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IHCL strengthens presence in Gujarat with launch of Ginger Ahmedabad, Kristar

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Deepika Rao, executive vice president, New Businesses and Hotel Openings, IHCL

Indian Hotels Company (IHCL) has announced the opening of Ginger Ahmedabad, Kristar, located in the lively neighbourhood of Thaltej, further strengthening its presence in the city.

Commenting on the launch, Deepika Rao, Executive Vice President – New Businesses & Hotel Openings, IHCL, said, “Ahmedabad is one of India’s fastest-growing urban centres, driven by its thriving industrial and entrepreneurial ecosystem. Ginger’s lean luxe offering resonates with the city’s evolving preference for smart, contemporary stays. With five Ginger hotels present in multiple micromarkets of the city, the opening of Ginger Ahmedabad, Kristar, reaffirms our commitment to cater to its increasing demand for quality hospitality.”

At the same time, Ginger Ahmedabad, Kristar, combines comfort with convenience to serve both business and leisure travellers. The hotel offers thoughtfully designed rooms, a global cuisine restaurant, Soulinaire, and flexible meeting spaces. Moreover, guests benefit from easy connectivity to key destinations across Ahmedabad while enjoying Ginger’s signature mix of modern design and functional efficiency.

Intel in talks to acquire AI startup SambaNova in $1.6 Bn deal: Report

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Intel CEO Lip-Bu Tan

Intel is holding advanced discussions to acquire artificial intelligence startup SambaNova Systems in a deal valued at $1.6 billion, including debt, as reported on Saturday.

According to the report, the companies have not yet disclosed the transaction, and Intel could initiate the deal as early as next month. However, the structure and timing remain subject to change. In parallel, SambaNova has signed term sheets with other potential financial investors and could still opt for an alternative course.

Based in Palo Alto, SambaNova develops custom AI chips and reached a $5 billion valuation in 2021 after raising $676 million in a funding round led by SoftBank Group’s Vision Fund II. Through this acquisition, Intel would significantly bolster its AI portfolio while gaining access to a long-sought platform at a steep discount to the startup’s previous valuation.

Notably, Intel chief executive officer Lip-Bu Tan also serves as chairman of SambaNova. In addition, his venture capital firm, Walden International, was among the startup’s founding backers and led its $56 million Series A funding round in 2018.

Meanwhile, during his first visit to India, Tan met Prime Minister Narendra Modi on Thursday. During the meeting, he said that India’s long-term success in artificial intelligence and chipmaking will depend on scale, strong domestic leadership, and deep engineering capability.

Separately, on Monday, Intel and Tata Group signed a Memorandum of Understanding to explore the manufacturing and packaging of Intel products at upcoming fab and OSAT facilities. These components will, in turn, support the production of AI-powered PCs built in India.

Moustache Group of Hotels strengthens portfolio with new Gangtok property

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(L to R) Abhishek Khandelwal and Deepak Agarwal, co-founders of Moustache Escapes

Moustache Group of Hotels has launched its latest backpacker hostel in Gangtok, marking the brand’s official entry into the Northeast and further strengthening its position in India’s youth-travel segment.

Moreover, the new property supports the company’s broader expansion strategy to add more than 40 hostels by FY 2028 across Himachal Pradesh, Uttarakhand, Kerala, Tamil Nadu, and Karnataka, in addition to its current portfolio of 18 properties.

The Northeast continues to witness rising tourism momentum, driven by enhanced connectivity and increasing global visibility. Furthermore, industry data indicates that the region welcomed 12.781 million domestic tourists and 0.244 million foreign visitors in 2024, while air traffic reached 11.2 million passengers. These developments have reinforced the region’s emergence as a high-potential market for experiential, social, and community-oriented accommodations.

Explaining the rationale behind the Gangtok launch, Abhishek Khandelwal, Founder and Director of the Moustache Group of Hotels, said, “Gangtok is one of the most visited destinations in the Northeast, with over 1.6 million domestic travelers arriving in 2023. For Moustache, Gangtok offered the right launchpad for this region because it brings culture, community, and adventure into one place. We see a thriving traveler base here, and this hostel is built to serve that energy.”

Additionally, outlining the company’s regional pipeline, Founder and Director Deepak Agarwal said, “The Northeast is core to our long-term strategy. We are actively exploring Shillong and Cherrapunji in Meghalaya, Pelling and Yuksom in Sikkim, Tawang in Assam, Dimapur in Nagaland, and Ziro in Arunachal as our next potential destinations. These locations have a growing backpacker culture, which makes them a natural fit for Moustache Hostels. Our hostel vertical will continue to lead this push since it is designed to be accessible, social, and traveler-first.”

