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Frinks AI secures $5.4M in funding round led by Prime Venture Partners

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Frinks AI has secured $5.4 million in a new funding round led by Prime Venture Partners. The round also included contributions from returning investor Chiratae Ventures, Navam Capital, and Ashok Atluri, the founder of Zen Technologies.

This round takes the total funding raised by Frinks AI to $6.25 million.

IIT Hyderabad alumni Aditya Agrawal, Dharmgya Sharma, and Subhra S Bhattacherjee founded the deep-tech startup Frinks AI. The company develops advanced vision-based artificial intelligence (AI) systems designed for industrial automation and quality control.

Frinks AI’s advisory board includes notable industry leaders such as former Tata Consultancy Services MD and CEO S Ramadorai, former Tata Motors executive director V Sumantran, Professor Tarun Ramadorai from Imperial College London, and former Tata Sons Group CTO Gopichand Katragadda.

Frinks AI plans to utilize the funds to expand its platform globally, boost investment in research and development, and strengthen its foothold in the crucial US market. To drive faster growth, the company is also actively seeking partnerships with automation firms and original equipment manufacturers (OEMs) for collaborative go-to-market efforts.

“Visual inspection in manufacturing has been around for 50 years, but owing to a rule-based approach, its applicability has been limited to less than 15% scenarios typical on the assembly line. Frinks has leveraged advancements in image processing, AI compute to develop manufacturing-specific machine vision models. By combining foundational models with in-house fine-tuning using a small set of images, Frinks is able to guarantee 99.99% accuracy to its customers. It is our pleasure to partner with Aditya, Dharmagya and Subhra in expanding this 10x product to India as well as taking it global,” said Brij Bhushan, partner at Prime Venture Partners.

Frinks AI’s successful funding round marks a significant milestone in its journey to revolutionize industrial automation through advanced AI technologies.

Flipkart to hire 5,000 in 2025 focused on quick commerce, AI & fintech

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Flipkart is preparing for a major scale-up across key business segments and plans to hire 5,000 new employees in 2025. The Walmart-owned e-commerce giant unveiled its hiring plans during Flipster Connect, an internal town hall held on May 26, as it intensifies efforts in hyperlocal delivery, fintech, and artificial intelligence (AI).

A significant portion of these new roles will support Flipkart Minutes, the company’s quick commerce initiative, and Super.money, its fintech venture.

This recruitment drive aligns with the company’s broader growth strategy, which includes a potential IPO and the relocation of its legal headquarters from Singapore to India. Senior leaders such as Seema Nair (SVP and CHRO), Hemant Badri (SVP and Head of Supply Chain), and Ramesh Gururaja (SVP, Consumer Shopping Experience) also participated in the town hall. Nair emphasized the company’s evolving talent approach, highlighting investments in upskilling, AI integration, and preparing teams to align with Flipkart’s long-term goals.

At the event, Group CEO Kalyan Krishnamurthy revealed that customers and orders on Flipkart are growing at a rate of 20–25%, and the company aims to reach 30% growth by June. He credited a significant portion of this growth to the fashion category on Flipkart and Myntra, which now drives nearly 40% of the platform’s new customer acquisitions.

“Minutes is doing very well, and we’re targeting 800 dark stores by the end of the year,” Krishnamurthy said, positioning the service as central to Flipkart’s ambitions in India’s booming quick commerce space. With two dark stores being added each day, the company is racing to compete with Blinkit, Zepto, and Swiggy Instamart in the high-demand segment of groceries and essentials.

Krishnamurthy noted that Flipkart’s grocery division has undergone operational enhancements to better align with the fast-paced demands of quick commerce. Additionally, he highlighted travel as a rising high-growth category, driven by increased interest in hotels, international travel, and holiday packages—especially among India’s nearly 400 million Gen Z consumers.

The company is also making an aggressive play in technology, with AI investments increasing sixfold this year. “We remain committed to being future-ready,” Krishnamurthy said, framing AI as a critical pillar of Flipkart’s next phase of growth.

