DroneAcharya Aerial Innovations collaborates with Studio Trika to create breath-taking experiences in the sky

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February 24, 2023

DroneAcharya Aerial Innovations, an end-to-end data solution provider, announced it partnered with Studio Trika.

By integrating the cutting-edge technology of drones and the creativity of art, the collaboration between DroneAcharya and Studio Trika can potentially establish a new entertainment genre. The partnership aims to offer distinctive experiences to its customers by utilising Studio Trika’s artistic capabilities and DroneAcharya’s drone technology expertise.

In 2009, Chandrakanth Rajapure and Vineet Sabharwal founded Studio Trika, a collaborative environment that fuses art and technology to produce immersive experiences like drone light shows. They illuminate iconic Indian cultural monuments using cutting-edge technology and ongoing innovation, reaching millions of viewers in real-time and introducing leading brands to new media concepts.

Lemon Tree Hotels signs a new hotel in Bhopal

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February 24, 2023

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Lemon Tree Hotels has announced its latest signing – Lemon Tree Hotel, Bhopal, Madhya Pradesh. Carnation Hotels Private Ltd, a wholly-owned subsidiary and the management arm of Lemon Tree Hotels Limited will manage the property’s operations after it becomes operational in December 2023.

This property will have 47 elegantly designed rooms, a restaurant, a banquet, a gym, and other public areas. While the railway station is only 6 km away, the Bhopal Airport is around 17 km away. All of India’s major cities are reachable by the property via public and private transport.

Bhopal is known as the “city of lakes” since it has several water bodies. The lakes serve as both recreational and drinking water sources. A fort from the 1700s and various palaces may be found around the lakes. The largest mosque in India, the 19th-century Taj-ul-Masjid, is one of the many mosques in Bhopal. Every year, the mosque hosts a three-day religious pilgrimage that attracts Muslims from all around India. The Fatehgarh Fort, Lakshmi Narayan Temple, Bharat Bhawan, a multipurpose arts centre, the Museum of Man, an outdoor exhibit of replicas of various Indian tribal dwellings, and Van Vihar National Park, a zoological park, are some of the other tourist attractions in and around Bhopal.

Speaking on occasion, Mahesh Aiyer, CEO of Carnation Hotels Private Limited, commented, “We are happy to announce our expansion in Madhya Pradesh with our valued partner, Hotel Rajtilak Pvt. Ltd. We already have 2 operational hotels in the state, in Indore and Bandhavgarh and another 3 upcoming in Kanha, Jabalpur and, now, Bhopal. We have found that Madhya Pradesh has immense tourism and business potential and are looking at adding more hotels and resorts in the state to our existing portfolio. Though we are just in February, this is already the fifth hotel signed by the company this CY. We signed 19 hotels in the previous CY, and we are looking to top that number in CY23 through our asset-light expansion strategy,” he further added.

SAP Labs India lays off over 300 employees

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February 24, 2023

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According to The Economic Times, SAP Labs, the research and development business unit of German technology firm SAP, has laid off around 300 employees in India.

These layoffs mainly affected the offices in Bengaluru and Gurugram. According to the report, this occurred due to the closing of a global delivery centre that housed roles of custom development for SAP implementation projects.

Those affected received severance packages that included salaries based on the years they had served for the company.

SAP Labs India has offices in Hyderabad, Pune, and Mumbai, besides Bengaluru and Gurugram.

In January, Kulmeet Bawa, Managing Director and President of India subcontinent for SAP, told The Economic Times that India’s contribution to SAP’s cloud revenues in the Asia Pacific and Japan region had doubled in the last two years and that it remained the top market in the region for the German technology company.

IHCL expands its presence in the Mumbai metropolitan region, signs another Vivanta in Thane

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February 23, 2023

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Indian Hotels Company (IHCL) has signed a Vivanta branded hotel in Thane in the Mumbai Metropolitan Region. By 2025, the brownfield project is expected to be completed.

Suma Venkatesh, executive vice-president of Real Estate & Development, IHCL, said, “Thane is a leading business and industrial hub for the state of Maharashtra being a part of the Mumbai Metropolitan Region. This signing is in line with IHCL’s focus on expanding its presence in key emerging markets of India. We are happy to partner with B.K. Holidays and Resorts Private Limited.”

The 122-key hotel is well-located in Shilphata, a comfortable drive from the Jawaharlal Nehru Port (JNPT) and the upcoming Navi Mumbai airport. It is part of a 14-acre mixed-use development that includes various recreational options. The hotel will have Mynt, a renowned all-day diner, a bar, a swimming pool, and a fitness centre. Additionally, it will include cutting-edge banqueting space, including a 400 sq m hall and conference rooms.

