Monday, August 10, 2026
Home Blog Page 180

Grammarly raises $1 Bn from General Catalyst to enhance AI capabilities

0
Shishir Mehrotra, CEO, Grammarly

Grammarly has secured $1 billion in non-dilutive funding from General Catalyst to enhance its artificial intelligence (AI) capabilities, with the goal of evolving into a full-fledged productivity platform, the companies announced on Thursday.

Widely recognized for its writing assistant tool, Grammarly intends to use the funding to support its sales and marketing efforts, as well as pursue strategic acquisitions. The company plans to develop additional AI-driven communication and productivity tools and may also integrate third-party tools into its platform, leveraging its base of 40 million daily active users.

The investment marks one of the largest deployments from General Catalyst’s Customer Value Fund (CVF), designed to help late-stage tech firms like Grammarly accelerate growth through targeted customer acquisition. By freeing up capital usually spent on sales and marketing, Grammarly can redirect resources toward advancing its product development.

Unlike traditional equity investments, General Catalyst will not take ownership in Grammarly. Instead, it will receive a capped return based on a percentage of the revenue generated from customer acquisition efforts funded by the investment.

Founded in 2009, Grammarly generates over $700 million in annual revenue and remains profitable. The company’s recent appointment of Shishir Mehrotra—former CEO of productivity platform Coda—as its new chief executive officer underscores its ambitions to expand into a broader suite of AI-powered workplace tools.

“As Grammarly is going through a huge transformation of going from being what is mostly known as a single-purpose agent to being an agent platform, it just felt very important for us to be able to bet big in our product development and in M&A as well as in our growth strategies,” Mehrotra said in an interview.

He added that the company has an eventual goal to go public, although no imminent plans.

“I’m right now just focused on making sure we’re innovating with new products and growing as fast as we can. But when we feel ready, we’ll go public,” Mehrotra added.

If successful, this dedicated growth investment could also enhance Grammarly’s overall valuation—and indirectly benefit General Catalyst’s existing equity stake from its participation in Grammarly’s Series B round in 2017.

Based in San Francisco, Grammarly has raised more than $550 million in venture capital funding, according to PitchBook. Investors last valued the company at $13 billion in 2021.

A separate group of limited partners backs General Catalyst’s Customer Value Fund (CVF), which operates independently from the firm’s primary venture funds. The firm did not include CVF in its recently announced $8 billion capital raise.

This model reflects a broader strategic shift under CEO Hemant Taneja, as General Catalyst moves beyond the traditional venture capital framework by introducing innovative funding structures. The CVF focuses on growth-stage investments tied directly to customer acquisition performance, offering a more predictable return path.

To date, the Customer Value Fund has backed nearly 50 companies, including notable names like Lemonade and Fivetran, aligning its investments closely with measurable growth outcomes.

“Companies like Grammarly basically have a machine where they can invest dollars in sales and marketing and generate a very consistent return,” said Pranav Singhvi, Managing Director at General Catalyst. “With this wave of AI, giving Grammarly the firepower to actually go and invest could land those customers beyond the 40 million.”

Grammarly’s $1 billion non-dilutive financing from General Catalyst marks a pivotal moment in its evolution from a writing assistant into a comprehensive AI-powered productivity platform. This strategic partnership allows Grammarly to scale customer acquisition and invest more heavily in product innovation without giving up equity.

Clarks Exotica India sets new standards in hospitality in its committment to society and environment responsibilities

0
Nilisha Ghuliani, Vice President, Clarks Exotica Convention Resort & Spa

Clarks Exotica India is transforming the hospitality landscape by moving beyond mere luxury to embrace a strong dedication to social responsibility and environmental care.

This prestigious resort is setting new benchmarks in the industry by weaving sustainable practices and community-oriented initiatives into its everyday operations, demonstrating that true hospitality excellence stems not only from lavishness but from responsible leadership that supports both society and the environment.