Another key update from the town hall was Flipkart’s decision to relocate its legal headquarters to India—a move that CEO Kalyan Krishnamurthy called “a statement of intent” and a strategic effort to better align with India’s economic and regulatory landscape.

Krishnamurthy also highlighted the strong momentum of Flipkart’s fintech platform, Super.money, along with successful product rollouts and the onboarding of seasoned leaders across tech, categories, and Adtech—all aimed at driving the company’s next phase of growth. However, Flipkart is pursuing this ambitious expansion while enforcing tightened financial controls.

According to a report, Flipkart’s board has directed Krishnamurthy to reduce the company’s monthly cash burn from $40 million (₹340 crore) to $20 million (₹170 crore), with an annual cap of $250 million. This cost discipline comes as Flipkart doubles down on high-growth verticals.

Meanwhile, the company has seen several senior leadership exits in recent months, including Ankit Jain (SVP, grocery and supply chain), Prajakta Kanaglekar (VP, HR), Anurag Singhvi (VP, analytics), and Ganesh Ramaswamy (CPTO, Cleartrip).

Flipkart’s aggressive push into quick commerce, AI, and fintech—coupled with a major hiring spree and strategic initiatives like shifting its legal base to India—signals its intent to solidify market leadership ahead of a potential IPO.

Sumadhura Group enters managed offices, plans 1M sq. ft. lease

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Sumadhura Group, a leading real estate developer, has entered the managed office space (MOS) sector by launching its premium workspace brand, Workship, in Bengaluru.

Located strategically within Capitol Towers, Sumadhura’s flagship commercial property in Whitefield, Bengaluru, Workship spans over 122,000 square feet and, moreover, provides more than 3,000 workstations.

With rising demand for flexible workspaces across industries like IT & ITeS, Global Capability Centers (GCCs), pharmaceuticals, agri-tech, BFSI, and manufacturing, Sumadhura plans to grow substantially. The company aims to lease more than 1 million square feet of managed office space and add over 10,000 seats within the next three years, establishing itself as a major player in India’s dynamic workspace market.

Tenants completely leased the initial phase of Workship, which features over 50,000 square feet and 1,500 seats, within just three months of its launch. Furthermore, early tenants included companies from the IT, pharmaceutical, and agri-tech sectors, clearly highlighting strong demand in the market.

Encouraged by this success, Sumadhura has announced plans to add another 1,500 seats within the Capitol Towers complex, with completion expected by August 2025. This swift expansion underscores both market confidence and Workship’s rising status as a premium managed workspace provider.

Madhusudhan G, Chairman & Managing Director, Sumadhura Group, said, “India is witnessing a significant shift in how workspaces are perceived and utilized, with a growing demand for high-quality, flexible, and premium managed office spaces. Bengaluru and Hyderabad are leading this transformation.”

He added that the strong demand from sectors like IT/ITeS, agri-tech, and pharmaceuticals reinforces their conviction that premium managed office spaces—supported by robust real estate expertise and comprehensive operational management—are the future of work in India. “Our goal of reaching one million square feet of managed office space over the next three years reflects our confidence in this growth trajectory. Looking ahead, we plan to expand Workship in Hyderabad by 2027, recognizing its growing prominence as a key GCC hub and a high-potential premium office space market.”

Sumadhura Group aims to redefine the managed office space experience through Workship by blending its expertise in real estate development with a hospitality-driven approach to workspace management.

Having completed over 54 projects totaling more than 13 million square feet, the group currently has an additional 40 million square feet underway. Beyond residential projects, Sumadhura has expanded its portfolio to include commercial properties, warehousing, co-living spaces, and various other real estate segments.

IHCL announces signing of Gateway hotel in Nathdwara, Rajasthan

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Indian Hotels Company (IHCL) has signed a new Gateway hotel in Nathdwara, further strengthening its presence in Rajasthan’s culturally vibrant landscape. With this addition, IHCL now has 31 properties in the state, including eight currently under development.

Set across more than six acres, the upcoming 101-room Gateway hotel Nathdwara will provide a serene escape amid the picturesque Aravalli Hills. Designed to combine contemporary amenities with traditional aesthetics, the hotel will cater to both spiritual pilgrims and leisure travelers.

