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Lemon Tree Hotels expands presence in Maharashtra with 13th property

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Lemon Tree Hotels Limited has announced the launch of its newest property, Lemon Tree Hotel, Mira Road, Mumbai. This marks the group’s 13th hotel in Maharashtra and further strengthens its presence in the state.

The newly opened hotel boasts 108 stylish and comfortable rooms, along with a range of amenities including Citrus Café, a multi-cuisine restaurant, a fitness center, spa, and a swimming pool. Designed to cater to both business and leisure travelers, the property also offers modern meeting and conference facilities to suit various guest needs.

Mumbai, widely known as the “City of Dreams” is a magnet for talent from around the world, offering vast opportunities in entertainment, business, and culture. Its strong infrastructure, skilled talent pool, and prime west coast location position it as a hub for corporate expansion and global trade. Beyond its economic advantages, Mumbai’s vibrant culture, diverse population, and top-tier amenities make it a highly appealing destination for professionals seeking both career growth and quality of life.

The launch of Lemon Tree Hotel, Mira Road, Mumbai, marks a significant milestone in Lemon Tree Hotels Limited’s expansion strategy, reinforcing its growing presence in Maharashtra with its 13th property in the state. This addition not only enhances the group’s footprint in one of India’s most dynamic regions but also reflects the brand’s commitment to offering quality hospitality experiences in key urban markets.

Situated in Mumbai, a city synonymous with opportunity, growth, and global connectivity, the new hotel is poised to cater to both business and leisure travelers. With its modern amenities, including well-appointed rooms, a multi-cuisine restaurant, wellness facilities, and conferencing spaces, the property aligns with Lemon Tree’s vision of delivering comfort, convenience, and value.

As Mumbai continues to attract a diverse and upwardly mobile population, this new opening positions Lemon Tree Hotels to meet the evolving demands of travelers while contributing to the city’s vibrant hospitality landscape. The launch symbolizes not just the expansion of a hotel chain, but a continued investment in India’s urban potential and tourism growth.

Hearzap Rolls Out ₹8 Cr ESOP to Boost Employee Ownership, Eyes 2X Growth by FY28

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29th April, 2025: Hearzap, a provider of complete hearing care solutions in India, has announced its Employee Stock Ownership Plan (ESOP), representing a significant step in Hearzap’s journey of collective growth and success. With this program, eligible employees will have the opportunity to become shareholders of the company and share in Hearzap’s long-term vision of making hearing care accessible and affordable throughout India.

The company recently approved the ESOP program, through which stock options worth approximately ₹8 crore will be granted to eligible employees. With an overall revenue growth of 20% in FY 24-25, this initiative offers team members a chance to build personal wealth and grow alongside the company, reinforcing a sense of ownership and belonging.

Mr. Raja S., Managing Director, Hearzap, commented on the scheme:
“By implementing our ESOP, we aim to demonstrate our commitment to value and appreciate the adaptability and loyalty of our team. It is more than a financial incentive — it is a new era of empowerment, acknowledging that what we achieve is a shared accomplishment. We intend to build a culture of ownership and shared prosperity. Hearzap is more than a workplace — it is a place to be an individual and grow personally and financially.”

Hearzap has grown to more than 150 hearing experience stores in India and served over 1.2 million clients. The company plans to expand to 250 stores by FY26, and 500 stores thereafter, targeting 2X growth in the next three years.

Hearzap’s ESOP scheme reflects its vision of creating a future where every employee’s success is integral to the company’s story. By aligning employee interests with company growth, Hearzap aims to enhance employee retention and motivation, driving its mission to revolutionize hearing healthcare in India.

About Hearzap

Hearzap is India’s leading provider of 360-degree hearing care solutions, dedicated to addressing challenges in hearing health awareness, accessibility, and affordability. Leveraging cutting-edge technology and innovative hearing solutions, Hearzap continues to redefine the hearing industry with its immersive hearing experience stores and digital suite for remote diagnosis and virtual shopping. The brand remains committed to breaking the stigma around hearing loss and ensuring seamless continuity of hearing care services across India.

