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TGI Hotels Strengthens Central India Footprint with Two New Fressotel Properties in Bhopal and Maheshwar

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Madhya Pradesh, India – TGI Hotels is reinforcing its presence in Central India with the signing of two new Fressotel properties in Bhopal and Maheshwar, Madhya Pradesh. These projects are part of the company’s ongoing expansion across northern and southern India.

“We are on an expansion spree in South and North India, and these two new properties mark a significant step in strengthening TGI Hotels’ presence in key Tier-II destinations,” said Amit Kumar, Chief Marketing Officer, TGI Hotels.

Bhopal – Greenfield Project

The property, TGI Hotels’ first Greenfield project in Bhopal, is strategically located to serve both business and leisure travellers. It will feature well-appointed rooms, a restaurant, banquet/conference hall, and a gym, offering a modern and comfortable stay experience.

Maheshwar – Under-Construction Project

Located just 1 km from Narmada Ghat, this property blends heritage with modern hospitality. Guests will enjoy thoughtfully designed rooms, a rooftop restaurant, banquet hall, and gym, reflecting Maheshwar’s cultural and spiritual charm.

“These projects align with our focus on providing consistent service, comfort, and value to our guests while partnering with owners to create successful hospitality assets,” said Manishekhar Pandey, Regional Director, TGI Hotels.

Both properties are expected to strengthen TGI Hotels’ footprint in Central India and contribute to the region’s growing travel and tourism ecosystem.

About TGI Hotels

TGI Hotels is a fast-growing hospitality group with a strong presence across India, offering a diverse range of experiences through its various brands.ds. With a focus on quality, comfort, and customer satisfaction, TGI continues to expand into strategic markets through management contracts.

Indian space-tech startup GalaxEye to launch world’s first multi-sensor EO Satellite by 2026

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L-R: Suyash Singh, Denil Chawda, Kishan Thakkar, Pranit Mehta, and Rakshit Bhatt, co-founders, GalaxEye

Space-tech startup GalaxEye announced on Monday that it will launch the world’s first multi-sensor Earth Observation (EO) satellite, named ‘Mission Drishti,’ in the first quarter of next year. Furthermore, the launch marks the beginning of its plan to establish a constellation of satellites over the next four years.

The 1.5-meter resolution satellite will empower governments, defence organisations, and industries to conduct advanced geospatial analysis across various domains. In particular, it will support border surveillance, disaster response, defence, infrastructure monitoring, utilities, agriculture, and financial and insurance assessments, thereby delivering real-time structural and environmental insights.

“With Mission Drishti, we are unlocking a new era of actionable data through space exploration. For the first time in the world, we are deploying a satellite that combines multiple sensing technologies on a single platform, enabling us to observe the Earth in ways that were previously impossible,” Suyash Singh, co-founder & CEO, GalaxEye, said in a statement.

The company intends to deploy 8–10 satellites within the next four years.

Weighing 160 kilograms, Mission Drishti stands as India’s largest privately developed satellite and the highest-resolution satellite ever built in the country.

“This mission places India firmly on the global space map and creates a system that turns space technology into intelligence that businesses, governments, and communities can rely on,” Singh said.

Equipped with Synthetic Aperture Radar (SAR) and high-resolution optical payloads, the satellite will provide Earth observation data regardless of weather conditions or time of day. GalaxEye stated that the satellite has undergone rigorous testing, including structural and thermal assessments, to ensure its resilience in the harsh environment of space.

Engineers have designed each satellite in the upcoming constellation as a remote-sensing Earth observation system; moreover, they have fine-tuned it for spatial, spectral, and temporal resolution to capture high-precision imagery.

“With the recent geopolitical events increasing, next generation imaging technologies with AI infusion, we look forward to providing unparalleled imagery intelligence,” Singh said.

“We already have interest from defence and security agencies, utilities, agriculture, and financial companies and we are truly excited about the potential of this technology to transform decision-making and operational efficiency across industries,” Singh said.

Travel tech firm Navan targets $6.45 Bn valuation in upcoming US IPO

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Ariel Cohen and Ilan Twig, co-founders, Navan

Navan, a corporate travel and expense management company, announced plans to pursue a U.S. initial public offering (IPO) targeting a valuation of up to $6.45 billion, which is lower than its 2022 funding round valuation, as it advances its listing plans despite the ongoing U.S. government shutdown.

Based in Palo Alto, California, Navan aims to raise approximately $960 million by offering 36.92 million shares at a price range of $24 to $26 per share. Its shares are expected to begin trading on the Nasdaq under the ticker symbol “NAVN.” The IPO comes amid a rebound in U.S. IPO activity, fueled by easing market volatility, which has bolstered investor sentiment following a period of trade policy uncertainty. The strong market debuts of Alliance Laundry and Phoenix Education Partners highlighted a renewed investor appetite for risk.