Suma Venkatesh, Executive Vice President – Real Estate & Development, IHCL, said, “Nathdwara offers a unique blend of spirituality, culture, and scenic beauty, making it an ideal destination for pilgrims and tourists. This signing is in line with IHCL’s strategy to expand in key spiritual hubs. We are delighted to partner with Madan Singh Chauhan for this project.”

Guests at the upcoming Gateway Nathdwara will enjoy diverse culinary offerings, including an all-day dining restaurant and a specialty venue showcasing regional flavors. The hotel will also boast expansive event spaces, featuring over 8,000 sq. ft. of indoor facilities and a 10,000 sq. ft. outdoor lawn—ideal for weddings, celebrations, and corporate events. Additional amenities will include a swimming pool and a fully equipped fitness center.

Renowned for its spiritual significance and the iconic Shrinathji Temple, Nathdwara also draws visitors with its rich art, handicrafts, and signature Rajasthani hospitality. With this new signing, IHCL aims to elevate the travel experience in this prominent pilgrimage hub by offering a harmonious blend of peace and cultural richness.

This addition underscores IHCL’s strategic focus on expanding its footprint in India’s key tourism and pilgrimage destinations.

Fashion startup Slikk raises $10M to boost 60-Minute fashion delivery

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Slikk, a quick commerce fashion startup based in Bengaluru, has secured $10 million in Series A funding. The all-equity round was led by Nexus Venture Partners, with continued support from existing investor Lightspeed.

Slikk will use the fresh capital to broaden its product offerings and expand into new markets, reinforcing its commitment to 60-minute fashion delivery.

The new funding will enable the fashion startup to expand into related lifestyle segments like beauty and personal care (BPC), footwear, accessories, and wearables — categories the company sees as prime for quick-commerce transformation.

Slikk will introduce instant returns to minimize online shopping friction and build stronger customer trust. The investment will further support the fashion startup’s logistics growth in major urban areas, along with upgrades to its warehouse and dark store infrastructure, and technological advancements to boost personalization, product discovery, and delivery speed.

According to co-founder and CEO Akshay Gulati, the funding round will allow Slikk to offer a “wider range of products and experiences” while helping partner brands connect with hyperlocal consumers.

Slikk’s approach combines curated fashion with a Try & Buy option and instant refunds — consequently, offering a service tailored for digitally native Gen Z and young millennial shoppers who, similarly, expect the same rapid delivery experience in fashion as they do in food and groceries.

Slikk is currently active in Bangalore, where it delivers fashion and accessories within 60 minutes. Its core user base includes college students, young professionals, and socially engaged urban shoppers influenced by digital trends.

The latest funding round reflects rising investor interest in category-specific quick commerce, as attention shifts from essentials and food & beverage to higher-margin segments like fashion and beauty.

In March 2025, Slikk raised $3.2 million in seed funding, led by Lightspeed. That round also included backing from Multiply Ventures, existing investors, and notable angel investors such as Abhishek Goyal (Tracxn), Abhinav Pathak (Perpule), Madhav Tandan, Nikhil (Panthera), and Saurabh Gupta (DST Global). Earlier, in September 2024, the company had secured $300,000 in a pre-seed round led by Better Capital.

“Having watched quick commerce reshape India’s consumer behavior, we believe fashion is the next frontier,” said Pratik Poddar, Partner at Nexus Venture Partners. “The Slikk team’s strategic execution and deep category understanding are well-suited to lead this shift.”

Lightspeed, which had invested in Slikk at the seed stage, has doubled down in this round. “The team built a product that resonates with its customers, reflected in strong retention and engagement,” said Rahul Taneja, Partner at Lightspeed.

Slikk’s move into beauty and accessories places it in direct competition with both established fashion e-commerce platforms and newer quick-delivery startups. The brand is strategically positioning itself to meet the intersection of convenience and trend-led demand, bringing together fashion, speed, and user experience.

Industry forecasts project that India’s apparel market will reach $109 billion in 2025, while the beauty and personal care (BPC) segment will exceed $34 billion. Within these rapidly growing sectors, Slikk aims to establish a distinct presence by tapping into the rising demand for hyperlocal fulfillment and instant consumption.