D2C food startup Anveshan raises ₹48-Cr in Series A round led by Wipro Consumer Care Ventures

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L-R: Aayushi Khandelwal, Akhil Kansal, Kuldeep Parewa, Co-founders, Anveshan

Anveshan, a farm-to-consumer food brand, has secured ₹48 crore in a Series A funding round led by Wipro Consumer Care Ventures, with additional backing from existing investors such as DSG Consumer Partners, Titan Capital, Winners Fund, and Force Ventures.

The round also included participation from angel investors like Aman Gupta and Sameer Mehta of BoAt Lifestyle. This funding mix of primary and secondary capital enabled partial exits for some early backers and allowed ESOP buybacks for employees.

Anveshan plans to use the fresh capital to scale its partner manufacturing ecosystem, improve supply chain infrastructure, enhance its tech-based traceability platform, and amplify its branding and marketing initiatives.

Launched in 2020 by IIT Guwahati alumni Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan offers minimally processed food products made in rural communities.

According to the company, it has reached a net revenue run rate of ₹100 crore in FY25, growing at an annual rate of 80%.

“We didn’t just want to build a food brand; we wanted to rebuild trust by making food that’s clean, traceable, and rooted in the wisdom of our Indian traditions. Today’s conscious consumers don’t just want taste; they want truth on their plate,” said the founders at Anveshan.

The company aims to grow into a ₹500 crore brand in the coming years and is working towards achieving EBITDA profitability. According to the statement, Anveshan’s focus on direct sourcing and efficient supply chain integration is helping drive robust gross margins.

“We are excited to triple down on Anveshan. The brand is at the forefront of the minimally processed revolution in oils and ghee, perfectly aligned with our belief in healthy living as a core consumer theme. The brand has scaled over 10x since our first investment, with top-decile capital efficiency, sharp category focus, and a disciplined SKU strategy, emerging as a leader across digital channels. With large incumbents now entering the space, the category is set to explode—and we believe Anveshan is best positioned to lead this next phase of growth,” said Hariharan Premkumar, Managing Director, DSG Consumer Partners.

Sumit Keshan, Managing Partner, WIPRO Consumer Care–Ventures, shared, “We are excited to invest and partner with Anveshan in their journey to provide high-quality preservative-free products to consumers. Their focus on quality, traditional process adoption, and customer centricity is helping in creating brand Anveshan. This marks our 14th investment from our fund and third in the food sector.”

Netradyne hits unicorn status in 2025, plans to turn profitable by year-end

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Durgadutt Nedungadi, Senior executive, Netradyne

SoftBank-backed Netradyne, a provider of fleet safety and video telematics solutions, anticipates reaching profitability by late 2025 or early 2026. The AI and machine learning-driven unicorn is experiencing 50% year-on-year growth and has set its sights on international expansion over the next two years, according to senior executive Durgadutt Nedungadi.

Headquartered in San Diego and Bengaluru, Netradyne is currently valued at $1.3 billion. The company plans to increase its global presence from 10 to 15 countries by the end of 2026. As part of this strategy, it will enter the Japanese and Spanish markets in 2025, followed by Ireland, France, and Italy in 2026.

Netradyne’s flagship offering is an AI-driven, vision-based IoT system designed for commercial vehicles. The device, mounted inside the vehicle, uses cameras to capture video and sensory data from both the interior and exterior in near real-time. It detects driving behaviors and events to enhance road safety. The platform helps reduce accidents, shields drivers from false claims during incidents, cuts insurance costs, and streamlines compliance management.

Netradyne currently serves over 3,000 clients across the globe, including major players from industries such as e-commerce, food and beverage, oil and gas, transportation, utilities, field services, passenger transit, and construction. Its client portfolio features global giants like Amazon, Shell, and Pepsi, along with leading Indian companies such as Reliance Industries and Hindustan Unilever.

