Saturday, October 24, 2026
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Indian semiconductor startup Agrani Labs nears $50 Mn fundraise

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Dheemanth Nagaraj, Ashok Jagannathan, Srikanth Nimmagadda and Rajesh Vivekanandham, co-founders, Agrani Labs

Agrani Labs, a Bengaluru-based semiconductor startup founded by former Intel and AMD executives, is reportedly in advanced discussions to raise around $50 million, or approximately Rs 475 crore, in a fresh funding round.

According to people aware of the development, existing investor Peak XV Partners is likely to invest around $15 million in the round. Meanwhile, new investors, including 360 One, are expected to contribute the remaining capital.

Sources said Agrani Labs is currently negotiating a valuation of around $160 million to $200 million. This marks a significant increase from its earlier valuation of approximately $35 million, which it commanded during its $8 million seed funding round led by Peak XV Partners in June 2025.

Founded in 2024 by Dheemanth Nagaraj, Ashok Jagannathan, Srikanth Nimmagadda and Rajesh Vivekanandham, Agrani Labs plans to use the fresh capital to strengthen research and development, engineering and other growth initiatives.

The startup aims to develop AI inference chips compatible with Nvidia’s CUDA software stack. Through this approach, Agrani Labs plans to compete with US-based semiconductor companies such as SambaNova Systems and Groq.

The funding activity comes as India accelerates efforts to build a comprehensive semiconductor ecosystem across the value chain, including chip design, fabrication, advanced packaging, equipment, materials, and research and development.

India’s newly notified Semicon 2.0 scheme carries an outlay of Rs 1.27 lakh crore, or around $13.3 billion, and aims to attract approximately Rs 4 lakh crore, or $42 billion, in investments. The programme provides fiscal support for semiconductor fabs, advanced packaging facilities, and R&D initiatives.

Furthermore, India’s expanding semiconductor ecosystem has attracted increasing interest from global semiconductor companies and investors. The latest funding discussions highlight the growing appetite for Indian chip startups, although a significant funding gap remains between Indian companies and their global counterparts.

Building semiconductor products, however, remains a capital-intensive and long-term process. Startups must continue investing heavily in R&D, engineering, specialised talent and commercialisation before achieving meaningful scale.

Alteon raises $2.5 Mn to build autonomous aircraft that harvest wind energy

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Samay Sanghvi, Founder, Alteon

Alteon, founded by 20-year-old Samay Sanghvi, has raised $2.5 million in a pre-seed funding round led by Groom, with participation from Together Fund. The startup will use the capital to develop autonomous aircraft inspired by dynamic soaring, a technique that albatrosses use to extract energy from the wind.

According to Sanghvi, Groom decided to invest in Alteon within the first 30 minutes of their initial meeting. The startup aims to challenge the limitations of conventional aircraft, which must carry sufficient fuel or battery power to complete their flights.

Alteon is developing small, fixed-wing autonomous aircraft designed to extract energy from wind shear above the ocean through dynamic soaring. The technique involves repeatedly moving between layers of air travelling at different speeds to gain energy from the wind.

“Once you build airplanes that can stay in the air for more than a year, there are millions of things you can do with them,” Sanghvi said.

Initially, Alteon plans to deploy its aircraft for maritime surveillance, enabling governments to gain real-time visibility into activities within their waters.

The startup’s first aircraft will have a wingspan of around three metres. It will fly close to the ocean’s surface, climb into faster-moving air, turn, and repeat the cycle to extract energy from the wind. Eventually, Alteon also plans to use its propellers as turbines to convert wind energy into electricity and recharge its onboard batteries.

However, Alteon has not yet demonstrated that its aircraft can sustain flight entirely through energy harvested using dynamic soaring. Nevertheless, the startup recently tested its autonomous flight system over the Bay of Bengal, where the aircraft autonomously completed seven O-shaped cycles at speeds exceeding 62 miles per hour while flying within one metre of the water’s surface.

Alteon’s next major milestone involves achieving what Sanghvi calls “energy-neutral dynamic soaring.” This capability would allow the aircraft to remain airborne continuously with its propulsion switched off while extracting sufficient energy from the wind.

Dr. Gabriel Bousquet, a Silicon Valley-based aerospace and robotics engineer who researched dynamic soaring during his PhD at MIT, described Alteon’s low-altitude flight over water as a “promising first result.” However, he noted that the startup must still prove that its aircraft can reliably extract enough energy from real-world winds to sustain extended flights.

