ASPHL signs Zone Connect by The Park Dehradun with Hilton Infratech

March 30, 2026

Apeejay Surrendra Park Hotels Limited (ASPHL) has announced the signing of a hotel management agreement for the development of Zone Connect by The Park Dehradun in partnership with Hilton Infratech Private Limited. This move further strengthens the brand’s expansion strategy in high-growth regional markets.

The upcoming hotel will cater to both leisure and business travellers, offering a well-rounded hospitality experience. Additionally, the property will feature a conference room for meetings, along with flexible indoor and outdoor banqueting spaces. These facilities will support a wide range of events, including social gatherings, weddings, and corporate functions.

Sharing his views on the development, Vikas Ahluwalia, AVP & National Head, Zone by The Park Hotels, said, “We are delighted to expand our footprint with the signing of Zone Connect by The Park, Dehradun. As our third hotel in the state, this reinforces our growing presence in Uttarakhand and underlines our focus on tapping high-potential emerging destinations while delivering vibrant and engaging hospitality experiences. Zone Connect by The Park is the quintessential metropolitan hotel, albeit more tasteful and affable to the wallet, offering contemporary spaces that foster connections, collaboration, and a sense of community.”

Meanwhile, Sudhir Kumar, Director at Hilton Infratech Private Limited, highlighted the significance of the partnership. He stated, “We are pleased to collaborate with Apeejay Surrendra Park Hotels Limited, known for its distinctive hospitality. This partnership allows us to leverage their expertise and brand strength to create a compelling offering for modern travellers in Dehradun.”

Located in Dehradun, a rapidly growing destination for both tourism and business travel, the project aligns with ASPHL’s strategy to expand in emerging markets. Furthermore, the collaboration will enhance the city’s hospitality ecosystem by introducing a contemporary, experience-driven hotel offering.

As demand for quality accommodation rises in emerging destinations like Dehradun, this development will cater to evolving traveller preferences and contribute to the region’s hospitality growth.

A.S Hotels signs Wyndham Garden Khajuraho Airport Road, opening set for 2027

BRL Editor

March 30, 2026

A.S Hotels, led by Ashok Gautam, has announced the signing of Wyndham Garden Khajuraho Airport Road, a 92-key hotel being developed in collaboration with Wyndham Hotels & Resorts. The property will open in the third quarter of 2027, thereby strengthening the region’s branded hospitality infrastructure.

Strategically located near the airport, the upcoming hotel will feature 92 well-appointed guest rooms. In addition, it will include an all-day dining restaurant, meeting and event spaces, a fitness centre, and a swimming pool. Furthermore, the property aims to serve both leisure and business travellers by combining modern amenities with the established service standards of the Wyndham Garden brand.

Sharing his perspective, Ashok Gautam, Promoter, A.S Hotels, said, “We are proud to partner with Wyndham Hotels & Resorts to introduce Wyndham Garden to Khajuraho. With its proximity to the airport and world-renowned monuments, we see strong potential for high-quality, branded accommodation in this market. This development reflects our commitment to bringing internationally recognised hospitality standards to key cultural destinations in India.”

Meanwhile, Rahool Macarius, Market Managing Director – Eurasia at Wyndham Hotels & Resorts, highlighted the destination’s appeal. He stated, “Khajuraho is one of India’s most distinctive and culturally rich destinations, with strong appeal for both domestic and international travellers. As connectivity continues to improve, we are seeing growing demand for trusted, high-quality accommodation in locations like this. Through our partnership with A.S Hotels, Wyndham Garden Khajuraho Airport Road will offer guests a comfortable, reliable base from which to experience the destination, while supporting the continued evolution of India’s heritage tourism markets.”

Notably, Khajuraho, known for its UNESCO-listed temples and cultural heritage, continues to attract both domestic and international tourists. Therefore, the addition of a globally branded hotel will enhance the region’s hospitality offerings while supporting the growth of heritage tourism in India.

As connectivity improves and tourism demand grows, this development is likely to play a key role in elevating Khajuraho’s hospitality landscape and strengthening India’s midscale hotel segment.

Luxembourg startup Terraspark secures €5M pre-Seed to advance space-based solar power technology

BRL Editor

March 30, 2026

Terraspark, a Luxembourg-based startup focused on developing space-based solar power, has successfully completed its pre-seed funding round, raising over €5 million. The company will use the capital to further advance its modular technology while also preparing for initial pilot applications and live demonstrations.

