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Mythik raises $15 Mn from Sakal group and Shah Rukh Khan’s family office

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BRL Editor
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Jason Kothari, Founder, Mythik

Jason Kothari-led Mythik announced on Wednesday that it has raised $15 million in a seed funding round, which the company claims is the largest of its kind in India’s media tech sector.

The round saw participation from a range of investors, including Sakal Media Group, BITKRAFT, VC Grid, Visceral Capital, Shah Rukh Khan’s Family Office, the Patni Family Office, Saif Saeed Ghobash (Secretary General of the Abu Dhabi Executive Council), Jaynti Kanani (Co-founder of Polygon), Pravin Jain (Founder of Tridiagonal AI), Marc Younan (former Principal at Redbird Capital), and Deepen Parikh (Co-founder of Courtside Ventures).

Last month, Kothari—formerly CEO of Housing.com—launched Mythik, a global entertainment company based in India. The company aims to bring Eastern mythology, folklore, and history to global audiences and aspires to become a “Disney from the East,” according to a company statement.

“We are excited about the world-class and strategic investors we have brought together and look forward to realising Mythik’s vision and mission to bring Eastern mythology, history and folktales to the forefront of global entertainment and inspire happiness, peace and hope,” said Kothari, who also invested in the company.

“These ancient stories have a total built-in audience of 3.5 billion people globally and will be brought to life in a modern, immersive way using cutting-edge technology,” the company said.

Moreover, Mythik’s founding team features former senior executives from leading global entertainment and tech companies, including Disney, Netflix, Amazon Studios, Jio, and Tencent.

By blending Eastern mythology and storytelling with modern media formats, Mythik aims to create a global entertainment brand rooted in Indian heritage—positioning itself as a “Disney from the East.”

VedaOils: The Indian Brand Quietly Powering the Global Natural Skincare Boom

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Amala Sree Murali
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In recent years, more people are ditching harsh chemicals and turning to natural skincare and chemical-free beauty alternatives. Honestly, it’s no surprise. Consumers are reading labels, doing research, and realizing that what they put on their skin matters just as much as what they eat. 

Clean beauty isn’t just a trend, it’s a lifestyle rooted in simplicity, wellness, and getting back to nature. More and more people are swapping out harsh, chemical-heavy products for gentler, natural options, and That is where VedaOils truly shines. Think cold-pressed oils, soothing soap bases, and plant-powered extracts all crafted with purity and sustainability in mind! Whether you are experimenting with your first DIY face mask or running your own skincare line, VedaOils makes it easy to create products that are kind to both skin and the planet.

In a world that is craving cleaner choices, VedaOils is proving that natural can also mean powerful and professional.

Inside VedaOils: From Local Supplier to Global Enabler

What started as a modest operation in India has now turned into a global enabler of clean beauty. VedaOils started with just a few pure essentials: lavender, tea tree, eucalyptus, the kind of oils you turn to for extracting soothing, natural benefits. What began as a small offering has now grown into a full-fledged hub with over 1,000 ingredients for skincare and wellness.

And they are not just selling oils anymore. Their extensive range includes:

  • Cold-pressed carrier oils like jojoba and almond
  • Raw butters such as shea and cocoa
  • Herbal powders, waxes, and soap bases
  • Natural clays and exfoliants
  • DIY skincare kits and ready-to-use cosmetic bases

Whether you are a weekend DIY enthusiast or running a full-fledged natural beauty brand, VedaOils has the right ingredients to support your vision.

VedaOils ensures smooth international shipping, delivering premium-quality products worldwide. Backed by trusted global quality certifications like ISO, GMP, and USDA Organic, we guarantee purity, safety, and consistency so customers everywhere receive only the best, hassle-free.

Bridging B2B and D2C Needs

One of the things that really sets VedaOils apart is how seamlessly it caters to both small and large-scale needs. Most of us in the clean beauty space know the struggle of sourcing ingredients in flexible quantities. Too often, bulk suppliers ignore the little guys, while hobby shops fall short on quality and range. VedaOils bridges that gap beautifully.

You can start with a 100g pouch to test a formulation or go all-in with a 25kg drum for manufacturing. No complicated minimum orders. No compromises on quality. That is a big deal for indie brands trying to find their footing or small-batch makers experimenting with new recipes.