Moustache Group currently operates across three verticals—Luxuria by Moustache, Moustache Select, and Moustache Hostels. Furthermore, the company aims to surpass 100 properties by 2028, with projected revenues expected to exceed Rs 200 crore.

AI startup Rivesa AI secures $1.2 Mn valuation for business automation platform

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Raj Jobalia, co-founder, Rivesa AI

Rivesa AI, one of India’s fastest-growing deep-tech startups, has reached a valuation of USD 1.2 million, firmly establishing itself as an emerging contender in the global AI automation landscape.

This achievement comes at a time when markets are increasingly selective, and it demonstrates investors’ strong confidence in Rivesa’s differentiated vision: an AI system that sees, interprets, and acts across digital workflows with human-like intelligence but at machine-level speed.

Raj Jobalia and Hirdesh Mehta founded Rivesa AI, and the company is developing what many describe as the next major leap in automation—an advanced visual search and execution engine that eliminates the need for complex integrations, engineering-heavy implementations, or lengthy onboarding.

The company maintains a clear and ambitious mission to help businesses operate at 10x the speed with only 10% of the effort. “This is just the beginning,” says co-founder Raj Jobalia. “In the next decade, businesses will not just use AI; they will work with AI. Rivesa is built to be that layer: an AI that can see your tools, understand your workflows, and operate at a fundamentally different speed.”

Although visual data now surpasses text data by a ratio of 100-to-1, most AI technologies continue to be optimized for language. Rivesa aims to bridge this disparity by positioning itself as the operating system for the visual-first enterprise.

With this valuation milestone secured, the company is now preparing to accelerate its next phase of growth. Moreover, it plans to strengthen its core visual AI capabilities, launch expanded workflow libraries, build a global brand presence, partner with businesses pursuing long-term automation strategies, and expand into finance, logistics, SaaS, and enterprise operations.

As India rapidly advances as a global AI innovation hub, Rivesa demonstrates how high-impact technology can emerge from real-world operational challenges. Meanwhile, with Raj Jobalia leading product and technology and Hirdesh Mehta overseeing operations and investor strategy, the company is not merely creating another automation product. Instead, it is defining a new category—the visual AI operating system for modern enterprises.

Ultimately, Rivesa AI’s momentum signals a broader shift toward AI systems that can see, understand, and act, and moreover, the company intends to lead this next wave of intelligent automation.

Third Wave Coffee reaches 200-Café milestone with new Chembur outlet

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From L: Rajat Luthra (CEO) and Sushant Goel (cofounder) at Third Wave Coffee

Third Wave Coffee announced that it has opened its 200th café in Sindhi Society, Chembur, Mumbai, marking a major milestone in the brand’s nationwide expansion and demonstrating its steady growth since 2016.

The new outlet strengthens the company’s presence in Mumbai, where it now operates 40 cafés. Furthermore, the brand continues to pursue its strategic expansion plan and aims to add 100 new cafés by 2026.

Speaking about the achievement, Rajat Luthra, CEO, Third Wave Coffee, said, “Crossing 200 cafés is not just a numeric milestone; it reflects the trust of our community and the disciplined growth engine we have built over the years. Our focus has remained constant: build a sustainably scalable business and deliver a high-quality, consistent café experience across formats and geographies. With our roastery’s 8× automation capability, we are now equipped to support up to 700 cafes, setting a strong foundation for the next phase of expansion. In Mumbai, this will be our 40th cafe, and we plan to strengthen our presence in the region in the coming year as well. By next year, we aim to add 100 more cafés as we deepen our presence in both existing and new markets.”

The company chose Chembur for its milestone café because the neighborhood has a rapidly growing café-going culture, a high concentration of young professionals and students, and a strong base of consumers who appreciate premium, experience-forward coffee spaces. This opening represents the brand’s second outlet in Chembur and reinforces the strong traction it continues to build in the locality.

Additionally, Third Wave Coffee is expanding its omnichannel strategy. With the upgraded roastery and innovation lab in Bengaluru, the brand is enhancing its retail offerings through easy-to-brew coffee bags, signature blends, brewing equipment, and curated merchandise, enabling customers to engage with the brand both in-store and at home.

The launch of the 200th café underscores Third Wave Coffee’s robust growth trajectory, expanding national footprint, and commitment to delivering a consistent, high-quality coffee experience across markets.

Cygnett Hotels and Wyndham partner to launch two luxury Anamore Resorts

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Cygnett Hotels & Resorts today announced that it has signed two major luxury resorts under the Anamore Registry Collection by Wyndham brand, marking a notable expansion of its premium homegrown label, Anamore, while further strengthening its partnership with Wyndham Hotels & Resorts.