Bousquet also highlighted the challenges of flying close enough to the ocean’s surface to harvest wind energy safely. The aircraft must navigate turbulence, waves, spray, rain, and changing light conditions while continuously sensing and responding to the moving ocean surface.

Dr. Bharath Swaminathan, who earned his PhD from IIT Madras studying the stability of dynamic soaring, said the underlying physics behind the technology is well established and described Alteon’s efforts as commendable.

Swaminathan added that keeping an aircraft airborne for several days using dynamic soaring would represent “a very big step and a big achievement.” However, he noted that local wind shear and turbulence can vary significantly, even when large-scale wind conditions remain predictable. Therefore, real-world flight testing may reveal additional challenges.

Groom acknowledged the technical risks involved in Alteon’s ambitious mission. “Ambitious problems are always going to come with risks,” he said. “For me, it came down to believing Samay and the Alteon team are the ones to figure them out.”

Sanghvi started working on the concept behind Alteon immediately after high school in 2023. He learned aircraft development by building and crashing radio-controlled models before developing early prototypes. He formally founded Alteon in 2025 and secured early backing from Emergent Ventures and 1517.

Today, Alteon employs a team of 20 people in Bengaluru and operates from a 10,000-square-foot facility. The startup currently builds four to five aircraft every week for testing and has conducted more than 200 test flights over the past 30 days.

Celebrity Prime Hospitality launches CASA Hotels by Trunk & Trolley in Warangal

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Varun Kancharla, Founder & CEO, Celebrity Prime Hospitality

Celebrity Prime Hospitality (CPH), a growing hospitality group focused on developing differentiated hotel and stay experiences across India, has announced the launch of its latest property, CASA Hotels by Trunk & Trolley, in Warangal, Telangana.

CASA Hotels by Trunk & Trolley is an endorsed hospitality brand that combines CASA’s contemporary and accessible stay experience with Trunk & Trolley’s distinctive identity and hospitality philosophy.

The new property marks another step in CPH’s expansion strategy as the group brings its contemporary and accessible hospitality offerings to Warangal, one of Telangana’s emerging cities.

“Warangal is an important market for us as we continue to look beyond the conventional hospitality centres and build a network of properties that are relevant to how India is travelling and doing business today,” said Varun Kancharla, Founder & CEO, Celebrity Prime Hospitality.

CASA by Trunk & Trolley follows a simple approach of making quality hospitality experiences more accessible without compromising on the essentials that matter to guests. Moreover, the group’s entry into Warangal aligns with its broader vision of building strong hospitality brands across emerging and established markets.

The property will offer premium accommodation along with Akali, featuring a restaurant, banquet facilities and a spa. As a result, the hotel will cater to both short business stays and leisure travellers.

Furthermore, the launch strengthens CPH’s growing portfolio of hospitality assets and supports its ambition to build a multi-brand hospitality platform serving diverse guest segments and markets. Through CASA Hotels by Trunk & Trolley, CPH aims to combine functional comfort, contemporary design and dependable guest service while adapting each property to local market needs.

The Warangal launch also forms part of Celebrity Prime Hospitality’s broader expansion roadmap. The group plans to launch new properties in Goa and Bengaluru and continues to evaluate opportunities across the Telugu states and other high-potential markets in India.

Celebrity Prime Hospitality operates as a hospitality platform focused on developing, operating and scaling differentiated hospitality brands and properties across India. Its portfolio includes Trunk & Trolley and CASA Hotels by Trunk & Trolley. Currently, the group operates over 500 keys across nine properties and serves distinct guest segments in business, leisure and lifestyle hospitality.

CPH aims to build a scalable hospitality platform by combining strong operating systems, differentiated guest experiences and locally relevant properties to create an enduring hospitality brand.

Treat Hotels & Resorts to launch 132-room resort in Sangamner by 2028

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Treat Hotels & Resorts has signed a management agreement with the Malpani Group to develop a new resort in Sangamner, Maharashtra. The company plans to open the upcoming property in 2028.

With this signing, Treat Hotels & Resorts will have seven properties in Maharashtra and 21 properties across India. Meanwhile, the upcoming Treat Resort Sangamner will offer 132 guest rooms and a range of facilities for leisure stays, celebrations, and events.