The funding round attracted backing from notable investors, including Daphni, Sake Bosch, Better Ventures, Hans(wo)men Group, Luxembourg Business Angel Network, and Karaoke Club.

“Space-based solar power has long been considered something for the distant future. Across Europe, energy resilience is now a practical concern, not an abstract one. With our step-by-step approach and starting with commercially viable systems on Earth, we are convinced that space-based solar power can become real infrastructure within a realistic timeframe,” said Jasper Deprez, founder and CEO of TerraSpark.

Deprez, Dr. Sanjay Vijendran (CTO), and Matthias Laug (COO) founded Terraspark in 2025, and the company is building space-based solar power (SBSP) systems with a long-term vision to transmit solar energy from orbit. The company aims to create a continuously operational, weather-independent, and globally accessible energy infrastructure.

The founding team brings deep domain and entrepreneurial expertise. Deprez previously built Tradler into a global HRTech platform. Meanwhile, Dr. Vijendran led the Solaris programme on space-based solar energy at the European Space Agency and also contributed to the Mars Sample Return Mission. In addition, Laug co-founded Lieferando and Tier Mobility, gaining extensive experience in scaling large European platform businesses.

Fragile grids, rising electricity demand, and overloaded transmission systems continue to make reliable energy distribution increasingly complex. Furthermore, the rapid expansion of data centres driven by AI adoption is placing additional pressure on energy systems.

Terraspark also points out that the International Energy Agency expects global data centre energy demand to more than double by 2030. In off-grid environments, where diesel generators remain common, electricity costs can range between €0.70 and €1.50 per kilowatt hour. Even in regions with abundant clean energy, inefficient transmission infrastructure often prevents effective distribution. Therefore, long-term solutions must address both sustainable generation and global energy transmission.

To solve this, Terraspark is developing space-based solar energy systems that capture solar power in orbit. The company then transmits this energy to Earth using radio frequency waves, enabling global accessibility. Although the concept has existed since the 1970s, falling launch costs and advances in satellite manufacturing and orbital robotics now make it economically viable.

However, instead of immediately deploying large-scale orbital systems, Terraspark is initially focusing on Earth-based applications. Specifically, it is commercialising radio frequency-based wireless energy transmission for industrial use cases. This phased approach allows the company to demonstrate safety, efficiency, and regulatory compliance before scaling to orbital systems.

Explaining its operational model, Terraspark captures solar energy in space and transmits it to Earth via a steerable radio frequency beam. A ground-based rectenna converts these radio waves into usable electricity, while the system uses batteries only to manage short, predictable interruptions.

“In the coming months, TerraSpark will prepare its first pilot applications and demonstration use cases—including wireless power supply for a live event. An orbital technology demonstrator is also planned for 2027. At the same time, the company is laying the groundwork for its first space-to-Earth power transmission, planned for 2028,” the company stated in its press release.

Looking ahead, Terraspark has outlined a three-phase roadmap. In Phase 1 (2026), it will wirelessly transmit power over controlled distances on Earth to validate alignment accuracy, energy density, and atmospheric tolerance. Subsequently, Phase 2 (2027–2028) will involve demonstrating power beaming from orbit using an SBSP satellite prototype. Finally, in Phase 3 (2030), the company aims to achieve full-scale commercial deployment by launching a constellation of satellites capable of delivering continuous, reliable energy worldwide.

While its phased, modular strategy reduces execution risk, its success will depend on technological validation and regulatory alignment. If achieved, space-based solar power could redefine global energy distribution by offering a continuous, weather-independent, and scalable solution to rising energy demand.

Grand Continent Hotels enters Gurugram, expands footprint in Delhi NCR

BRL Editor

March 30, 2026

Grand Continent Hotels Limited has officially launched a new hotel in Gurugram, thereby marking its strategic entry into the Delhi NCR hospitality market while expanding beyond its stronghold in South India. Located in Sector 45, Greenwood City, the property is will cater to corporate travellers, long-stay guests, and domestic leisure demand. Moreover, its proximity to major business hubs and transport connectivity strengthens its positioning as a practical and efficient mid-market hospitality option.