Anamore Registry Collection by Wyndham Pushkar will span 18 acres and include 288 rooms, positioning it as one of Rajasthan’s largest luxury destination wedding and events resorts. Additionally, the property will offer 20,000 square feet of banquet space, spacious lawns, multiple dining options, a bar, wellness facilities in a dedicated zone called Blum Mudra by Ayurvayaas, and various recreation areas. The resort aims to elevate experiential travel in the region and expects to open by the end of 2026.

Meanwhile, the developers will build Anamore Registry Collection by Wyndham Kukas Jaipur as a 25-acre greenfield luxury resort. It will feature 150 rooms, 30,000 square feet of banquet facilities, curated dining concepts, wellness offerings, and premium outdoor event spaces.

Moreover, the developers will situate it in one of Jaipur’s most prominent hospitality corridors, aiming to attract both domestic and international luxury travellers seeking culturally inspired yet modern experiences. They expect to open the resort in early 2029.

Sarbendra Sarkar, Founder and Managing Director, Cygnett Hotels & Resorts, said, “The Anamore brand represents Cygnett’s evolution into the luxury space, an aspiration to create soulful, contemporary, and culturally rich hospitality experiences. Signing these two exceptional resorts under the Anamore Registry Collection by Wyndham marks a pivotal milestone in taking Indian luxury to a global stage. Our collaboration with Wyndham brings together Cygnett’s local expertise with world-class systems, reach, and brand strength, enabling us to build destinations that celebrate Indian artistry and design while delivering internationally benchmarked service.”

Rahool Macarius, Market Managing Director Eurasia, Wyndham Hotels & Resorts, said, “These signings mark an important step in Wyndham’s strategic expansion of our upper-upscale and luxury portfolio in India and underscore the growing significance of Rajasthan within our development plans. The addition of Anamore Pushkar and Kukas strengthens the Registry Collection’s presence in the market and reflects our commitment to delivering distinctive, culturally immersive luxury experiences. Central to this momentum is our ability to bring these developments to life with the right strategic partners, and together with our partner Cygnett Hotels & Resorts, we are combining global standards, operational excellence, and locally inspired design to create exceptional experiences for travellers.”

The two new Anamore resorts signify a substantial advancement in India’s luxury hospitality landscape, reinforcing the rising demand for culturally grounded, experience-driven destinations and highlighting the continued collaboration between Cygnett and Wyndham in shaping premium travel experiences.

AI startup Serval reaches $1 Bn valuation after Sequoia-led funding round

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L-R: Jake Stauch and Alex McLeod, co-founders, Serval

AI-powered IT support startup Serval has secured $75 million in a Series B round led by Sequoia, pushing its valuation to $1 billion just three months after its previous raise, the company said.

The new capital increases Serval’s total funding to $127 million. The San Francisco-based company held a valuation of $232 million in August, according to PitchBook data. The sharp rise in valuation over the past quarter highlights growing investor confidence in AI-driven platforms challenging incumbents such as ServiceNow and demonstrating strong market traction.

Serval stated that it has increased revenue by 500% since August, although it did not provide detailed figures. Moreover, previous backers, including Redpoint, Meritech, and General Catalyst, participated in the latest round.

Founded in 2024, Serval initially launched as an AI-powered tech support assistant designed to manage routine IT tasks for employees, including fixing computer issues and granting software access. Since then, it has expanded into human resources, legal, and finance functions.

With the fresh capital, Serval plans to accelerate hiring across its go-to-market and engineering teams. The company currently employs just under 30 people but expects to grow to more than 100 next year.

AI startups such as Perplexity and Together AI already rely on Serval’s platform to automate tasks like resolving help desk queries and onboarding employees. Additionally, Serval reported that its technology automates more than 50% of IT tickets for customers.

The company’s go-to-market strategy enables it to fully replace a customer’s existing systems or serve as an “AI layer” on top of legacy setups, an approach designed to accommodate clients tied to long-term contracts.

CEO Jake Stauch stated that Serval is building a comprehensive IT service management platform powered by AI-driven automation. “We’re seeing that thesis play out as customers rip and replace incumbent systems of record,” Stauch said.

Serval’s platform operates with a two-part AI system: an AI agent that interacts with employees to interpret support requests and a tool that lets administrators create complex automations by describing them in natural language—a process the CEO refers to as “vibe coding.”

This method generates code in the background, which provides more flexibility and capability than traditional drag-and-drop workflow tools. It also reinforces security, as the employee-facing AI can only activate automations pre-approved by administrators.

“When we heard customer feedback this strong was 16 years ago when we partnered with ServiceNow,” said Anas Biad, partner at Sequoia. “When we heard it again, we couldn’t help ourselves but just go and preempt.”