Through this, the company has millions of miles worth of data, which it uses to train its algorithms and make them more efficient as a driver’s assistant. “We anonymise number plates (and pedestrian faces) seen through the external camera. From a privacy perspective, there is no intermingling of data, nor do we provide a customer’s data to a third party,” Nedungadi said.

Netradyne achieved unicorn status following a $90 million equity funding round led by Point72 Private Investments, with participation from Qualcomm Ventures and Pavilion Capital.

According to Tracxn, this latest round brings the company’s total funding to $308 million. Its existing investors include SoftBank Vision Fund, Silicon Valley Bank, Reliance Industries, and several others.

The growing adoption of autonomous driving technology in the U.S.—one of Netradyne’s major markets—has raised some concerns. However, Durgadutt Nedungadi asserted that this trend poses no threat to the company. On the contrary, he stated that Netradyne’s technology is already several steps ahead of current developments.

“The fundamental difference between autonomous driving tech and us is philosophy. Instead of imparting control to the vehicle, we give proactive control to the driver. We recognise and track far more elements than an ADAS (advanced driver-assistance system) does. We have the ability to detect anything a human eye can see through our cameras,” he said.

IKEA strengthens local presence with Plan & Order Point in east Bengaluru

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Susanne Pulverer, CEO & CSO, IKEA India

Swedish furniture giant IKEA has launched its first-ever Plan & Order Point (PaOP) in India, situated in East Bengaluru.

IKEA houses the new setup within its experience centre, covering 740 square metres. It offers personalized consultations, planning assistance, and installation services. With this new format, IKEA directly connects with customers, providing them access to tailored home furnishing solutions.

Customers choose from a range of service options—they may prefer a DIY approach, opt for guided planning support, or select a complete end-to-end design and installation experience. IKEA provides full access to its comprehensive home furnishing collection with all these services.

This initiative marks a key step in IKEA’s ongoing strategy to expand its presence across India.

Susanne Pulverer, chief executive officer and chief sustainability officer at Ikea India, said, “We are beyond excited to launch this new Ikea meeting point format in India. Bengaluru has been a strong growth market for us as the second biggest home furnishings market in India. With the new Plan & Order Point, we are strengthening our local presence and deepening our understanding of how people live at home. This is a strategic step in our continued investment towards scalable, omnichannel expansion in the region.”

Customers schedule a free appointment to begin the process. IKEA specialists then help them plan everything from individual rooms to entire homes—covering layouts, product selections, and more. Once they finalize the design, customers place orders directly at the site and choose from flexible fulfillment options such as home delivery, click-and-collect, or pick-up through local partners.

Customers have the choice to assemble the furniture themselves or use IKEA’s professional assembly service. Additionally, a curated selection of items will be available for immediate purchase.

“East Bengaluru is witnessing a surge in residential and commercial development, attracting a diverse population that is seeking well-designed, functional, and stylish homes. With deep insights into living situations gained through extensive home visits across the region, Ikea has studied how residents in the city live, their needs, and aspirations, and has designed the PaOP to meet these local needs,” the company said.

Orders placed through the Plan & Order Point will be processed and fulfilled through IKEA’s Nagasandra store in Bengaluru.

Back in 2013, the Indian government approved IKEA’s foreign direct investment (FDI) proposal of ₹10,500 crore, aimed at setting up 10 stores along with related infrastructure over a span of 10 years.

Separately, Ingka Centres — a division of the Ingka Group that manages IKEA retail operations — is investing €1 billion to establish two centres in Gurgaon and Noida under its new Lykli brand.

The launch of IKEA’s first Plan & Order Point in East Bengaluru marks a significant step in the brand’s India journey, aligning with its broader expansion strategy and commitment to making home furnishing more accessible and personalized.

With flexible service options, expert guidance, and integrated fulfillment through the Nagasandra store, IKEA continues to strengthen its local footprint while adapting to the evolving needs of Indian consumers.