Its transparent labeling, spill-proof packaging, and easy online ordering make the whole process feel less like a supply run and more like a curated shopping experience.

Supporting the DIY and Handmade Skincare Movement

What makes VedaOils stand out isn’t just its massive product catalog, it’s how it makes its products. Backed by advanced R&D facilities and modern production units, VedaOils ensures that every ingredient is crafted with care, consistency, and science. 

These oils are extracted through traditional techniques like cold press and steam distillation. VedaOils is successful due to its commitment and vision. It also contributes to environment welfare and also is pollution free due to no use of harsh chemicals which damages skin.

Spotlight: Soap Base Segment 

The soap bases are free from sulfates, gentle on the skin, and ready to use straight out of the pack taking the guesswork out of clean, conscious beauty.

Whether you are making face masks, soaps, or scrubs, you can feel good knowing you are working with clean beauty ingredients that are gentle yet effective. If you are just starting a soap-making business or running a cozy home-based skincare brand, VedaOil soap base is like a secret weapon.

Growing Global Footprint

Planning to take your brand global? VedaOils is built to grow with you. From seamless logistics to international shipping and customizable private labeling, they make scaling up feel effortless. With a solid footprint in markets like the US, UK, UAE, and Southeast Asia, VedaOils supports everything from B2B and D2C to white-label solutions making it a trusted partner no matter your business model or stage.

What Makes VedaOils Stand Out?

In the clean beauty world, transparency isn’t just a bonus, it is a must. That is where VedaOils shines. Every product includes clear, honest details so you know exactly what you are using. New to formulating? It’s easy DIY guides and educational blogs help you learn as you go. With low minimum orders and sample kits, testing your ideas feels exciting, not overwhelming. Whether you are a hobbyist or launching your own line, VedaOils is more than a supplier as it can be your partner in creativity.

Industry Outlook: A Booming Market for Natural Ingredients

VedaOils brings clarity and confidence to clean beauty. Each product includes clear instructions and safety info, making it easy to use and trust. New to formulating? The DIY guides, blogs, and tutorials of VedaOils simplify the learning process. With low MOQs and sample packs, you can test ideas without overspending. VedaOils offers more than quality ingredients as it provides the tools, knowledge, and support to help you grow your natural skincare journey with ease.

Final Thoughts

Their success lies not in hype, but in heart. They’ve built trust through consistency, supported innovation with quality, and opened doors for creators who want to do better for their skin, their customers, and the planet. So whether you are a hobbyist testing your first shea butter balm or a beauty brand, you can always seek their help and expertise to grow your brand worldwide! 

Leela Hotels parent Schloss Bangalore plans ₹3,500-Cr IPO

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BRL Editor
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Schloss Bangalore, the operator of the renowned “The Leela Hotels” luxury hotel brand in India, is set to launch its initial public offering (IPO) on May 26, 2025. The IPO aims to raise ₹3,500 crore, comprising a fresh issue of ₹2,500 crore and an offer for sale (OFS) of ₹1,000 crore.

The company will close the three-day public issue on May 28 and expects to list its shares on both the BSE and NSE on June 2. The company has not yet disclosed the price band or lot size. Backed by Brookfield, the hospitality major reduced its IPO size by 30% from the initially proposed ₹5,000 crore.

Anchor investors will be able to place their bids on May 23. Although the company has not explained the reason for reducing the issue size, JM Financial, Kotak Mahindra Capital, Axis Capital, Morgan Stanley, and SBI Capital are managing the IPO, while KFin Technologies is serving as the registrar.

The company has reserved up to 75% of the IPO for Qualified Institutional Buyers (QIBs), allocating up to 60% of that portion—around ₹1,575 crore—for anchor investors. It has also allocated 15% of the issue to non-institutional investors and set aside the remaining 10% for retail investors.

Founded in 2019, Schloss Bangalore ranks among India’s largest luxury hospitality companies by room count. As of May 2024, it operates 12 properties with a total of 3,382 keys under The Leela Hotels, Palaces, and Resorts brand.