With this launch, the company continues to scale its footprint, now operating 30 properties across more than 17 cities, with a combined inventory of over 1,800 keys. Furthermore, the group has consistently focused on urban-centric locations and standardised service offerings, enabling operational efficiency and a reliable guest experience across its portfolio.

Commenting on the expansion, Ramesh Siva, Founder and Managing Director, Grand Continent Hotels Limited, said, “The launch in Gurugram marks an important step in our growth journey. Having established a strong foundation in South India, we are now focused on expanding across key North Indian markets, including Delhi NCR, Ayodhya, Jaipur, Varanasi, Somnath, and Rameswaram. Strengthening our presence in the city further, we have also signed a 56-key hotel, strategically located near the Google office in Gurugram. Over the next two years, we plan to add 15 hotels across these key cities as we continue to build a scalable and sustainable hospitality network.”

Additionally, the newly launched hotel features 38 well-appointed rooms, complemented by a restaurant, fitness centre, and dedicated meeting spaces, thereby catering to both business and leisure segments.

Grand Continent Hotels Limited is steadily strengthening its national footprint by entering high-demand urban markets like Gurugram. While the company continues to focus its expansion strategy on scalability and operational efficiency, it aims to enhance brand visibility and capture the rising demand in the mid-market hospitality segment across North India.

B2B manufacturing marketplace Zetwerk plans Rs 5,000-Cr IPO, seeks fresh capital amid stable valuation

BRL Editor

March 30, 2026

B2B manufacturing marketplace Zetwerk plans Rs 5,000-Cr IPO, seeks fresh capital amid stable valuation — Amrit Acharya, Srinath Ramakkrushnan, Rahul Sharma, and Vishal Chaudhary, co-founders, Zetwerk

B2B manufacturing marketplace Zetwerk is currently in discussions to raise around Rs 500 crore in pre-initial public offering (IPO) funding from Bharat Value Fund, along with participation from a group of high-net-worth individuals (HNIs), according to sources familiar with the matter.

However, the proposed funding round is expected to value the company at Rs 25,000–26,000 crore (approximately $3 billion), which remains largely unchanged from its previous valuation. As a result, this signals cautious investor sentiment as the company moves closer to its anticipated public market debut.

At the same time, Zetwerk is preparing to confidentially file its draft IPO papers with the Securities and Exchange Board of India (Sebi), as per people aware of the development. The IPO size is likely to be around Rs 5,000 crore, including Rs 2,700–2,800 crore in fresh capital, while the remaining portion will come through an offer for sale (OFS). “We have no comments to offer regarding our capital raising plans,” said a Zetwerk spokesperson.

Founded in 2018 by Amrit Acharya, Srinath Ramakkrushnan, Rahul Sharma, and Vishal Chaudhary, Zetwerk operates a managed marketplace that connects enterprise buyers with manufacturing suppliers across sectors such as industrial machinery, electronics, renewables, and aerospace.

Meanwhile, the company has appointed leading financial institutions, including Kotak Mahindra Bank, Goldman Sachs, Pantomath Investment Banking, Morgan Stanley, HSBC, and JM Financial, as merchant bankers for the IPO.

Earlier, in July 2025, founders Acharya and Ramakkrushnan infused Rs 600 crore into the company by raising personal debt, thereby increasing their combined stake by 2 percentage points. Prior to that, in December 2024, Zetwerk raised $70 million in a funding round led by Khosla Ventures, Rakesh Gangwal, cofounder of IndiGo, and Baillie Gifford. Notably, this round valued the company at $3 billion, up from $2.7 billion in 2023.

Financially, Zetwerk reported an 11% decline in operating revenue to Rs 12,798 crore for FY 2024-25. Nevertheless, the company managed to significantly narrow its net loss to Rs 371 crore, compared to Rs 918 crore in the previous fiscal year. Furthermore, in April last year, CEO Acharya wrote to employees, stressing the importance of improving productivity, eliminating inefficiencies, and ensuring profitability across all business units.

On the leadership front, Zetwerk witnessed a key executive movement in February this year when electronics business head Josh Foulger, previously a senior executive at Foxconn, exited the company to join rival Dixon Technologies. In comparison, Noida-based Dixon Technologies reported a robust financial performance, with consolidated operating revenue of Rs 38,860 crore and a net profit of Rs 1,233 crore for FY 2024-25. Additionally, the company currently commands a market capitalisation exceeding Rs 60,000 crore.

