Aerospace startup Aadyah Aerospace secures $3.3 Mn funding to drive expansion

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June 5, 2026

Aadyah Aerospace, an aerospace and defence technology startup, has secured Rs 31.5 crore (approximately $3.3 million) in a Series A funding round led by Helios Holdings. Angel investor Meenu Sharma also participated in the round, according to regulatory filings reviewed by sources.

To facilitate the fundraising, the company’s board approved the issuance of 30,92,176 Series A Compulsorily Convertible Preference Shares (CCPS) at an issue price of Rs 101.87 per share. Helios Holdings, represented by Suraj Nalin, invested Rs 30.5 crore, while Meenu Sharma contributed Rs 1 crore to the funding round.

According to estimates, the investment increased Aadyah Aerospace’s valuation by more than 26% to nearly Rs 206 crore (approximately $21.6 million). In comparison, the company was valued at Rs 163 crore during its previous pre-Series A funding round. Furthermore, the regulatory filings revealed that Aadyah Aerospace will use the newly raised capital to acquire a US-based company, strengthen its working capital position, and support broader business operations.

Founded in 2016 by former ISRO scientists and experienced aerospace professionals, Aadyah Aerospace focuses on designing and manufacturing mission-critical aerospace and defence systems. The company develops propulsion systems, avionics solutions, guidance and navigation technologies, as well as electro-mechanical actuators for space missions, launch vehicles, and defence applications.

With this latest investment, Aadyah Aerospace’s total funding has surpassed $8.4 million. The startup has previously attracted backing from investors including SiriusOne, Keiretsu Forum, and several angel investors, reflecting growing confidence in its technological capabilities and long-term growth prospects.

Financially, the company experienced mixed performance during FY25. Its operating revenue declined by 9% to Rs 14.12 crore from Rs 15.53 crore recorded in FY24. However, despite the revenue contraction, Aadyah Aerospace significantly improved its profitability. The company reported a profit of Rs 1.47 crore in FY25, reversing a loss of Rs 35 lakh posted during the previous financial year.

Meanwhile, investor interest in India’s rapidly expanding spacetech sector continues to accelerate. The ecosystem recently witnessed major funding activity, including Skyroot Aerospace attaining unicorn status after raising $60 million. Additionally, Xovian Aerospace secured $2 million in funding led by Ashish Kacholia, while SatLeo Labs raised $2.2 million in a seed funding round.

The latest investment in Aadyah Aerospace highlights the increasing momentum within India’s aerospace and defence technology sector. As global demand for advanced space technologies, launch systems, and defence solutions continues to grow, investors are actively supporting innovative startups that possess strong technological expertise and scalable business models.

Aadyah Aerospace’s successful Rs 31.5 crore Series A funding round marks a significant milestone in its growth journey. The fresh capital will not only support strategic expansion initiatives, including a planned US acquisition, but also strengthen the company’s position in the aerospace and defence technology market. With improved profitability, rising valuation, and increasing investor confidence in the Indian spacetech ecosystem, Aadyah Aerospace appears well-positioned to capitalize on emerging opportunities in both domestic and international markets.

Switch eyes multi-Billion Dollar fundraise at $50 Bn valuation ahead of potential IPO

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June 5, 2026

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Data centre developer Switch is reportedly negotiating a multi-billion-dollar fundraising round that could value the company at more than $50 billion, according to a report, which cited sources familiar with the discussions.

Several major investors, including Brookfield Asset Management, KKR, and other private equity and institutional investment firms, have engaged in discussions to participate in the funding round. As a result, the company could secure substantial capital to support its expansion plans and strengthen its position in the rapidly growing data centre industry.

Furthermore, the report indicated that the fundraising effort could pave the way for Switch to pursue an initial public offering (IPO), potentially as early as next year. The move would mark a significant milestone for the company as it seeks to capitalize on increasing investor interest in digital infrastructure and artificial intelligence-driven technologies.

According to the report, investment banking giants Goldman Sachs and JP Morgan are working closely with Switch to facilitate the fundraising process and attract potential investors.

Meanwhile, the data centre and server infrastructure sector continues to witness heightened dealmaking activity as businesses expand their artificial intelligence capabilities. Companies across the technology ecosystem increasingly require advanced computing infrastructure, which has significantly boosted demand for data centres and cloud-based services.