The resort will feature multiple ballrooms and banquet spaces, along with multiple outdoor lawns. In addition, guests will have access to a restaurant and bar, as well as various recreational activities.

Sangamner has established itself as a destination driven by agriculture, education, and business. Therefore, the new resort will further strengthen Treat Hotels & Resorts’ presence in the region while supporting its broader expansion across India.

Once operational, Treat Resort Sangamner will cater to leisure travellers, families, event organisers and guests attending celebrations. At the same time, the property will add new accommodation and event facilities to Sangamner and further expand the company’s hospitality network.

YOGa Clean Air raises ₹20-Cr to expand clean-air solutions across India

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Sachin Panwar, Deepak Raina and Gaurav Nagar, co-founders, YOGa Clean Air

Clean tech startup YOGa Clean Air has raised ₹20 crore (around $2.1 million) in its Series A funding round through a combination of primary and secondary transactions led by Info Edge Ventures.

The round marks the startup’s first external funding and also attracted participation from Zomato founder Deepinder Goyal and Three Words Capital. YOGa Clean Air raised ₹10 crore as primary capital, while secondary transactions accounted for the remaining ₹10 crore.

The startup plans to use the fresh capital to strengthen its presence in existing markets and expand into new Tier I and Tier II cities. Additionally, YOGa Clean Air will allocate a portion of the funding to deploy its clean air solutions across public transport systems and other outdoor spaces.

YOGa founder and CEO Sachin Panwar said that the startup is eyeing ₹100 Cr in revenue this year.

Panwar founded YOGa in 2010, while the company formally established itself as YOGAN Solutions Pvt Ltd in 2019 alongside cofounders Deepak Raina and Gaurav Nagar. The startup develops indoor air-quality systems designed to improve air quality across entire rooms and buildings rather than treating only a limited area like conventional air purifiers.

Its Clean Air Bubble system filters outdoor air before bringing it indoors. Moreover, the technology uses positive air pressure to prevent polluted air from entering through doors, gaps, and other openings. The system also monitors and manages carbon dioxide (CO₂) levels to help maintain fresh indoor air.

YOGa installs the system through a small opening in a wall or glass and uses the technology to maintain positive air pressure throughout an indoor space. The startup claims that its system can deliver equivalent air quality across an entire house in around 55 minutes while consuming approximately 70 watts of electricity during continuous operation.

According to Panwar, YOGa follows a service-led model rather than relying on one-time hardware sales.

The startup currently operates its systems across 11 Indian cities and serves around 5,000 families, schools, offices, hospitals, and gyms. Furthermore, YOGa claims that it has completed projects for government institutions, including the deployment of its systems in parts of the Delhi High Court.

The startup has also signed projects with real estate players to deploy its clean air solutions. “Earlier, we were mostly doing retail. Now B2B is actually shifting. Orders are coming from large real estate projects and institutions,” Panwar said.

YOGa Clean Air competes with domestic startups such as Airth, Clairco, Ubreathe, and Atovio, which provide indoor air-purification solutions ranging from AC retrofitting technologies to plant-based solutions.

The latest fundraise comes as persistent air pollution continues to drive demand for indoor air-quality solutions beyond conventional air purifiers. Meanwhile, reports project India’s air purifier market to become a $1.2 billion opportunity by 2030.

Zomato lays off 250 employees in Hyderabad amid customer support operations restructuring

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Food delivery platform Zomato has reportedly shut down its customer support operations in Hyderabad, resulting in around 250 employees losing their jobs, according to a report.

The report stated that Zomato took the decision as part of a restructuring exercise following changes to its customer support model over the past six months. Meanwhile, the company has shifted a larger share of its customer support work to external partners.

According to the report, Zomato is consolidating its in-house customer support operations at its Gurugram headquarters. The move will bring the support function closer to the company’s product, technology, analytics, and business teams.

Zomato informed employees about the decision on Monday as part of a review of its customer support operating model and organisational requirements. As part of the transition, affected employees will receive their August salary along with four months’ pay, which includes contractual notice pay and a one-time ex gratia payment.

Additionally, the company will continue medical insurance and counselling support for affected employees until March 31, 2027.

The move follows a broader trend among consumer internet companies, which are increasingly shifting customer support functions to external service providers and automation. Consequently, companies can reduce their dependence on large in-house support teams.