However, the U.S. government shutdown poses a potential obstacle to this recovery, as the Securities and Exchange Commission (SEC) is operating with limited staff, suspending IPO reviews and other regulatory approvals.

“The IPO comes amid heightened volatility in equities in general and big weakness in some of this year’s U.S. IPO vintage,” said Josef Schuster, CEO of IPO research firm IPOX. “While IPO sentiment remains positive overall, we expect this to weigh on IPO demand going forward. We therefore believe that issuers need to be flexible to potentially accommodate this changing market environment with more attractive offering terms.”

In 2022, investors valued Navan at $9.2 billion after the company raised $300 million in a Series G funding round.

Founded in 2015 as TripActions by Ariel Cohen and Ilan Twig, Navan initially focused on corporate travel management, aiming to modernize services traditionally offered by companies such as American Express and SAP Concur. Over time, Navan has expanded into corporate payments and expense management, building a global client base that includes Zoom Communications (ZM.O) and Lyft (LYFT.O), according to its website.

Goldman Sachs, Citigroup, Jefferies, Mizuho, and Morgan Stanley are underwriting the IPO.

Accor partners with Mascioni Hotel Collection to elevate hospitality standards

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Accor has announced a global partnership with Standard Textile Co., Inc., appointing the Mascioni Hotel Collection as the preferred luxury linen provider for its premier brands: Fairmont, Sofitel Legend, Sofitel, and MGallery Collection. This collaboration will span over 350 properties worldwide, highlighting Accor’s dedication to enhancing guest experiences through thoughtful design and comfort.

Omer Acar, CEO of Fairmont, said, “Fairmont Hotels & Resorts are always welcoming, approachable and authentic, creating a space where guests feel at home while experiencing something extraordinary. Our collaboration with Mascioni Hotel Collection is a true testament to our shared commitment to excellence.”

As part of the partnership, Accor and Mascioni Hotel Collection have collaboratively created an exclusive line of bed and bath linens, specifically designed to elevate the sense of indulgence in every stay. Moreover, made from premium cotton, the collection delivers exceptional softness and durability, while simultaneously reflecting the unique character of each brand. Specifically, Sofitel and Sofitel Legend evoke timeless French elegance, whereas MGallery Collection introduces a contemporary design edge, and in contrast, Fairmont embodies refined luxury rooted in classic sophistication.

In line with the sustainability and wellness objectives of both Accor and Standard Textile, the Mascioni Hotel Collection holds the OEKO-TEX Standard 100 certification, ensuring that all products are free from harmful chemicals and environmentally safe.

Maud Bailly, CEO of Sofitel Legend, Sofitel, MGallery & Emblems, stated, “Sofitel and MGallery are very proud to partner with Mascioni Hotel Collection, integrating our luxury offerings with the pinnacle of Italian textile artistry. This strategic collaboration redefines in-room elegance and comfort, delivering a truly exceptional guest experience globally.”

Gary Heiman, Chief Executive Officer of Standard Textile, added, “We are thrilled to partner with Accor. Accor’s luxury portfolio epitomizes sophistication, innovation, and personalized experiences, which align perfectly with the brand values of Mascioni Hotel Collection. This partnership allows us to create something truly special, setting a new standard in luxury.”

Founded in 1957 in Italy, the Mascioni Hotel Collection has been synonymous with fine craftsmanship and bespoke textiles for the world’s most prestigious hotels. Since Standard Textile acquired the brand in 2018, it has actively upheld a legacy of Italian excellence and timeless design.

BWH Hotels strengthens tech portfolio with launch of AutoClerk Atlas PMS

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BWH Hotels, the global hospitality group behind WorldHotels™, Best Western® Hotels & Resorts, and SureStay® Hotels, has launched AutoClerk® Atlas, a next-generation Property Management System (PMS) developed in collaboration with HotelKey. This launch represents a major advancement in BWH Hotels’ technology evolution, focused on transforming hotel operations, enhancing guest experiences, and improving efficiency across its international network.

AutoClerk Atlas is a modernized version of the long-standing AutoClerk system, blending BWH Hotels’ deep industry expertise with HotelKey’s advanced cloud-based technology. The partnership combines scalability, reliability, and intelligent automation to deliver a PMS that is simple, powerful, and built for the future of hospitality.