CEO Rob Roy founded Switch in 2000, and the company operates from its headquarters in Las Vegas, Nevada. Over the years, Switch has established itself as a key player in the digital infrastructure market by delivering large-scale data centre solutions to enterprise customers.

According to information available on the company’s website, Switch serves several prominent clients, including Nvidia, FedEx, Tesla, and Logitech. These partnerships further reinforce the company’s strong position within the technology and enterprise infrastructure landscape.

Switch’s reported fundraising discussions underscore the growing investor confidence in the global data centre industry, particularly as artificial intelligence adoption accelerates worldwide. With backing interest from major institutional investors and support from leading investment banks, the company appears well-positioned to expand its infrastructure footprint. If the fundraising round succeeds, Switch could strengthen its market leadership and potentially advance toward a highly anticipated IPO in the near future, making it a key company to watch in the evolving AI and digital infrastructure ecosystem.

Evoke Rambagh opens as one of Ayodhya’s largest hospitality developments

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June 4, 2026

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Eyak Ventures has launched Evoke Rambagh, a 25-acre hospitality destination near the Ram Janmabhoomi Temple in Ayodhya. The company will operate the property under its hospitality brand, Evoke Experiences, as it seeks to capitalize on the rapid growth of religious and spiritual tourism in the region.

Ayodhya has witnessed a significant increase in tourist arrivals following the construction of the Ram Janmabhoomi Temple and the extensive infrastructure development undertaken across the city. As a result, Evoke Rambagh aims to serve the growing influx of pilgrims, leisure travelers, and families seeking comfortable accommodation close to one of India’s most important religious landmarks.

Spread across 25 acres, Evoke Rambagh ranks among the largest resort properties in Ayodhya. The development incorporates multiple water bodies throughout the property, creating a serene and spacious environment for guests. The resort features 156 cottages designed to combine comfort, convenience, and modern hospitality standards.

Strategically located on Parikrama Marg, the property offers easy access to key transportation hubs, including Ayodhya Junction railway station and Maharishi Valmiki International Airport, enhancing connectivity for domestic and international visitors.

The resort offers a wide range of dining options designed to cater to diverse guest preferences. Guests can dine at an all-vegetarian restaurant that serves Satvik cuisine inspired by Indian, Oriental, and Continental culinary traditions. Additionally, the property features a lobby restaurant and room service facilities to provide greater convenience and flexibility.

Evoke Rambagh has also positioned itself as a venue for large-scale events and celebrations. The property includes a spacious banquet hall, landscaped gardens, a dedicated clubhouse, and activity zones that can accommodate weddings, family gatherings, corporate meetings, and social events. As Ayodhya increasingly attracts destination weddings alongside religious tourism, the resort aims to address the rising demand for premium event venues.

Furthermore, the property provides business-friendly facilities such as a business center, guest lounge, and various social and corporate infrastructure amenities, making it suitable for both leisure and professional travelers.

To enhance guest experiences, the resort offers a variety of wellness and recreational facilities. Visitors can access a swimming pool, wellness center, yoga sessions, meditation programs, and naturopathy treatments. These offerings align with the growing demand for wellness tourism and holistic travel experiences across India.

In addition, the resort provides concierge services, valet parking, golf-cart transportation, multilingual assistance, and wheelchair-accessible facilities, ensuring convenience and accessibility for all guests.

The property has equipped its operational infrastructure with backup power systems, air conditioning, high-speed internet connectivity, parking facilities, housekeeping services, and laundry support. Moreover, the management has implemented comprehensive safety measures, including CCTV surveillance, fire-safety equipment, and smoke detection systems to ensure a secure environment for visitors.

To simplify travel logistics, Evoke Rambagh operates shuttle services to the Ram Janmabhoomi Temple at scheduled intervals. The resort also offers airport and railway station transfer services on a paid basis, helping guests travel conveniently within the city.

Commenting on the launch, Krinal Thaker, Marketing & Experiences Head at Evoke Experiences (an initiative by Eyak Ventures), said, “The opening of Evoke Rambagh is in line with our commitment towards the development of Ayodhya as a key tourist and religious destination in India. The idea behind developing this hospitality asset was to provide accessible and comfortable accommodations.”