Akshay Gulati (formerly with Delhivery and Nearbuy), Om Prakash Swami (CTO), and Bipin Singh (CPO) founded the startup, bringing deep experience in building consumer technology and logistics-driven platforms.

Nazara Technologies reports surge in Q4 revenue, net profit at ₹4-Cr

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Nazara Technologies, the online gaming company based in Mumbai, reported a 95% year-on-year increase in operating revenue, reaching ₹520.2 crore in Q4 FY25, despite a rise in total expenses driven by higher marketing and employee-related costs.

The company posted a net profit of ₹4 crore for the quarter ended March 31, a significant jump from ₹0.18 crore recorded in the same quarter last year.

Nazara Technologies’ total expenses surged 85% year-on-year to ₹527.7 crore in Q4 FY25, primarily driven by a more than threefold jump in advertising and promotional costs, which rose to ₹151.03 crore. Additionally, employee benefit expenses increased sharply by 80.7%, reaching ₹79.9 crore.

The company’s esports segment continued to lead in revenue contribution, recording a 47% YoY growth during the quarter. Meanwhile, the gaming division posted a strong 72% revenue increase to ₹156.4 crore, and the adtech segment also reported positive growth.

Nazara Technologies is actively raising capital to support both organic growth and strategic acquisitions. As reported on April 18, the company has allocated ₹800–1,000 crore this year for inorganic expansion, specifically targeting global gaming studios with established intellectual properties and annual revenues of approximately ₹100 crore.

In line with this strategy, Nazara completed its largest international acquisition to date on May 20 by acquiring UK-based PC and console game publisher Curve Games for ₹247 crore, reinforcing its global expansion ambitions.

Nazara Technologies is demonstrating strong momentum through robust revenue growth, strategic investments, and international acquisitions. With a sharp focus on expanding its global footprint and strengthening its portfolio of gaming IPs, the company is well-positioned to capitalize on the rapidly evolving gaming landscape, both in India and abroad.

Nestle SA acquires minority stake in pet food company Drools

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Swiss food conglomerate Nestlé SA, the parent company of Nestlé India, has acquired a minority stake in Drools Pet Food Private Limited, an Indian pet food brand. The company, known for global brands like Kit Kat and Milo, confirmed that Drools will continue to operate independently post-investment.

This move comes after Drools raised $60 million in 2023 from L Catterton, a private equity firm backed by LVMH. At that time, L Catterton’s investment represented 10% of Drools’ valuation, making it one of the most significant deals in India’s pet care sector.

Founded in 2010 by Fahim Sultan, Drools specializes in high-protein and prescription pet diets. The brand has established a strong presence, with its products available in over 40,000 retail outlets across India and exported to 22 international markets.

Drools operates six manufacturing facilities and maintains a widespread warehousing network. It holds a strong position in India’s cat food segment and ranks among the top sellers on major e-commerce platforms such as Amazon.

Nestlé has a significant presence in the global pet food market. In fact, in 2024, its pet care division generated sales of 18.9 billion Swiss francs, thereby contributing 20.7% to the company’s total annual revenue.

According to Nestlé’s 2024 annual report, the company sells dog and cat food under well-known brands like Purina and Felix. Notably, Purina Petcare entered the Indian market in 2017 as a separate entity. Subsequently, in 2022, Nestlé India acquired Purina Petcare India for approximately ₹125.3 crore, aiming to manage and further expand the brand’s footprint across the country.

Pet ownership in India saw a significant rise during the pandemic, as more people turned to animal companionship while confined to their homes. Today, households in India own approximately 30 million of the country’s estimated 100 million pets.

India’s pet food market, currently valued at $551 million, is on a strong growth trajectory and is expected to reach $1.8 billion within the next seven to eight years.

Anjana Sasidharan, partner and head of India at L Catterton, said, “Drools has achieved significant growth since we invested in the company two years ago, through high-quality in-market agility and execution, and a range of operational initiatives we have been working on with its management team to create value. We are thrilled that Nestle, which has such a renowned position in the global pet care and consumer brands space, joins as a minority partner.”