Clarks Exotica Convention Resort & Spa distinguishes itself in an industry often associated with opulent extravagance. Instead of just offering breathtaking views and high-end amenities, Clarks Exotica pursues a meaningful mission.

The resort thrives as a close-knit community where passionate individuals unite around shared principles, motivated by a genuine commitment to social welfare and environmental sustainability. At Clarks, excellence goes beyond service quality—it is deeply embedded in the company’s culture and values.

While many luxury resorts emphasize grandeur, Clarks Exotica India takes a more holistic approach, placing people and purpose at its heart. The resort recognizes that true success goes beyond hospitality—it lies in cultivating a culture where empathy, unity, and responsibility guide every choice and action. By celebrating India’s rich heritage and embracing sustainable practices, the Clarks Exotica India team lives by values that promote respect and accountability both within the workplace and the wider community.

Earlier this year, the team at Clarks Exotica united under the inspiring initiative Operation Sindoor. Wearing vibrant shades of pink and red—colors that represent strength, gratitude, and unity—the staff came together to honor India’s armed forces, showcasing a deep-rooted patriotic spirit that permeates the resort. This gathering was more than just a ceremonial event; it was a powerful demonstration of shared purpose and a reminder that true leadership starts with unity.

At Clarks, patriotism goes beyond symbolism—it is embodied through meaningful actions, a collective mindset, and active community involvement. This campaign highlighted how uniting for a common cause can empower both individuals and the larger community they serve.

Clarks Exotica’s dedication to the environment is clearly reflected in its daily initiatives. Notably, the team’s collective tree-planting event on Earth Day stands out as a powerful example. On this occasion, employees gathered on the serene Clubhouse Lawn to plant saplings—an enduring symbol of the resort’s long-term commitment to ecological conservation. Moreover, these young trees represent hope, growth, and a shared responsibility to nurture and protect the planet.

This effort reflects a wider eco-friendly philosophy that goes beyond mere symbolism. Clarks Exotica actively engages in water conservation and emission reduction and promotes sustainable practices among its staff. By integrating green values into everyday activities, the resort fosters continuous, collective environmental stewardship, magnifying the impact of even the smallest steps.

Central to Clarks Exotica’s philosophy is a deep respect for its people. The resort fosters an environment where every team member feels valued, supported, and empowered to succeed. Through robust career development programs, ongoing employee recognition, and impactful engagement activities, Clarks paves the way for growth and leadership opportunities.

This people-centered approach promotes not only career progression but also a strong sense of belonging. Whether celebrating national achievements or advancing sustainability, each initiative aims to strengthen bonds among colleagues, the community, and the environment. For the Clarks family, culture is more than just a concept—it’s a dynamic, evolving commitment that turns daily work into a meaningful journey filled with purpose and pride.

Clarks Exotica Convention Resort & Spa represents a new vision of luxury—one where purpose and passion blend seamlessly with comfort and sophistication. By integrating social responsibility, environmental care, and people-centric values into every aspect of its operations, the resort redefines true excellence beyond mere material wealth. It stands as a shining example of how the hospitality sector can adopt deeper commitments, demonstrating that meaningful actions create lasting change.

Clarks Exotica India is elevating hospitality standards by combining luxury with a firm dedication to social and environmental responsibility. Their steadfast focus on sustainable practices and community support is setting a transformative benchmark in the industry.

In a world that often equates success with appearances, Clarks Exotica shows us that the most enduring accomplishments come from purpose, unity, and a genuine concern for our surroundings. Through its continuous efforts and the passionate commitment of its team, the resort exemplifies how hospitality can be a powerful force for good.

County Group acquires ₹400-Cr land parcel in Wave City NH24, Ghaziabad

0
Sachin Arora, founder of Moneytree Realty

NCR-based real estate developer County Group has purchased a 13.3-acre land parcel in Wave City, NH24, Ghaziabad, for approximately ₹400 crore, according to sources familiar with the matter.

Wave City, a smart city project by the Wave Group, is located next to NH-24 and covers more than 4,200 acres. The group has previously sold several land parcels to other real estate developers to generate funds.