The launch reflects Eyak Ventures’ broader vision of supporting Ayodhya’s transformation into a major religious, cultural, and tourism hub. By combining modern hospitality amenities with wellness experiences and convenient access to spiritual landmarks, Evoke Rambagh seeks to strengthen the city’s tourism infrastructure while catering to the evolving needs of contemporary travelers.

The launch of Evoke Rambagh marks a significant addition to Ayodhya’s rapidly expanding hospitality landscape. With its strategic location near the Ram Janmabhoomi Temple, extensive accommodation capacity, wellness offerings, and event facilities, the resort is well-positioned to serve pilgrims, leisure travelers, and destination wedding guests. As Ayodhya continues to emerge as one of India’s leading spiritual and tourism destinations, developments such as Evoke Rambagh are expected to play a crucial role in enhancing visitor experiences and supporting the city’s long-term tourism growth.

Kuku Technologies files confidentially for IPO, targets ₹15,000-Cr valuation

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June 4, 2026

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Kuku Technologies files confidentially for IPO, targets ₹15,000-Cr valuation — Vikas Goyal, Vinod Kumar Meena, and Lal Chand Bisu, co-founders, Kuku FM

Digital entertainment startup Kuku Technologies has confidentially filed for an initial public offering (IPO) and plans to raise between ₹2,500 crore and ₹3,500 crore ($260 million to $360 million). According to people familiar with the matter, the company is targeting a valuation of approximately ₹15,000 crore ($1.8 billion), signaling one of the most significant upcoming public offerings in India’s digital entertainment sector.

The planned IPO comes as microdramas—short, serialized video stories lasting one to two minutes and optimized for mobile consumption—continue to gain rapid traction among Indian audiences. The growing popularity of bite-sized entertainment content has created a favorable environment for digital content platforms such as Kuku.

Driven by this trend, Kuku Technologies has delivered exceptional financial growth. According to information accessed by sources, the company’s revenue surged nearly sevenfold to more than ₹1,400 crore in FY26, compared with ₹240 crore in FY25. Additionally, the startup has moved close to breakeven after reporting a loss of ₹153 crore in FY25, primarily due to aggressive advertising and customer acquisition investments.

Earlier, it was reported in October 2025 that Kuku had appointed four investment banks—Kotak Mahindra Capital, Jefferies, JM Financial, and Axis Capital—to manage its public offering. The IPO is expected to include both a fresh issue of shares and an offer-for-sale (OFS) component. However, the company declined to comment on the development.

Founded in 2018 by Lal Chand Bisu, Vikas Goyal, and Vinod Meena, Kuku Technologies was last valued at $500 million following an $85 million funding round in October 2025. That valuation represented nearly a threefold increase from the company’s $177 million valuation recorded in September 2023.

To date, the startup has secured a total of $158 million in funding from prominent investors, including Granite Asia, Fundamentum, India Quotient, 3one4 Capital, and Vertex Ventures. Other notable backers include Krafton, International Finance Corporation, Paramark, Tribe Capital India, Bitkraft, and former Indian cricket captain Mahendra Singh Dhoni.

Headquartered in Bengaluru, Kuku operates several digital platforms across entertainment and education segments. Its portfolio includes subscription-based microdrama platform Kuku TV, audio storytelling platform Kuku FM, and microlearning platform Guru. Additionally, the company operates Filmy, a curated movie-content platform, and FreeDrama, a free-to-access microdrama application.

The startup claims to have surpassed 400 million app installs across its ecosystem and currently serves more than 10 million subscribers. Furthermore, its content library spans over 60,000 hours across seven to eight Indian languages, strengthening its position in the regional content market. At the same time, Kuku is preparing to expand internationally, with developed markets such as the United States emerging as key targets.

Beyond digital content, Kuku has also entered film production. The company recently released its first Hindi feature film, Indian Institute of Zombies, on May 15, 2026, marking its entry into mainstream entertainment production.

Artificial intelligence remains central to Kuku’s long-term growth strategy. The company is leveraging AI to streamline content creation and lower production costs across the entire value chain, including ideation, scriptwriting, production, distribution, and audience engagement.

