The Claridges New Delhi relaunches Sevilla restaurant

December 21, 2024

The Claridges New Delhi has announced the grand reopening of Sevilla restaurant, the city’s iconic Spanish and Mediterranean dining spot. Following a thorough makeover, Sevilla reopens with a fresh, captivating look, offering an exceptional culinary experience that engages both the taste buds and the senses.

Renowned for its charming alfresco atmosphere, Sevilla has been reimagined as a Mediterranean haven, featuring several new enhancements. According to a statement from the hotel, the expansive restaurant, located a little distance from the main hotel building, provides intimate indoor and outdoor seating options.

Chef Alex Rodriguez, the master chef at Sevilla, The Claridges New Delhi, is the creative force behind the restaurant’s revamped menu. With over 20 years of international culinary experience, Chef Rodriguez is a graduate of the esteemed Culinary Institute of America. He has honed his skills at renowned establishments like the Waldorf Astoria, Four Seasons, and St. Regis in New York. According to the release, his culinary journey across Spain, the Caribbean, and Europe has influenced his unique style, which combines traditional Mediterranean flavors with contemporary cooking techniques.

“As the master chef of Sevilla, I bring decades of culinary expertise from Spain to New Delhi. Our reimagined menu celebrates the rich Spanish and Mediterranean heritage, combining authentic flavors with contemporary culinary techniques. Inspired by my family’s culinary legacy and the vibrant aromas of roasted peppers, saffron, olive oil, and fresh fish from my grandmother’s kitchen, every dish at Sevilla tells the story of Spain.

From the iconic Paella of Valencia to other signature offerings, I am committed to delivering an extraordinary dining experience that connects our guests to the heart of Spanish cuisine,” said Rodriguez.

“We are elated to welcome chef Alex Rodriguez to The Claridges family and Sevilla. His unparalleled expertise and passion for Spanish and Mediterranean cuisine perfectly align with our vision of offering authentic and unforgettable dining experiences. Chef Alex’s innovative approach and commitment to culinary excellence will undoubtedly set a new benchmark for Spanish and Mediterranean dining in Delhi,” said Hemendra Singh, general manager of The Claridges New Delhi.

Info Edge arm plans to increase stake in Brainsight

BRL Editor

December 21, 2024

Info Edge arm plans to increase stake in Brainsight — Sanjeev Bikhchandani, founder and executive vice-chairman, Info Edge

Redstart Labs, a subsidiary of online classifieds giant Info Edge, is set to purchase an additional stake in Bengaluru-based healthcare startup Brainsight Technology for a cash investment of INR 3 Cr (approximately $353K). This move will increase its shareholding from 4.68% to 5.27%.

In a regulatory filing, the Sanjeev Bikhchandani-led company announced that Redstart has secured board approval to acquire 385 compulsorily convertible preference shares of Brainsight. Established in 2019 by Laina Emmanuel and Rimjhim Agrawal, Brainsight specializes in AI-driven solutions for functional brain mapping, with its current offerings including two products, Voxelbox and Snowdrop.

Voxelbox provides clinicians with an fMRI processing engine and machine learning models for report generation, while Snowdrop is a patient care application.

According to the filing, Brainsight reported a loss of INR 4.76 Cr during the 2023-24 financial year (FY24), currently valued at INR 3.74 Cr.

Info Edge has been actively investing in recent times. Last month, the internet company announced plans to invest INR 4 Cr in its portfolio company, LegitQuest, through its wholly-owned subsidiary, Startup Investments (Holdings) Ltd. Earlier, in October, the company disclosed that its executive directors’ committee approved an investment of INR 30 Cr in Redstart Labs. Info Edge’s portfolio includes prominent listed companies like foodtech leader Zomato, insurtech firm PB Fintech, and unlisted edtech company Adda247.

In its financial results for Q2 FY25, Info Edge reported a significant 64.6% drop in net profit, which fell to INR 84.73 Cr from INR 239.74 Cr in the same quarter of the previous year. Despite the decline in profit, the company saw a nearly 12% rise in operating revenue, reaching INR 700.82 Cr, compared to INR 625.84 Cr in Q2 FY24.

