Lumina Datamatics completes full acquisition of TNQTech

August 7, 2026

Lumina Datamatics has completed the acquisition of Chennai-based publishing technology company TNQTech, making it a wholly owned subsidiary and strengthening Lumina’s position in the global scholarly publishing solutions market.

The transaction marks a key step in Lumina Datamatics’ organic and inorganic growth strategy. The company said the combined business will bring together its global scale, customer relationships, technology capabilities and service expertise with TNQTech’s experience in scholarly publishing technology and AI-enabled solutions.

Lumina Datamatics had signed a definitive agreement in December 2024 to acquire an 80% controlling stake in TNQTech. Following the acquisition of the remaining 20% stake, TNQTech is now fully owned by Lumina Datamatics.

Sameer Kanodia, Vice Chairman and CEO, Lumina Datamatics & TNQTech, said, “The successful acquisition of TNQTech marks a defining milestone in our journey. Together, we have created a leading global partner for scholarly publishing solutions, combining deep domain expertise with next-generation AI technologies to help publishers transform their businesses.”

He further added, “Our focus is on driving the next wave of growth through innovation, AI-led transformation, and strategic investments in technology. Integrating exceptional talent, complementary capabilities, and a shared vision for the future, we are uniquely positioned to accelerate product innovation, expand our global footprint, and deliver greater value to customers worldwide. We believe this combination creates tremendous opportunities to redefine how scholarly content is created, managed, enriched, and delivered in the years ahead.”

Mariam Ram, Founder and Director, TNQTech, said, “Becoming a part of Lumina Datamatics is the right step for TNQTech. Our technology and domain expertise align perfectly with their scale and reach in scholarly publishing. I am confident TNQTech’s people, products and customers are now in the hands of a reliable, trusted organization that will carry our vision forward while driving the next phase of innovation and growth.”

The integration gives the combined organisation capabilities across the full scholarly publishing lifecycle. These include manuscript submission, peer review, editorial workflows, production, digital publishing, accessibility, analytics and AI-powered content enrichment.

Consequently, publishers will gain access to a broader portfolio of intelligent publishing platforms, along with domain expertise, automation capabilities and global delivery scale. The combination is also expected to support faster innovation and greater operational efficiency across publishing workflows.

For Lumina Datamatics, the acquisition expands its capabilities in a publishing sector undergoing significant technology-led transformation. By combining TNQTech’s specialised publishing expertise with Lumina’s global reach, the company aims to help publishers improve efficiency, accelerate growth and develop new digital opportunities.

Lumina Datamatics said it will continue investing in technology, AI-led transformation and innovation as the publishing industry evolves. With TNQTech now fully integrated into its business, the company is positioned to expand its global scholarly publishing offering and develop new solutions across the content lifecycle.

Zone by The Park adopts InnKey platform across three hotels

BRL Editor

August 7, 2026

Zone by The Park Hotels has implemented the InnKey Enterprise Hospitality Platform across three of its properties as part of an effort to bring hotel operations onto a unified technology system.

The deployment is aimed at improving operational visibility, standardising workflows, providing real-time business insights and strengthening management control across multiple properties. By moving its operations onto a common platform, the hotel group expects to simplify daily processes while maintaining consistent operating standards across its portfolio.

The technology rollout will also cover additional properties. Implementations are currently underway at Zone by The Park Jaisalmer, Visakhapatnam, Gangtok, Darjeeling, Katra and Pathankot, while the remaining properties will be integrated in phases.

Once the wider deployment is completed, Zone by The Park Hotels will have its properties connected through a single platform. This is expected to provide stronger portfolio-wide visibility, standardised processes and greater oversight for management teams.

Furthermore, the partnership is focused on improving operational efficiency and supporting guest services while creating a technology foundation for the group’s future expansion. The connected hospitality management system is intended to help the hotel group manage its growing operations more efficiently across locations.

