Skor Technologies—and one company based in Singapore. Recently, it participated in the Series A funding round of Habitto, a Japan-based digital bank aimed at younger consumers. The firm is also exploring potential investment opportunities in Australia.

“We believe we will find the right set of opportunities which will allow us to invest between $250-300 million in the next five years,” said Patil.

In 2023, QED Investors closed its eighth fund, securing $650 million for early-stage investments along with an additional $275 million dedicated to early-to-growth stage ventures. While the firm previously concentrated on early-stage funding, mainly at the Series A level, it is now evolving into a multi-stage investor, with plans to support companies in the Series B and C rounds as well.

“As a VC, either you take a bet on a team or choose to take the more patient approach and just wait to see which of these companies looks like. We find picking those companies at the Series B stage is far easier, far simpler, because the metrics will then tell you which is the best company,” he said.

“Under the current market circumstances, Series B and Series C also have very attractive risk return profiles for us,” he added.

However, the bulk of the capital will be allocated to India, where QED aims to invest in companies catering to the country’s top 250–300 million consumers.

“India continues to be a very important geography for us. It’s a large part of the investments that we have made so far, and we don’t expect that to change,” said Patil.

This strategic move underscores QED’s commitment to tapping into Asia’s fast-growing fintech ecosystem, with India expected to be a major beneficiary of the upcoming investments.

Godrej Properties aims 10% growth in FY26 sale bookings to Rs 32,500-Cr, says Executive Chairperson Pirojsha ​​Godrej

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Pirojsha Godrej, Executive Chairperson, Godrej Properties

Godrej Properties has set a target to increase its pre-sales by 10% in 2025-26, aiming for Rs 32,500 crore as housing demand remains strong. This follows a remarkable 31% rise in sales bookings, which reached a record Rs 29,444 crore in 2024-25, up from Rs 22,527 crore the previous year.

Executive Chairperson Pirojsha Godrej highlighted that despite global economic uncertainties, the demand for housing continues to remain strong.

“We have given a conservative guidance of achieving a sales bookings of Rs 32,500 crore for the current fiscal. Hopefully, we will do better than that,” he said.

Pirojsha Godrej mentioned that the company had set a guidance of Rs 27,500 crore for the last fiscal year, but it exceeded expectations with pre-sales of approximately Rs 29,500 crore. He added that the company has a solid inventory in ongoing projects and a strong pipeline of upcoming housing launches in major cities.

Godrej Properties is poised to become the largest listed real estate firm in terms of sales bookings for the fiscal year 2024-25.

On Friday, the company reported a 19% decline in consolidated net profit to Rs 381.99 crore for the latest March quarter, despite an increase in income. In the same period last year, its net profit stood at Rs 471.26 crore.

The company’s total income rose to Rs 2,681.06 crore in the fourth quarter of the last fiscal year, compared to Rs 1,914.82 crore in the previous year.

During the March quarter, its tax outgo increased to nearly Rs 190 crore, and it reported a loss of Rs 35.36 crore in certain joint ventures. However, for the full fiscal year, Godrej Properties’ net profit surged by 93%, reaching Rs 1,399.89 crore, up from Rs 725.27 crore in the previous year.

Total income for the year grew to Rs 6,967.05 crore, compared to Rs 4,334.22 crore in the fiscal year 2023-24.

The board also approved raising up to Rs 2,000 crore through the issuance of Non-Convertible Debentures, Bonds, or other debt securities on a private placement basis, in one or more tranches.

As one of the leading real estate developers in India, Godrej Properties primarily develops group housing projects across Delhi-NCR, Mumbai Metropolitan Region, Pune, Bengaluru, and Hyderabad.

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