Babaji Balaram Patil, promoter, B.K. Holidays and Resorts Private Limited said, “Thane is now an important city, and the stylish Vivanta brand is the perfect fit for it.”

With the addition of this hotel, IHCL will have 31 hotels across Taj, Vivanta, SeleQtions, and Ginger brands in Maharashtra, including ten under development.

Foodics teams up with virtual drive-through startup n.go

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February 23, 2023

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Cloud-based foodtech and payments startup Foodics has signed a strategic agreement with Riyadh-based virtual drive-through startup n.go.

Customers can order from food and beverage brands and pay through the n.go app. When a certain customer’s car enters the pickup zone, the merchant is notified, and the customer can then pick up their orders without stepping out of their car.

With this partnership, Foodics’ customers can use the n.go app, which will offer new sales channels for curbside pickup and virtual drive-throughs, helping restaurants and cafes increase their revenues.

N.go will facilitate restaurants and cafes to learn about customer preferences to provide better services and increase customer loyalty through insights and analytics.

“Through this integration, Foodics’ clients will be able to serve existing customers, as well as acquire new ones who prefer in-restaurant or curbside pickups,” said Ahmad Al Zaini, Co-founder and CEO of Foodics.

The n.go platform, founded in 2021, enables restaurants to reduce operational work and eliminate manual work and its associated errors.

“This collaboration will extend n.go to extend its footprint and reach new customers and restaurants,” said Mazen Ghalib Al-Abdullah, Founder and CEO of n.go.

Foodics was founded in 2014 and has since handled more than six billion orders and raised $170 million in a Series C round last year. N.go operates in 28 cities around Saudi Arabia and the United Arab Emirates. It is raising funds and has completed a $1.8 million (SAR 7 million) investment round to expand in the UAE and beyond.

Edtech startup AdmitKard raises Rs 50-Cr in Series A Funding

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February 23, 2023

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Edtech startup AdmitKard has raised its Series A funding round of Rs 50 crore from GSV Ventures and other investors.

AdmitKard said that with this new funding, it is well-positioned to continue its rapid expansion and solidify its position as a major player in the edtech industry.

According to the company, the investment will accelerate growth and further diversify its product portfolio. In addition, it plans to expand the size of its team, invest in cutting-edge technologies and new product offerings, and continue expanding its presence in significant global markets.

AdmitKard leverages advanced technology and data science to provide personalized guidance to students, helping them to find the best-fit university, course, and country to achieve their career goals. With access to over 3,000 universities in more than 20 countries, it claims to have helped thousands of students with their admissions processes.

“Our vision is to empower students to make informed career choices and use education effectively to achieve their goals,” said Rachit Agrawal, Co-founder, AdmitKard.

The company has built an intelligent match-making layer using millions of data points gathered over the years and constantly refreshed. AdmitKard has developed a very tight-knit community of Mentors (current international students) who guide these students and their parents by sharing their experiences, as data is insufficient to provide assurance and trust in such a pivotal life decision.

“We are thrilled to have GSV Ventures on board as we continue to build and scale AdmitKard. This funding will allow us to accelerate our growth and invest in our technology and product offerings, enabling us to better serve our students and partners,” said Piyush Bhartiya, Co-founder of AdmitKard. “As the world becomes more connected and global, education is becoming increasingly important, and AdmitKard is at the forefront of helping students navigate this complex landscape. We are excited to support AdmitKard in their mission to make education more accessible and help students achieve their dreams,” added Deborah Quazzo, Managing Partner of GSV Ventures.

Ayatana Hospitality strengthens its presence across South India

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February 22, 2023

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With the announcement of the Ooty expansion, Ayatana Hospitality, known for its luxurious resorts and hotels, will likely open seven new properties by 2024. The company has completed five years in the hospitality industry.

Ayatana, launched in 2017 as Plus Hotels, decided to expand and build on the Ayatana, Coorg chain of resorts. Along with the luxurious resorts, Ayatana launched Azora by Ayatana in 2022 – a WelcomHeritage Hotel imbibed with countless cultures’ legacies.

Ayatana planned to expand its footprint across South India as the Coorg project gained tremendous popularity. The Ooty project is their latest launch as Ayatana prepares to enter Araku Valley in Andhra Pradesh later this year.

With Coorg and Azora, the company witnessed rapid growth until 2022, generating an average annual revenue of about 60 Crores. By the end of 2024, the company aims to increase it to 100 Crores. Ayatana’s MOU with ITC enabled the establishment of 5 resorts in Karnataka, Kerala, and Tamil Nadu as an authorized brand partner with ITC Hotels under the brand WelcomHeritage. The luxury resort and hotel chain has also seen a surge in visitors, employee engagement, and hiring activities.