Currently, Kuku releases hundreds of microdramas every month across multiple genres. However, the company plans to significantly scale its output and ultimately produce 1,000 microdramas monthly. In February 2026, Kuku introduced its first slate of AI-powered original microdramas featuring genres such as mythological fantasy, futuristic fiction, and superhero storytelling.

Kuku’s decision to pursue a public listing also reflects improving investor sentiment toward new-age technology companies. Public market investors have increasingly demonstrated a willingness to back high-growth startups with strong future potential, particularly those operating in emerging sectors such as digital entertainment, artificial intelligence, creator economy platforms, and mobile-first content consumption.

As India’s digital media landscape continues to evolve, Kuku Technologies has positioned itself at the intersection of AI-driven content creation, short-form entertainment, and multilingual storytelling. The proposed IPO could provide the company with the capital needed to accelerate international expansion, strengthen its technology infrastructure, and solidify its leadership position in the rapidly growing microdrama and digital content market.

With revenue crossing ₹1,400 crore, a rapidly expanding subscriber base, strong investor backing, and a growing focus on AI-powered content creation, the company is entering the public markets from a position of strength. As demand for short-form entertainment and multilingual digital content continues to surge, Kuku appears well-positioned to capitalize on emerging opportunities both in India and global markets.

Lovable expands Google Cloud partnership in major multiyear AI collaboration

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June 4, 2026

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Lovable expands Google Cloud partnership in major multiyear AI collaboration — Anton Osika, CEO, Lovable

AI-powered coding startup Lovable and Google have announced an expanded multiyear partnership that significantly strengthens their existing relationship. The Stockholm-based startup has relied on Google Cloud since its early growth phase, and under the new agreement, it will substantially increase its use of Google’s cloud infrastructure and artificial intelligence services.

Although the companies did not disclose the financial details of the partnership, a source familiar with the agreement said that the deal includes a fivefold expansion of Lovable’s Google Cloud footprint, including a significant increase in AI-related usage. As part of the collaboration, Lovable will also gain broader access to both Anthropic’s Claude models, which developers widely use for coding tasks, and Google’s Gemini family of AI models.

The Anthropic component of the agreement carries particular significance given Google’s growing investment in the AI company. In April, Google invested $10 billion in Anthropic through a combination of cash and compute credits. The technology giant also committed an additional $30 billion contingent upon Anthropic achieving specific performance milestones.

Google completed the investment at a valuation of approximately $350 billion. However, just one month later, Anthropic secured a massive $65 billion funding round that pushed its valuation close to $1 trillion. Consequently, the expanded partnership with Lovable could contribute toward Anthropic meeting those performance targets, as Lovable has emerged as one of Europe’s fastest-growing startups.

According to the company, Lovable surpassed $400 million in annualized revenue in February after adding $100 million in revenue within a single month. Remarkably, the company achieved this growth with a workforce of only 146 employees. Furthermore, Lovable claims that more than half of Fortune 500 companies use its platform in some capacity.

The new agreement also connects Lovable more deeply with Google’s broader enterprise ecosystem. Under the partnership, Lovable’s latest AI agent will become available through Google Cloud’s enterprise agent marketplace, the Gemini Enterprise Agent Gallery. Google and Lovable initially signaled this collaboration during Google’s major cloud conference in the United States earlier this year.

In addition, Lovable will integrate with Wiz, Google’s largest acquisition to date. Google completed the $32 billion acquisition of Wiz in March, approximately one year after announcing the deal. Through this integration, Wiz will help identify and remediate security vulnerabilities in real time across code generated by both human developers and AI agents.

Google believes that distributing Lovable’s AI agents through its marketplace will simplify enterprise procurement and billing processes. As a result, enterprise customers will gain easier access to Lovable’s solutions, potentially accelerating the startup’s customer acquisition efforts and strengthening its position in the enterprise AI market.

For Google, the strategic rationale behind the partnership remains straightforward. By supporting the continued growth of both Lovable and Anthropic while attracting enterprise customers with substantial technology budgets, Google can generate additional cloud revenue. This revenue becomes increasingly important as the company plans to invest between $180 billion and $190 billion in capital expenditures during the current year.

