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WeWork India turns profitable, posts Rs 17-Cr profit in December quarter

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Karan Virwani, Managing Director & CEO of WeWork India

Realty firm WeWork India on Tuesday reported a consolidated net profit of Rs 16.78 crore in the third quarter of the current fiscal year, driven by higher revenue.

In contrast, the company had recorded a net loss of Rs 83.11 crore in the same quarter last year, highlighting a sharp year-on-year turnaround.

According to a regulatory filing, total income increased to Rs 643.81 crore during the October–December period, compared with Rs 508.37 crore in the corresponding quarter of the previous fiscal.

However, on a cumulative basis, WeWork India reported a net profit of Rs 9.04 crore in the first nine months of this fiscal year, down from Rs 91.45 crore in the year-ago period.

Meanwhile, total income for the April–December period rose to Rs 1,775.07 crore, up from Rs 1,469.13 crore in the corresponding period of the previous year, reflecting steady topline expansion.

Established in 2017, WeWork India operates across eight cities—Chennai, New Delhi, Gurugram, Noida, Mumbai, Bengaluru, Pune, and Hyderabad. Currently, the company runs 73 operational centres, collectively covering 8.2 million square feet of area.

Commenting on the performance, Karan Virwani, Managing Director & CEO of WeWork India, said the company’s focus continues to remain on profitable growth, technology-led differentiation, and sustainable portfolio expansion.

“With a robust supply pipeline, diversified enterprise client base, and improving unit economics, WeWork India is well-positioned to sustain growth momentum and continue delivering long-term value to its stakeholders,” he added.

Notably, during the 2024–25 fiscal year, the company posted a net profit of Rs 128.18 crore on revenue of Rs 2,024 crore, reinforcing its improving financial trajectory.

WeWork India’s return to quarterly profitability, coupled with consistent revenue growth and operational scale, signals strengthening fundamentals. As the company sharpens its focus on efficiency, technology, and portfolio expansion, it appears well placed to sustain long-term, profitable growth in India’s evolving flexible workspace market.

AI chip startup Ricursive Intelligence hits $4 Bn valuation

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Azalia Mirhoseini & Anna Goldie, co-founders, Ricursive Intelligence

Ricursive Intelligence, a startup focused on building an AI system that designs and automatically improves AI chips, has raised $300 million at a $4 billion valuation, marking a major early-stage funding milestone. The company confirmed that Lightspeed led the round, underscoring strong investor confidence in its ambitious vision.

According to the company, Ricursive is developing a system that can create its own silicon substrate layer and rapidly accelerate AI chip improvements. Consequently, the founders believe this continuous, self-improving loop could eventually push the system toward artificial general intelligence (AGI).

Notably, this Series A round closed just two months after Ricursive formally launched, following a seed investment led by Sequoia. As a result, the startup has now raised $335 million in total funding, according to reports.

Ricursive Anna Goldie (CEO) and Azalia Mirhoseini (CTO), both former Google researchers, founded the company to commercialize their cutting-edge research. Importantly, their work on a novel reinforcement learning method for designing chip layouts—known as AlphaChip—has already powered four generations of Google’s TPU chips, according to the startup.

In addition to Lightspeed, the funding round also attracted prominent investors such as DST Global, Nvidia’s venture capital arm NVentures, Felicis Ventures, 49 Palms Ventures, and Radical AI, further strengthening Ricursive’s strategic backing.

Meanwhile, these two companies are not alone in pursuing this emerging category. As previously reported, Naveen Rao’s AI hardware startup, Unconventional AI, is also developing an intelligent substrate. In December, the company raised a $475 million seed round at a $4.5 billion valuation, with Andreessen Horowitz and Lightspeed Ventures leading the round, alongside Lux Capital and DCVC.

Ricursive Intelligence’s rapid fundraising and bold technological roadmap highlight growing investor conviction in AI systems that design and improve their own hardware. As multiple well-funded startups converge on this self-improving AI paradigm, the race to redefine chip design and push the boundaries of AI capability is clearly accelerating.