Five of these properties—located in Bengaluru, Chennai, New Delhi, Jaipur, and Udaipur—are fully owned by the company. These hotels combine traditional Indian architectural elegance with modern luxury, catering to premium business and leisure travellers.

In addition to its hotel accommodations, Schloss Bangalore operates 67 fine-dining restaurants and bars, along with 12 wellness centres. Its flagship spa at The Leela Palace Bengaluru is being developed in partnership with luxury wellness brand Soneva.

The company will issue fresh shares worth ₹2,500 crore—revised down from the initially planned ₹3,000 crore—while Brookfield will sell shares worth ₹1,000 crore, half of its original offer size. The company will primarily use the proceeds from the fresh issue to repay debt, allocating ₹2,300 crore for loan repayment and the remaining amount for general corporate purposes.

A consortium of top investment banks—including JM Financial, BofA Securities India, Morgan Stanley India, JP Morgan India, Kotak Mahindra Capital, Axis Capital, Citigroup Global Markets India, IIFL Capital Services, ICICI Securities, Motilal Oswal Investment Advisors, and SBI Capital Markets—is managing the IPO. KFin Technologies serves as the registrar to the issue.

The upcoming IPO of Schloss Bangalore marks a significant step for the company as it looks to strengthen its financial position and expand its footprint in India’s luxury hospitality sector.

Operating under the iconic “The Leela” brand, Schloss Bangalore has established itself as a major player with a portfolio of premium properties, fine-dining experiences, and wellness offerings. The public issue not only reflects investor confidence in the luxury hotel space but also signals growth potential for The Leela Hotels brand as it continues to cater to high-end business and leisure travelers across the country.

InsuranceDekho to merge with RenewBuy

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BRL Editor
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Ankit Agrawal, co-founder & CEO, InsuranceDekho

InsuranceDekho and RenewBuy have signed merger documents through a share swap deal, valuing the combined entity at ₹7,400 crore, according to sources familiar with the development. Leading private equity investors back both companies, which remain unlisted.

In October 2024, report reveals that the two companies were discussing a potential merger.

“InsuranceDekho, the insurance marketplace backed by CarDekho, is acquiring insurtech startup RenewBuy in a share-swap deal,” said a source.

All four founders from both companies are expected to continue leading the merged organisation. Ankit Agrawal, the founder of InsuranceDekho, is likely to assume the role of Chief Executive Officer.

As part of the merger agreement, the companies will allot shares in InsuranceDekho to RenewBuy’s investors based on the relative valuations of the two firms, according to sources familiar with the deal.

Once the merger receives regulatory approval, the combined entity will become one of the top three physical insurance distributors in India by annual premium. The merged company is expected to manage a premium book of ₹6,000 crore — five times larger than the standalone scale of each platform.

“In insurance distribution space, some players are pursuing inorganic growth to drive scale, unlock cost synergies, and strengthen market share,” said Sanjay Doshi, partner, KPMG.

The insurtech sector in India has experienced rapid expansion, with over 150 startups now active—among them, 10 unicorns and soonicorns, and more than 45 minicorns, according to a report by Boston Consulting Group. The industry’s revenue has grown 12 times over the past five years, reaching $750 million annually, and it now boasts a combined valuation of $13.6 billion.

Deal discussions value InsuranceDekho, a competitor of Policybazaar, at ₹5,400 crore, while valuing RenewBuy at ₹1,800 crore. Established in 2015, RenewBuy specializes in digital insurance distribution and has built a network of over 125,000 advisors spanning more than 1,500 towns across India.

The merger of InsuranceDekho and RenewBuy marks a significant milestone in India’s insurtech industry, creating a stronger, more competitive player with a combined valuation of ₹7,400 crore.

Eight Continents Hotels & Resorts launches Legacy Hotels

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BRL Editor
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Eight Continents Hotels & Resorts unveiled its ultra-luxury brand, Legacy Hotels, at The Great India Travel Bazaar 2025. Presented alongside global travel leaders, this new division aims to redefine aristocratic hospitality by converting royal residences into immersive, world-class palace experiences for discerning travelers.

Legacy Hotels goes beyond being just a collection of luxury properties. It pays homage to India’s majestic heritage by blending noble traditions, timeless architecture, and contemporary elegance.