County Group plans to develop around 1,000 residential units on the newly acquired land, offering four different apartment sizes, with the total construction area spanning over 3 million square feet.

“Buyers are keen to invest in the projects by the developer since previous projects by the developer have consistently yielded significant returns for investors, with many reporting a 3x to 4x appreciation on their initial investments. Also, Wave City NH24 has emerged as a rapidly growing residential hub and is benefited by infrastructure and connectivity to Delhi and other NCR regions,” said Sachin Arora, founder of Moneytree Realty.

The operational Hindon Airport, now offering commercial flights, significantly boosts the location’s connectivity. The upcoming Jewar International Airport will also boost property values. Once fully functional, Jewar Airport will handle millions of passengers annually, fueling economic growth and drawing increased investment into the region.

County Group has already delivered three major projects:

  • Coco County, a 12.21 lakh sq. ft. premium residential development in Sector 10, Greater Noida (West)
  • Ivy County, a 14.74 lakh sq. ft. luxury project located in Sector 75, Noida
  • County 107, a 14.78 lakh sq. ft. development in Sector 107, Noida, recognized as the city’s first ultra-luxury residential project.

Meanwhile, Wave Group has sold land to more than six developers to enhance its cash flow. Collectively, these developers plan to construct approximately 15 million square feet of real estate over the coming years.

County Group’s strategic land acquisition in Wave City, NH24, Ghaziabad, underscores the growing investor confidence in the region’s real estate potential. County Group plans to develop 1,000 residential units and leverage its proven track record of premium projects to further strengthen its presence in the NCR property market.

Horizon3.ai in talks to raise $100 Mn in new round

0
Snehal Antani, CEO & Co-founder of Horizon3.ai

Horizon3.ai, a cybersecurity startup known for its autonomous penetration testing tools, is in the process of raising $100 million in a new funding round and has already secured at least $73 million, according to a recent SEC filing.

The round is being led by NEA, as confirmed by two individuals familiar with the matter. One source estimated the company’s valuation at over $750 million, although it remains unclear whether this figure is pre- or post-money. Another source stated that the company has either completed or is about to complete the full $100 million raise and generates approximately $30 million in annual recurring revenue.

With this deal, Horizon3.ai marks NEA’s second significant investment in a cybersecurity startup within a month, following Veza’s $108 million funding round announced in April at an $800 million valuation.

Back in August 2023, Horizon3.ai secured $40 million in a Series C round led by Craft Ventures, with participation from SignalFire. That funding raised the company’s total capital to $78.5 million and aimed to expand its R&D efforts, strengthen channel partnerships, and grow its engineering team, according to co-founder and CEO Snehal Antani.

A team of former U.S. Special Operations cyber operators, entrepreneurs, and cybersecurity experts founded Horizon3.ai in 2019. Prior to co-founding the company, CEO Snehal Antani served as CTO at Splunk and led cyber teams within the U.S. Military’s Joint Special Operations Command.

As AI-powered attacks become increasingly sophisticated and widespread, the San Francisco-based startup offers autonomous threat detection tools designed to help organizations defend against these emerging threats.

In a significant milestone, Horizon3.ai received FedRAMP authorization earlier this month, allowing it to sell its cybersecurity solutions to U.S. federal agencies. Additionally, in February, the company reported 101% year-over-year revenue growth and surpassed 150% of its Q4 pipeline goals, although it did not disclose specific figures.

Horizon3.ai’s latest funding round underscores growing investor confidence in AI-driven cybersecurity solutions, as threats continue to evolve in complexity and scale. With strong backing from major firms like NEA, rapid revenue growth, and recent FedRAMP authorization, Horizon3.ai is well-positioned to expand its footprint in both commercial and government sectors. Its unique foundation—built by cybersecurity veterans and ex-military operatives—gives it a strategic edge in tackling today’s most advanced cyber threats.