While Info Edge faces a dip in profitability, it continues to pursue strategic investments, signaling confidence in its long-term growth prospects despite short-term challenges.

Minimalist Hotels to launch new property in Varanasi by March 2025

BRL Editor

December 21, 2024

Minimalist Hotels to launch new property in Varanasi by March 2025 — Gautam Munjal, Founder of Minimalist Hotels

Minimalist Hotels, a fast-growing name in the lifestyle hospitality sector, is preparing to broaden its presence by launching its second property in Varanasi, Uttar Pradesh. Slated to open in March 2025, Minimalist Hotel, Varanasi, promises a premium hospitality experience for domestic and international guests. Situated just 2 km from its current property in DIG Colony, the new hotel will feature 25 meticulously designed rooms, addressing the rising demand for quality accommodations in the city.

This strategic move responds to Varanasi’s increasing appeal as a travel hotspot fueled by its rich cultural heritage and the rising demand for unique, high-quality accommodations. The need for premium hotels has soared with the city gearing up for the Kumbh Mela, a significant pilgrimage event. Minimalist Hotels is well-positioned to cater to this growing influx of visitors.

Gautam Munjal, Founder of Minimalist Hotels, expressed, “We recognized the pressing need for more rooms in Varanasi, especially with the growing number of visitors being attracted to experience the rich culture of the city. Our new property not only addresses the upsurge in demand but also solidifies our position as an upcoming hospitality brand in the region.”

The new property will showcase contemporary architecture, minimalist interiors, and an on-site casual dining restaurant featuring a pizzeria. The restaurant will offer curated dishes in a laid-back atmosphere. Located close to Varanasi’s iconic landmarks, the hotel aims to provide personalized guest experiences, seamlessly combining subtle luxury with functionality.

Minimalist Hotel, Varanasi aims to redefine luxury in the city by blending comfort with style, further solidifying the brand’s foothold in the rapidly expanding hospitality market.

Mayapada Hospitality launches Indonesia’s first voco Hotel

BRL Editor

December 20, 2024

Mayapada Hospitality Holding is thrilled to announce the opening of voco Bali Seminyak, marking the debut of IHG Hotels & Resorts’ voco premium brand in Indonesia.

Gordon Coutts, Owner Representative of Mayapada Hospitality Holding, highlighted that this addition brings the Group’s portfolio in Indonesia to nine hotels, four of which are located in Bali and managed by IHG. He expressed enthusiasm about introducing this exciting brand, anticipating its positive impact on the Bali hotel industry. Coutts also emphasized how voco’s unique character and style align with its Latin-inspired vision, meaning “to invite” and “to call together.”

Mauro Leone, Cluster General Manager of voco Bali Seminyak, commented, “Our team is dedicated to providing exceptional service and creating a welcoming and dynamic space that embodies the voco hotels brand – combining charm, comfort, and a premium stay experience with the reliability of a global brand. We look forward to welcoming our first guests and offering them a taste of voco life here in Seminyak.”

Established in 2018, voco Hotels blends the reliability of a renowned brand with the charm and warmth of a boutique hotel experience.

Guided by its three core principles – ‘Come on in,’ ‘Me time,’ and ‘Voco Life’ – the brand greets every guest with a distinctive welcome treat that reflects the local culture. Guests can enjoy a seamless mix of relaxation, exploration, and genuine Balinese hospitality.

Situated in the heart of Bali’s bustling Seminyak, voco Bali Seminyak is conveniently located just 20 minutes from I Gusti Ngurah Rai International Airport. The newly opened hotel boasts 162 elegantly designed rooms and suites, offering spacious accommodations with luxurious bedding and premium amenities to enhance the guest experience.

Facilities include an all-day dining restaurant with a 120-seat capacity, a cozy Lobby Lounge, and a rooftop bar with breathtaking sunset views. Guests can also enjoy a fitness center and an outdoor swimming pool for a more fulfilling stay.