The company’s ongoing investments, including the upcoming Lykli centres, underscore its long-term vision for growth and innovation in the Indian market.

IHCL expands in Bengaluru with new Ginger Hotel signing

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Suma Venkatesh, Executive vice president, Real Estate & Development, IHCL

Indian Hotels Company (IHCL), a premier name in India’s hospitality sector, has announced the signing of a new Ginger hotel in Bommasandra, Bengaluru. The upcoming property will be developed as a greenfield project.

Suma Venkatesh, executive vice president, Real Estate & Development, IHCL, said, “With new infrastructure projects and enhanced connectivity, Bengaluru is one of the key cities in the country. This signing in the industrial area of Bommasandra in Bengaluru aligns strategically located in the heart of the Jigani Industrial Area, the 125-key Ginger Bommasandra, Bengaluru offers seamless access to commercial and industrial hubs. with our strategy to strengthen our presence in such emerging micro-markets. We are delighted to partner with Laxminarayan Sherugar for this project.”

Strategically positioned in the heart of the Jigani Industrial Area, the 125-room Ginger Bommasandra in Bengaluru will offer convenient access to key commercial and industrial zones.

Reflecting Ginger’s signature lean luxe design philosophy, the hotel will feature modern, vibrant spaces that seamlessly blend work and relaxation. In addition, guests will benefit from a range of amenities, including Qmin—the brand’s all-day dining restaurant—as well as a bar, well-equipped meeting rooms, and a fitness centre to ensure a comfortable and productive stay.

Laxminarayan Sherugar, founder and managing director, Mallik Group of Companies, said, “We are excited to collaborate with IHCL, to cater to the needs of the modern traveller.”

Bengaluru, widely recognized as the Silicon Valley of India, is a dynamic center for IT, biotechnology, aerospace, and a growing startup ecosystem.

With the addition of the Ginger Hotel Bommasandra, IHCL’s footprint in Karnataka will grow to 26 hotels, of which 13 are currently under development.

Laxminarayan Sherugar, a qualified mechanical engineer, is the founder and Managing Director of the Mallik Group of Companies. The group comprises Mallik Engineering (India) Pvt. Ltd., Mallik Multitechnologies Pvt. Ltd., and Sulax Technologies Pvt. Ltd. Collectively, these companies operate as trusted suppliers to OEMs. Moreover, they cater to a diverse range of sectors, including elevators, escalators, railways, and healthcare, thereby showcasing the group’s versatility and industry relevance.

Voice-first AI tutor startup Stimuler secures $3.75 Mn in funding

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L-R: Akshat Baranwal, Ankit Kumar Pandey, Akshay Akash and Anesh Srivastav, Co-founders, Stimuler

Stimuler, a voice-first AI tutor designed for English-as-a-second-language (ESL) learners, has secured $3.75 million in funding from global venture capital firms Lightspeed and SWC Global. The round also included contributions from MVP, Rebright, Force Ventures, and GradCapital.

The AI tutor Startup plans to use the capital to expand its proprietary AI infrastructure, strengthen its tech team, and boost efforts to acquire new users.

“It’s one of those markets that is fundamentally changing with the development of AI. Over a billion people around the world are learning English in some form. So, we believe the market is truly massive for us,” chief executive Akshay Akash said.

Founded in 2022, the Bengaluru-based startup provides a platform that enables users to practice English while receiving instant feedback on key language aspects such as fluency, pronunciation, vocabulary, and grammar. The platform also includes targeted exercises to help users enhance their language skills.

Stimuler has already achieved over four million app installs and boasts more than 45,000 paying users. According to co-founder Akash, the app currently sees between 500,000 and 600,000 monthly active users.

“India is our third-largest market. First is Latin America — including countries like Colombia, Mexico, Peru, and Costa Rica — followed by Southeast Asia, particularly Indonesia, and then India. We are also experimenting in other regions,” said Akash, noting that Latin America accounts for 40% of the company’s revenue.