Imarticus Learning acquires MyCaptain for Rs 50-Cr

0
Nikhil Barshikar, Founder and CEO of Imarticus Learning

Mumbai-based upskilling company Imarticus Learning has acquired Bengaluru-based education platform MyCaptain in a cash-and-stock deal worth ₹50 crore. MyCaptain focuses on helping college students, fresh graduates, and early-stage professionals develop skills and explore careers in emerging, non-technical domains.

The platform has established a presence in over 1,500 campuses, with 60% of its users hailing from Tier II and III cities and 80% aiming for creative or entrepreneurial careers.

This acquisition aligns with Imarticus Learning’s strategy to expand its reach to 5 million learners over the next three years, particularly in smaller cities. By bringing MyCaptain under its umbrella, Imarticus enters the college skilling space with access to 60+ live, cohort-based programs centered on new-age career paths. MyCaptain claims to have supported over 500,000 learners so far.

By incorporating MyCaptain’s employability boot camps—covering domains like digital marketing, design, and content creation—Imarticus Learning aims to expand its presence in offline education. The company plans to roll out these offerings through 20+ physical classroom centers across more than 16 cities.

“Our collaboration with MyCaptain marks a pivotal step in strengthening Imarticus’ vision to be the lifelong career partner for learners across their journey,” Nikhil Barshikar, founder and CEO of Imarticus Learning, said.

The acquisition of MyCaptain marks Imarticus Learning’s fourth acquisition in the past four years, following its takeovers of Hero Mindmine, game-based learning platform StratOnBoard, and social learning platform Eckovation. According to Barshikar, while earlier acquisitions enabled the company to broaden its offerings and cater to changing learner demands, MyCaptain will play a crucial role in enhancing accessibility to non-tech career paths and accelerating the company’s expansion into Tier II cities and beyond.

With the acquisition, Imarticus’s team will grow to over 850 people.

Mynavi India Group, a subsidiary of Japan’s leading HR firm Mynavi Corporation, was among the investors in MyCaptain.

Founded in 2012 by Nikhil Barshikar and Sonya Hooja, Imarticus Learning aims to bridge the skill gap by offering industry-aligned education, specialized training, career support, and mentorship. Its programs prepare learners for careers in areas such as finance, data science, analytics, technology, marketing, and management—catering to the dynamic demands of today’s job market.

“MyCaptain began as a movement to challenge the status quo and open up alternate career paths for students across the country,” said Mohammed Zeeshan, co-founder and CEO of MyCaptain.

“With Imarticus’ scale and Nikhil and Sonya’s shared belief in our mission, we now have the chance to take everything we have built and scale it even further, making new-age careers more accessible and achievable for more than 1 million students across India,” he added.

IPO-bound Imarticus Learning claims to have empowered over 1 million learners to date and enabled the placement of more than 75,000 individuals through collaborations with a network of 3,500+ employer partners.

Imarticus Learning’s acquisition of MyCaptain marks a strategic move to deepen its presence in the college skilling space and expand access to non-tech career pathways, especially in Tier II and III cities. With a growing learner base, strong employer partnerships, and a series of targeted acquisitions, the IPO-bound company is positioning itself as a leading force in India’s evolving edtech and upskilling landscape.

Snabbit raises $19 Mn from Lightspeed to fuel growth in rapid delivery market

0
Aayush Agarwal, Founder & CEO, Snabbit

Snabbit, a rapid delivery-focused quick service provider, has secured $19 million (approximately ₹160 crore) in a new funding round led by Lightspeed, with continued support from existing investors Elevation Capital and Nexus Venture Partners, according to founder Aayush Agarwal.

Specializing in rapid delivery of household assistance, Snabbit offers trained professionals within 10 minutes for tasks like general cleaning, dishwashing, laundry, and more — redefining convenience in the at-home services segment.

This latest funding round comes just four months after Snabbit raised $5.5 million in its Series A. It also follows Pronto’s announcement of a $2 million seed funding round.

Beyond Snabbit and Pronto, the rapid delivery model is gaining serious traction among investors. Startups like Slikk and others are increasingly attracting funding as they continue to innovate and create new layers of demand within the evolving quick commerce ecosystem.