InnKey has also reaffirmed its commitment to supporting Zone by The Park Hotels as the group expands its operations and strengthens its technology infrastructure.

The adoption of a unified hospitality technology platform marks a step towards greater operational integration for Zone by The Park Hotels. With additional properties already being brought onto InnKey, the phased rollout is expected to provide the group with a more consistent and connected framework for managing its expanding portfolio.

UAE’s Islamic Bank ruya Goes Live with Agentic AI in Production, Partners with Magure to Build an AI-Native Bank

BRL Editor

August 7, 2026

[6 August 2026] Dubai and Ajman, UAE: ruya, the UAE’s digital-first Islamic community bank, and Magure, a UAE-headquartered enterprise AI company, today announced a long-term strategic partnership to make ruya an AI-native bank, one where intelligence is woven into how the bank serves customers, runs operations and manages risk, rather than bolted on as isolated projects.

We didn’t set out to run AI projects; we set out to build a bank where intelligence is part of the foundation,” said Christoph Koster, CEO of ruya. “As an ethical, Shari’ah-compliant bank, we hold ourselves to a high standard on how technology treats our customers and their data. This partnership lets us move fast on AI without ever compromising on that. Everything runs inside our own environment, governed end to end, with a UAE partner who shares our ambition for this country.”

The announcement follows the partnership’s first production milestone: three agentic AI use cases are now live at ruya, designed and delivered by Magure. Business customers opening an account with ruya now experience seamless onboarding and quick turnaround for account opening: a digital journey in which agentic AI handles document analysis, verification checks and case summaries, while ruya’s team focuses on decisions, not paperwork. Behind the scenes, several other everyday transactions are processed faster and more accurately. Each workflow keeps a human reviewer in the loop; every decision that matters remains with a person.

Critically, the entire capability runs inside ruya’s own private cloud: open-source large language models, fully integrated with the bank’s systems, with the bank retaining full ownership and control of its AI capability. No personally identifiable information ever leaves the bank’s infrastructure.

“Every bank is buying AI. Very few are built for it,” said Akhil Koka, CEO of Magure. “ruya is that rare digital-first bank, with no legacy core to fight and leadership willing to make intelligence part of the foundation rather than a project on the side. What’s live today isn’t a pilot or a demo. It’s production AI doing real work inside a regulated bank every day.”

From AI Projects to an AI-Native Bank

Most banks buy AI one project at a time each use case is a separate build, with governance and controls reconstructed every time. ruya has taken a different path: a single governed AI fabric, built on Magure’s flagship platform MagOneAI, serving every layer of the bank customers, operations, risk and compliance and employees.

Under the partnership, the three live use cases become the first of a bank-wide portfolio. The roadmap spans collections, compliance, credit support, a customer AI assistant, personalization and customer analytics and RuyaAI – a secure, private assistant grounded in ruya’s own knowledge for every employee. For customers, this roadmap means the same intelligence extending across everyday banking: faster resolutions, more personalised service and a bank that responds day and night. Because each new use case is configured on the same governed platform, new capabilities reach production in weeks, not months, and every action is auditable by design.

“The hardest part is behind us: the platform, the governance and the sovereign foundation are in place,” Koka added. “From here, every new capability ships on rails that already exist. This is a long-term partnership, and we’re just getting started.”

Responsible AI, Aligned with the UAE’s Ambition

The partnership is designed from the ground up around the UAE’s national ambition to lead in artificial intelligence and the Central Bank of the UAE’s expectations for responsible AI in licensed financial institutions, including board-level governance and accountability, transparency and explainability, human oversight of high-impact decisions and consumer protection.

Magure’s agentic AI platform, MagOneAI embeds these principles at the platform level. Human task nodes pause any workflow for human review, approval or override AI assists and accelerates, but people decide. Role-based access controls, centralised monitoring, cost tracking and full audit trails apply across every use case from a single governance layer, rather than being rebuilt per project. Magure is ISO 9001, ISO 27001 and ISO 42001 (AI Governance) certified, with SOC 2 Type II attestation, giving ruya independently verified assurance across quality, information security and AI governance.