To help finance these ambitious investments, Google is already pursuing a record-breaking $85 billion equity sale. Nevertheless, the company still faces the challenge of securing substantial additional funding to support its long-term artificial intelligence, cloud computing, and infrastructure expansion strategies.

As competition intensifies across the global AI ecosystem, Google’s expanded collaboration with Lovable demonstrates how major technology companies are increasingly partnering with high-growth AI startups to drive enterprise adoption, strengthen cloud revenues, and accelerate innovation. Simultaneously, the partnership provides Lovable with access to advanced AI models, enterprise distribution channels, and enhanced security capabilities, positioning the company for continued rapid growth in the evolving artificial intelligence market.

The expanded partnership between Lovable and Google marks a significant milestone in the rapidly evolving AI and cloud computing landscape. By increasing its Google Cloud usage, gaining broader access to Claude and Gemini models, and integrating with Wiz, Lovable is strengthening its ability to serve enterprise customers at scale. Meanwhile, Google continues to reinforce its AI ecosystem by supporting high-growth startups that can drive cloud adoption and enterprise AI deployment. As both companies pursue aggressive growth strategies, this collaboration highlights the increasing importance of strategic alliances in shaping the future of artificial intelligence and enterprise technology.

Summit Hotels launches The Mandir Collection to tap India’s booming spiritual tourism market

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June 4, 2026

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Summit Hotels launches The Mandir Collection to tap India’s booming spiritual tourism market — Sumit Mitruka, CEO of Summit Hotels & Resorts

India’s growing spiritual tourism sector has prompted Summit Hotels & Resorts to launch The Mandir Collection, a new hospitality brand dedicated to pilgrimage destinations and travel experiences centered on spirituality, culture, wellness, and heritage.

The company introduced the brand in response to rising demand for faith-based tourism across the country. Improved transportation networks, expanding tourism infrastructure, and increasing interest in wellness-focused travel have significantly strengthened the spiritual tourism ecosystem in India.

As part of this initiative, Summit Hotels & Resorts has selected Salasar, one of Rajasthan’s most prominent pilgrimage destinations, for the debut property under the new brand. The upcoming Summit Salasar – The Mandir Collection will cater to devotees, families, wellness seekers, and group travelers looking for meaningful spiritual experiences combined with modern hospitality.

The planned property will feature approximately 70 rooms and villas, including private pool villas. Additionally, the hotel will offer a range of amenities designed to enhance the pilgrimage experience. These include a Satvik dining venue, temple assistance services, wellness programs, devotional evening activities, banquet facilities, outdoor event spaces, and seamless access to the renowned Salasar Balaji Temple.

Commenting on the development, Sumit Mitruka, CEO of Summit Hotels & Resorts, highlighted the growing significance of spiritual tourism within India’s travel and hospitality industry.

He said spiritual travel continues to emerge as a major tourism segment as travelers increasingly combine religious journeys with wellness experiences, cultural exploration, and personal growth opportunities.

Furthermore, he noted that The Mandir Collection seeks to deliver authentic hospitality experiences that reflect the unique traditions, culture, and character of each destination while maintaining the comfort, convenience, and service standards expected by contemporary travelers.

Following the launch in Salasar, Summit Hotels & Resorts intends to expand The Mandir Collection across key pilgrimage circuits and faith-oriented destinations throughout India. The company is currently assessing opportunities in major spiritual hubs such as Haridwar and Ayodhya, along with several other destinations witnessing increasing spiritual tourism activity.

Founded in 2009, Summit Hotels & Resorts currently operates more than 30 hotels and resorts across over 17 destinations nationwide. Over the years, the hospitality group has built a strong presence in hill stations and leisure markets across eastern India. Now, through The Mandir Collection, the company is diversifying its portfolio by entering temple towns and emerging religious tourism destinations.

The hospitality group also contributes significantly to local employment generation, with a workforce of more than 1,000 employees, many of whom come from nearby communities. This approach supports regional economic development while strengthening local participation in the tourism sector.

Looking ahead, Summit Hotels & Resorts aims to expand its portfolio to 50 properties by 2030. The company also plans to introduce additional specialized hospitality brands and enhance direct customer engagement through its digital booking platforms, further strengthening its position in India’s evolving hospitality landscape.