However, Agarwal does not worry about competition. “Be it Urban Company, Pronto, Pync, or any other startup, we are not bothered. They have copied what Snabbit built and are currently solving the problems we had solved one year ago,” Agarwal said in the interview.

Even with similar business models and rising competitors, success ultimately depends on execution. As an early entrant in the space, Snabbit holds a competitive advantage, he explained. “All our rivals came up with the idea only after us. So, it becomes our battle to lose, not their battle to win,” Agarwal added.

Agarwal did not disclose the company’s current valuation.

Based in Mumbai, Snabbit has so far concentrated its operations in select areas of Bengaluru and Mumbai. With the fresh infusion of capital, the company plans to rapidly scale its presence across India.

According to Agarwal, Snabbit aims to expand into more than 200 micro-markets across metro cities within the next nine months.

Zepto has emerged as one of India’s most prominent consumer internet startups, having raised nearly $2 billion from various investors.

Interestingly, Nexus Venture Partners and Lightspeed — both major backers of Snabbit — are also investors in Zepto, highlighting growing investor confidence in the quick commerce and instant services sector.

“We closed the round in under a week’s time; that should tell you,” Agarwal said when asked about the investor sentiment around companies in the space.

Rahul Taneja, partner at Lightspeed, said Snabbit “is transforming home services in India by bringing speed, structure, and trust to a sector that has largely operated informally until now.”

“Snabbit continues to execute with clarity and purpose in a space that’s long overdue for change,” said Suvir Sujan, co-founder and managing director, Nexus Venture Partners. “They’ve taken a complex, hyperlocal problem and built a scalable, full-stack solution that delivers value to both consumers and professionals.”

Snabbit’s rapid rise and strong investor backing reflect the growing momentum in India’s quick commerce and instant service space. With an ambitious expansion plan, experienced leadership, and support from prominent VCs, Snabbit is positioning itself as a frontrunner in this evolving market. As execution becomes the key differentiator, the company’s early-mover advantage could prove critical in staying ahead of the curve.

Royal Orchid Hotels achieves ₹343.18-Cr revenue in FY25 results

0
Chander K. Baljee, Chairman & Managing Director, ROHL

Royal Orchid Hotels Ltd. (ROHL), among India’s rapidly expanding hospitality brands, has announced strong financial results for the fiscal year ending March 31, 2025. Driven by continued growth in domestic travel and an expanding property portfolio, the company is strengthening its foothold in the Indian hospitality market through solid earnings and strategic growth plans.

For FY25, Royal Orchid Hotels reported a consolidated income of ₹343.18 crores, up from ₹312.70 crores in FY24—demonstrating the effectiveness of its portfolio approach and consistent revenue growth from existing properties. The company also reported a robust return on capital employed (ROCE) of 17.32%, indicating strong profitability and effective use of capital.

Royal Orchid Hotels recorded a consolidated cash profit of Rs 68.22 crores for the year, with earnings per share (EPS) standing at Rs 17.23. In the quarter ending March 2025 (Q4 FY25), the company reported an income of Rs 92.34 crores, up from Rs 82.30 crores in the same quarter the previous year.

Chander K. Baljee, Chairman & Managing Director, said, “We’re thrilled to have delivered balanced portfolio growth across regions while introducing new travel experiences to our global patrons. The momentum in travel has continued, and we have paid a lot of attention to what our customers have said and continue to strategically enhance and upgrade our assets and offerings, catering to the evolving needs of the Indian guest. With 30+ hotels signed across the country and a growing pipeline, we are gearing up to cater to the diverse needs of travelers across segments. Our focus on return of capital is paramount, and we continue to measure that metric with a keen eye while delivering increases in same-store revenue across the portfolio. We look forward to continuing to deliver sustainable growth as we continue with our strong expansion plans for the coming quarters.” 