The brand builds itself on five core pillars: regal legacy, timeless luxury, architectural magnificence, personalized hospitality, and cultural immersion. Rather than treating these aspects separately, Legacy seamlessly integrates them to create an unforgettable experience.

Each Legacy Hotel carefully restores and transforms a unique royal residence into an ultra-luxury retreat. The hotel welcomes guests with grand ceremonial arrivals, provides attentive service through personal butlers, and offers specially curated experiences such as private palace dinners, horseback safaris, and barge cruises.

The dining experience draws inspiration from ancient royal kitchens, while wellness offerings combine traditional therapies with contemporary spa treatments—creating a perfect blend of indulgence, heritage, and rejuvenation.

Speaking at the brand’s unveiling, Haninder Sachdeva, CEO of Eight Continents Hotels & Resorts, said, “Legacy is a soulful tribute to the art of noble living. In an age where speed and uniformity dominate, Legacy offers a rare and deeply enriching experience. These are not hotels, but sanctuaries of history, storytelling, and soul, designed to help our guests connect with the grandeur of the past while enjoying the sophistication of the present.”

Legacy Hotels designs experiences for high-net-worth individuals, royalty enthusiasts, destination wedding travelers, and the global elite, allowing them to truly live royalty rather than just remember it.

By debuting at one of Asia’s most influential travel platforms, Eight Continents has made a strong statement: Legacy Hotels represents not only its expansion into the ultra-luxury segment but also sets a new global standard in heritage hospitality. The first signature palaces under the Legacy brand will soon open across India, the Middle East, and Europe, inviting guests worldwide to immerse themselves in a realm of grandeur and elegance.

Embassy Office Parks REIT secures ₹2000-Cr via debt issue at 7.21%

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BRL Editor
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Ritwik Bhattacharjee, chief executive officer, Embassy REIT

Bengaluru-based Embassy Office Parks REIT raises ₹2,000 crore through coupon-bearing debt with a three-year tenure at an interest rate of 7.21%. The company will use the proceeds to refinance existing debt, which should reduce interest costs by approximately 77 basis points.

“We are pleased to announce this fundraiser. This transaction showcases Embassy REIT’s fortress balance sheet and reinforces our standing as the leading credit in India’s commercial real estate sector. We maintain a well-diversified and conservative debt book, and this refinancing positions us well to capitalize on future growth opportunities,” said Ritwik Bhattacharjee, chief executive officer, Embassy REIT.

Embassy REIT priced the Series XIII NCDs (2025) at an effective interest rate, responding to strong demand from institutional investors, with 11 entities participating in the issuance.

Bhattacharjee stated that Embassy REIT will exercise the call option on its ₹500 crore Series IX NCDs, which carry a coupon rate of 8.03%. Embassy REIT plans to make the early repayment on June 4, 2025, three months before the original maturity date of September 4, 2025.

Looking ahead to FY26, Bhattacharjee acknowledged the prevailing socio-economic challenges; however, he expressed confidence in sustained demand, particularly driven by Global Capability Centers (GCCs). Furthermore, he highlighted Embassy REIT’s commitment to execution, cost optimization, and successfully achieving its FY26 targets.

Embassy REIT has projected distributions between ₹24.50 and ₹26 per unit, representing a 10% year-on-year growth at the midpoint. It also anticipates occupancy levels of 93–94% by value and expects net operating income (NOI) to range between ₹35.9 billion and ₹38.1 billion, indicating a 13% increase.

As India’s first publicly listed real estate investment trust and the largest office REIT in Asia by area, Embassy REIT owns and operates a 51.1 million square foot portfolio comprising 14 office parks. These properties are strategically located across Bengaluru, Mumbai, Pune, NCR, and Chennai, further strengthening its presence in key commercial hubs.

Embassy Office Parks REIT continues to strengthen its financial position through strategic debt refinancing and proactive capital management. Moreover, with robust institutional interest, improving occupancy levels, and projected growth in distributions and net operating income, the REIT remains well-positioned to navigate market challenges and meet its FY26 goals. Additionally, its expanding footprint across key Indian cities reinforces its leadership in the commercial office space sector.