With its first project in Salasar and expansion plans targeting major pilgrimage destinations such as Haridwar and Ayodhya, Summit Hotels is positioning itself to capitalize on one of the fastest-growing trends in India’s tourism and hospitality industry.

Grocery delivery startup FirstClub raises $55 Mn in Series B funding, valuation surges to $255 Mn

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June 4, 2026

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Grocery delivery startup FirstClub raises $55 Mn in Series B funding, valuation surges to $255 Mn — Ayyappan R, Founder, FirstClub

Former Flipkart executive Ayyappan R-founded grocery delivery startup FirstClub has secured $55 million in a Series B funding round led by Peak XV Partners and Sofina. The investment has more than doubled the startup’s valuation within just one year of its launch, highlighting growing investor confidence in the company’s quality-focused business model.

The funding round values FirstClub at approximately $255 million, founder and chief executive Ayyappan R said. Additionally, existing investors Accel, RTP Global, and Paramark Ventures participated in the round, reinforcing their commitment to the rapidly growing grocery delivery platform.

FirstClub will deploy the newly raised capital to expand into additional cities, strengthen its supply chain infrastructure, enhance its technology capabilities, and diversify into new product categories, including beauty and personal care, home essentials, and pet care.

Unlike many quick-commerce companies that prioritize extensive product assortments, deep discounts, and ultra-fast deliveries, FirstClub has adopted a fundamentally different strategy. Ayyappan emphasized that the company intentionally built its business around quality, trust, and value.

“From day one, we were clear that we were building the antithesis of what retail has typically stood for: massive selection, lowest prices, and fastest delivery. We wanted to build a brand known for trust, quality, and value,” he said.

Currently, FirstClub operates 24 dark stores, which the company refers to as clubhouses. These include 21 locations in Bengaluru and three in Hyderabad. According to Ayyappan, the startup already serves nearly 85% of high-demand pin codes in Bengaluru. Consequently, the company plans to deepen its presence in the city while simultaneously expanding its Hyderabad operations. Moreover, it is evaluating entry into a third city within the next 30 to 60 days.

“We will continue to scale Bengaluru itself. There is still a lot of headroom for us to grow in there,” he said.

Although FirstClub does not publicly disclose its order volumes or gross merchandise value (GMV), Ayyappan revealed that the company has been doubling its order volumes every three months. Furthermore, its gross average order value currently stands at approximately Rs 1,200, which is about 2.5 times higher than the industry average.

“Our higher order value is not because our products are more expensive. It is because customers are ordering 10-11 items in a basket, compared with around four on other platforms,” he said.

Ayyappan also challenged the perception that FirstClub operates as a premium grocery platform. Instead, he stressed that the company’s core focus remains product quality rather than exclusivity.

“It is a misconception that this is a premium play. It is a play on high quality, which need not be accessible only to certain consumers,” he said.

To reinforce its quality-first positioning, FirstClub has prohibited more than 200 ingredients across its platform, including artificial preservatives, artificial colours, growth hormones, and antibiotics. Additionally, the startup conducts laboratory testing and implements stringent quality-control measures such as Brix testing for fruits before listing products on its app.

The company has also deliberately pursued a slower city-expansion strategy compared with many quick-commerce competitors. According to Ayyappan, maintaining strict control over sourcing, product testing, and supply chain quality remains essential to preserving FirstClub’s brand promise.

“To establish a quality-led supply chain takes more time. If we dilute that, there is no difference between us and others,” he said.

At the same time, FirstClub continues to build strong unit economics into its operating model. The company achieves this through a focused product assortment with fewer stock-keeping units (SKUs), higher minimum order thresholds, larger basket sizes, and efficient order batching.

“You should not figure out after five or 10 years how to build a sustainable business. It should be part of how you build from day one,” Ayyappan said.

As India’s quick-commerce and grocery delivery market becomes increasingly competitive, FirstClub continues to differentiate itself through its quality-first strategy, disciplined expansion approach, and sustainable business model. With fresh funding from leading investors and ambitious plans for geographic and category expansion, the startup is positioning itself as a significant player in the evolving Indian retail and grocery ecosystem.

