Mextech Partners with Royalti to launch Rs 1000 crore real estate brand

By

-

January 17, 2025

Industry leaders Rajesh Patel, Anil Mutha, and Hiren Chheda came together in 2022 to launch Mextech to deliver world-class real estate developments. Combining their vast experience, expertise, and dedication to excellence, Mextech consists of a team of seasoned professionals who, despite keeping a low profile, have completed over 5 million sq. ft. of high-quality projects that have redefined industry standards.

Rajesh Patel, the trio’s most seasoned yet understated member, heads RRC Ventures as a second-generation developer. Over the past 40 years, RRC Ventures has completed over 70 large-scale projects, totalling more than 50 million sq. ft., for renowned developers like the Hiranandani Group, Piramal Group, and Brookfield Properties. Widely recognized as an “Execution Genius” for his mastery in high-quality construction and on-time delivery, Rajesh Patel and RRC Ventures have played a pivotal role in iconic developments such as Hiranandani Gardens in Powai and Hiranandani Estate in Thane.

Through his company, Nandivardhan, Anil Mutha made a remarkable shift from being a jeweller to a visionary real estate developer two decades ago. His landmark project, Mansarovar—a luxury residential tower in Thane’s Panchpakadi—reflects his dedication to elegance and exclusivity. With a portfolio of over 20 premium residential projects across Thane and South Mumbai, Anil has firmly established himself as a true “Connoisseur of Luxury” in the real estate industry.

Hiren Chheda, known as the “Commercial Czar of Thane,” brings nearly 20 years of expertise in commercial real estate under his brand, Ekatva. He has been instrumental in transforming Wagle Estate into a vibrant commercial hub, delivering top-tier projects like Centrum and Opal Square, renowned for their exceptional construction quality and strong rental returns.

Mextech’s inaugural project is a 7-acre luxury development near Pokhran Road 2 in Thane. With all necessary approvals secured, construction commenced in 2023. In a strategic move reflecting their financial stability and long-term vision, the developers prioritized project execution over open market sales, showcasing their commitment to building a strong brand identity.

Mextech found the ideal sales partner in Royalti, a boutique real estate consulting firm led by Naresh Menghrajani. Renowned for its expertise in high-value residential and commercial sales, Royalti has successfully closed 2,500 deals worth Rs 3,000 crores and earned recognition as the top partner for the Hiranandani Group and Raymond Realty. Notably, Royalti recently set a record by selling 54 luxury apartments worth Rs 200 crores within three days during the launch of Oberoi Garden City, Thane.

While Royalti’s impressive track record played a key role in the decision, Naresh Menghrajani’s conviction and alignment with Mextech’s vision and values truly sealed the partnership.

On January 14, 2025, on the auspicious occasion of Makar Sankranti, Mextech and Royalti formalized their strategic partnership agreement. Over the following 60 days, Mextech plans to officially unveil its real estate brand and flagship project, ushering in an exciting new chapter for the company.

The luxury project aims to achieve sales exceeding Rs 1,000 crores within its first two years. Mextech seeks to develop projects valued at over a billion dollars within the next five years and is actively exploring land acquisitions and collaborations with landowners.

With Mextech’s bold vision and Royalti’s established expertise, the partnership will transform Thane’s luxury real estate landscape. Together, they aim to set new standards in product quality, design, execution, storytelling, and delivering an exceptional sales experience.

Kedaara Capital invests over $350 mn in data analytics firm Impetus Technologies

By

BRL Editor

-

January 16, 2025

0

Kedaara Capital has invested over $350 million in Impetus Technologies, a data, analytics, and AI solutions provider catering to clients in the US and Europe.

In a statement on Thursday, Kedaara announced that the funding would help Impetus expand its presence in the fast-growing market and foster innovation. The company plans to utilize Kedaara’s global expertise to accelerate its organic growth.

Impetus operates across various industries, including financial services, healthcare, and travel.

“Data, Analytics and AI are key drivers for innovation in the technology landscape and represent some of the fastest growing markets, advancing transformation across industries,” Kedaara’s founder and managing partner Sunish Sharma said.