“Our customers, the UAE’s entrepreneurs, SMEs, families and communities feel this as a bank that simply moves faster and knows them better,” said Koster, CEO, ruya. “Accounts opened in a fraction of the time, transactions processed without delay, service that doesn’t sleep. That is what AI should mean for banking: invisible where it should be and accountable everywhere.”

About Magure

Magure is a UAE-headquartered, DIFC-registered enterprise AI company in Dubai, with delivery centres in India and a presence in the USA. Its flagship platform, MagOneAI, is the sovereign enterprise agentic AI platform for building, deploying, and governing AI agents in production on your own infrastructure, with any LLM. Magure serves 80+ enterprise customers across government, financial services, healthcare, and large conglomerates, with 60+ AI deployments in production. Technology and deployment partners include NVIDIA, AWS, Microsoft Azure, Oracle, and Huawei. Certified to ISO 9001, ISO 27001, ISO 42001, and SOC 2 Type II.

Learn more at www.magureinc.com.

About ruya (رويا):

Headquartered in Ajman and launched in 2024, ruya (Ruya Islamic Community Bank LLC) is a fusion of innovative technology and the enduring principles of Islamic banking, designed for individuals and businesses alike. Licensed by the Central Bank of the UAE as a Specialised Bank, ruya delivers a seamless digital banking experience built on robust security and intuitive design. Guided by the pillars of fairness, transparency, and social responsibility, ruya is deeply rooted in the community supporting families, entrepreneurs and small businesses while fostering financial literacy and inclusion through open-door branches that serve as hubs of education and support. ruya is also proud to be Great Place to Work® Certified, a testament to its inclusive culture and employee-first values.

For more information: www.ruyabank.ae

Nvidia-backed Firmus raises $2 Bn to scale AI factories across Australia and Asia

BRL Editor

August 7, 2026

Nvidia-backed Firmus raises $2 Bn to scale AI factories across Australia and Asia — Oliver Curtis, Co-CEO of Firmus

Australia-based AI infrastructure company Firmus has raised $2 billion in equity in its latest funding round, giving the company fresh capital to accelerate the development of AI factories across Australia and the Asia Pacific region.

The funding has lifted Firmus’ post-money valuation to above $10.5 billion, nearly doubling its $5.5 billion valuation from an earlier funding round in April.

The latest round attracted follow-on investment from Nvidia and technology investor Coatue Management, alongside investments from Blackstone’s funds and Jane Street.

Firmus plans to use the new capital to accelerate the next stage of Project Southgate, its initiative to develop AI training and inference infrastructure in Australia. The company also plans to use the funding to support its expansion into other Asian markets.

The latest investment comes as Firmus moves to increase its AI infrastructure capacity while preparing for expansion beyond Australia.

The company said the funding will support its plans to scale operations across Australia and accelerate its entry into the wider Asia Pacific market. This includes the early development work associated with its recently announced Indonesia development, which is intended to serve AI-native customers.

Firmus is building its infrastructure around Nvidia’s DSX AI Factory Reference Architecture. The two companies reached an agreement in late June under which Firmus would purchase Nvidia infrastructure and provide Nvidia-powered cloud services.

The partnership gives Firmus access to Nvidia-based infrastructure as it develops its AI factory network and expands its cloud capabilities across the region.

Commenting on the latest investment, Oliver Curtis, Co-CEO of Firmus, said, “This ⁠investment allows us to move on multiple fronts at once. We’re scaling across Australia while fast-tracking our capacity to expand into the wider Asia-Pacific region, including the early steps behind our recently announced Indonesia development that will serve AI-native customers.”