Fahim Sultan, founder of Drools Pet Food, said, “This is a testament to the love and trust of millions of pet parents and to our unwavering commitment to quality… Backed by a strong focus on science-based nutrition, Drools continues to drive innovation and build meaningful engagement with the evolving demographic of Indian pet parents, positioning itself at the forefront of the country’s pet care industry.”

Nestlé’s strategic investments and acquisitions in India’s pet food market clearly demonstrate its commitment to capitalizing on the sector’s rapid growth. Moreover, by partnering with established brands like Drools and expanding its Purina presence, the company aims to meet increasing consumer demand. Furthermore, with pet ownership rising significantly in India, Nestlé’s continued focus on innovation and market expansion will likely drive sustained success in this evolving industry.

RateGain reports 44% PAT growth in FY25, boosts AI-First investments

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RateGain Travel Technologies Limited, a global leader in AI-driven SaaS solutions for the travel and hospitality sector, announced its financial results for the quarter and fiscal year ending March 31, 2025, showcasing robust growth and record profitability. In Q4 FY25, the company achieved a notable increase in Profit After Tax (PAT), supported by a record-high EBITDA margin of 23.2%, driven by enhanced operational efficiency.

Throughout FY25, RateGain’s Operating Revenue surged by 12.5% year-over-year (YoY) to a record INR 10,766.7 million, reflecting steady performance across all three business segments. Furthermore, the company expanded its operating margins to an all-time high of 21.6%, compared to 19.8% in FY24, underscoring its strategic focus on sustainable growth and cost optimization. PAT for the year climbed by an impressive 43.7% YoY, attributed to consistent growth and disciplined operational execution.

Comparing full-year performance with the previous fiscal year, Operating Revenue grew from INR 9,570.3 million to INR 10,766.7 million (+12.5% YoY), while Total Revenue increased from INR 9,985.9 million to INR 11,530.4 million (+15.5% YoY). EBITDA rose by 22.3% to INR 2,320.6 million from INR 1,897.3 million, and PAT reached INR 2,089.3 million, up from INR 1,453.9 million (+43.7% YoY). Correspondingly, EBITDA margin improved to 21.6%, and PAT margin rose to 19.4% from 15.2%.

In Q4 FY25, the company reported a 1.9% YoY increase in Operating Revenue, reaching INR 2,606.9 million, while Total Revenue stood at INR 2,811.4 million, up 1.5% from the same quarter last year. EBITDA grew by 11.7% to INR 605.9 million, and PAT increased by 9.6% to INR 548.1 million. EBITDA and PAT margins reached 23.2% and 21.0%, respectively, marking a strong finish to the fiscal year.

RateGain also maintained a robust LTV to CAC ratio of 13.6x and stable Revenue per Employee at INR 13.1 million, indicating sustained productivity levels. Through ongoing investment in go-to-market (GTM) strategies, the company expanded its revenue contribution from high-growth regions in APAC and the Middle East, which now account for 13.7% of total revenue, up from 12.4% last year.

Driving its continued growth, RateGain’s AI-first approach has deepened adoption among top global travel and hospitality brands. The company has introduced several groundbreaking innovations to solve key industry challenges. These include UNO VIVA, the world’s first CRS-integrated AI voice agent, designed to boost hotel booking conversions and reduce missed reservations by automating phone bookings. Additionally, Smart ARI helps eliminate redundant OTA updates, reduces overbookings and rate parity issues, and delivers real-time cost savings for OTAs. Lastly, AirGain AI Digest empowers airlines with real-time insights into route performance, demand trends, and anomalies, enabling faster and more accurate pricing decisions in today’s dynamic travel landscape.

By combining financial discipline with cutting-edge AI innovation, RateGain continues to strengthen its market leadership and deliver sustained value to stakeholders across the global travel ecosystem.

Bhanu Chopra, Founder and Chairman, RateGain Travel Technologies, said, “In FY25 we started building for the future with an AI-first approach focused on solving new customer problems. I am confident that with our ability to drive excellence at scale through our products, we will be able to deliver value to our customers across the hospitality & travel ecosystem.