Bill Ryan, Senior Vice President and Chief Technology Officer, BWH Hotels, said, “AutoClerk Atlas marks a pivotal step forward in our journey to reimagine both the guest and hotel team experience. Through partnering with HotelKey, we’re introducing a world-class Property Management System that’s scalable, intuitive, and future-ready.”

Designed to address today’s operational demands, AutoClerk Atlas provides a comprehensive suite of features. It enables one-day onboarding with integrated training modules for quick and efficient adoption. The system streamlines daily operations through automated payments and reconciliation, while offering actionable guest insights that empower hotel teams to deliver personalized service. Additionally, AutoClerk Atlas ensures seamless integration with both existing and third-party systems, providing smooth connectivity across hotel operations.

Aditya Thyagarajan, Co-Founder and President of HotelKey, stated, “We are excited to bring AutoClerk Atlas powered by HotelKey to BWH Hotels, driving operational excellence and delivering a seamless, elevated guest experience.”

Echoing this sentiment, Fareed Ahmad, Co-Founder and CEO of HotelKey, added, “Our partnership with BWH Hotels reflects a shared commitment to innovation and long-term success. We’re focused on delivering a smooth transition and giving hotel teams the tools they need to thrive in an evolving industry.”

With the launch of AutoClerk Atlas, BWH Hotels not only reaffirms its dedication to investing in advanced technology but also actively strengthens its efforts to support growth, enhance guest satisfaction, and further streamline operations across its global network of nearly 4,300 hotels.

Kotak Mahindra Bank unveils BizLabs 2.0 to empower Indian startups

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Kotak Mahindra Bank Ltd. has unveiled Season 2 of its Kotak BizLabs Accelerator Programme, expanding its flagship CSR initiative to support over 75 startups across India through mentorship, market access, and funding opportunities.

The year-long program, scheduled to run from October 2025 to November 2026, will actively collaborate with four leading incubators—IIT Delhi’s Foundation for Innovation and Technology Transfer (FITT), IIMA Ventures, NSRCEL–IIM Bangalore, and T-Hub. Through these strategic partnerships, the initiative will further strengthen its presence across North, South, West, and Central India, ensuring a more inclusive and regionally balanced startup outreach.

Himanshu Nivsarkar, Head of CSR & ESG at Kotak Mahindra Bank, said, “Kotak has always believed in backing the entrepreneurial spirit of India—not just in metros, but in Tier-II and Tier-III cities where innovation is thriving. With Season 2 of the Kotak BizLabs Accelerator Programme, we are scaling our commitment to founders who dare to dream big and build bold.”

This new phase follows a successful debut year, during which the program accelerated 55 startups, offered structured mentorship to emerging entrepreneurs, and distributed ₹5 crore in grants and selective seed funding to 32 ventures. According to Kotak Mahindra Bank, this catalytic capital has helped startups collectively raise over ₹12 crore in follow-on funding.

In the upcoming year, Kotak aims to engage more than 800 startups and fund over 60 ventures, with extensive outreach planned through 20+ cities via roadshows, networking sessions, and workshops.

Anand Sri Ganesh, CEO of NSRCEL, said, “By extending deep mentorship, market access, and catalytic funding to promising startups across diverse sectors, this initiative catalyzes transformative innovation in Tier-II and Tier-III cities.”

Echoing the sentiment, Chintan Bakshi, Partner at IIMA Ventures, stated that the program’s “intensive and structured support” equips founders in smaller cities with access to capital, bootcamps, and local angel investors—“startups leveraging tech to solve some of the toughest social and environmental challenges.”

During its first season, the accelerator supported startups across agritech, climate tech, fintech, edtech, healthcare, sustainability, and indigenous crafts, generating employment and attracting new investments. Season 2 aims to scale that impact by expanding outreach and investment scope.

Kavikrut, CEO of T-Hub, said, “Founders who are building with T-Hub have worked with mentors to refine their growth plans and deployed capital towards creating capabilities. The program has further validated their product–market fit. We are excited to scale this partnership with Kotak.”

Applications for Season 2 are now open to DPIIT-registered startups via the Kotak BizLabs portal.

Mahindra Lifespace to develop ₹3,500-Cr residential project in Pune

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Real estate developer Mahindra Lifespace Developers Ltd has purchased a 13.46-acre land parcel in Pune to build a housing project valued at ₹3,500 crore.

In a regulatory filing on Friday, the company stated that it has acquired the land “in the premier neighbourhood of Nande-Mahalunge in Pune.”

A subsidiary of the Mahindra Group, the company did not reveal the seller’s identity or the transaction amount. However, it mentioned that the land offers a development potential of around ₹3,500 crore.