The latest fundraise marks a significant increase in Firmus’ valuation within a relatively short period. The company’s post-money valuation has risen from $5.5 billion in April to above $10.5 billion following the latest financing.

With the new capital, Firmus will focus on accelerating Project Southgate, expanding its AI infrastructure footprint across Australia and progressing its broader Asia Pacific expansion.

Firmus’ $2 billion funding round provides the company with substantial capital to scale its AI factory infrastructure, advance Project Southgate and accelerate its expansion into Asia Pacific, including its planned development in Indonesia.

Swiggy targets Rs 10,000-Cr adjusted EBITDA by FY31

BRL Editor

August 6, 2026

Swiggy targets Rs 10,000-Cr adjusted EBITDA by FY31 — Sriharsha Majety, founder and group CEO, Swiggy

Food and grocery delivery platform Swiggy has set an ambitious financial target of generating Rs 10,000 crore in annual adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) by fiscal year 2031, according to a presentation shared during the company’s Capital Markets Day on Thursday.

Adjusted Ebitda measures a company’s core operating performance by excluding one-time items, non-cash expenses and certain accounting adjustments. The target highlights Swiggy’s long-term strategy to strengthen profitability across its food delivery, quick commerce and out-of-home consumption businesses.

Swiggy reported an adjusted Ebitda loss of Rs 2,483 crore in FY26, primarily due to continued investments in its quick commerce business, Instamart. However, its food delivery segment remained profitable, posting an operating profit of Rs 1,001 crore during the financial year.

To achieve its FY31 goal, Swiggy expects its food delivery business to contribute Rs 5,000 crore in operating profit, while Instamart is projected to generate Rs 4,000 crore. The remaining Rs 1,000 crore is expected to come from its out-of-home consumption business, which recorded an operating profit of Rs 29 crore in FY26.

“Our confidence in achieving our five-year (adjusted) Ebitda goal is rooted in the strength of our fundamentals. We have always believed that if we stay focused on solving large consumer problems and execute with discipline, the financial outcomes will follow,” Sriharsha Majety, founder and group CEO, Swiggy, said in a statement. “We are operating in three of India’s largest and fastest-growing consumer opportunity spaces, food delivery, quick commerce and out-of-home consumption, with each of these businesses having the potential to compound over the coming years.”

Earlier this year, while announcing its January-March quarter results, Swiggy said it aims to achieve Rs 1 lakh crore in net order value (NOV) across its businesses over the medium term.

During the April-June quarter, the Bengaluru-based company reduced its consolidated net loss by 34% year-on-year to Rs 791 crore as it continued improving Instamart’s financial performance. The quick commerce business became contribution-neutral during the quarter and is expected to reach adjusted Ebitda break-even once quarterly orders increase to 250-300 million, compared with 114.5 million orders recorded in the June quarter.

Contribution is a financial metric that measures the revenue remaining after variable costs are deducted.

Swiggy also projects Rs 1.5 lakh crore in gross order value (GOV) for Instamart by FY31, representing a four to five-fold increase from Rs 28,000 crore reported in FY26. GOV refers to net order value plus discounts.

As part of its long-term strategy, Swiggy plans to transition to an inventory-led model. The company will seek shareholder approval to become an Indian-owned and controlled company during its annual general meeting scheduled for August 18, marking its second attempt after stakeholders rejected a similar proposal in May. Swiggy said domestic ownership has already crossed the 50% threshold.

Following the required approvals, the company expects the transition to the inventory model to take two to four quarters.

Swiggy’s long-term roadmap reflects its focus on improving profitability while expanding across food delivery, quick commerce and out-of-home consumption. If the company executes its strategy successfully, stronger operating performance from Instamart and sustained growth across its core businesses could play a significant role in achieving its FY31 financial targets.