Zomato had previously laid off around 500 junior-level employees in April 2025. The latest restructuring therefore marks another significant change in the company’s customer support operations.

Sayaji Hotels expands with new property signing in Bhavnagar

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Sayaji Hotels Ltd has announced the signing of a new Sayaji property in Bhavnagar, Gujarat, further strengthening its presence across the state.

Located in the Saurashtra region, Bhavnagar has built a strong industrial and commercial base while also attracting tourists and pilgrims. Moreover, the region provides convenient access to prominent destinations such as Palitana and Shatrunjaya Hill, Takhteshwar Temple, and Velavadar Blackbuck National Park.

The upcoming property will stand opposite Victoria Park and near ISKCON Megacity. Sayaji Hotels plans to develop the hotel across approximately 58,000 square feet of constructed area.

The property will feature 80 guest rooms, two banquet halls, two restaurants with seating capacities of 80 and 100 guests, respectively, and a dedicated gym.

Furthermore, the hotel will cater to business travellers, corporate groups, leisure guests, pilgrims, and families. Its restaurants and banquet facilities will also accommodate business meetings, celebrations, and social gatherings.

Bhavnagar’s strategic location and connectivity to business centres, pilgrimage destinations, and natural attractions create diverse opportunities for travellers. Therefore, the new signing supports Sayaji Hotels’ broader expansion strategy across business markets and emerging leisure destinations.

Prime Group to invest ₹1,500-Cr in Bihar real estate market over next four quarters

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Prime Group plans to invest around ₹1,500 crore in Bihar’s real estate market over the next four quarters, marking its major entry into the state’s property sector. The group aims to build a sizeable development portfolio in the region as it expands its presence across India.

As part of the expansion, Prime Group plans to develop a pipeline of around 5 million sq ft and deploy the proposed capital across residential and mixed-use projects in Bihar. Meanwhile, the group’s broader development ecosystem and business associations span markets such as Mumbai, Bengaluru, Kolkata, and Ranchi, and it now plans to deepen its development footprint in Bihar.

Prime Group currently maintains a zero-debt balance sheet, which provides the group with greater financial flexibility as it scales its development pipeline across the state. Consequently, the company can pursue new development opportunities while maintaining a strong financial position.

Furthermore, the group has onboarded strategic investors from the Middle East, overseas architects, and specialist consultants for its upcoming developments. Prime Group expects to announce details of these strategic partnerships in due course.

The proposed investment represents the first major phase of Prime Group’s expansion in Bihar. At the same time, the company continues to evaluate multiple development opportunities across the state as it works to expand its project portfolio.

Going forward, the group plans to scale its development pipeline over the coming quarters. Additionally, Prime Group expects to progressively announce details of new real estate projects and strategic partnerships as it strengthens its presence in Bihar.

Max Estates targets Rs 12,000-Cr revenue from new West Delhi land parcel

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Realty firm Max Estates Ltd has acquired an 84.71-acre land parcel in West Delhi from promoter-owned land-holding entities through a Rs 420 crore share-swap deal. The company plans to develop residential and commercial projects on the site and expects the upcoming developments to generate revenue of Rs 10,000-12,000 crore.

With the acquisition, Max Estates has now entered Delhi’s housing market. Meanwhile, the company already maintains a residential presence in the Gurugram and Noida markets across the Delhi-NCR region.

In a regulatory filing on Saturday, Max Estates said it had signed a share purchase agreement to acquire 100 percent stakes in nine promoter-owned land-holding companies. Together, these companies own the 84.71-acre land parcel.

Max Estates will fund the transaction by issuing equity shares instead of making a cash payment. Under the agreement, the company will allot around 70 lakh equity shares at an issue price of Rs 597.50 per share to identified allottees, taking the total consideration to approximately Rs 420.2 crore.

Following the transaction, the nine land-owning companies will become wholly owned subsidiaries of Max Estates.

The firm said the acquisition will further support its growth strategy as it continues to expand its residential development pipeline. Meanwhile, the realty firm currently has a strong residential launch pipeline with a total revenue potential of Rs 16,150 crore.

“The company is targeting the next phase of growth in presales and pipeline, a trajectory that requires continuous replenishment of developable land…,” the company said.

The real estate company plans to develop an integrated, mixed-format project on the land, combining residential, retail, social, and community infrastructure. The development will create an estimated 4-6 million sq ft of developable area and carry a revenue potential of Rs 10,000-12,000 crore.