In line with voco Hotels’ “step by step” sustainability philosophy, voco Bali Seminyak is dedicated to innovation and eco-friendly practices. The hotel reflects this commitment through features like pillows and duvets filled with 100% recycled materials, bulk plant-based amenities, and other thoughtful initiatives that show how small actions can lead to significant positive impacts.

voco™ hotels offer the reliability of a well-known brand combined with the warmth and character of an independent hotel, delivering a consistently premium experience for guests. The name “voco,” derived from Latin, means “to invite” and “call together,” reflecting the brand’s inviting, relaxed, and charming personality. voco Hotels thoughtfully designs each space to create memorable experiences with high-quality features, from luxurious amenities to spacious beds. Guests are always welcome and enjoy a seamless check-in process, a cozy, relaxed room, and lively bar and restaurant areas that foster connection and socializing.

Singapore’s bolttech secures $100M funding, achieves $2.1B valuation

BRL Editor

December 20, 2024

Singapore's bolttech secures $100M funding, achieves $2.1B valuation — Rob Schimek, Group Chief Executive Officer, bolttech

Singapore-based insurtech company bolttech has secured over $100 million in its latest funding round. The lead investors are Dragon Fund from Mitsubishi UFJ Financial Group and fintech direct lender Liquidity Group.

bolttech stated that the Series C funding round, which valued the company at $2.1 billion, will support its continued global growth strategy.

This valuation is 31.3% higher than the $1.6 billion reported in its Series B funding round in May 2023.

Founded by Rob Schimek in 2020, bolttech runs a digital platform that enables insurers, distributors, and customers to buy and sell insurance and protection products across over 35 markets in North America, Asia, Europe, and Africa, as stated on its website.

The statement also mentioned that other investors in the latest funding round include UK-based investment management firm Baillie Gifford and Lion River, the private equity arm of insurer Generali.

According to a November report by UK reinsurance broker Gallagher Re, global insurance tech investment reached $1.38 billion in the third quarter of this year, the highest since the first quarter of 2023, driven by the surge in artificial intelligence.

Last month, bolttech finalized a $50 million venture debt facility with HSBC.

In September 2023, the company raised an additional $50 million from impact investment firm LeapFrog, extending its Series B funding round to $246 million.

bolttech’s successful fundraising efforts, including its latest Series C round and previous ventures, highlight its strong growth trajectory in the insurance tech sector. With strategic investments from major players like Mitsubishi UFJ Financial Group, Liquidity Group, Baillie Gifford, and Generali’s private equity arm, bolttech is well-positioned to expand its digital platform across global markets. The company’s continued success reflects the growing momentum in the insurance tech industry, fueled by technological advancements such as artificial intelligence. It solidifies its role as a leader in reshaping the insurance landscape worldwide.

Zoomcar to launch Cab Rental Services, tapping into growing market demand

BRL Editor

December 20, 2024

Zoomcar will launch a chauffeur-driven cab rental service in Bengaluru, a major city in southern India, to explore opportunities in a broader transportation market segment. This move follows the departure of co-founder Greg Moran, who stepped down as CEO earlier this year after leading the company for over a decade, during which it went public in the United States.

Entering a market dominated by established players like Ola and Uber, which primarily focus on ride-hailing but also provide cab rentals, Zoomcar faces strong competition. The company plans to offer rental options ranging from two hours to over a month, targeting the growing demand for vehicles with drivers, a shift from its current self-drive rental model.

“If we look at the market in India, most of the market is always coming with drivers. So that is actually bigger for sure,” CEO Hiroshi Nishijima said in an interview.

Earlier this year, Zoomcar withdrew from international markets, citing a funding shortfall and high marketing expenses required for expansion beyond its home base in India.

In November, the company disclosed significant concerns about its ability to continue operations due to ongoing losses and the need for additional funding to address debt and working capital requirements.

The new cab rental service will be accessible through the Zoomcar app, allowing customers to select specific cars rather than from broader vehicle categories. The company will utilize an aggregation model, partnering with car owners and drivers to reduce costs associated with owning assets and employing staff.

Zoomcar does not plan to use cash-burning strategies such as offering steep discounts and incentives to compete in the cab rental space. Instead, the service will be competitively priced, according to the CEO.

CEO Paul Nishijima said the company is raising funds, which it intends to use for debt repayment, covering monthly losses, and supporting growth initiatives.