Commenting on Ayatana’s expansion, Vishal Tony, its founder, “Since opening its doors in 2018, Ayatana Coorg has symbolized a union between Indian heritage and the timeless beauty of nature. At Ayatana, our aim is for people to discover a captivating blend of traditional culture and luxury comfort spread over a hundred acres of endless lush, amidst waterfalls and mists. Here, people’s care becomes our responsibility and unexpressed wishes are fulfilled making each day more memorable than the last.”

In the South Indian states of Arakku Valley, Kabini, Chikmagalur, Vagamon, Kochi, and Goa, Ayatana plans to develop luxury resorts and hotel chains. Each subsequent development will have a specific theme and remain committed to Ayatana’s name by portraying it as a “sanctuary of senses.”

McKinsey to cut over 2,000 jobs in biggest round of layoffs

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February 22, 2023

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McKinsey & Company, a consulting firm, plans to restructure by cutting around 2,000 jobs. This is one of the company’s biggest layoffs ever. According to Bloomberg, the current round of layoffs will affect its non-client-facing support staff, as reported by Bloomberg.

The layoffs are a part of Project Magnolia, which the firm hopes will help preserve the compensation pool of its partners, according to the report.

The company is also looking to restructure how it organizes its support team to centralize some roles.

The job cuts are likely to be finalized in the upcoming weeks.

According to reports, McKinsey employed over 45,000 people, up from around 28,000 five years ago and 17,000 in 2012.

The firm posted a record $15 billion in revenue in 2021 and surpassed that figure in 2022.

The move comes after Bob Sternfels took the global managing partner role two years ago, following a vote by its nearly 650 senior partners to oust his predecessor, Kevin Sneader.

Several big companies, including the tech giants Amazon and Microsoft, announced job cuts earlier. In addition, known banks like Morgan Stanley, Goldman Sachs, and others have been laying off thousands of employees.

FreshToHome raises $104mn in its Series D round

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February 22, 2023

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Bengaluru-based fish and meat retailer FreshToHome has raised $104 million in its Series D round of funding led by Amazon Smbhav Venture Fund. New investors in the round include Dubai-based E20 Investment Ltd, Bengaluru-based Mount Judi Ventures, and Jeddah-based Dallah Albaraka.

This is the Amazon Smbhav Venture Fund’s first investment in a direct-to-consumer retail brand. Apart from investing in the agritech and healthcare industries, the $250 million fund’s primary focus is often on accelerating small and medium-sized businesses.

Returning investors, including Iron Pillar, Investcorp, Investment Corporation of Dubai, and Ascent Capital, among others, also participated in the round.

According to data research platform Tracxn, the direct-to-consumer brand for fish and meat is currently valued at $566 million.

“We opened up nearly 100 cities in the last 18 months, and we plan on deepening our penetration. The UAE contributes nearly 10% to 15% of our revenues and India is the largest exporter of fish and meat to the geography. We would like to utilize part of the capital to expand in the country,” said CEO and Co-founder Shan Kadavil.

The company plans to use the capital to expand its presence in Saudi Arabia and the Middle East and North Africa (MENA). In 2019, FreshToHome launched in the UAE.

OYO plans to double premium hotels in India in 2023

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February 21, 2023

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Oyo announced its plan to double the number of premium hotels in India, adding around 1,800 such hotels in 2023. The company’s premium hotel brands include Capital O, Collection O, OYO Townhouse, and Townhouse Oak.

Now, OYO operates 1,800 luxury hotels throughout India. By expanding its presence in all major business cities, the move aims to take advantage of the rise in business travel.

“OYO plans to add approximately 1,800 premium hotels this year,” the hospitality tech platform said.

The expansion will focus on key business cities, including Bengaluru, Hyderabad, and Chennai in South India, Delhi and Noida in North India, Kolkata in East India, and Mumbai in West India.

The company began focusing on premium hotels when OYO added more than 400 premium hotels between October and December 2022.

“We are seeing a clear trend of people’s willingness to spend more on experiences. Therefore, hotels are now offering additional services and amenities to enhance the travel experience and make it more convenient for guests. Our expansion plan focusing on the growth of premium hotels is aligned with this trend,” Anuj Tejpal, Chief Merchant Officer at OYO, said.

In the last few months, the demand for hotels in the premium segment has seen a noticeable rise.

The rise in domestic leisure travel, transient travel, pent-up demand from the meetings, incentives, and weddings segment, and the gradual recovery in corporate travel and foreign tourist arrivals could be attributed to this.

ICRA stated in a report that the country’s pipeline of hotel rooms is expected to expand at a five-year CAGR of 3.5-4%, adding roughly 15,000 rooms to the approximately 94,000 rooms in the pan-India premium inventory in FY23.

The credit rating agency said in the report that Pan-India premium hotel occupancy is expected to be 68-70% for FY23.

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