Quick commerce platform HomeRun raises $12 Mn to scale construction quick commerce

BRL Editor

August 6, 2026

Construction and interior materials quick-commerce platform HomeRun has secured USD 12 million in a Series A+ funding round led by Nexus Venture Partners, with participation from existing investors Sorin Investments, Titan Capital, Sparrow Capital and Consumer Collective by Atrium. The latest investment comes just a few months after the company raised USD 6.6 million earlier this year, highlighting continued investor confidence in the startup’s rapid growth and business model.

The fresh capital will support HomeRun’s expansion into new geographies while strengthening its supply chain, technology platform and category offerings. The funding is expected to help the company scale its operations as demand for faster and more reliable procurement of construction materials continues to grow across India.

HomeRun delivers construction and interior materials to contractors and homeowners within 60 minutes at competitive prices, with a strong emphasis on reliability and product authenticity. The platform aims to solve persistent challenges in the construction sector, including unreliable supply, opaque pricing, last-minute shortages and labour downtime that often delay new construction, renovation and repair projects.

Founded by Pukhraj Grewal, HomeRun benefits from his more than a decade of experience in construction, contracting and operations. Before launching HomeRun, Grewal co-founded Tornado, a technology-enabled interior contracting startup, and Project Hero, a construction labour-hiring platform.

Commenting on the funding, Pukhraj Grewal, Founder and CEO, said, “Building material procurement in India has remained fragmented and inefficient for far too long. At HomeRun, we’re making it as reliable, transparent and fast as any modern commerce experience. The strong customer response reinforces the scale of this opportunity. With Nexus joining us, we’re excited to expand into new cities and build the country’s most trusted platform for building materials.”

The funding reflects growing investor interest in vertical-focused quick commerce businesses that address inefficiencies in large, underserved industries. By digitising the building materials supply chain, HomeRun is targeting a market that has traditionally relied on fragmented offline procurement channels.

Anand Datta, Partner, Nexus Venture Partners, added, “Our quick commerce thesis centers on formalizing supply chains while preserving the proximity advantage of small-format local merchants. Building materials and local hardware is one such supply chain that has largely skipped digitization. In Pukhraj, we found a founder who deeply understands the small contractor’s pain points, having lived that persona himself. The company is growing rapidly without offering credit and with great unit economics. We’re thrilled to partner with the team.”

Existing investor Sorin Investments also increased its commitment in the latest round.

“Sorin Investments invested in HomeRun six months ago on the belief that this category rewards operational depth over capital. HomeRun operates in a notoriously complex supply chain, and the team has scaled the business sharply since then with phenomenal execution. We think the best chapters are still ahead, and we’re proud to double down on Pukhraj and the team,” said Subeer Monga, Partner, Sorin Investments.

With fresh funding from Nexus Venture Partners and continued backing from existing investors, HomeRun is preparing for its next phase of growth. The company plans to expand into new cities while investing in supply chain capabilities, technology infrastructure and category expansion as it works toward building a trusted quick commerce platform for construction and interior materials across India.

Marathon Nextgen Realty enters Sewri with ₹450 crore GDV Residential project

BRL Editor

August 6, 2026

Marathon Nextgen Realty enters Sewri with ₹450 crore GDV Residential project — Mr. Parmeet Shah, Director, Sunset Spaces Private Limited

Residential and retail development marks the Company’s entry into a strategically connected South Mumbai micro-market

Mumbai, August 01, 2026: Marathon Nextgen Realty Limited (“MNRL” or “the Company”) today announced that its subsidiary, Sunset Spaces Private Limited (“Sunset Spaces”), entered into a Joint Development Agreement for a cluster redevelopment project in Sewri, Mumbai. The proposed development will comprise a high-rise residential tower with high-street retail spaces.

The project is situated on a land parcel admeasuring approximately 7,500 square metres and has an estimated Gross Development Value (GDV) of approximately ₹450 crore for MNRL. The development potential and estimated GDV are subject to receipt of the requisite statutory approvals, finalisation of development plans, applicable regulations and prevailing market conditions.