P2P lending platform LenDenClub set for IPO plans, CEO says

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Bhavin Patel, CEO, LenDenClub

Vartis Platforms, which operates LenDenClub, the country’s largest peer-to-peer lending marketplace—is preparing for an initial public offering (IPO) within the next 18 to 36 months, chief executive officer Bhavin Patel said. Moreover, he said, “We are in preparation mode… and we may target it in the next 18 to 36 months timeframe,” while also noting that LenDenClub could become the first P2P lender in India to list.

Peer-to-peer lending connects individual lenders directly with borrowers and bypasses banks and other financial institutions. Additionally, a potential listing would represent a milestone for the sector, which has faced slower growth and higher compliance costs since the Reserve Bank of India tightened regulations in 2024, including stricter sourcing requirements and a ban on assured returns.

Furthermore, Vartis has established two internal targets ahead of the planned IPO: achieving an annual profit above Rs 100 crore ($11.1 million) and restructuring accounting practices to align with listed companies. Patel said, “A lot of internal structuring has to happen…we already started doing it for the last couple of quarters.”

The Mumbai-based company reported revenue of Rs 240 crore and profit of about Rs 34 crore in fiscal 2025, according to its website. For the current financial year, it expects revenue of Rs 320 crore to Rs 350 crore and profit between Rs 50 crore and Rs 60 crore, Patel added.

He also explained that RBI curbs affected loan origination and profitability in fiscal 2024, but LenDenClub revamped its platform afterward and now processes nearly 95% of India’s P2P lending volume, though Reuters could not verify that market share independently.

Additionally, Vartis Platforms operates InstaMoney, a loan marketplace, and Vartis One, its technology arm. The company, which Artha Capital and Tuscan Ventures back, last raised funding in 2021.

The Fern Hotels & Resorts opens Fern Residency Bengaluru in Seshadripuram

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Suhail Kannampilly, Managing Director, The Fern Hotels & Resorts

The Fern Hotels & Resorts announced the launch of its newest Karnataka property—The Fern Residency Bengaluru, Seshadripuram, Series by Marriott.

The hotel stands in one of Bengaluru’s most vibrant neighbourhoods, recognised for its heritage landmarks, educational institutions, and close proximity to major business and cultural hubs. Moreover, this opening expands the company’s South India portfolio to 13 properties, including both operational and upcoming locations.

Suhail Kannampilly, Managing Director, The Fern Hotels & Resorts, shared, “Bengaluru continues to evolve as a multi-faceted hub for technology, entrepreneurship, and culture, which has significantly reshaped guest expectations and hospitality trends. The launch of this hotel strengthens our presence in a high-potential market where demand for quality midscale accommodation remains consistently strong. Our focus is to complement the city’s growth by creating properties that align operational efficiency with sustainability and thoughtful design.”

Additionally, the hotel offers 79 rooms and suites designed to blend comfort with functionality and equipped with a full range of modern amenities. Revival, the all-day multi-cuisine restaurant, serves an assortment of local and global dishes for breakfast, lunch, and dinner, while the 24×7 in-room dining service provides added convenience and privacy for guests.

Furthermore, the property includes adaptable event and meeting spaces that can accommodate both corporate and social functions. Chambers 01, Chambers 02, and The Grand Ballroom serve as spacious indoor venues suitable for conferences, receptions, workshops, and celebrations, whereas The Board Room offers a private space for high-level meetings and group discussions.

These venues feature advanced AV equipment and professional event support. Guests also access a fully equipped gymnasium to maintain a balanced routine during their stay. As part of the Series by Marriott portfolio, the hotel extends Marriott Bonvoy loyalty program benefits to all its guests.

iSprout raises ₹60-Cr debt funding from Tata Capital

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Sundari Patibandla & Sreenivas Tirdhala, Co-founders, iSprout

iSprout, a provider of managed office solutions for Global Capability Centres, large enterprises, and startups, secured ₹60 crore in debt funding from Tata Capital.

Furthermore, Co-Founder and Chief Executive Officer Sundari Patibandla stated, “We will use the proceeds to accelerate expansion across key metros, strengthen enterprise-grade infrastructure, and enhance its rapidly growing managed office portfolio.”

The startup announced that it would deploy the capital to establish new centres in Tier-I and Tier-II cities and to upgrade its technology, workspace customisation capabilities, and end-to-end facility management services.

Additionally, she said, “We would like to increase our share in the flexible workspaces and scale with disciplined, asset-strategic growth.”

The company currently operates 25 centres across nine cities and manages a total portfolio of 2.5 million sq ft, which includes spaces still under development.

She also noted that the company is experiencing rising demand for customised and fully managed office environments. Moreover, she added, “The new funding enables the company to scale faster to meet this surge in demand.”

In addition, Sreenivas Tirdhala, Co-founder and Chief Strategy Officer, said that enterprises and GCCs require flexible, high-performance work ecosystems.

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