Zoomcar’s entry into the cab rental market represents a strategic pivot as the company seeks to navigate financial challenges and expand its service offerings. By leveraging an asset-light aggregation model and focusing on competitive pricing rather than aggressive discounting, Zoomcar aims to carve out a niche in a competitive space dominated by established players like Ola and Uber.

While the company faces hurdles, including raising funds and addressing operational losses, this new venture could provide a pathway to stabilize its financial position and tap into a broader market.

i-merit unveils Nova Courses to equip students for the upcoming placement season

BRL Editor

December 20, 2024

New Delhi, 20th December 2024: i-merit, the flagship program of Scholars Merit Online Pvt. Ltd., introduces its latest Nova courses tailored to support students in gearing up for the upcoming placement seasons. These courses are designed to provide a comprehensive blend of technical expertise and soft skills, preparing students to excel in interviews and secure rewarding job opportunities on and off-campus. As part of its expansion, i-merit will collaborate with over 100 colleges across North and Central India to empower 50,000 students.

One of the key challenges students face today is the outdated and overly theoretical curriculum in many traditional colleges. While students are being taught foundational knowledge, these curriculums often fail to equip them with the practical skills and real-world expertise that today’s employers seek. As technology advances rapidly, the speed at which it evolves is far outpacing the curriculum of traditional universities, leaving graduates unprepared to meet the expectations of the job market.

“The reality is that traditional college curriculums are no longer keeping pace with the demands of today’s rapidly changing job market. Despite gaining academic knowledge, many students find themselves underprepared for real-world challenges because the skills they need to succeed—both technical and interpersonal—are not being adequately taught. Our Nova courses are designed to bridge this gap, equipping students with the technical expertise and soft skills essential to stand out in competitive interviews and secure job placements. By collaborating with over 100 colleges this season, we aim to help 50,000 students gain the confidence and capabilities they need to succeed in their careers by March 2025,” said Sumit Shukla, CEO of Scholars Merit.

The World Economic Forum (WEF) report highlights a need to address and bridge the skills gap in India’s workforce. It shows that out of the 13 million people who join the workforce annually, only one-fourth of management professionals, one-fifth of engineers, and one-tenth of graduates are considered employable. In addition, a recent survey by TeamLease Degree Apprenticeship reveals that only 60% of IIT graduates secured placements in 2024, with the percentage of graduates meeting industry expectations significantly lower. When factoring in the increasing demand for advanced technology and AI skills, the employability figure drops even further, with only 0-15% of graduates fully meeting the industry’s needs.

The Nova courses offer a comprehensive curriculum to enhance students’ employability by building a strong foundation in industry-relevant skills. Improving employability skills hinges on mastering relevant technologies. Skills like NoSQL databases, cloud technologies, advanced CRM and ERP expertise, data platforms, AI & ML tools, and generative LLMs are critical today. Additionally, advanced programming skills such as Python and Java are essential for data engineering, with a focus on libraries like Pandas and NumPy for data manipulation and analysis. Students will also gain hands-on experience with tools like Jupyter notebooks for interactive coding and data visualization.

These programs are designed to help learners crack the most important interviews of their careers by equipping them with both the technical expertise required for specific roles and the soft skills necessary to thrive in professional environments.

The courses also emphasize the development of problem-solving and critical-thinking skills. Employers value candidates who can analyze situations, make informed decisions, and approach challenges creatively, making these abilities a cornerstone of the Nova curriculum.

In the coming months, Scholars Merit plans to expand its network of collaborations, working closely with colleges across India to impact a larger student base. The goal is to empower students to face placement challenges confidently and increase their chances of securing employment opportunities.

X Sky Lounge Hospitality emerges as a prominent new player in luxury F&B sector

BRL Editor

December 19, 2024

Saurav Bhaik, Founder & CEO- Tagbin, leveraging his expertise in technology and a proven track record in diverse businesses, saw the hospitality industry as the ideal next venture. Inspired by his travels to world-renowned cities like Dubai, New York, and London, he envisioned bringing a truly global-scale experience to India. Bhaik noticed a significant gap in India’s luxury F&B market, where experiential dining formats were few and far between despite thriving in other major cities. This realization sparked his desire to create a unique and high-end offering for the Indian market.