The platform is aiming to grow its monetisation by over five times within the next 12 to 18 months, signaling aggressive expansion and revenue growth plans.

“We saw around 25x revenue growth last year and expect another 8 to 10x this year. But those are secondary targets. Our primary focus, given how early we are, is to build the core team, establish AI capabilities, and set up distribution channels so we’re prepared to scale further from there,” Akash added.

Commenting on the investment, Harsha Kumar, partner, Lightspeed, said, “Stimuler is solving a universal need – making spoken English proficiency more accessible with sharp execution and deep product insight. As voice AI transforms learning, I believe Stimuler has built a platform to lead the category for the next billion users.”

“Consumer AI is an interesting category globally for us, and the team at Stimuler has built a global-ready product which is seeing a strong user engagement,” said Tuck Lye Koh, founding partner at SWC Global.

Stimuler is rapidly emerging as a key player in the voice-first AI tutoring space for ESL learners. With strong backing from prominent investors, a growing user base, and ambitious plans to scale its technology and monetisation, the Bengaluru-based startup is well-positioned to make a significant impact in the edtech landscape over the coming months.

Urban Company founders sell ₹780-Cr in secondary deals in pre-IPO phase

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L-R: Varun Khaitan, Raghav Chandra, Abhiraj Singh Bhal, Co-founders, Urban Company

Urban Company co-founders — Abhiraj Singh Bhal, Raghav Chandra, and Varun Khaitan — have sold shares worth nearly ₹780 crore through secondary transactions ahead of the company’s draft red herring prospectus (DRHP) filing for its upcoming IPO. Each founder divested shares valued at around ₹260 crore between September 2024 and February 2025, according to the DRHP.

A portion of the post-tax proceeds was reportedly used to settle outstanding payments for shares allotted to them during a 2019 rights issue, which were only partially paid at the time and required full payment prior to going public. Notably, the founders will not be participating in the IPO’s offer-for-sale (OFS) component.

Buyers of these shares include institutional investors like Prosus Ventures, Dharana Capital, Think Investments, as well as individuals such as former ITC executive Sanjiv Rangrass and SailThru Ventures. Swiggy founder and group CEO Sriharsha Majety also purchased shares worth ₹88 lakh. Swiggy recently launched Pyng, a new platform focused on white-collar services like legal, accounting, nutrition, and therapy.

Following these deals, the three founders now hold a combined 20% stake in Urban Company. On Monday, the company officially filed for a ₹1,900 crore IPO, comprising a ₹429 crore primary issue and a ₹1,471 crore OFS from early investors like Accel, Tiger Global, and Elevation Capital.

In a related transaction last year, Dharana Capital had acquired nearly ₹400 crore worth of shares from early employees and investors, including Snapdeal founders Kunal Bahl and Rohit Bansal, who reportedly exited with a 200x return on their early investment.

Urban Company posted a net profit of ₹242 crore in the first nine months of FY25, a significant turnaround from a ₹58 crore loss in the same period the previous year. While the company received a ₹215 crore deferred tax credit, it also reported profitability on a pre-tax basis. Operating revenue for April to December 2024 rose 41% year-over-year to ₹846 crore.

The platform recorded 6.51 million annual transacting customers and an average of 48,169 monthly active service professionals during the same period. Its Native product segment, which includes water purifiers and smart locks, generated ₹102 crore in net transaction value and ₹76 crore in revenue.

Kamat Hotels launches The Orchid Passaros in Goa

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Vishal Kamat, Director of Kamat Hotels India Ltd.

Kamat Hotels India has introduced The Orchid Passaros – Goa, a boutique luxury retreat designed to redefine tropical escapes with a focus on refined comfort and relaxation.

Located just minutes from the serene Benaulim beach in South Goa, the all-suite, eco-friendly property offers guests a stay centered on meaningful connections and effortless indulgence, according to the company’s announcement.