As we continue to ramp up our GTM efforts and drive more strategic partnerships, we aim to empower every player in the industry to leverage RateGain’s AI-powered solutions to maximize revenue.”

Rohan Mittal, Chief Financial Officer, RateGain Travel Technologies, added, “We close out the year on a steady note, consolidating our position amidst a challenging demand environment and with a strong performance on margins. With a continued focus on disciplined execution and enhanced operational efficiency, the company has delivered a record margin of 23.2%.

The evolving macro landscape, with shifting demand patterns and increased volatility, continues to pose both challenges and opportunities. Given our global positioning and the opportunity ahead of us, we will be investing in our GTM motion to enhance market reach and customer engagement. We remain committed to balancing near-term profitability with long-term value creation, to deliver the best outcomes for all key stakeholders.”

RateGain’s global workforce expanded to 821 employees, reflecting its strategic focus on scaling operations and enhancing execution capabilities. With an attrition rate of 10.5%, the company maintained healthy employee retention while making targeted hires across critical functions and geographies to strengthen its leadership bench. Additionally, RateGain continued to uphold its commitment to Diversity, Equity, and Inclusion (DE\&I), actively fostering a sustainable and inclusive work environment that prioritizes employee development, innovation, and long-term growth.

Radisson expands in East India with three new hotels

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Radisson is significantly strengthening its presence in East India by signing three new properties in Deoghar, Puri, and Ranchi. Moreover, this strategic move aligns perfectly with the hotel group’s broader expansion plans for India. As a result, it will add a total of 400 rooms across these three key destinations.

The three upcoming properties — Radisson Blu Hotel in Deoghar, Radisson RED in Puri, and Radisson Resort & Spa in Ranchi — will strategically leverage on unique regional opportunities. According to the group, these hotels will cater to local market needs while offering experiences that reflect global hospitality standards.

In Deoghar, Jharkhand, the Radisson Blu Hotel will become the city’s first internationally branded upper-upscale property. Deoghar, recognized for its spiritual significance and growing medical tourism, is also emerging as a destination for large weddings and MICE (meetings, incentives, conferences, and exhibitions) events. Strategically situated near Deoghar Airport and AIIMS, the hotel will offer scenic views of the Tapovan and Trikuta Hills, aiming to cater to pilgrims, wellness seekers, and event organizers alike.

In Odisha, Radisson will introduce the state’s first hotel under the vibrant Radisson RED brand in Puri. Located on New Marine Drive Road near Puri Beach, the hotel will feature RED’s signature contemporary design along with carefully curated food, beverage, and wellness experiences. Targeting both modern leisure travelers and spiritual tourists, the property is expected to attract substantial crowds, especially during major events like the annual Ratha Yatra at the iconic Shree Jagannath Temple.

The Ranchi property, branded as Radisson Resort & Spa, will be located along the Ranchi–Jamshedpur highway amidst lush greenery. Designed as a premium destination, the resort will primarily cater to MICE events, weddings, and leisure travelers. Furthermore, as Ranchi continues to grow as an administrative and economic center, this hotel will mark Radisson’s fifth property in Jharkhand and its second in the state capital.

“With the growing momentum of spiritual, cultural, and medical tourism in India, Radisson Hotel Group is focused on staying ahead of the curve by offering world-class luxury and upscale hospitality across cities. With over 13 (five operational, eight in pipeline) properties in East India, this three-hotel signing deal is a strong testament to our commitment to expanding in high-potential markets across the country,” Nikhil Sharma, Managing Director and COO, South Asia, Radisson Hotel Group, said.

The Radisson Blu Hotel in Deoghar will feature regionally inspired food and beverage offerings, along with expansive spaces for meetings and events—specifically targeting weddings and corporate gatherings. As the first internationally upper-upscale hotel in the area, the property will enhance Radisson’s brand presence and recognition in the region.

“With strategic locations and tailored brand offerings, these hotels will further reinforce our presence in East India while delivering an exceptional experience to the guests,” he added.