Foxconn to invest $1.5 Bn in India to boost Apple manufacturing

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BRL Editor
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Foxconn has announced a ₹1.5 billion investment in its India unit, as Apple continues to shift more of its manufacturing operations out of tariff-affected China.

According to a filing on the London Stock Exchange, Foxconn’s Singapore-based subsidiary will acquire 12.77 billion shares in Yuzhan Technology India at ₹10 per share, totaling an investment of ₹127.74 billion (approximately $1.5 billion).

Foxconn’s unit, Yuzhan Technology India, operates out of Tamil Nadu, where it manufactures electronic components and assembles Apple iPhones.

Apple is increasingly positioning India as a key alternative manufacturing hub in response to supply chain disruptions and higher costs driven by U.S. tariffs on China, as reported by Reuters last month.

In March, Apple significantly boosted its production in India, exporting nearly 600 tons of iPhones worth $2 billion to the United States.

Foxconn’s $1.5 billion investment in its India unit marks a significant step in Apple’s broader strategy to diversify its supply chain and reduce reliance on China. With India emerging as a key manufacturing hub, especially for iPhones, this move not only strengthens local production capabilities but also reinforces Apple’s long-term commitment to the region.

Evoke Experiences expands with new destinations and experiential hotels

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BRL Editor
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Bhavik Sheth - Chief Operating Officer - Evoke Experiences

Experiential hospitality brand Evoke Experiences has announced a strategic expansion that represents a significant evolution in its business model.

Renowned for its immersive glamping retreats and cultural tent cities, the company now plans to broaden its footprint in the hospitality sector. To achieve this, it will add a diverse range of experiential properties to its portfolio, further enhancing its offerings and appeal to a wider audience. It is also opening doors to partnerships through asset lease and management collaborations.

With iconic destinations such as Rann Utsav – The Tent City, Statue of Unity Tent City-1, Gandhisagar Forest Retreat, the newly launched Evoke Dholavira, and the upcoming Evoke Ram Bagh in Ayodhya featuring 156 keys, Evoke Experiences has, over time, built a strong reputation for delivering destination-driven stays. Notably, these experiences seamlessly blend luxury with culture, nature, and sustainability, the company stated.

The brand currently manages a total of 750 keys and is aiming to surpass the 1,000-key mark by the end of 2025.

Evoke Experiences is gearing up to launch a new property in Gir, further reinforcing its presence in ecologically rich regions. According to the release, this new site highlights the company’s increasing focus on permanent experiential resorts, marking a shift from seasonal operations to year-round offerings.

In a notable development, Evoke Experiences has extended an invitation to hospitality asset owners and landholders across India to collaborate through long-term lease or management agreements. Leveraging its proven strengths in branding, operations, and storytelling-driven design, the company further aims to transform underutilized or lesser-known destinations into profitable, world-class experiential stays.

“We believe the next wave of hospitality growth in India lies beyond convention. Evoke is not just creating places to stay, we’re building narratives, environments, and economies rooted in local culture. We are now actively looking to collaborate with like-minded owners who see the potential of experiential tourism,” said Bhavik Sheth, chief operating officer of Evoke Experiences.

Evoke Experiences is entering a transformative phase, expanding its footprint with a focus on permanent, year-round experiential resorts.

Fashion handbag brand Miraggio raises $6.5 Mn in funding

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BRL Editor
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Mohit Jain, Founder & CEO, Miraggio

Fashion handbag and accessories brand Miraggio has secured $6.5 million (approximately ₹55 crore) in a funding round spearheaded by RPSG Capital Ventures, an early-stage consumer-focused VC firm, along with Client Associates Alternate Fund.

The round also included participation from Prath Ventures.

The company plans to use the capital to expand its retail presence, strengthen brand visibility, enhance technology integration, and grow its team.

“There was a significant gap in the Indian market that we are trying to fill — offering luxury or premium-quality products with a premium brand experience at an affordable price point. A large part of this capital raise will go towards setting up offline stores. We will be launching our own brand stores,” founder and chief executive officer Mohit Jain said.

As part of its expansion strategy, the startup aims to launch 15 to 20 retail stores across the country within the next two years.

Furthermore, founded in 2019, the Delhi-based fashion handbag brand plans to introduce over 500 new products in the next 18 months. This expansion will include a diverse range of handbag and accessory categories, such as laptop bags, backpacks, mini bags, clutches, and small leather goods.