“In every corner of the world, there are spaces that capture our imagination and elevate our experiences. It is this realization, sparked during my travels, that led to the creation of X Sky Lounge. I witnessed how these global venues transformed ordinary nights into extraordinary memories and wondered why such a place was missing in our part of the world,” said Bhaik.

“With X Sky Lounge, our vision is not just to create another food and beverage space but to offer a destination that rivals the best in the world —a space where elegance meets innovation and every detail is crafted with care, it’s more than just luxury, it’s about creating an atmosphere where every guest feels truly valued and celebrated,” he said adding, “India has long been overdue for such a place and our mission with X Sky Lounge is to set a new benchmark and standard for luxury, not just here but on the global stage.”

“From exceptional food and drinks to immersive experiences, X Sky Lounge is a sanctuary of indulgence where every moment matters. We are deeply honoured to share this journey with you,” he added.

Gaurav Bakaya joins the team as CEO, bringing with him more than two decades of experience in the super-luxury and immersive luxury sectors, both in India and internationally. Bakaya has led prestigious brands such as the Ministry of Sound (London), The Bluefrog (India), and The Playboy Clubs in India. He believes the luxury market is expanding rapidly, with food and beverage now occupying a significant niche in the Indian market, offering vast potential for growth and scalability.

The first outlet, set to open in the first quarter of 2025 in the New Delhi NCR region, will feature three distinctive formats spread across 50,000 square feet. This format will include an exclusive members-only super-premium nightclub and event space showcasing top international and Indian performers, a luxury speakeasy cocktail bar, and a Japanese teppanyaki rooftop bar with a terrace. In Phase 2, the venue will expand to include a members-only club offering guest rooms, meeting and event spaces, and luxury concierge services.

The global F&B industry has transformed remarkably, embracing trends and innovations that have reshaped nightlife experiences. From immersive environments that stimulate all the senses to interactive technologies that boost engagement, brands constantly push the limits to deliver unforgettable experiences. VIP services, hyper-personalized bespoke experiences, and carefully curated music lineups add exclusivity and excitement.

Technological advancements have played a key role in this evolution, with interactive technologies and augmented reality elevating venues to new heights. These innovations enable guests to engage with their surroundings actively, making them an integral part of the spectacle and fostering a deeper immersion and connection.

“We will also embrace the concept of VIP experiences to cater to those seeking exclusivity and luxury. The focus is on providing personalized attention, premium amenities, and enhanced privacy to VIP guests, ensuring a truly elevated and memorable experience,” said Bakaya.

Bhaik and Bakaya emphasize that the future will bring even more immersive experiences, the integration of cutting-edge technologies, and continued dedication to delivering unforgettable nights of entertainment. They invite you to the peak of luxury, where the sky is just the beginning and the entire world is at your fingertips.

Private equity investments in Indian realty hit $4.2 billion in 2024

BRL Editor

December 19, 2024

Private equity investments in Indian realty hit $4.2 billion in 2024 — Shishir Baijal, CMD, Knight Frank India

Private equity investments in Indian real estate soared to $4.2 billion in 2024, reflecting a 32% growth compared to the previous year. The warehousing sector dominated, contributing 45% of the total investments, while the residential sector accounted for 28%, and the office sector made up 26%, according to data from Knight Frank India.

Private equity investments in the residential sector more than doubled to $1.2 billion in 2024, reflecting strong investor confidence driven by a steady increase in end-user demand.

The warehousing sector overtook the office sector, which had been the leading recipient of private equity investments since 2017, highlighting the rising significance of warehousing as a major contributor to private equity inflows in the Indian real estate market.

Mumbai emerged as the top destination for private equity investments, accounting for 50% of the total inflows, $2 billion in 2024, largely fueled by significant investments in the warehousing sector.

The warehousing segment led the way, contributing 74% of Mumbai’s private equity investments at $1.35 billion, while the residential sector secured $406 million, representing 20% of the city’s total private equity inflows.

Bengaluru attracted $833 million in private equity investments in 2024, with 52% directed toward the office sector and the remaining 48% allocated to the residential sector.