Sharma stated that the investment would enable Impetus to enter its next growth phase and advance its mission of providing state-of-the-art solutions.

As data and AI-based services continue to gain traction across industries, companies like Impetus have emerged as major beneficiaries, utilizing data-driven insights to foster innovation and achieve competitive advantages. Gartner says the market will double, surpassing $500 billion in the coming years.

In addition to its expertise in data, analytics, and AI, Impetus offers enterprise software solutions designed to accelerate business transformation with up to 95% automation while maintaining operational efficiency, according to the company. It has also established strategic partnerships with leading firms such as AWS, Databricks, Google Cloud, Microsoft, and Snowflake.

Founded in 1996 by Ritu Bapna and Praveen Kankariya, the California-based company has a strong presence in industries like education and telecommunications. Impetus provides tailored services, including automated data platform modernization, cloud cost optimization, data platform development, and data catalogue enhancements, enabling businesses to leverage data responsibly for GenAI applications.

Kedaara oversees over $6 billion in investments across various sectors, including consumer goods, financial services, pharmaceuticals/healthcare, and technology/business services.

In the previous year, the firm closed its largest-ever Indian private equity fund, totalling$1.74 billion. Notable companies in its portfolio include Perfios, Purplle, Lenskart, K12 Techno Services, and GS LAB.

Associated Press partners with Google to deliver real-time data for AI

By

BRL Editor

-

January 16, 2025

0

Google has announced a new collaboration with The Associated Press (AP) to enhance its AI products powered by the Gemini AI models. The tech giant will access a real-time news feed from the US-based agency through this partnership.

Although specifics of the agreement are limited, the arrangement expects to provide Gemini with structured, timely news updates. This arrangement could improve the platform’s ability to deliver accurate and current responses, addressing the increasing need for AI systems to stay updated in rapidly evolving news environments.

According to Gadgets 360, Google’s partnership follows OpenAI’s recent agreements with major media outlets such as Condé Nast, Vox Media, and News Corp. These collaborations address the growing demand for high-quality, dependable data to train increasingly sophisticated large language models (LLMs), which require expansive datasets.

A key benefit of such partnerships is access to premium, paywalled content that cannot be obtained through standard web crawling, enabling companies like Google to train their models while avoiding copyright issues.

The report also highlighted that the structured data format from news organizations simplifies integration into AI systems, potentially accelerating technological advancements.

While the deal’s financial details remain undisclosed, Google indicated that AP’s real-time feed expects to improve the quality of Gemini’s outputs, keeping the AI platform competitive in the fast-paced market.

The collaboration underscores the growing importance of structured data in AI development, as companies aim to efficiently integrate reliable data into their systems while addressing copyright and quality concerns. By pursuing such targeted partnerships, Google seems to be strategically securing premium, high-quality content to bolster its AI initiatives.

Amazon to acquire fintech lending startup Axio

By

BRL Editor

-

January 16, 2025

0

Ecommerce giant Amazon has signed a deal to acquire Axio, a fintech lending startup previously known as Capital Float.

“In December, after successful completion of due diligence, we signed an agreement with Amazon for a proposed acquisition of Axio. The transaction will now await the required regulatory approvals,” Axio said in a blog post.

This move comes after Amazon Smbhav Venture Fund led a $20 million equity funding round in Axio in August last year.

Amazon first invested in Axio back in 2018, showing its long-term interest in the company.

The acquisition is part of Amazon’s larger plan to grow its financial services in India. Axio, based in Bengaluru, runs a non-banking finance company (NBFC), Capfloat Financial Services, and partners with banks and other NBFCs for co-lending initiatives.

Axio has supported over 10 million customers and manages assets worth ₹2,200 crore, according to the company.

In 2021, Axio raised $50 million in equity funding at a post-money valuation of $201 million. Lightrock India led the funding, with participation from both new and existing investors, as per Tracxn.

Other prominent investors in Axio include Peak XV Partners, Elevation Capital, and Ribbit Capital.