Additionally, on the same day, Mahindra Lifespace announced plans to redevelop four housing societies in Malad (West), Mumbai, with an expected revenue of ₹800 crore from the sale of free area in these projects.

The company added, “Spread across about 1.65 acre, the project offers a development potential of ₹800 crore.”

Currently, Mahindra Lifespace’s development portfolio covers 49.26 million square feet of completed, ongoing, and upcoming residential projects across seven cities in India. The company also manages over 5,000 acres of ongoing and planned projects within its integrated developments and industrial clusters across four locations.

Tata Power-DDL launches Solar Sakhi Abhiyan

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Tata Power Delhi Distribution Limited, in alignment with the Government of India’s flagship PM Surya Ghar: Muft Bijli Yojana, recently launched the Solar Sakhi Abhiyan-a pioneering initiative dedicated to women’s empowerment and clean energy adoption. The launch event was organized at Pooth Khurd Village on the auspicious occasion of Navratra, a festival that celebrates the power and spirit of women.

The ceremony was graced by Mr. Neeraj Semwal, Secretary (Power), GNCTD; Mr. Ravi Dadhich, Special Secretary (Power); Mr. Kumar Abhishek, District Magistrate (North); Mrs. Anju Aman Dabas, Hon’ble Councillor; Mr. Dwijadas Basak, CEO, Tata Power-DDL; Mrs. Kiran Gupta, Chief Commercial, Tata Power-DDL; Mr. Bharat Chhabra, Chief-SIG, Tata Power-DDL; Mr. Rahul Kumar, Head-Special Customer Management & Solar; and Mr. Shashank Sharma, HoD-G&I, NBS & Solar, along with company officials, village representatives, and community members.

At the heart of the initiative are 100 Solar Sakhi members—women volunteers trained to serve as ambassadors of solar energy in villages. They will spread awareness on rooftop solar benefits, educate households on clean energy solutions, and act as a bridge between government policies and communities in more than 75 villages of Tata Power-DDL. Each Solar Sakhi has been provided with a distinctive jacket, symbolizing pride, leadership, and recognition.

Mr. Neeraj Semwal, Secretary (Power), GNCTD, said, “The Government of Delhi is committed to promoting renewable energy and inclusive growth. Initiatives like Solar Sakhi Abhiyan strengthen this vision by ensuring that women, the backbone of our society, play a leading role in spreading the benefits of rooftop solar. This step will not only reduce dependency on conventional energy but also contribute to the larger mission of sustainable development.”

Mrs. Anju Aman Dabas, Hon’ble Councilor, Pooth Khurd, said, “As Tata Power-DDL has been taking many initiatives of sustainability, especially Rooftop Solar, and creating awareness among communities, the launch of the Solar Sakhi campaign is a commendable effort. It reflects Tata Power-DDL’s commitment to both women-centric development and environmental responsibility. Our village is proud to be the starting point of such a meaningful initiative.”

Speaking at the launch, Mr. Dwijadas Basak, CEO, Tata Power-DDL, said, “Our vision has always been to merge sustainability with inclusivity. The Solar Sakhi Abhiyan reflects Tata Power-DDL’s strong belief in women-led progress. By enabling women to become ambassadors of solar energy, we are nurturing leaders who will guide communities toward a cleaner and brighter tomorrow.”

Speaking at the launch, Ms. Kiran Gupta (Chief-Customer Experience, Commercial & Govt. Affairs, EAC & Consumer Litigation), Tata Power-DDL, said, “The launch of the Solar Sakhi Abhiyan marks a significant step towards sustainable and inclusive growth. Empowering women to become ambassadors for rooftop solar strengthens the Delhi Government’s vision of renewable energy adoption and also reflects Tata Power-DDL’s commitment to women-led community progress and environmental responsibility. Solar Sakhi will inspire households to embrace clean energy, reduce reliance on conventional power, and pave the way for a brighter, greener tomorrow.”

The campaign, driven through Tata Power-DDL’s Village Customer Group (VCG) Solar, aspires to strengthen women’s role in sustainable development while contributing to India’s clean energy mission.

Hunger Inc raises Rs 215-Cr to accelerate growth and expansion

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Sameer Seth(Left) & Yash Bhanage(Right), co-founders, Hunger Inc.

Hunger Inc, the parent company of Bombay Sweet Shop and restaurant brands including Bombay Canteen, Veronica’s, O Pedro, and Papa’s, has raised Rs 215 crore in fresh funding, cofounder Sameer Seth confirmed. The investment saw Lighthouse and DSG Consumer Partners acquire a significant minority stake in the company.

Based in Mumbai, Hunger Inc plans to use the capital to strengthen its production and supply chain capabilities as it expands beyond Mumbai.