Commenting on the development, Mr. Parmeet Shah, Director, Sunset Spaces Private Limited, said: “We are pleased to announce our entry into Sewri through this joint development project. Sewri is a well-connected and strategically important South Mumbai micro-market, with major infrastructure investments significantly improving its connectivity and long-term growth potential. The project gives Marathon a strong and visible presence in a location where we have not previously operated.

Our strategy is to steadily expand the Marathon footprint across high-potential Mumbai micromarkets through carefully selected opportunities. This joint development marks our expansion into cluster redevelopment, complementing our recent entry into society redevelopment. These avenues further broaden the routes through which we can grow, while remaining disciplined about location, product quality and execution.”

Sewri is emerging as one of Mumbai’s most well-connected locations. The operational Atal Setu has positioned the area as an important gateway between South Mumbai, Navi Mumbai and the wider Mumbai Metropolitan Region. The upcoming Sewri-Worli Elevated Connector is expected to substantially improve east-west connectivity by bridging Atal Setu, the Coastal Road, and the Bandra-Worli Sea Link. Beyond its excellent connectivity, Sewri offers beautiful views of Mumbai’s eastern waterfront, which is often home to flocks of flamingos. The area’s improving accessibility, South Mumbai location, amazing views and relative value compared with more established nearby markets strengthen Sewri’s long-term appeal as a residential destination.

The project will now progress through the planning and regulatory approval process. The Company will make further disclosures regarding approvals, project timelines and other material developments in accordance with applicable laws and regulatory requirements.

About Marathon NextGen Realty Ltd.

For over 56 years now, Marathon Group has been helping shape Mumbai’s skyline. Founded in 1969 by Ramniklal Zaverbhai Shah, the Group has completed over 100 projects in the city with a portfolio encompassing townships, affordable housing, luxury residential, retail, small business spaces, and corporate parks. Marathon is design-driven and engineering-focused with a leadership team comprising of technocrats. Mr. Chetan Shah, Chairman & Mr. Mayur Shah, Vice-Chairman, have completed their engineering from US and the third generation of the company comprising of the three head of project –Mr. Kaivalya Shah, Mr. Parmeet Shah, and Mr. Samyag Shah are highly qualified having completed their education from US and bring years of real estate experience. Marathon has strong in-house capabilities in design, engineering, execution, marketing, and sales and prides itself on its transparency, customercentricity and is among one of the most trusted Developers. The Group has ongoing projects at Lower Parel, Byculla, Mulund, and land banks at Bhandup, Thane, Dombivli and Panvel.

More information is available at https://www.marathonnextgen.com/

For further information, please contact:

Marathon NextGen Realty Ltd – Mr. Avinash Tanawade Investor Relations – P: +91 22 6724 8484 / 9870715789, E: avinash.tanawade@marathonrealty.com

Strategic Growth Advisors Pvt Ltd – Mr. Rahul Agarwal Associate Director – IR – M: +91 98214 38864, E: rahul.agarwal@sgapl.net

DISCLAIMER: Some of the statements in this communication may be ‘forward-looking statements’ within the meaning of applicable laws and regulations. Actual results might differ substantially from those expressed or implied. Important developments that could affect the company’s operations include changes in the industry structure, significant changes in the political and economic environment in India and overseas, tax laws, duties, litigation, and labour relations.

Hudle Vision Debuts with AI Video Campaign for Smart Padel Courts

BRL Editor

August 6, 2026

New Delhi, August 2026: Hudle, India’s leading sports community platform, has launched Hudle Vision, India’s first AI-powered padel court experience, with an AI-generated campaign film. The choice of medium is deliberate. To introduce a product built on artificial intelligence, Hudle created the campaign using AI itself. Launching first on padel courts, Hudle Vision will expand to pickleball and badminton in the coming months, bringing AI-powered highlights and performance insights to recreational racket sports.