Biotech startup Zerocircle secures ₹20-Cr funding led by Rainmatter

By

BRL Editor

-

January 16, 2025

0

Biotech startup Zerocircle secures ₹20-Cr funding led by Rainmatter — Neha Jain, Founder, Zerocircle

Biotech startup Zerocircle has successfully raised ₹20 crore ($2.3 million) in its latest funding round, led by Rainmatter, the investment firm founded by Zerodha co-founder Nithin Kamath. The round also saw contributions from early-stage venture capital firms including 1Crowd, VC Grid, 7th Gen Ventures, and environmental activist Trudie Styler.

The funds will be utilized to scale Zerocircle’s manufacturing capabilities, optimize its supply chain, and expand its team. Founded in 2020 by Neha Jain, Zerocircle specializes in seaweed-based packaging designed to replace harmful petrochemical materials. Its product offerings include coated packaging for hamburger boxes, fried food containers, bakery packaging, and food trays.

The Pune-based startup aims to boost its production capacity to over 3,000 tonnes annually by 2028, across various categories such as coated paperboards, food boxes, and advanced coatings. Currently operating in Europe, Zerocircle plans to expand its reach into markets such as the GCC.

Zerocircle’s recent funding round marks a significant step in its mission to revolutionize packaging with sustainable, seaweed-based alternatives. With strong investor backing, the company is poised to expand its manufacturing capacity and enter new international markets, positioning itself as a key player in the eco-friendly packaging industry.

Oyo investors aim to divest stake at $3.9 billion valuation

By

BRL Editor

-

January 16, 2025

0

Oyo investors aim to divest stakes at $3.9 billion valuation — Ritesh Agarwal, Founder, OYO

Hospitality startup Oyo’s early investors, including Lightspeed Venture Partners, are reportedly in discussions with family offices to sell part of their stake at an estimated valuation of $3.9 billion. This valuation reflects a premium of over 60% compared to the ₹1,457 crore funding round in August 2024, during which leading family offices invested in the now profitable company.

In 2019, Lightspeed and Peak XV Partners sold most of their Oyo holdings to founder Ritesh Agarwal, collectively earning $1.4 billion. Peak XV has since sold a portion of its remaining 3% stake in Oyo, generating approximately $80–90 million returns.

Despite a decade of ups and downs, Oyo has proven to be one of the more successful exits for Peak XV and Lightspeed, which had initially invested approximately $25 million and $28 million, respectively.

Oyo acquired American lodging franchiser G6 Hospitality, parent of the Motel 6 and Studio 6 brands. It is also refinancing its $450 million term loan B facility to aid the G6 acquisition.

It reported its first-ever profit after tax (PAT) of approximately Rs 229 crore in FY24, followed by a profit of Rs 132 crore in Q1 FY25.

Mankind Pharma promoter brothers Ramesh and Rajeev Juneja invested in Oyo recently as part of an investment pooled through InCred Wealth. Founder Agarwal also participated in that round.

Oyo’s founder, Ritesh Agarwal, is strategically moving to increase his stake in the company, signalling confidence in its growth trajectory. This investment, valued at ₹550 crore, elevates Oyo’s valuation to approximately $3.8 billion and comes amidst a phase of profitability and global expansion. With strong financial performance, including its first-ever annual profit in FY24 and recent acquisitions bolstering its portfolio, Oyo appears well-positioned for continued success. This development underscores Agarwal’s long-term commitment to steering the company toward sustained growth and market leadership in the hospitality sector.

Centara introduces the newly reimagined ‘The Centara Collection’

By

BRL Editor

-

January 15, 2025

0

Centara Hotels & Resorts, Thailand’s leading hotel operator, has introduced The Centara Collection, a carefully curated portfolio of unique properties that embrace individuality, authenticity, and creativity to immerse guests in the essence of their destinations.

Previously known as the Centara Boutique Collection, this portfolio has been reimagined and elevated to a new level of distinction. With a renewed focus on “Inspiring Individuality,” The Centara Collection features a refreshed visual identity, a refined selection of member hotels, and an emphasis on the quality and uniqueness of each property.