Radisson RED Puri will offer 105 rooms, blending lifestyle-driven design with practical, functional spaces.The hotel will divide into two distinct sections: a beachfront zone offering low-rise rooms, a swimming pool, and a dining outlet, and a second block-style structure housing additional rooms, a rooftop bar with ocean views, meeting spaces, and wellness facilities. According to the group, this will be Puri’s first upscale lifestyle hotel, setting itself apart from existing and upcoming branded properties with a unique format and experience.

The Ranchi resort will span eight acres and feature 175 rooms, complemented by extensive meeting and banquet facilities. The company highlighted that this development will meet the increasing demand for upscale resort-style accommodations in the region, particularly for weddings and social MICE events.

Davashish Srivastava, Senior Director, Development South Asia, Radisson Hotel Group, said, “This signing reflects our continued focus on unlocking value in high-potential micro-markets that are witnessing strong demand across spiritual, leisure and business travel segments. Deoghar, Puri and Ranchi each present a distinct opportunity — from being deeply rooted in religious & leisure tourism circuits to evolving into emerging economic and wellness hubs.”

Sanjay Kumar Sharda, director of Sharda Devcon Private Limited—Radisson’s partner on these projects—stated that collaborating with Radisson Hotel Group aligns with their goal of delivering high-quality hospitality experiences in emerging destinations. He added that, leveraging Radisson’s operational expertise and strong brand reputation, they are confident the partnership will enhance the hospitality sector in Jharkhand and Odisha, providing travelers with world-class comfort grounded in the region’s unique culture.

The partnership between Radisson Hotel Group and Sharda Devcon Private Limited marks a significant milestone in elevating hospitality standards across East India. With a focus on delivering world-class experiences in Deoghar, Puri, and Ranchi, this expansion will not only boost regional tourism but also support the growing demand for premium accommodations and event spaces in these emerging markets.

WiseTech Global to acquire E2open for $2.1 Billion

Australian software firm WiseTech Global revealed its largest acquisition to date—a $2.1 billion deal to acquire U.S.-based cloud solutions provider E2open, aimed at expanding its range of product offerings.

The acquisition will be entirely financed through a newly secured $3 billion debt facility, backed by a consortium of nine lenders, including Deutsche Bank and HSBC. This move represents a bold step by WiseTech to strengthen its global presence.

As part of the deal, WiseTech Global is offering $3.30 per share for E2open — a 24.5% premium over the U.S. firm’s most recent closing price.

WiseTech shares opened over 5% higher in Sydney, last trading up 5.2% at A$106, reflecting investor optimism around the deal.

The acquisition will significantly boost WiseTech’s software capabilities as the company integrates E2open’s expertise in supply chain planning, procurement, trade compliance, and channel management.

The acquisition comes at a crucial time for the Sydney-based company, following a period of turbulence. In October 2024, billionaire cofounder and major shareholder Richard White stepped down as CEO after media reports alleged financial transactions involving a former sexual partner. The controversy led to heightened reputational scrutiny and triggered a sharp decline in WiseTech’s share price.

E2open has recently faced concerns about its growth outlook, driven by increasing macroeconomic uncertainty.

This latest acquisition far surpasses WiseTech’s earlier deals—such as the $414 million acquisition of Blume Global in 2023—and strategically positions the company as a more prominent player in the broader enterprise logistics and supply chain technology sector.

Andrew Appel, e2open’s Chief Executive Officer said: “E2open and WiseTech have complementary products across transport, logistics, supply and demand ecosystems, and both organizations are committed to improving the efficiency, productivity and security of global supply chains through better use of technology, data, automation and artificial intelligence. This strategic combination empowers our people, and our customers who make, move, and sell goods and services to unlock new levels of efficiency and sustainability. As the connected supply chain platform, we are excited to join forces with WiseTech to create a truly global, intelligent logistics ecosystem as we jointly lead the digital transformation of our industry.”

With this acquisition, WiseTech takes a bold step to expand its global presence and strengthen its position in the enterprise logistics and supply chain technology space. By integrating E2open’s solutions, WiseTech actively enhances its software portfolio and reinforces its commitment to driving innovation across the global supply chain.