FirstClub’s latest $55 million Series B funding round marks a major milestone in its growth journey. By prioritizing quality, trust, and long-term sustainability over rapid expansion and discount-driven growth, the startup has carved out a unique position in India’s fast-growing grocery delivery market. Backed by strong investor confidence and a clear expansion roadmap, FirstClub appears well-equipped to accelerate its growth while maintaining its commitment to delivering high-quality products and superior customer experiences.

T-Hub and Honda select four startups for first mobility accelerator program

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June 3, 2026

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T-Hub and Honda select four startups for first mobility accelerator program — Kavikrut, CEO of T-Hub

Startup incubator T-Hub has partnered with Honda Digital Innovation India (HDII) to launch its inaugural mobility accelerator program and has selected four promising startups to participate in the initiative. The program aims to support emerging innovators developing next-generation mobility solutions through funding, mentorship, and industry collaboration.

The selected startups—Xane AI, Attento Technologies, AppTestify, and SenSight Technologies—stood out from a competitive pool of more than 300 applications received from India and international markets. The selection process focused on identifying startups with the potential to create impactful mobility technologies and scalable business solutions.

As part of the accelerator, each startup will receive funding of up to ₹10 lakh. In addition, the companies will work closely with Honda’s engineering and business teams during a 12-week development sprint designed to transform innovative concepts into viable products and market-ready solutions.

The accelerator provides participating startups with direct access to Honda’s technical expertise, business insights, and innovation ecosystem. Through this collaboration, founders will gain valuable opportunities to validate their technologies, refine their products, and accelerate commercialization efforts.

Kavikrut, CEO of T-Hub, highlighted the advantages of the program for participating startups. He noted that the selected companies will receive operational insights, access to testing environments, and deployment support, all of which are essential for accelerating product development and reducing go-to-market timelines.

The initiative reflects the increasing collaboration between large corporations and startups within India’s rapidly evolving innovation ecosystem. Established companies are actively partnering with startups to gain access to emerging technologies, while startups benefit from industry expertise, infrastructure, funding, and market access.

As advancements in artificial intelligence, automation, connected mobility, and smart transportation continue to reshape the mobility sector, accelerator programs such as this play an important role in fostering innovation and supporting entrepreneurship.

The first cohort of the T-Hub-Honda mobility accelerator demonstrates a shared commitment to nurturing breakthrough technologies and helping startups address real-world mobility challenges. By combining startup agility with corporate resources and industry experience, the program aims to contribute to the development of innovative mobility solutions for future markets.

The T-Hub and Honda Digital Innovation India mobility accelerator represents a significant step toward strengthening India’s mobility innovation ecosystem. Through funding, mentorship, testing infrastructure, and direct collaboration with industry experts, the program provides startups with the resources needed to scale their solutions. As corporate-startup partnerships continue to grow, initiatives like this are expected to accelerate technological innovation and drive the future of mobility in India.

Proptech startup Propsoch raises $2 Mn to expand real estate advisory platform

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June 3, 2026

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Proptech startup Propsoch raises $2 Mn to expand real estate advisory platform — Ashish Acharya and Ravi Agrawal, co-founders, Propsoch

Bengaluru-based proptech startup Propsoch has raised $2 million (approximately ₹19.1 crore) in a seed funding round led by Athera Venture Partners, Sparrow Capital, and Vakil Group. The company plans to use the fresh capital to accelerate market expansion, strengthen its team, and enhance its research and advisory capabilities.

The funding marks an important milestone for the startup as it seeks to expand beyond its home market and strengthen its position in India’s rapidly growing proptech sector.

“This funding round helps us deepen our roots in our home market while we expand our footprint into Mumbai,” cofounder and CEO Ashish Acharya said.

Founded in 2022 by Ashish Acharya and Ravi Agrawal, Propsoch operates a real estate advisory platform that assists homebuyers throughout their property purchase journey. The startup provides end-to-end support, helping customers identify properties, evaluate options, shortlist suitable projects, and negotiate the best possible deals.

Propsoch differentiates itself through its combination of artificial intelligence-driven research and expert architectural due diligence. The platform evaluates properties using more than 80 critical parameters, including builder credibility, construction quality, project efficiency, legal considerations, and future appreciation potential.