Vishal Kamat, director of Kamat Hotels India Ltd., said, “In a world that moves too fast, we wanted to create a space that gently invites you to slow down, not just in pace but in spirit. The Orchid Passaros is not about escaping life, it is about returning to it with greater presence and clarity. Every corner speaks the language of calm, and every detail is thoughtfully placed to remind you that true luxury lies in being fully present. At Passaros, nature, art and luxury come together in quiet harmony to offer something truly rare, not just a stay but a soulful pause.”

The Orchid Passaros – Goa features 58 thoughtfully designed rooms that embody a calm, sophisticated ambiance. Each suite serves as a tribute to Goa’s natural beauty, combining handcrafted décor, rainforest-inspired tones, and modern finishes. Warm wood accents, curated murals, and rich textures give the interiors a unique, understated luxury. Select suites open into private gardens with cozy lounge pods, while others boast rooftop sanctuaries with stargazing ceilings. From terrace jacuzzis to serene reading nooks, every space is crafted to encourage relaxation and a deeper sense of presence.

The dining experience at The Orchid Passaros – Goa is just as thoughtfully curated as its accommodations. The resort’s signature restaurant and bar, Tipsy Sparrow, stays open late into the night, offering an inviting setting for leisurely meals, heartfelt conversations, and relaxed late-night drinks. It serves as a vibrant yet cozy space where guests can unwind and savor the moment at their own pace.

Beyond its elegantly designed suites, The Orchid Passaros – Goa offers a range of immersive experiences tailored for couples. Splash, the resort’s pool and bar, provides a laid-back setting for refreshing swims and handcrafted cocktails. For deeper relaxation, the Feather Touch Couple Spa offers calming therapies in a serene atmosphere. Meanwhile, the Pebble Walk winds through peaceful, landscaped paths—perfect for quiet strolls and spontaneous, meaningful conversations amidst nature.

Petjio World eyes $1.5M seed round to expand pet care platform

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Pet care startup Petjio World is currently pursuing its first institutional funding round, aiming to raise $1.5 million. Company executives revealed that discussions are underway with venture capital firms like Capria Ventures, along with several family offices based in India, the UAE, and the US.

Founder Pratik Sen said the digital-first pet care platform is “a curated marketplace that combines services providers across boarding, grooming, training, vet consultations and adoption”.

Petjio World is strategically focusing on India’s tier-2 markets, where demand for quality pet care is on the rise, yet supply remains fragmented and inadequate. The startup aims to bridge this gap with its platform-driven approach. Petjio was co-founded by Satyajit Sen, former CEO of Zenith Optimedia, along with Dipankar Dey and Suvendu Das, who bring diverse expertise to support the company’s mission of redefining pet wellness and care in underserved regions.

“Our fundraising will support platform development, on-ground operations, marketing, and building a quality-first service network across cities,” Sen added.

India’s pet care market is currently valued at $3.5 billion and is projected to double to $7 billion by 2028, according to a report by Redseer Strategy Consultants. The surge is driven by rising pet ownership and a growing preference for premium, health-focused pet care products and services. The number of pets in Indian households has climbed significantly—from 26 million in 2019 to 32 million in 2024.

Key players in this fast-expanding sector include established brands and emerging platforms such as Pedigree, Purina, Supertails, Royal Canin, Petjio, Heads Up For Tails, and Drools.

“A significant trend driving the market is premiumisation… this is set to be a key driver of future market growth. While the majority of pet care spending in India remains through offline channels—such as veterinary clinics, retail pet stores and grooming centers—there is a growing trend towards digital channels for petcare,” the report added.

The report highlights that subscription-based services—offering regular delivery of pet food, grooming supplies, and healthcare products—are gaining strong traction, especially among urban consumers who prioritize convenience. This trend reflects a broader shift toward personalized and hassle-free pet care solutions, aligning with the evolving lifestyles of modern pet owners.

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