Zetwerk is entering a critical phase as it prepares for its IPO, balancing growth ambitions with financial discipline. While steady valuation and reduced losses indicate progress, investor caution and rising competition underline the importance of sustained profitability and execution. If the company successfully strengthens its fundamentals, it could emerge as a significant player in India’s manufacturing and B2B marketplace ecosystem post-listing.

Team Marksmen Network’s Marketing and Communication Excellence Awards recognised those that “Influence with Intent”

BRL Editor

March 28, 2026

Who owns influence today? Would you say brands do so? Perhaps you believe leaders rule the roost? Or maybe you’re of the belief the algorithm rules supreme?

Think about it. Really think about it. It is a question that sounds deceptively straightforward until you actually try to answer it. Because the truth is that the ownership of influence has become genuinely contested, and the rules are being rewritten in real time.

Getting to the bottom of this rabbit hole might not be as easy as you think, but the inaugural edition of the Team Marksmen network’s Marketing and Communication Excellence Awards brought together 80+ senior leaders, including corporate communication heads, industry experts, and decision-makers, to discuss the evolving nature of influence in today’s digitally driven and decentralised ecosystem.

The event commenced with a welcome address by Sharad Gupta, Co-Founder & Managing Director, Team Marksmen Network, who highlighted the growing significance of purposeful influence in an increasingly fragmented media landscape. In his remarks, he emphasised that influence today is shaped not only by brands but also by leadership voices, digital platforms, and evolving audience expectations.

A key highlight of the conference was a thought-provoking panel discussion on “Who Owns Influence Today – Brands, Leaders, or Algorithms?” which examined how influence has evolved in a world where digital platforms, artificial intelligence, and leadership narratives play a defining role in shaping public perception.

The panel featured distinguished industry leaders including Honeydeep Singh Sabharwal, Chief Operating Officer & CMO, Pando.ai; Priti Gandhi, Head of Communications, TKIL; Natasha Kedia, Head – Investor Relations & Corporate Communications, Crompton Greaves Consumer Electricals; and Samina Khalid, Head – Corporate Communications, Thermax Limited. The discussion was moderated by Karan Karayi, Editor-in-Chief, Team Marksmen Network, who guided the conversation on key themes such as the shifting ownership of influence in a fragmented media ecosystem, the growing impact of algorithms on perception, the role of leadership credibility in building trust, and the importance of balancing AI-driven communication scale with authenticity and ethical responsibility.

Adding further depth to the conference, Mohit Shrivastava, AVP – Research & Consulting at Coherent Market Insights, shared insights into the evaluation framework and research methodology used to identify influential leaders and organisations, highlighting the parameters used to assess leadership credibility and communication impact.

The conference also featured a special address by the Chief Guest, Shri Subhash Desai, Former Minister of Industries, Government of Maharashtra, who spoke about the importance of responsible leadership, trust, and purposeful communication in shaping meaningful influence across governance and business. He also felicitated the distinguished leaders, acknowledging their contributions to driving impactful and responsible communication.

The event concluded with a felicitation ceremony, where 35 leaders were felicitated for their excellence in corporate communications, leadership influence, and industry impact. Those recognised in this celebration par excellence included:

The Marketing and Communication Excellence Awards recognised something specific: not the loudest campaigns, not the biggest budgets, but the leaders and organisations that have built influence that lasts. Influence grounded in trust, credibility, and a genuine commitment to impact, whose ripple effects will be felt far and wide.

The following leaders were felicitated under the respective categories:

Leaders in Focus – Marketing

* Amit Garg, Hindustan Petroleum Corporation Limited

* Anchit Chandra, Muthoot Fincorp Limited

* Bansri Rajadnye, Galderma

* Divya Batra, Haldiram’s

* Honeydeep Singh Sabharwal, Pando.ai

* Jiteen Aggarwal, Hettich India

* Khyati Shah, Welspun World

* Priti Vinchhi, Leap India

* Priyankka Sethhi, Haier Appliances

* Rajashakher Intha, Cyble

* Ranjan Dhar, ArcelorMittal Nippon Steel India (AM/NS India)

* Reema Wadhwani, Uniphore

* Ruchi Mohan, IBM India Pvt. Ltd.