The group’s EBITDA for the year reached Rs 96.78 crores, a slight increase from Rs 95.16 crores in FY24. Profit after tax was Rs 47.50 crores, showing a small decline from Rs 50.82 crores the previous year. Despite this marginal dip, the company maintains a stable financial path with ongoing positive cash flows and strong returns for investors.

In alignment with its asset-light growth strategy, Royal Orchid has signed over 30 new hotel deals across India. Arjun Baljee, president, said, “Our asset-right model has enabled us to sign a record number of new deals, taking our pipeline to over 30+ properties across segments and brands. The successful opening of 14 new Regenta hotels (963+ keys) has further strengthened our presence in the midscale and value segments. We are diversifying our portfolio with new brands catering to different segments and look forward to the opening of Iconiqa Hotel Mumbai International Airport, which is a category-defining upscale lifestyle hotel in India.”

The upcoming property at Mumbai Airport’s Terminal 2 aims to become a key asset in Royal Orchid’s portfolio, targeting upscale travelers and business professionals. This development aligns with the brand’s ongoing push into premium lifestyle offerings while continuing to strengthen its presence in the mid-market and business hotel segments.

Currently, the Royal Orchid and Regenta network includes over 110 hotels nationwide, featuring more than 90 operational Regenta hotels. Regenta remains the group’s primary growth driver, with sub-brands like Regenta Central, Regenta Resort, Regenta Place, and Regenta Inn catering to a wide range of market segments from budget to upscale.

To boost guest retention and brand loyalty, the company is actively enhancing its Regenta Rewards loyalty program. Moreover, this initiative will unify the entire hotel portfolio under a single platform, thereby delivering consistent and rewarding experiences.

Royal Orchid Hotels continues to solidify its position as a leading player in India’s hospitality sector through strategic property additions, a diverse portfolio, and a strong focus on customer loyalty.

With its upcoming premium airport property and a robust network under the Regenta brand, the company is well-equipped to meet the evolving needs of both leisure and business travelers while delivering sustained financial stability and growth.

Agritech startup GROWiT raises $3 Million in funding round

0
Saurabh Agarwal, Founder and CEO, GROWiT

Agritech startup GROWiT India announced on Wednesday that it has secured $3 million in a funding round led by GVFL. According to the company’s statement, additional investors included Veloce Opportunities Fund, JITO, We Founder Circle, Sunicon Ventures Fund, Progrowth Ventures, and Hyderabad Angels.

GROWiT plans to use the capital to pursue its ambitious expansion strategy, enhance its research and development capabilities, and upgrade its technology infrastructure to provide better support for farmers.

Mihir Joshi, Managing Director, GVFL, said, “Agriculture in India still lags behind in terms of technological advancements. GrowiT has a large innovation product portfolio and pan-India distribution channel. They are helping farmers grow more and earn better by focusing on solving these key problems at an affordable cost and with easy accessibility. They are making climate-friendly, sustainable farming methods more affordable and effective. As a fund, this is a key focus area for us, and we see GROWiT as a strong player emerging in this segment.”

“GROWiT aims to transform agriculture by increasing yields, cutting input costs, and driving sustainable farming, positioning us as a comprehensive, one-stop solution for farmers,” GROWiT founder and CEO Saurabh Agarwal added.

“With climate change emerging as a huge challenge in the agriculture sector, it is essential that we build resilience with the help of technology. The majority of India still depends on agriculture; however, the sector is still starved of technology due to it being inaccessible or too expensive. At GROWiT, our commitment is towards developing sustainable agriculture with optimization of productivity by making available affordable tools like India’s First Pocket-Friendly Soil Health Testing Device, which provides soil composition insights and crop recommendations tailored to soil types. GROWiT aims to transform agriculture by increasing yields, cutting input costs, and driving sustainable farming, positioning us as a comprehensive, one-stop solution for farmers,” he also added.

In April 2025, farmers and agricultural partners responded positively when GROWiT introduced India’s first pocket-friendly soil testing device. The agritech startup’s also offers a range of flagship products—such as mulch films, crop covers, and weed mats—aimed at enhancing crop protection, increasing agricultural productivity, and encouraging sustainable farming practices.