Since its launch, the startup has onboarded more than 500 residential projects across Bengaluru and established partnerships with over 210 builders. The company has also built a strong customer base by helping families make informed property-buying decisions.

“After successfully advising 1,500+ families in Bengaluru, we are now scaling our ability to service 10,000+ homebuyers this year,” Acharya added.

Before the current funding round, Propsoch raised $600,000 in a pre-seed investment round backed by the family offices of the Godrej Group and Vakil Group. The latest investment provides additional resources to accelerate growth and expand operations into new markets.

The development comes as India’s proptech sector continues to gain momentum amid rising consumer interest in property ownership and increasing demand for technology-enabled real estate solutions. Homebuyers are increasingly seeking data-driven insights, transparency, and personalized guidance when making significant investment decisions.

Investor confidence in the segment has also strengthened in recent months. Since the beginning of the year, investors have backed several proptech startups, including PropertyPistol, Truva, and Flent, to support their expansion strategies and capitalize on growing market opportunities.

Industry estimates suggest that India’s proptech ecosystem could evolve into a $3.8 billion market opportunity by 2030. As technology adoption accelerates across the real estate sector, startups that offer research-backed advisory services and digital solutions are expected to play a critical role in transforming the homebuying experience.

With fresh funding, a growing partner network, and plans to enter Mumbai, Propsoch is positioning itself to capture a larger share of India’s expanding proptech market while helping more homebuyers make informed and confident property decisions.

Ritesh Agarwal-led Oyo targets Rs 60,000-Cr valuation with fresh IPO plans

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June 3, 2026

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Hospitality technology company Oyo, operated by parent company Prism, has reportedly secured approval from the Securities and Exchange Board of India (Sebi) for its proposed initial public offering (IPO). According to sources, the company plans to raise Rs 6,650 crore through the fresh issue and is expected to submit its updated draft red herring prospectus (DRHP) within the next six to eight weeks.

The development marks a significant step forward in Oyo’s long-awaited public listing journey. The Gurugram-based company confidentially filed its draft IPO documents in December, making this its third attempt to enter the public markets.

Sebi had earlier returned Oyo’s first IPO application in 2021 and asked the company to refile the proposal with updated financial information. Subsequently, Oyo submitted a revised application for a substantially smaller public issue. While the company initially planned a $1.2 billion IPO, its latest confidential filing reportedly proposes an issue that is 40% to 60% smaller.

In 2024, Oyo withdrew its previous draft prospectus and chose to raise private capital instead of proceeding with the public offering. The company now aims to capitalize on improved financial performance and favorable market conditions as it revives its listing plans.

According to sources, Oyo is targeting a valuation of approximately Rs 50,000 crore to Rs 60,000 crore ($5 billion to $7 billion) through the IPO. However, the final valuation will depend on prevailing market conditions and investor sentiment at the time of listing.

The proposed valuation represents a notable improvement from the company’s most recent fundraising round. In 2024, Oyo raised capital at a valuation of approximately $2.3 billion, significantly lower than its peak valuation of $9 billion achieved during a 2021 funding round led by Microsoft.

The company has also demonstrated strong financial improvement. During the April-June 2025 quarter, Oyo reported a net profit exceeding Rs 200 crore. According to an email sent by founder and chief executive Ritesh Agarwal to the company’s management committee and shareholders, the hospitality firm more than doubled its profit from Rs 87 crore reported during the corresponding quarter of the previous fiscal year.

Beyond profitability, Oyo has continued to expand its global footprint through strategic acquisitions. In 2024, the company acquired G6 Hospitality, the operator of the Motel 6 chain in the United States, in a deal valued at $525 million. The acquisition strengthened Oyo’s presence in the North American hospitality market and aligned with its broader international growth strategy.

The combination of improving profitability, global expansion, and renewed investor confidence appears to have strengthened Oyo’s position ahead of its anticipated stock market debut. As the company prepares its updated filing, investors will closely monitor its financial performance, valuation expectations, and future growth plans.

Supported by stronger financial results, strategic international acquisitions, and a more disciplined growth approach, the company is positioning itself for a successful market debut. If market conditions remain favorable, the IPO could become one of the most closely watched public offerings in India’s hospitality and technology sectors.

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