* Salman Hamdulay, NTT Data Global Data Centers

* Shreyashi Keshri, McCain

* Sumit Puri, Tata CLiQ

* Stuti Anand, NiCE (India & ME)

* Vinod Philip, Lumina Datamatics

Rising Star – Marketing

* Aakash Mishra, Donear Group

* Abhijit Rajkumar Bakhtiani, GM Modular

* Harsh Gulati, Fenesta

* Pooja Rawal, ArcelorMittal Nippon Steel India (AM/NS India)

* Prabhsharan Kaur, SKF India

* Sonam Shetty, NTT Global Data

Leaders in Focus – Corporate Communications & PR

* Apoorva Saigal, Piaggio

* Joeleen Gomez, Ramboll India

* Meena Iyer, Tata CLiQ

* Priti Gandhi, TKIL Industries

* Shirley C. Dsilva, Lenovo India

* Jaikishin Chhaproo, ITC Limited

* Madiha Vahid, Piramal Pharma

* Natasha Kedia, Crompton Greaves Consumer Electricals Ltd

* Samina Khalid, Thermax Limited

* Shilpashree Muniswamappa, Colgate Palmolive

* Shree Das, Britannia

Team Marksmen Network’s Most Trusted Brands of India 2026–27 Recognises Brands Building Strong Consumer Confidence

BRL Editor

March 28, 2026

The 6th edition of the Most Trusted Brands of India, a gala industry event bringing together the who’s who of the industry, successfully concluded on March 13th at the Sahara Star in Mumbai. This unique industry platform brought together 200+ senior professionals, including marketing leaders, CXOs, and key decision-makers from across industries to explore the evolving dynamics of consumer trust, brand perception, and market leadership.

The event commenced with a welcome address by Rajesh Khubchandani, Co-Founder & Managing Director, Team Marksmen Network, who highlighted the growing importance of trust and perception in shaping brand leadership in today’s rapidly evolving marketplace.

A key highlight of the evening was a thought-provoking panel discussion on “Reputation, Relevance & Reinvention – The New Rules of Consumer Perception,” which explored how brands can remain relevant in an era defined by changing consumer expectations and an increasing demand for authenticity.

The panel featured distinguished marketing leaders, including Prashant Sukhwani, VP Marketing, Burger King; Abhishek Kumar Srivastava, Vice President Marketing (CMO), Piramal Consumer Healthcare; Deepak Oram, SVP – Growth Marketing & Martech, HDFC Bank; and Gaurangi Desai Mehra, Director – Marketing & Communications, APAR Industries. The discussion was moderated by Amiya Swarup, Partner – Marketing Consulting, Ernst & Young, who guided the conversation on key themes such as the role of culture and communities in shaping brand reputation, the rise of purpose-driven consumer behaviour, and strategies for managing perception amid disruption and increasing consumer scepticism.

Adding further depth, Mohit Shrivastava, AVP—Research & Consulting, Coherent Market Insights, presented insights into the evaluation framework and research methodology used to identify the Most Trusted Brands of India, outlining the analytical parameters used to assess brand trust and consumer perception.

The event also featured a special address by the Chief Guest, Shri Kripashankar Singh, Former Minister of State for Home Affairs of Maharashtra and Vice President of the Bharatiya Janata Party, who emphasised the importance of trust, credibility, and responsible leadership in both governance and business. He also felicitated the winning organisations, recognising their commitment to building strong and enduring consumer relationships.

The evening culminated with the felicitation ceremony, where a clutch of eminent brands were felicitated for their excellence in fostering consumer trust through innovation, transparency, and consistent value delivery. Those recognised included:

The event successfully brought together industry leaders and experts to share meaningful insights on the evolving landscape of consumer perception, reinforcing the growing importance of trust, authenticity, and purpose in building enduring brands.

The evening honoured the following brands as the Most Trusted Brands of India 2026:

* APAR Cable Solutions

* Appliances Business, Godrej Enterprises Group

* ArcelorMittal Nippon Steel

* Avaada

* BHARAT PETROLEUM CORPORATION LIMITED

* BirlaNu Leakproof Pipes

* Bisleri International Pvt. Ltd.

* Bright Outdoor

* Burger King

* CooperVision India

* DURASHINE® By Tata Steel Colors

* EaseMyTrip

* Everest Food Products Pvt. Ltd.

