Thursday, May 7, 2026
Home Blog Page 99

E-commerce firm Pattern raises $300 Mn in US IPO

By
BRL Editor
-
0
Melanie Alder and David Wright, co-founders, Pattern

Pattern and its existing shareholders secured $300 million through their U.S. initial public offering (IPO) on Thursday, after the e-commerce company priced its shares within the proposed range.

The IPO values the Lehi, Utah-based firm at $2.5 billion. According to its prospectus, Pattern had initially planned to price shares between $13 and $15.

The U.S. IPO market has witnessed a notable revival. In fact, this rebound is supported by stronger equity markets and, moreover, by easing concerns over President Donald Trump’s tariffs. As a result, investor enthusiasm for new listings has surged. Consequently, several high-profile companies have enjoyed strong market debuts in recent weeks.

Shares of Swedish fintech giant Klarna and the Winklevoss twins’ crypto exchange Gemini surged in their recent debuts, highlighting strong investor appetite across diverse sectors.

Pattern, originally launched in 2013 as iServe by founders David Wright and Melanie Alder, operates as an e-commerce accelerator, supporting brands in scaling growth across leading marketplaces including Amazon, Walmart, Target, eBay, TikTok Shop, and Mercado Libre.

The IPO is being led by Goldman Sachs and J.P. Morgan as joint underwriters. Pattern will begin trading on the Nasdaq on Friday under the ticker “PTRN.”

Bluspring strengthens India’s global sporting profile with hospitality partnership at World Para Athletics 2025

By
BRL Editor
-
0
Kamal Pal Hoda, CEO of Bluspring

India’s leading integrated infrastructure management services company, Bluspring, will serve as the exclusive hospitality partner for the IndianOil New Delhi 2025 World Para Athletics Championships, scheduled from September 27 to October 5, 2025, at Jawaharlal Nehru Stadium.

This landmark event marks a historic moment for India, as it will host the World Para Athletics Championships for the first time. Moreover, the tournament will be the country’s largest-ever para-sporting event, featuring over 2,200 athletes and support staff from 104 nations competing in 186 medal events. Consequently, the championship underscores India’s growing confidence and expertise in organizing world-class international sporting events.

As the exclusive hospitality partner, Bluspring will play a key role in ensuring the championship showcases India’s readiness and inclusivity. The company will manage hospitality operations across four major venues: the VIP lounge, international media center, athlete lounge, and spectator areas, delivering services that combine operational efficiency with the warmth of Indian hospitality. Bluspring’s associates have undergone specialized training in para-athlete support, accessibility, and cultural sensitivity, ensuring that every athlete, official, and guest enjoys a seamless and welcoming experience.

“We are honoured to partner with the Paralympic Committee of India for this historic championship,” said Kamal Pal Hoda, CEO of Bluspring. “Events like IndianOil New Delhi 2025 World Para Athletics Championships are more than sporting contests, they are symbols of India’s ambition to emerge as a global host of mega sporting events. At Bluspring, we see our role as an enabler of that ambition: delivering hospitality that is inclusive, world-class, and distinctly Indian. Our philosophy of ‘hospitality for champions, pride for India’ reflects our commitment to strengthening India’s sporting story on the world stage.”

Jayawant Gundu Hamanawar, Secretary General of the Paralympic Committee of India (PCI), said, “Bluspring’s expertise in accessibility-focused hospitality management perfectly aligns with our commitment to providing world-class experiences to all participants and attendees. Bluspring’s comprehensive approach across diverse venue requirements showcases the operational excellence Indian companies bring to global sporting events.”

Bluspring has trained its associates in specialized facility and hospitality management, equipping them with expertise in accessibility, para-athlete support, and international service standards. Furthermore, by delivering integrated and inclusive solutions across sectors, Bluspring continues to actively support India’s ambition of becoming a leading global host for large-scale events.

STAAH empowers Odisha’s Pipul Hotels with advanced channel manager and booking engine

By
BRL Editor
-
0
Shoaib Ali, National Sales Head India at STAAH

STAAH, a global leader in hospitality technology solutions, has partnered with Pipul Hotels & Resorts to strengthen its online presence and streamline operations. By implementing STAAH’s Channel Manager and Booking Engine, the hotel group has centralized management across its eight properties located in Cuttack, Bhubaneswar, Puri, Jharsuguda, and Chilika in Odisha, India. These digital solutions have positively impacted the group’s revenue growth while enabling more efficient and seamless hotel operations.

Subraat Dash, CEO of Pipul Hotels & Resorts, expressed how crucial the partnership with STAAH has been in driving the digital transformation of their business. He stated, “What we were looking for in a technology partner is someone who can maximize our digital outreach and put our operations in order with solutions that are easy-to-use and seamless.”

Through the integration of STAAH’s user-friendly solutions, Pipul Hotels & Resorts has not only simplified distribution but also improved online visibility, ultimately boosting revenue. Moreover, by leveraging STAAH’s technology, the hotel group has been able to operate more efficiently, reduce the risk of overbookings, and, consequently, offer a better experience to guests while simultaneously increasing their digital presence.

A key highlight of the partnership is the implementation of STAAH’s Channel Manager, which serves as a digital distribution hub for Pipul Hotels & Resorts. The system links the group’s properties with multiple Online Travel Agencies (OTAs), including Booking.com, Agoda, and Expedia, providing real-time updates on room availability and pricing.