“India has seen a rise in investments, particularly over the past decade, driven by economic stability and consistent growth. The warehousing sector, propelled by the rise in e-commerce and third-party logistics, emerged as the top recipient of investments, followed by the residential sector, which benefited from growing consumer demand. While the office segment saw a dip, Indian commercial real estate remains resilient, supported by factors such as the return to workplaces, increasing office absorption, and strengthening rental values,” said Shishir Baijal, CMD, Knight Frank India.

In 2024, the UAE contributed the largest share of India’s private equity investments, approximately $1.7 billion, or 42% of the total capital inflows. Indian investors followed, deploying $1.3 billion and accounting for 32% of the investment share. Meanwhile, institutions and funds from Singapore invested an estimated $633.7 million in India’s private equity market.

“India is fast becoming a destination of choice for global investors who are attracted by the country’s consistent growth and ambitious economic plans. This year, specifically, we have seen interest from institutions from the Middle East and Asia that are looking for safe investment havens in markets that are largely familiar to them. We expect this trend to continue in the new year as the Indian economy and the real estate sector are expected to grow further,” said Harry Chaplin-Rogers, Director of International Capital Markets – India, Knight Frank.

Investments in the warehousing sector saw remarkable growth in 2024, surging 136% year-on-year to $1.9 billion. Mumbai emerged as the top destination, drawing $1.54 billion, followed by Chennai with $288 million. Pune also contributed to the sector’s expansion, attracting $52 million in investments. This strong momentum underscores the growing importance of warehousing as a key driver in India’s real estate market.

Velocity allocates Rs 200-Cr to boost restaurant and cloud kitchen brands

BRL Editor

December 19, 2024

Velocity allocates Rs 200-Cr to boost restaurant and cloud kitchen brands — Saurav Swaroop, Abhiroop Medhekar (in the middle), Atul Khichariya, Cofounders, Velocity

Cash-flow-based financing platform Velocity has allocated Rs 200 crore in 2025 to boost the growth of restaurant and cloud kitchen brands across India.

This fund addresses the unique challenges faced by F&B businesses, offering a solution to the difficulties they encounter in obtaining financing from traditional institutions like banks and NBFCs. By providing funding cash-flow-based, Velocity helps restaurants and cloud kitchens manage capital expenses and working capital, open new locations, purchase equipment, and launch sub-brands without affecting operational profits.

A Swiggy and Bain & Company report predicts that India’s food delivery and dining-out market will grow from about $66 billion to $108 billion by 2030.

Velocity’s fund is aligned with this growth, aiming to empower modern restaurants and cloud kitchen brands, particularly those partnering with food aggregator platforms like Zomato and Swiggy. The fund provides fast, scalable, and flexible financing solutions to help F&B brands capitalize on emerging market opportunities, expand their operations, and meet rising consumer demand.

Since its inception in 2020, Velocity has invested in numerous F&B brands, including IDC Kitchen, Smoor, Daily Sushi, Brahma Brew Works, Milano Ice Cream, Imperio, Amore Gelato, Jamie’s Pizza, and Baba’s Chicken. These brands have used the funds to grow their operations, improve supply chains, and boost marketing efforts.

India’s F&B sector is experiencing rapid evolution, fueled by trends like quick commerce, cloud kitchens, and ultra-fast delivery models. Services like Zepto, Swiggy Instamart, and Blinkit have pioneered 10-minute delivery options, with new offerings like Zepto Cafe, Bolt, and Bistro. Bigbasket and Magicpin are also preparing to enter this space, while rising startups such as Swish and Zing are gaining momentum.

Velocity, founded in 2020 by Abhiroop Medhekar, Atul Khichariya, and Saurav Swaroop, is a cash-flow-based financing platform for digital-first businesses. It leverages online data and cash flows to provide innovative financing solutions. Velocity has disbursed over Rs 1,000 crore to more than 1,200 businesses, helping them manage working capital challenges. The Bengaluru-based fintech company has raised $30 million in equity funding from Peter Thiel’s Valar Ventures. Its portfolio includes D2C brands such as Soulflower, Chumbak, and Off Duty.

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