Each property within The Centara Collection has distinctive elements and offerings, such as striking designs (whether through innovative architecture, captivating interiors, or artistic expression), immersive local experiences that showcase the culture and heritage of the destination, and curated creativity. These upscale hotels and resorts aim to enhance guests’ lifestyles while creating meaningful connections with their surroundings.

The Centara Collection provides travellers with an authentic sense of place, capturing the essence of its surroundings—whether in a vibrant urban district, a culture-rich rural retreat, or a serene natural setting.

Centara is proud to announce that the renowned Centara Grand Island Resort & Spa Maldives will now be known as Machchafushi Island Resort & Spa Maldives, marking its entry as the first international member of The Centara Collection. This award-winning resort combines warm Thai-Maldivian hospitality with world-class amenities. It features overwater and beachfront villas, providing experiential stays that connect guests with nature. Highlights include one of the Maldives‘ most exquisite house reefs, diving adventures, and aquatic activities that showcase the wonders of the Indian Ocean. Its exclusivity and unique natural beauty make it an ideal addition to this experiential brand collection.

Joining Machchafushi Island Resort & Spa Maldives are two extraordinary Thai properties. Roukh Kiri Khao Yai, nestled in the rolling hills of Northeast Thailand, overlooks the UNESCO World Heritage-listed Khao Yai National Park. This boutique retreat features 13 rustic, barn-style villas with private outdoor bathtubs or plunge pools, surrounded by breathtaking mountain views and lush organic gardens. Meanwhile, Varivana Resort KohPhangan showcases the tropical charm of Southern Thailand, blending mountains and sea in a stunning island escape. The resort offers 39 stylish rooms with spacious private balconies and a remarkable 28-meter rooftop saltwater infinity pool, creating an unforgettable retreat.

Centara aims to expand The Centara Collection by adding more unique properties in exceptional locations, both within Thailand and internationally.

“We are delighted to reveal The Centara Collection, our curated compilation of hotels and resorts that are unified by the fact that they are all completely unique. At Centara, we understand that today’s discerning travellers not only want to visit a destination – they want to experience it. By blending design, creativity and authenticity, all underpinned by our group’s warm, Thai hospitality, we aim to inspire every guest to uncover the spirit of their locale,” stated Ron Cusiter, Executive Vice President – Commercial, Centara Hotels & Resorts.

Centara offers six prominent brands spanning all market segments, from affordable lifestyle to luxury. The introduction of The Centara Collection represents the latest step in the group’s brand enhancement strategy, acknowledging the importance of continuously evolving its product offerings and signature experiences to stay relevant. This move further strengthens Centara’s position as the leading Thai hospitality group.

Kerala start-up ecosystem sees 20% rise in registrations: CII Kerala

By

BRL Editor

-

January 15, 2025

0

Kerala’s start-up ecosystem has experienced a 20% increase in registrations, now boasting over 3,500 active ventures across diverse sectors. This growth highlights the State’s rising status as a hub for innovation, according to Vinod Manjila, Chairman of CII Kerala.

Kerala has been recognized as the best performer in the fourth edition of the States’ Start-up Ranking (2022) by the Union Ministry of Commerce and Industry, retaining its top performer status from the previous three editions, noted Vinod Manjila, Chairman of CII Kerala.

He highlighted that the State’s start-up ecosystem is rapidly reshaping its industrial landscape, laying the foundation for future industries that will drive economic growth and generate significant employment opportunities, particularly for the educated youth.

As India marks nine years of the Startup India initiative on January 16, the country has grown from just 400 startups in 2016 to over 1,70,000 recognized start-ups today. This remarkable progress showcases India’s potential as a global innovation leader. Manjila added that the Start-up India program aligns closely with the vision of Viksit Bharat @ 2047, the Prime Minister’s goal to transform India into a developed nation by 2047.

The growth of startups has significantly accelerated digital transformation across industries. With the increasing adoption of digital tools and platforms, Kerala-based start-ups are driving the development of future industries by fostering technological innovation, promoting sustainability, and diversifying the economy. Focused on key sectors such as health tech, agri-tech, fintech, edtech, and renewable energy, these start-ups are revolutionizing traditional industries, advancing green technologies, and enhancing accessibility through innovative digital solutions.