Currently, GROWiT operates through a robust on-ground franchise network of over 650 partners across 12 states, impacting more than 225,000 farmers with its innovative products and services.

Apeejay Surrendra Park Hotels achieves ₹84-Cr net profit in FY25

0
Vijay Dewan, managing director, Apeejay Surrendra Park Hotels

Apeejay Surrendra Park Hotels Limited (ASPHL) has announced its financial results for Q4 and the full fiscal year FY2025, reporting strong performance across key metrics.

For FY25, the company posted a net profit of ₹84 crore, marking a 21% year-on-year increase. EBITDA rose 10% YoY to ₹226 crore. In Q4 alone, ASPHL registered a net profit of ₹72 crore, a significant 44% rise compared to the same period last year. The company also achieved an industry-leading occupancy rate of 92% during Q4 FY25. Notably, ASPHL declared its first-ever dividend of ₹0.5 per share for the financial year ending March 31, 2025.

The company has fueled its impressive growth by strategically expanding into emerging Tier 2 and Tier 3 markets. Furthermore, recent initiatives—such as the acquisition of Zillion Hotels and Resorts and the launch of Zone Connect by The Park in Jaisalmer—are actively redefining the hospitality experience in India. These developments, in turn, align seamlessly with ASPHL’s vision to strengthen its footprint and broaden its portfolio of upscale and upper mid-scale properties.

Looking ahead, the group aims to more than double its key count to 5,048 over the next five years; The company will notably develop 830 of these keys under its owned projects.

Commenting on the Q4 & FY25 performance, Vijay Dewan, managing director, Apeejay Surrendra Park Hotels, said, “2024-25 has been a standout year for the company in terms of growth and progress. This success was made possible by the commitment and dedication of our teams. Quarter 4 has been our best ever performance, with topline growth of 16 percent and EBITDA growth of 22 percent. THE Park Hotels achieved India’s highest occupancy of 92 percent and maintained its leadership in RevPAR in the upper upscale segment. Flurys also continued its robust trajectory with a 34% growth during the same period.”

“We are also thrilled to announce our first-ever dividend of 50 percent. This is a milestone event in the history of the company and is a reflection of our growth momentum and commitment to share our success with those who believe in us,” he added.

Apeejay Surrendra Park Hotels Limited’s strong financial performance in FY25—highlighted by significant profit growth, high occupancy rates, and strategic expansion—clearly underscores its robust position in India’s hospitality sector.

Elon Musk’s Neuralink raises new funding at $9 Bn valuation

0
Elon Musk, co-founder, Neuralink

Elon Musk’s brain implant company, Neuralink, has secured $600 million in funding, placing the company’s valuation at $9 billion prior to the new investment, according to sources familiar with the matter.

Privately executed stock transactions reported that investors valued the startup at approximately $5 billion in 2023. Earlier, the company raised $280 million in a funding round led by Peter Thiel’s Founders Fund.

Neuralink is currently testing its brain implant device, that will assist people with spinal cord injuries. The technology has enabled the first patient to play video games, browse the internet, post on social media, and control a cursor on a laptop using only brain signals.

In April, reports indicated that Neuralink planned to raise about $500 million. Earlier this month, the company’s speech restoration device received the U.S. Food and Drug Administration’s (FDA) “breakthrough” designation, a significant milestone signaling the device’s potential impact.

Elon Musk has ambitious plans for Neuralink’s technology, envisioning it as a tool not only for treating conditions like obesity, autism, depression, and schizophrenia but also for everyday applications such as web browsing and even telepathy. He imagines a future where healthy and disabled individuals can visit local facilities for quick and easy surgical implant procedures.

With its latest funding round and FDA breakthrough designation, Neuralink is rapidly advancing toward transforming how brain-computer interfaces can improve lives. Backed by significant investment and visionary leadership, the company is poised to make major strides in medical technology and reshape the future of human-machine interaction.