Healthcare startup Nivaan Care raises $7 Mn in funding to strengthen clinical & operational infrastructure

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Nivesh Khandelwal and Vishwas Singh, co-founders, Nivaan Care

Single-specialty interventional pain management chain Nivaan Care has raised USD 7 million in a Series A funding round led by Sorin Investments, marking a key milestone in its growth journey.

Additionally, existing investors W Health Ventures, Endiya Partners, and Rebright Partners also participated in the round, reaffirming their confidence in the company’s model and execution.

With this fresh capital, the Delhi-based health-tech startup plans to expand its clinic network across multiple Indian cities. At the same time, the company aims to strengthen its clinical and operational infrastructure and further develop minimally invasive pain management procedures.

This round follows Nivaan Care’s USD 4.25 million seed funding raised in February 2025, which Endiya Partners led with participation from W Health Ventures. Together, these investments significantly enhance the company’s ability to scale its specialized care delivery model.

Founded in 2023 by Nivesh Khandelwal and Vishwas Singh, Nivaan Care focuses on non-surgical and minimally invasive treatments for chronic pain. The startup operates single-specialty clinics that address conditions such as back, knee, and neck pain through a multidisciplinary care model.

Notably, Nivaan Care brings together pain physicians, physiotherapists, psychologists, nutritionists, and care coordinators, who collaborate to deliver personalized treatment plans. Currently, the company operates clinics across Delhi-NCR and Mumbai, while also serving satellite markets such as Jaipur and Lucknow.

According to the startup, it has already completed over 40,000 patient consultations and performed around 5,000 minimally invasive procedures. Moreover, a significant proportion of patients have reported noticeable pain reduction and improved daily functioning following treatment.

“Chronic pain affects nearly one in five adults in India, yet care delivery remains fragmented, often oscillating between basic physiotherapy and invasive surgery,” said Nivesh Khandelwal, co-founder and CEO of Nivaan Care. He added, “At Nivaan, we are building a dedicated, evidence-led middle layer of care that focuses on minimally invasive interventions, such as radiofrequency ablation and platelet-rich plasma therapy, delivered through a multidisciplinary model.”

Meanwhile, Vishwas Singh, co-founder and COO, emphasized operational rigor as the company scales. “As we scale, our focus is on execution excellence, strong operating systems, and seamless patient journeys across locations,” he said, while also noting that the company plans to enter new markets, including Bengaluru.

Importantly, the founding team brings deep experience in scaling healthcare and consumer-focused businesses. Previously, Khandelwal served as chief operating officer at Ridge IVF, while Singh held leadership roles at Tata 1mg and Shuttl, equipping them with operational and consumer-tech expertise.

Overall, Nivaan Care’s latest funding round positions it strongly to address India’s growing chronic pain burden through specialized, minimally invasive, and evidence-led care. As the company expands into new cities and refines its operating model, it aims to emerge as a leading national platform in interventional pain management.

DLF to enter senior living segment with Rs 2,000-Cr project in Gurugram

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Ashok Tyagi, Managing Director, DLF

Real estate major DLF Ltd. announced that it will launch a senior living housing project in Gurugram during the current quarter, with an estimated revenue potential of around Rs 2,000 crore, as part of its broader expansion strategy. With this planned launch, India’s largest real estate developer will formally enter the senior living housing segment.

During a conference call with analysts, DLF Ltd. Managing Director Ashok Tyagi stated that housing demand in Gurugram, the company’s core market, continues to remain strong. Moreover, he highlighted that demand remains particularly resilient for credible and established developers.

Despite softer sales performance in the December quarter, Tyagi expressed confidence in the company’s ability to achieve its annual targets. “We stay confident to meet the original sales bookings guidance,” Tyagi told analysts. He further confirmed that the company will soon launch the senior living project in Gurugram, which carries an estimated sales value of Rs 2,000 crore.

Later in the year, DLF Ltd also plans to introduce additional projects across Gurugram, Mumbai, Panchkula, and Goa, thereby strengthening its residential portfolio across key domestic markets.

Meanwhile, DLF Ltd reported a 16 percent decline in sales bookings to Rs 16,176 crore during the first nine months of the current fiscal year, compared to Rs 19,187 crore in the corresponding year-ago period. However, during the 2024–25 financial year, the company achieved a record-high sales booking of Rs 21,223 crore, underscoring the underlying strength of its business.