The launch campaign mirrors the technology it introduces. The AI film follows a player’s journey from booking a game on the Hudle app to stepping onto a Vision-enabled court and walking away with automatically generated match highlights and performance insights. Hudle Vision introduces a new kind of recreational sports experience where every game becomes measurable, memorable and instantly shareable.

Using an on-court camera with AI-powered analysis, the platform generates shareable highlight reels alongside match analytics such as ball speed, court heatmaps, shot distribution and rally participation. Every player walks away with something worth sharing and something worth improving.

The launch comes at a defining moment for padel in India. According to Hudle’s India Padel Report 2026, published in partnership with CAA Portas, the market is projected to grow from USD 30 million today to USD 300 million by 2036. As participation accelerates across India’s urban centres, padel is evolving beyond just a sport into a more connected, social and technology-enabled experience. Hudle Vision adds a new layer to that evolution, making every game richer long after the final point is played.

Speaking on the launch, Suhail Narain, Co-Founder and CEO, Hudle, said: “People are already tracking their steps, sleep, runs and workouts. But after a great game of padel, all you take home is a memory. We wanted to change that. Hudle Vision lets every player walk off the court with highlights they can share and insights they can actually use to improve. Until now, that level of insight was largely reserved for professional athletes. We believe everyday players deserve it too. And because Vision is powered by AI, it only felt right to use AI to tell its story too.”

Built directly into the Hudle app, Vision enables every player in a match to access their highlights, review performance, compare progress over time and share memorable moments with friends, extending the experience beyond the court while staying true to Hudle’s community-first approach.

Hudle Vision debuts on Padel courts across Mumbai, Delhi, Gurgaon and Goa, with expansion to more cities and to pickleball and badminton planned in the coming months. Every game deserves a replay. Every player deserves the insights behind it. That’s the future Hudle Vision is bringing to racket sports.

Hudle Vision AI Film

About Hudle

Hudle is India’s leading sports community platform, enabling people to discover venues, book games, join communities, play tournaments, access coaching and improve through skill ratings. With more than 20 lakh players, 2,000+ venues across 110+ cities and over 40 sports, Hudle is building the participation layer for India’s recreational sports ecosystem. The platform facilitates over 3 lakh games every month and plays a key role in digitising venues, supporting grassroots participation and generating large-scale sports behaviour insights.

Google AI veterans launch Discovery Loop to advance scientific AI

BRL Editor

August 6, 2026

Jeff Dean, Google’s long-time chief scientist, has launched a new artificial intelligence startup, Discovery Loop, alongside long-time Google colleagues Sanjay Ghemawat, Oriol Vinyals and Quoc Le. All four founders most recently held senior AI and engineering roles at Google and have worked together for years on the company’s AI models, products and computing infrastructure.

The new venture has been established as a Public Benefit Corporation with a mission to develop AI systems that accelerate scientific and engineering breakthroughs by automating the discovery process. The launch comes as AI companies increasingly focus on applying artificial intelligence beyond traditional enterprise use cases to research and scientific innovation.

Announcing the startup on X, Dean wrote, “We are founding Discovery Loop… a Public Benefit Corporation whose mission is to automate machine learning, science, and engineering to accelerate discoveries and progress.” He added that the four founders have worked together for between 14 and 30 years, helping build Google’s AI models, products and computing infrastructure.

According to the company’s official website, Discovery Loop is developing AI systems capable of automating the iterative process of scientific discovery. Its research agenda includes generating hypotheses, designing experiments, analysing results and refining subsequent iterations to speed up progress across machine learning, science and engineering.

The company also plans to create AI systems that assist researchers throughout the entire discovery lifecycle. It will initially focus on machine learning research before expanding its technology to broader scientific and engineering disciplines.

The launch of Discovery Loop reflects growing interest in using AI to automate complex research workflows, potentially enabling scientists and engineers to accelerate experimentation and innovation across multiple fields.