* Fenesta

* Google Cloud

* Greenpanel Industries Limited

* Haier Appliances India

* HDFC Bank

* HETTICH

* Independence

* Insolation Energy Limited (INA Solar)

* i-pill daily

* JAIRAJ GROUP

* Jio-bp

* Johnson’s Baby

* KALLIYATH TMT

* Kissht

* Konica Minolta Business Solution India Pvt. Ltd.

* Lacto Calamine

* Laljee Godhoo & Co.

* Luminous Power Technologies

* Meenakshi Udyog (India) Pvt. Ltd.

* Mold-Tek Packaging Limited

* Muthoot FinCorp Ltd.

* Neelam Stainless Steel

* Nova

* OMRON Healthcare India

* OneAssist Consumer Solutions

* OSEL Devices Limited

* Shalimar Paints Ltd.

* Škoda India

* Tata CLiQ Luxury

* TenderCuts Farm-Fresh Meats & Fresh Fish

* UltraTech Cement

* UNITED INDIA INSURANCE COMPANY LIMITED

* V.P. Bedekar & Sons Pvt. Ltd.

* Wagh Bakri Tea

* WONDERCHEF HOME APPLIANCES

Spacetech startup Bellatrix Aerospace secures $20 Mn in funding to scale satellite propulsion systems

BRL Editor

March 28, 2026

Spacetech startup Bellatrix Aerospace secures $20 Mn in funding to scale satellite propulsion systems — Rohan M Ganapathy and Yashas Karanam, co-founders, Bellatrix Aerospace

Bellatrix Aerospace, a Bengaluru-based spacetech startup, has raised $20 million (Rs 190 crore) in a funding round led by Cactus Partners as it aims to scale the commercial production of its satellite propulsion systems and expand global deliveries.

Additionally, the round attracted participation from Hero Investment Office, 35 North Ventures, Indusbridge Ventures, and Monarch Holdings. Existing investors, including Inflexor Ventures, Pavestone, GrowX Ventures, StartupXseed, and Survam Partners, also continued their support.

Founded in 2015, Bellatrix Aerospace develops electric and green propulsion systems for satellites. The company follows a vertically integrated model by managing design, manufacturing, and testing operations in-house, thereby ensuring greater control over quality and innovation.

Earlier, Bellatrix gained recognition after winning the Best on Campus award at the Economic Times Startup Awards 2020.

Commenting on the development, co-founder and CEO Rohan Ganapathy said the company has already flight-qualified its core technologies and is now focused on building a reliable production propulsion system. “This investment allows us to increase our annual production capacity significantly, ensuring we remain the most trusted partner for operators requiring propulsion at scale.”

Furthermore, Bellatrix plans to deploy the fresh capital to expand its manufacturing capacity and establish new production lines to meet the growing demand from satellite constellation operators in India and international markets. The funding will also support ongoing customer programmes.

Co-founder and COO Yashas Karanam highlighted the company’s progress, stating, “We’ve moved from flight-proven to factory-ready,” while adding that Bellatrix has reduced propulsion system lead times to under six months and improved unit economics.

The funding comes at a time when global demand for satellite propulsion systems continues to rise, driven by the rapid expansion of low-earth orbit satellite constellations. At the same time, several Indian and global startups are approaching key launch milestones, further accelerating demand for reliable propulsion technologies.

Sharing his perspective, Amit Sharma noted that Bellatrix represents a strong asset in the spacetech ecosystem. “Bellatrix is a unique asset with a robust history of space technology innovation. Rohan and Yashas have invested more than a decade in creating leading, cost-effective technologies for electric and green propulsion systems,” he said.

He further added that Bellatrix’s propulsion systems have the potential to de-risk a critical component of satellite missions, reinforcing its strategic importance in the global space industry.

As satellite deployments accelerate worldwide, the company’s focus on efficient and scalable propulsion systems could play a crucial role in shaping the future of space missions.

Furniture rental platform Rentomojo moves ahead with IPO plans

BRL Editor

March 28, 2026

Furniture rental platform Rentomojo moves ahead with IPO plans — Geetansh Bamania, founder and CEO, Rentomojo

Backed by leading investors such as Accel, Edelweiss, ValueQuest, and Chiratae Ventures, Rentomojo filed its draft red herring prospectus with the Securities and Exchange Board of India on March 27 to raise funds through an initial public offering (IPO).