DLF Group primarily operates in the development and sale of residential properties, which constitutes its Development Business, and in the development and leasing of commercial and retail assets, which forms its Annuity Business. To date, the group has developed more than 185 real estate projects, covering a total area exceeding 352 million square feet.

With the upcoming senior living project and a robust pipeline across multiple cities, DLF Ltd continues to reinforce its long-term growth strategy. By diversifying into emerging residential segments while leveraging its strong brand credibility and execution capabilities, the company aims to sustain leadership across India’s evolving real estate landscape.

Proptech firm PropertyPistol raises ₹25-Cr in pre-Series B funding to expand Dubai and NCR real estate operations

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Ashish Narain Agarwal, Founder and Managing Director, PropertyPistol

PropertyPistol, a rapidly scaling, technology-enabled real estate transaction and distribution platform, has raised ₹25 crore in a Pre-Series B funding round led by prominent equity investor Ashish Kacholia, with continued participation from existing investors.

Notably, this investment underscores strong institutional confidence in PropertyPistol’s differentiated business model, disciplined execution, and long-term leadership potential within the real estate distribution ecosystem.

The newly raised capital will drive PropertyPistol’s expansion into the Dubai real estate market, thereby strengthening developer partnerships and enabling deeper cross-border investment participation. At the same time, the company will enhance market penetration and operational capabilities across the Delhi-NCR region, one of India’s most active residential property markets.

Additionally, PropertyPistol will accelerate the expansion of its syndication-led distribution network and advance its technology stack to deliver greater transparency, richer data intelligence, and improved transaction efficiency for customers, developers, and channel partners.

Commenting on the development, Ashish Narain Agarwal, Founder and Managing Director, PropertyPistol, stated, “The fundraise serves as a strategic accelerator aligned with our ambition to build a future-ready, scalable, and high-governance distribution platform. Our syndication model, powered by intelligent technology, is reshaping real estate distribution and unlocking structured value for all stakeholders. Dubai continues to dominate global property investments, and NCR represents India’s strongest demand engine; therefore, strengthening both markets forms the backbone of our growth architecture.”

He further added, “The industry is entering a consolidation-led era where scale, transparency, and technology capability will determine category leadership. This capital empowers us to enhance partner collaboration, invest in automation frameworks, and build a highly efficient transaction ecosystem designed for sustainable growth.”

Speaking on the investment, Ashish Kacholia, Lead Investor, noted, “PropertyPistol has demonstrated strong execution discipline, scalability, and a distinctive operating model capable of capturing high-value opportunities across both domestic and international markets. The syndication network combined with technology-led enablement positions the company to scale profitably and competitively.”

With this investment, PropertyPistol now positions itself to build a robust cross-border real estate distribution corridor. Consequently, the company aims to consolidate its market leadership across premium domestic clusters and global transaction hubs.

Brookfield Properties unveils The Nutcracker at Downtown Powai

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Brookfield Properties has announced the launch of The Nutcracker Downtown Powai, thereby reinforcing its vision of curating high-quality, experience-led food and beverage destinations across Mumbai. Moreover, the launch adds a significant marquee brand to Downtown Powai’s expanding dining portfolio, positioning the development as a dynamic social and lifestyle hub for the surrounding community.

Spanning over 100 seats, the outlet stands as The Nutcracker’s largest location in the city and delivers an expansive, immersive all-day dining experience. Furthermore, the restaurant seamlessly transitions from breakfast and brunch service to evening cocktails and dinners while introducing an exclusive cocktail menu, a stylish bar setting, and a refreshed interpretation of the brand’s well-known comfort food philosophy, according to the release.

Reflecting The Nutcracker’s signature design language, the Downtown Powai outlet blends earthy, natural textures with bold statement elements such as oversized lamps, rope-suspended swings, and a striking central metal light installation. Additionally, the open-air, pet-friendly section features abundant greenery and natural light, creating an ideal setting for sunny breakfasts and relaxed gatherings, complemented by playful touches including comic books and a foosball table.