The transaction will also expand Max Estates’ land bank and future revenue pipeline without requiring any cash outflow.

Sahil Vachani, Vice Chairman & Managing Director, Max Estates, said, “This is a landmark transaction for Max Estates. It gives us our first foothold in Delhi—the one core NCR market we did not yet have a presence in—at a fraction of prevailing land values elsewhere in the region, and without deploying a rupee of cash.”

Vachani added that the land parcels sit at the heart of Delhi’s westward urban expansion under Master Plan 2047. He also highlighted the area’s strong land-pooling momentum and improving connectivity through UER-II, Dwarka and IGI Airport.

“At this scale, the parcel gives us a multi-year, phase-able pipeline that directly addresses the land-bank visibility while remaining significantly accretive for all our shareholders,” Vachani said.

The acquisition strengthens Max Estates’ presence across the Delhi-NCR real estate market and provides the company with a multi-year development pipeline in Delhi. The company is one of the leading real estate developers in the country.

Sterling Holiday Resorts enters Chhattisgarh with 80th resort in Jagdalpur

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Sterling Holiday Resorts has entered Chhattisgarh with the launch of Sterling Naman Bastar, Jagdalpur, marking its 80th resort in India. The property also becomes the first hotel in Jagdalpur to operate under a national hospitality brand, strengthening the city’s hospitality infrastructure.

The launch provides travellers with a new base to explore Bastar, a region celebrated for its forests, waterfalls, caves, local markets, traditional crafts, and distinctive food culture. Furthermore, the property aims to make the region more accessible to travellers seeking nature, culture, and immersive experiences.

Bastar combines diverse natural landscapes with living cultural traditions. Travellers can visit Chitrakote and Tirathgarh Falls, explore the forests and limestone caves of Kanger Valley, experience local haats, and discover the region’s renowned Dhokra craft traditions.

Food also plays an important role in the Bastar experience. Local ingredients such as rice, bamboo shoots, and forest produce feature prominently in traditional dishes, including Baasta, Angakar Roti, Chaur Bhaja, Farra, and Tikhur.

Meanwhile, improved connectivity is making Bastar easier to access. Jagdalpur Airport offers direct air connections to Hyderabad and Raipur, connecting the destination with major urban centres.

Located on Chitrakote Road, Sterling Naman Bastar spans around 3.21 acres and offers 45 rooms across five categories. The accommodation options include garden-facing rooms, suites, and a private pool villa, catering to different traveller preferences.

The resort also features an indoor swimming pool, spa, and recreation facilities. In addition, its lawns and banquet spaces can accommodate family stays, celebrations, events, and group travel.

The property offers two dining options: Amravan, a multi-cuisine vegetarian restaurant, and Little Bites, a café serving regional specialities alongside other familiar dishes.

Vikram Lalvani, Managing Director and CEO, Sterling Holiday Resorts, said, “Some destinations are already on everyone’s travel list. Others are waiting to be discovered. We believe Bastar belongs in the second category. The combination here includes waterfalls, forests, caves, craft, cuisine, and a rich living culture. Yet Bastar remains relatively under-discovered by the mainstream Indian traveller. Our role as a Destination Architect is not simply to put a hotel in such a location but to help travellers understand why they should come here and then make the destination easier and richer to experience. With Jagdalpur providing the gateway and Sterling Naman Bastar providing a hospitality base, we have an opportunity to introduce more travellers to the region. Our 80th resort is therefore a milestone for Sterling and an opportunity to support Bastar’s place within India’s travel landscape.”

Jayesh Sangani and Rachit Sangani, owners of Sterling Naman Bastar Jagdalpur, a unit of Dishi Resort Pvt. Ltd., said, “Bastar has potential as a destination, with its natural landscapes and cultural heritage. Our association with Sterling combines our understanding of the region with the brand’s reach, distribution, and hospitality experience. Together, we aim to establish Sterling Naman Bastar as a base for travellers exploring Jagdalpur and the wider Bastar region.”

The Bastar opening supports the hotel group’s destination-led expansion strategy. In established markets, the company is developing connected travel circuits, while in emerging destinations, it is establishing hospitality bases that can contribute to local tourism growth.

With Sterling Naman Bastar, Sterling Holiday Resorts adds Jagdalpur to its growing network and creates another gateway for travellers exploring Chhattisgarh and the wider Bastar region.