The Bengaluru-based company plans to raise Rs 150 crore through a fresh issue of shares. In addition, existing investors will offload up to 2.83 crore equity shares via an offer-for-sale (OFS). Notably, shareholders such as Accel India, Edelweiss Discovery Fund, ValueQuest, Madison India, Chiratae Ventures, GMO Payment Gateway, and promoter Geetansh Bamania will participate in the OFS.

Furthermore, the company may raise up to Rs 30 crore in a pre-IPO round as part of the fresh issue component. Currently, promoters hold a 21.51 percent stake in Rentomojo, while public shareholders own 73.66 percent. Meanwhile, employee trusts account for the remaining 4.83 percent stake.

Among public investors, Accel India IV (Mauritius) holds the largest share at 20.92 percent. It is followed by Edelweiss Discovery Fund with 10.53 percent, Chiratae Ventures with 10.28 percent, and ValueQuest with 8.92 percent.

Rentomojo operates a direct-to-consumer online rental and subscription platform for furniture and appliances across India. The company intends to utilize Rs 70 crore from the net proceeds of the fresh issue to repay certain outstanding borrowings. Specifically, it will allocate Rs 42.5 crore towards lease rentals and license fees for warehouses and experience stores, while the remaining funds will support general corporate purposes.

As of January 2026, Rentomojo reported total outstanding borrowings of Rs 179.5 crore on a consolidated basis. At the same time, analysts estimate the broader home furniture and appliances rental market in India at Rs 69,520 crore in CY2025 and project it to grow at a CAGR of approximately 11 percent to reach Rs 1,17,210 crore by CY2030.

On the financial front, the company has demonstrated strong growth momentum. It reported a 92.3 percent increase in profit to Rs 43.1 crore for the financial year ended March 2025, compared to Rs 22.4 crore in the previous year. Additionally, revenue rose 38 percent to Rs 266 crore from Rs 192.7 crore during the same period.

Moreover, for the six-month period ended September 2025, Rentomojo posted a profit of Rs 61.3 crore on revenue of Rs 176.6 crore, further underlining its improving financial performance.

To manage the IPO process, Rentomojo has appointed Motilal Oswal Investment Advisors, Axis Capital, and IIFL Capital Services as merchant bankers.

Rentomojo’s IPO move reflects its intent to strengthen its balance sheet and accelerate growth in a rapidly expanding rental market. With solid financial performance and strong investor backing, the company is well positioned to capitalize on the rising demand for flexible and affordable home solutions in India.

Robotics startup Physical Intelligence eyes $1 Bn funding to scale AI ambitions

BRL Editor

March 28, 2026

Physical Intelligence, a two-year-old robotics startup based in San Francisco, is currently in discussions to raise approximately $1 billion in fresh funding at a valuation exceeding $11 billion. Notably, this potential deal would nearly double the company’s valuation from $5.6 billion in just four months, signaling strong investor confidence in its long-term vision.

Meanwhile, prominent investors are lining up to participate in the round. Founders Fund is expected to join the funding, while Lightspeed Venture Partners is also in talks to invest alongside existing backers Thrive Capital and Lux Capital. However, since the deal remains in its early stages, terms may evolve as discussions progress.

Earlier this year, during a visit to the company’s headquarters, co-founder Sergey Levine outlined the startup’s core ambition, stating, “Think of it like ChatGPT, but for robots.” At that time, Physical Intelligence had already raised over $1 billion and built a team of around 80 employees. The company actively develops general-purpose AI models that enable robots to perform a wide range of tasks, including folding laundry and peeling vegetables.

In addition, co-founder Lachy Groom emphasized the company’s unconventional approach to commercialization. He confirmed that Physical Intelligence is not operating on a fixed timeline to bring products to market—an approach that has not deterred investor interest. “There’s no limit to how much money we can really put to work,” Groom said. “There’s always more compute you can throw at the problem.”

As a result, Physical Intelligence continues to position itself at the forefront of next-generation robotics by focusing on scalable AI infrastructure rather than immediate revenue generation. This strategy reflects a broader trend in deep tech, where long-term innovation often takes precedence over short-term commercialization.

The company’s aggressive fundraising efforts and rapidly increasing valuation underscore the growing momentum in the AI-powered robotics sector. If the deal materializes as expected, Physical Intelligence could significantly accelerate the development of general-purpose robotic intelligence, potentially reshaping industries ranging from household automation to manufacturing in the years ahead.

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