Commenting on the launch, Nitin Bir, Vice President – Retail Leasing, Brookfield Properties, said, “At Brookfield Properties, our focus is on building destinations that go beyond commercial spaces to become vibrant lifestyle hubs. The Nutcracker’s entry at Downtown Powai aligns perfectly with our vision of curating best-in-class F&B experiences that resonate with the city’s evolving consumer preferences. This launch further reinforces Downtown Powai’s positioning as a go-to dining and social destination in Mumbai.”

Speaking about the launch, founder Annie Bafna said, “Powai gave us the opportunity to create our largest and most immersive space yet, one that stays true to our comfort-first philosophy while offering guests more room to gather, unwind, and connect.”

With the addition of The Nutcracker, Brookfield Properties–Downtown Powai continues to strengthen its position as a premium lifestyle destination. Consequently, the development brings together carefully curated dining, social, and community-led experiences under one roof, the release added.

Sterling Holiday Resorts expands Rajasthan footprint with Amargarh Jodhpur launch

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Sterling Holiday Resorts has announced the launch of Sterling Amargarh Jodhpur, thereby expanding its presence in Rajasthan and strengthening its portfolio of large-format destination resorts. Located on Pal Road within Jodhpur city limits, the resort provides convenient access to prominent heritage attractions while actively catering to leisure travellers, destination weddings, and corporate events.

Moreover, Sterling Amargarh Jodhpur spans expansive landscaped grounds and draws inspiration from the architectural and cultural heritage of the Marwar region. Consequently, the resort positions itself to host family vacations, large social celebrations, and business gatherings, supported by its scale and comprehensive event infrastructure.

Commenting on the launch, Vikram Lalvani, Managing Director & CEO, Sterling Holiday Resorts, said, “Rajasthan remains a cornerstone of Sterling’s destination strategy, and Jodhpur is one of its most compelling cultural anchors. With Sterling Amargarh Jodhpur, we are introducing a resort that brings scale and versatility into a heritage setting—making it equally relevant for leisure travellers, large celebrations, and corporate events. This launch reflects our focus on building destination-led resorts that combine local character with the reliability of a national hospitality network.”

In addition, the resort offers rooms and suites across Classic, Premier, and Suite categories to address diverse guest preferences. Furthermore, the property features two indoor banquet halls—Kesari and Marwar—along with Rajwada – The Lawns, which support weddings, social functions, and corporate programmes.

At the same time, the resort presents multiple dining experiences, including Sangri—The Flavours of Rajasthan, an all-day restaurant that serves regional specialties alongside global cuisine, as well as curated courtyard dining spaces. Meanwhile, leisure amenities include an outdoor swimming pool, cultural performances, and dedicated family-focused areas.

Sharing his perspective, Anil Garg, Managing Director, Neha Enterprise, said, “Amargarh has long been a part of Jodhpur’s hospitality landscape, and this association marks an important new chapter for the resort. Partnering with Sterling allows us to strengthen the property with wider national distribution, consistent service standards, and deeper experience in destination-led stays and celebrations, while preserving the authentic Rajasthani character that defines Amargarh. We see this as a meaningful step in positioning the resort for the next phase of growth.”

Finally, the resort integrates into Sterling’s broader Rajasthan network, which enables multi-city itineraries linking Jodhpur with Udaipur, Pushkar, and Jaisalmer. As a result, the portfolio actively supports extended wedding circuits and leisure travel across the state.

Legal AI startup Harvey acquires Hexus to accelerate product innovation amid rising legal AI competition

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Winston Weinberg, CEO & Co-Founder, Harvey

Harvey, a fast-rising legal AI startup, has acquired Hexus, a two-year-old company that develops tools for creating product demos, videos, and user guides. Through this acquisition, Harvey continues its aggressive expansion strategy as competition intensifies across the legal technology market.

Hexus founder and CEO Sakshi Pratap confirmed that the San Francisco–based team has already joined Harvey. Meanwhile, the company plans to onboard Hexus’s India-based engineers once Harvey establishes its Bangalore office. In addition, Pratap will lead an engineering group focused on accelerating Harvey’s product development for in-house legal teams.