Separately, Alphabet has announced a leadership change within its AI organisation. Demis Hassabis will assume the newly created role of Alphabet’s chief scientist while transitioning from his position as Google DeepMind CEO to become the company’s chairman, according to a memo sent to staff.

With a founding team that has played a significant role in Google’s AI evolution, Discovery Loop aims to build next-generation AI systems designed to support scientific discovery and engineering research, marking a new chapter in the application of artificial intelligence beyond commercial software.

Mobility startup Moove raises $250 Mn at $2.1 Bn valuation to expand autonomous vehicle business

BRL Editor

August 6, 2026

Mobility startup Moove has raised $250 million in a Series C funding round, valuing the company at $2.1 billion, as it accelerates the expansion of its autonomous vehicle fleet management business. The latest investment marks another milestone in the company’s evolution from a vehicle financing platform into a global mobility operator with ambitions in autonomous transportation.

Founded in 2020 in Nigeria and now headquartered in Dubai, Moove said the funding round was led by Mubadala Investment Company, with Woven Capital and Ion Pacific joining as co-leads.

The fresh capital will primarily support the scaling of Moove’s autonomous vehicle operations, including expanding its workforce and investing in automated fleet infrastructure. The company plans to hire around 350 employees as part of its next growth phase.

Despite its growing focus on autonomous mobility, Moove continues to operate a substantial human-driven ride-hailing business. The company currently owns and manages a fleet of 42,000 ride-hailing vehicles across 14 countries, employs 3,300 people globally, and continues to provide vehicle financing solutions for gig economy drivers.

Moove began exploring the autonomous vehicle sector in early 2023 after assessing the industry’s ecosystem, including autonomous vehicle developers, manufacturers, ride-hailing marketplaces and end consumers. The company identified an opportunity to manage the ownership and operations of autonomous fleets, an area it believes complements its expertise in fleet financing and management.

Explaining the company’s strategy, Ladi Delano, co-founder and co-CEO of Moove, said, “In this world, who owns the vehicle? Who operates the vehicle? Who orchestrates the vehicle? Who does the servicing and the maintenance? Who does the lost property? Who does the cleaning?”

He added, “Let’s create a product where we own, operate, and orchestrate autonomous vehicles, and let’s go and find partners to do it with — and that’s essentially what we did. In 2023, we started talking to every single AV company you could imagine, and as you know – God would have it, luck would have it – we managed to partner with Waymo first.”

Moove currently serves as the fleet operator for Waymo in Phoenix, Miami and Las Vegas, with plans to extend the partnership to London. While the company does not yet own the Waymo robotaxis, it intends to acquire them through debt financing in the future. Delano did not disclose a timeline for those purchases but confirmed that Moove already owns autonomous vehicles supplied by another developer, whose identity remains undisclosed.

Discussing the company’s long-term vision, Delano said, “Ultimately our vision is to own, you know, hundreds of thousands of vehicles.”

Alongside fleet expansion, the company will also invest in developing automated depots, referred to as “nests”, which are designed to operate around the clock using robotics for charging, maintenance and vehicle servicing. Moove currently has around 15 depots in various stages of development, although the company has not announced when its fully automated facilities will become operational.

According to Delano, Moove’s traditional mobility business is expected to achieve full profitability this year, while the newly raised capital will accelerate the company’s autonomous vehicle ambitions.

The funding round also attracted participation from BlueCrest Capital Management, Sona Asset Management, Raptor Group, BlackRock, MUFG, Franklin Templeton, Uber, Left Lane, Silverbacks Holdings, Square Associates, The Latest Ventures, Endeavor Catalyst and the Ontario Power Generation Pension Plan.

As autonomous mobility continues to attract investor interest worldwide, Moove plans to leverage its fleet management expertise and new capital to expand its presence in the emerging robotaxi ecosystem while continuing to grow its established ride-hailing and vehicle financing businesses.

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