The CII Chairman highlighted that the government’s forward-thinking policies, which simplify regulations and provide additional resources, are driving the expansion of Kerala’s startup ecosystem toward even more significant growth.

He added that CII Kerala has played a pivotal role in nurturing entrepreneurship and innovation, mainly through its startup panel and various sector-specific initiatives.

Hissa launches $35 mn ESOP focused fund

By

BRL Editor

-

January 15, 2025

0

Hissa has unveiled Hissa Fund I, a $35 million investment vehicle to tackle liquidity challenges in India’s ESOP market. The fund helps employees of growth-stage startups convert their vested stock options into cash, providing an alternative to the long wait for exits through IPOs or acquisitions.

Launched by Bengaluru-based Rulezero, Hissa is an equity management platform founded in 2019 by Satish Mugulavalli and Srinivas Katta. The platform streamlines ownership data management, automates share issuance and ESOP processes, tracks and certifies cap tables, and manages transactions.

According to Mugulavalli, founder of Rulezero and managing partner of Hissa, Indian startups often remain private for 10-12 years, leaving employees with valuable but illiquid stock options. Hissa Fund I, a SEBI-registered Category II Alternative Investment Fund (AIF), provides a secondary transaction platform with T+5 settlement cycles, enabling employees to access liquidity for personal needs.

“The idea is simple: if an employee earns INR 100 in salary and INR 50 in options, we allow them to liquidate a small portion of those options periodically. This builds trust in the value of their equity without making them feel the need to leave prematurely,” Mugulavalli said.

The fund will target 15-20 high-potential startups, collaborating with founders to synchronize liquidity events with business expansion and talent retention strategies. This approach enables companies to use ESOPs to attract and retain top talent.

“We target growth-stage companies—typically Series B or later—and purchase employee shares,” Mugulavalli said. According to him, this provides liquidity while allowing companies to retain talent without incurring high compensation costs.

The fund’s first transaction involved Miko, an AI robotics company that offered liquidity to 32 employees.

Mugulavalli also mentioned that approximately 28-30% of the fund has already been raised, mainly from domestic founders and high-net-worth individuals (HNIs). He anticipates the fund will be fully closed by the end of 2025.

Tata Capital raises $400 mn via maiden dollar-denominated bond issue

By

BRL Editor

-

January 15, 2025

0

Tata Capital raises $400 mn via maiden dollar-denominated bond issue — Rajiv Sabharwal, managing director and chief executive officer, Tata Capital

India’s Tata Capital has successfully raised $400 million through its first-ever US dollar-denominated bond issuance, with a maturity of three and a half years, the company announced in a statement on Tuesday.

The non-banking financial company (NBFC) will offer a coupon rate of 5.389% for this inaugural dollar bond.

Strong investor interest allowed the transaction to launch with an initial price guidance of a US Treasury yield plus 125 basis points. However, robust demand led to final pricing at a spread of 192 basis points over the Treasury yield.

This move marks the tightest spread over US Treasuries ever secured for a 3 to 3.5-year USD-denominated public fixed-rate bond issuance by a BBB-rated issuer from South or Southeast Asia.

The company added that the bond issue attracted a diverse range of global investors from Asia, Europe, the Middle East, and Africa (EMEA), including asset managers, insurers, banks, and other institutions.

Commenting on the bond issuance, Rajiv Sabharwal, managing director and chief executive officer at Tata Capital, said, “We would like to thank global fixed-income investors for the overwhelming support we received for our debut USD bond issuance. The success of the transaction illustrates investors’ confidence in Tata Capital’s strong credit profile, backed by its focus on a diversified and granular loan book. The transaction will further strengthen our liability profile and diversify our funding sources.”

“The transaction will further strengthen our liability profile and diversify our funding sources.” Last February, Reuters reported that Tata Capital was exploring overseas fundraising for the first time in the financial year 2024-2025.

BNP Paribas, HSBC, Standard Chartered Bank, and MUFG served as joint global coordinators and bookrunners for the transaction, with JP Morgan acting as a joint bookrunner.

CONNECT WITH US