“What we’re bringing to Harvey is deep experience building enterprise AI tools in adjacent problem spaces,” Pratap said. “This expertise helps Harvey move faster in a market that’s becoming increasingly competitive.”

Before the acquisition, Hexus raised $1.6 million from Pear VC, Liquid 2 Ventures, and several angel investors. Although Pratap declined to disclose the financial terms of the deal, she noted that the transaction structure prioritized “long-term team incentives.”

Meanwhile, the acquisition supports Harvey’s broader push to strengthen its position as one of the most closely watched AI startups globally. Last fall, the company confirmed an $8 billion valuation following a $160 million funding round, bringing its total capital raised in 2025 to $760 million. Andreessen Horowitz led the round, with participation from new investors T. Rowe Price and WndrCo, alongside existing backers Sequoia Capital, Kleiner Perkins, Conviction, and angel investor Elad Gil. Earlier in the year, Harvey secured a $3 billion valuation after Sequoia Capital led a $300 million Series D round.

Currently, Harvey serves more than 1,000 clients across 60 countries. Notably, its customer base includes a majority of the top 10 law firms in the United States.

Previously, co-founder and CEO Winston Weinberg traced Harvey’s origins to a cold email sent to OpenAI CEO Sam Altman. At the time, Weinberg worked as a first-year associate at O’Melveny & Myers, while co-founder Gabe Pereyra conducted AI research at Google DeepMind and Meta and shared an apartment with Weinberg. Together, they tested GPT-3 on landlord-tenant law questions sourced from Reddit.

When the founders presented the AI-generated responses to practicing attorneys, two out of three said they would send 86 out of 100 answers without making any edits. “That was the moment when we were like, Wow, this entire industry can be transformed by this technology,” Weinberg said.

The founders emailed Altman on July 4, 2022, secured a call the same morning, and soon received their first investment from the OpenAI Startup Fund. According to Weinberg, the OpenAI Startup Fund continues to rank as Harvey’s second-largest investor.

Thomas Cook’s experiential brand Nature Trails expands portfolio with fifth resort launch in Rishikesh

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Nature Trails—Thomas Cook (India) Limited’s experiential hospitality brand—has strengthened its footprint with the launch of its fifth resort, Nature Trails Rishikesh, located in Uttarakhand. With this addition, the brand continues to scale its experiential travel offerings across high-potential leisure destinations in India.

Currently, Nature Trails operates four resorts across Durshet, Sajan, and Kundalika in Maharashtra, as well as Rock Valley in Goa. Strategically positioned between Rishikesh and Haridwar, the new property benefits from proximity to two of India’s most prominent spiritual and adventure tourism hubs. Moreover, the resort spans four acres of verdant greenery in the Chilla region, near the entry point to Rajaji National Park, and caters to travellers seeking a balance of spiritual exploration and offbeat adventure.

Designed to deliver a nature-centric stay, Nature Trails Rishikesh features 29 well-appointed rooms with private balconies and sit-out areas. In addition, expansive lawns and palm-lined pathways enhance the serene Himalayan setting, offering guests a refreshing escape from urban environments.

Beyond the property, guests can immerse themselves in Rishikesh’s spiritual heritage through visits to Laxman Jhula, Tapovan, and the iconic Ganga Aarti at Triveni Ghat. At the same time, adventure and nature enthusiasts can access experiences such as safari rides through Rajaji National Park, riverside walks, white-water rafting, guided nature trails, and outdoor exploration led by local experts.

Within the resort, guests can relax through poolside experiences overlooking mountain views, tranquil evening walks, and curated dining experiences. The culinary offerings draw inspiration from authentic Garhwali flavours while also featuring popular Indian favourites, thereby creating a stay that seamlessly blends leisure, wellness, adventure, and spirituality.

Furthermore, Nature Trails Rishikesh offers strong connectivity by road, rail, and air. The resort connects efficiently via NH7 and NH34, with regular bus and taxi services from Delhi, Haridwar, and Dehradun. It lies approximately 20 kilometres from Haridwar railway station and around 40 kilometres from Dehradun’s Jolly Grant Airport, making it an accessible destination for families, couples, spiritual travellers, adventure seekers, group retreats, and corporate off-sites.