“Later, in time, we might get into other fashion accessories as well,” said Jain.

Miraggio closed FY25 with a GMV of over ₹110 crore and is now eyeing a target of ₹200 crore. Currently, Miraggio generates 25% of its sales through its own website, while online marketplaces contribute the remaining 75%. To date, the brand has successfully fulfilled over one million orders.

“Our target audience primarily consists of women aged 18 to 35 from tier I, tier II, and tier III cities. They are social media savvy, digitally influenced, self-image conscious, and fashion oriented,” Jain said.

“Today, with widespread internet access and deep digital penetration, I think desire is no longer limited to just tier I cities. There is a significant market opportunity in tier II and tier III cities as well,” he added.

Miraggio raised $1.2 million in 2023, increasing its total funding to $7.7 million to date.

Commenting on the investment, Abhishek Goenka, managing partner, RPSG Capital Ventures, said, “In a highly fragmented and dynamic market, Miraggio stands apart in its ability to offer exceptional value for money, seamlessly combining aspirational design, quality, and experience with premium affordable pricing, making it especially relevant to India’s new-age consumers.”

“We’re excited to be a part of their journey, as we believe they have the potential to reshape the handbag and accessories industry in India,” said Shivam Diwan, executive director, Client Associates Alternate Fund.

The fashion handbag brand Miraggio’s recent $6.5 million funding round not only highlights the company’s strong growth potential but also enables it to accelerate its expansion.

Leisure Hotels enters Rajasthan with new boutique jungle retreat

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BRL Editor
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Vibhas Prasad, Director, Leisure Hotels Group

Leisure Hotels Group (LHG) has made its entry into Rajasthan with the launch of an exclusive boutique jungle retreat in Ranthambore. Leveraging its experience in wilderness hospitality in Uttarakhand and a diverse portfolio of travel experiences, the group now brings its signature hospitality to the famed wildlife haven of Ranthambore.

Nestled in the heart of Rajasthan’s untamed landscape, this eco-friendly jungle retreat offers a luxurious and thoughtfully designed escape that blends comfort with exclusivity. The property features 24 elegantly crafted villas across three categories—Deluxe Cottage, Junior Suite Cottage, and Premium Suite Cottage.

Each villa boasts warm, inviting interiors with plush furnishings, rich textures, and private sit-out areas. Guests can unwind in their own plunge pools while enjoying breathtaking views of the surrounding jungle.

Perfectly located just 4 km from the main safari entry gates of Ranthambore (Zones 1–5), Singhvilas offers seamless access to both adventure and indulgence, making it an ideal retreat for wildlife enthusiasts and luxury seekers alike. Guests can savour a mix of global flavours and traditional Rajasthani cuisine at L’attitude, the all-day dining restaurant that features charming alfresco seating surrounded by lush greenery.

The culinary experience goes beyond the restaurant, with specially curated bush dinners set in picturesque outdoor locations. Enhancing the stay are immersive activities such as guided safaris and captivating cultural folk performances, offering guests a rich and authentic connection to the region’s wildlife and heritage.

Commenting on the grand opening, Vibhas Prasad, Director, Leisure Hotels Group, said, “Ranthambhore is not just a place—it’s a powerful reminder of India’s rich natural heritage. With Singhvilas, we’re bringing our deep-rooted experience in crafting immersive, nature-led stays—from destinations like Corbett and beyond—into the heart of Rajasthan. Wildlife tourism is a powerful force for conservation and community development, and at Leisure Hotels Group, we see it as both a responsibility and an opportunity.”

“We are proud to be part of Leisure Hotels Group’s continued expansion into India’s premier wildlife destinations. Singhvilas is a natural extension of our vision to create sustainable, soulful escapes that allow travellers authentic connections with nature, local communities, and the spirit of the land,” further added Lalit Shukla, Promoter.

With its debut in Ranthambore, the Group brings a perfect blend of eco-luxury, immersive experiences, and warm hospitality to one of India’s most iconic wildlife destinations. Singhvilas not only offers a serene jungle escape but also connects guests deeply with Rajasthan’s natural beauty and vibrant culture.

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