“The capital will primarily be used for Bombay Sweet Shop and we’re going to start experimenting with Veronica’s because sandwiches and coffee is a scaleable format,” Seth said, adding that the company will not aggressively expand the Bombay Canteen and O Pedro brands for now. The deal also involved some early investors, including former Tech Mahindra CEO CP Gurnani and a few angels, exiting through secondary transactions.

The company’s existing backer includes the Godrej family office. Bombay Sweet Shop, an omnichannel retail brand for Indian sweets, chocolates, and other confectionery, now accounts for more than half of Hunger Inc’s revenue, Seth noted.

In fiscal 2025, Hunger Inc posted Rs 115 crore in revenue with a 9% EBITDA margin and expects a topline of Rs 150 crore in FY26. “Bombay Sweet Shop is tracking Rs 8-9 crore in monthly revenue,” he added.

Currently operating only in Mumbai, Hunger Inc plans to expand to Delhi with a flagship Bombay Sweet Shop over the next 12–18 months. The brand currently runs five retail outlets and 18 dark stores, delivering directly via its own website as well as through aggregators like Swiggy and Zomato.

Founded in 2015 by Seth, Yash Bhanage, and the late chef Floyd Cardoz, Hunger Inc began with its flagship restaurant The Bombay Canteen, followed by O Pedro, which serves contemporary Goan cuisine. In 2023, it launched Veronica’s, a sandwich and café format aimed at younger consumers, and Papa’s, a 12-seater chef’s table concept.

On the possibility of adding more brands, Seth said, “Never say never, but the short-term focus is on building out the playbook. We’ve done Mumbai well, and Delhi is the next logical step for now. As we build out the supply chain and backend, we’ll see what’s next.”

The funding comes as deal activity in India’s quick service restaurant (QSR) and café sector accelerates. Seth said Hunger Inc is also expanding its B2B and institutional sales, supplying products directly to Starbucks and Oberoi Hotels. Bombay Sweet Shop recently partnered with IndiGo to provide in-flight items for its international business class. However, the company has stayed away from the quick commerce segment.

“Quick commerce is going through its own evolution… till now everyone was fighting for lower price points. One of the players said they were akin to a kirana store. Now, if I won’t list at a kirana store, it doesn’t make sense to be at a kirana store-equivalent channel yet. But now they are recognising the need to push their average order values up. So those conversations will happen in the next 12 months to see how we can do the right thing,” Seth explained.

Ixigo sells 10% stake to Prosus for ₹1,295-Cr to boost AI and hotel expansion

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Aloke Bajpai and Rajnish Kumar, co-founders, Ixigo

Travel tech platform Ixigo has sold a 10% stake to Dutch investor Prosus for ₹1,295 crore, with plans to utilize the funds primarily for investing in artificial intelligence, expanding its hotel business, and pursuing acquisitions.

The company had earlier indicated intentions to sell up to a 16% stake. Ixigo’s parent company, Le Travenues Technology, will issue 46.2 million equity shares at ₹280 per share, including a premium of ₹279, to MIH Investments One BV, a venture capital fund managed by Prosus Ventures.

Following the allotment, Prosus will gain the right to appoint one director to Ixigo’s board, provided its holding remains at or above 10%.

Ixigo’s management noted that while the fresh issue of shares as part of the Prosus investment may dilute near-term returns, the capital is critical for long-term growth. “The plan is to invest in AI at its inflection point, accelerate growth, increase customer lifetime value and deepen operating leverage,” Ixigo stated in its stock exchange filing.

For Prosus, the investment expands its presence in India’s consumer internet sector, where it has backed companies like Flipkart, Swiggy, Meesho, and Urban Company. In the travel segment, Prosus previously invested in Goibibo, and MakeMyTrip later acquired the company.

Ixigo said it aims to increase investments in artificial intelligence (AI) and strengthen its position in the online hotel segment. The company, which went public in 2024, highlighted AI as a key differentiator, emphasizing opportunities in conversational and personalized travel booking systems.

According to the exchange filing, Ixigo will allocate the ₹1,295 crore raised from Prosus across four key areas. The company will use approximately ₹323.9 crore for organic growth, including investments in new AI platforms, technology upgrades, hotel business expansion, and advertising. It will earmark another 25% of the funds for acquisitions, joint ventures, or strategic investments, with the flexibility to redirect any unspent amount back to organic initiatives. Ixigo will also allocate a further ₹323.9 crore to working capital to support its operations across flights, trains, buses, and hotels. The remaining 25% will cover general corporate purposes, such as rentals, staff costs, contingencies, and administrative expenses.

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