Commenting on the launch, Mahesh Iyer, Managing Director and Chief Executive Officer of Thomas Cook (India) Limited, highlighted that domestic experiential travel in India continues to gain strong momentum. He noted that travellers increasingly seek immersive stays combining relaxation, adventure, gastronomy, and spirituality. He further stated that the Rishikesh property strengthens Nature Trails’ value proposition by offering curated, locally rooted experiences that integrate both adventure and spiritual tourism.

Additionally, he shared that Thomas Cook has pursued an aggressive expansion strategy since acquiring Nature Trails last year. He added that the Rishikesh launch follows the recent opening of the brand’s resort in Ponda, Goa, with several more properties planned for rollout in the coming weeks and months.

The launch of Nature Trails Rishikesh marks a significant milestone in Thomas Cook India’s experiential hospitality journey. By combining spiritual discovery, nature-driven adventure, and thoughtfully designed stays, the resort aligns with evolving domestic travel preferences. As experiential and destination-led tourism continues to rise, Nature Trails is positioning itself as a strong player in delivering immersive, locally inspired travel experiences across India.

Capital One to acquire Brex in $5.15 Bn deal to expand business payments push

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Richard Fairbank, Founder and CEO, Capital One

Capital One announced that it has agreed to acquire San Francisco–based fintech company Brex in a $5.15 billion stock-and-cash transaction. Through this deal, Capital One aims to deepen its presence in business payments and expense management while competing more directly with software-led financial platforms.

With this acquisition, Brex will integrate into one of the largest financial institutions in the United States. As a result, the deal highlights the increasing pressure on traditional banks to deliver the speed, automation, and flexibility that fintech firms already offer. “Acquiring Brex accelerates this journey, especially in the business payments marketplace,” Richard Fairbank, Capital One’s founder and CEO, said in a statement.

Previously, in September 2025, Brex revealed plans to introduce native stablecoin payments, starting with USDC. Through this initiative, the company intended to allow customers to pay balances, send payments, and receive funds with automatic conversion into U.S. dollars. According to Brex, this feature enables businesses to manage both conventional and stablecoin-based spending through a unified platform.

Founded in 2017, Brex initially focused on issuing corporate cards to startups that struggled to access services from traditional banks. Over time, however, the company broadened its offering significantly.

“We started Brex in 2017 by inventing a new category of company that brings together financial services and software into one platform,” Pedro Franceschi, Brex’s founder and CEO, wrote on X. “Brex serves tens of thousands of businesses today, from one in three startups in the U.S. to some of the most important enterprises on the planet.”

Subsequently, Brex expanded into expense management, digital banking features, and AI-powered tools designed to optimize corporate spending. Franceschi emphasized that the acquisition reflects a growth-oriented partnership rather than a conventional consolidation.

“This combination is unlike any other bank M&A in history,” Franceschi said. “This story is about growth acceleration and two founder-led companies coming together to bring a better way to manage money to millions of businesses in the mainstream U.S. economy, who are dramatically underserved by traditional banks.”

In parallel, Brex has increasingly positioned artificial intelligence as a foundational layer of its financial platform. The company actively uses AI to categorize expenses, enforce spending controls in real time, and flag anomalies for review. Additionally, Brex provides an AI assistant that automates routine processes such as receipt matching and expense reconciliation.

Although Capital One has not disclosed specific plans to integrate Brex’s AI capabilities into its existing commercial banking products, the company confirmed that leadership continuity will remain intact. Following regulatory approvals, Franceschi stated that he will continue to serve as Brex’s CEO after the transaction closes.

Capital One’s acquisition of Brex marks a significant step in the convergence of traditional banking and fintech-driven innovation. By combining Capital One’s scale with Brex’s software-first, AI-enabled platform, the deal positions both companies to accelerate growth and better serve underserved business customers. As banks increasingly adopt technology-led strategies, this transaction underscores how partnerships between incumbents and fintech firms are reshaping the future of business finance.

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