This integration eliminates the need for manual updates, helping to prevent common issues such as rate discrepancies and overbookings that can arise across multiple platforms. By using STAAH’s Channel Manager, Pipul Hotels & Resorts can maintain consistent inventory, improve operational efficiency, and ensure guests always receive the most accurate and up-to-date information.

While OTAs provide excellent visibility, direct bookings offer hotels higher profit margins. STAAH’s Booking Engine addresses this by being directly integrated into Pipul Hotels & Resorts’ website, enabling guests to reserve rooms straight with the hotel and bypass third-party platforms. This approach reduces commission fees paid to OTAs and helps maximize profitability.

The Booking Engine also features a user-friendly interface, simplifying the booking process and improving conversion rates on the hotel’s website. By leveraging this tool, Pipul Hotels & Resorts has successfully increased direct bookings, driving additional revenue and strengthening customer loyalty.

Shoaib Ali, National Sales Head India at STAAH, noted, “Over the last four years, we have been seeing first-hand how the digital transformation of Pipul Hotels & Resorts has reshaped their business across all their hotels.” The combination of Channel Manager and Booking Engine has allowed Pipul Hotels & Resorts to optimize their distribution, reach a wider audience, and improve operational efficiency.

By integrating STAAH’s digital solutions, Pipul Hotels & Resorts can now efficiently track performance, analyze booking trends, and make data-driven decisions to enhance profitability. This has enabled the hotel group to provide improved guest experiences while simultaneously strengthening their financial performance.

Amid rising tourism demand in Odisha, Pipul Hotels & Resorts is using STAAH’s technology to establish itself as a leading hospitality provider in the region. Known for its rich cultural heritage, scenic beaches, and tourism potential, Odisha is attracting increasing numbers of both domestic and international travelers.

By enhancing their digital presence and adopting smart technology solutions, Pipul Hotels & Resorts is well-positioned to attract more tourists while meeting the growing demand for affordable, high-quality accommodations across the state.

The adoption of STAAH’s Channel Manager and Booking Engine has also enhanced the guest experience at Pipul Hotels & Resorts. Real-time booking updates provide a seamless reservation process, allowing hotel staff to focus on personalized services instead of managing manual inventory. By leveraging automation and digital solutions, the hotel ensures a smooth experience from booking to check-out, improving guest satisfaction and encouraging repeat visits.

Looking ahead, STAAH’s technology integration will continue to play a key role in the growth strategy of Pipul Hotels & Resorts. As the hotel group expands further in Odisha and beyond, it will rely on advanced digital solutions to meet the evolving demands of the tourism market. By embracing progressive technology, Pipul Hotels & Resorts is poised to strengthen its position as a significant player in India’s hospitality sector.

RateGain partners with Oracle to strengthen hospitality distribution

By
BRL Editor
-
0
Bhanu Chopra, Founder and Chairman, RateGain Travel Technologies

RateGain Travel Technologies Limited has announced a partnership with Oracle to integrate its distribution capabilities with Oracle Hospitality OPERA Cloud Distribution. The collaboration is designed to help hotels maximize revenue, minimize errors, and scale operations globally with greater agility.

Through this partnership, RateGain’s UNO Channel Manager, an advanced channel management solution, will be directly accessible to Oracle Hospitality OPERA Cloud Distribution users. This integration enables OPERA Cloud customers to seamlessly connect with RateGain’s network of more than 400 global demand partners within the same ecosystem.

By leveraging UNO Channel Manager, hotels gain near real-time control over their distribution strategies, enhancing speed, scalability, and support. The solution streamlines rate and inventory management, reduces manual errors, prevents overbookings, ensures rate parity, and accelerates entry into new markets.

Bhanu Chopra, Founder and Managing Director of RateGain, emphasized that making UNO Channel Manager available on Oracle Cloud Marketplace and integrating it with OPERA Cloud Distribution will offer hoteliers a unified, intelligent hub to drive revenue, improve efficiency, and respond swiftly to market dynamics.

With a presence in over 100 countries, RateGain partners with more than 3,200 customers and 700 partners, helping them grow revenues through customer acquisition, retention, and share-of-wallet expansion. Founded in 2004 and headquartered in India, the company serves a wide spectrum of travel and hospitality businesses, processing electronic transactions, price points, and travel intent data for hotels, airlines, OTAs, cruise lines, and car rentals. Its clientele includes 26 of the top 30 hotel chains, 25 of the top 30 online travel agencies, 3 of the top 4 airlines, and all major car rental companies, including 15 Global Fortune 500 firms.

Infra.Market raises ₹730-Cr at ₹24,600-Cr valuation in funding round

By
BRL Editor
-
0
L-R: Aaditya Sharda and Souvik Sengupta, Co-founders of Infra.Market

Accel-backed construction materials solutions company Infra.Market has secured ₹730 crore ($84–85 million) in a new funding round. The round was led by Nikhil Kamath’s Nksquared family office, which invested ₹200 crore, while company founders Souvik Sengupta and Aaditya Sharda infused ₹250 crore. Existing investors contributed the remaining ₹280 crore. The latest fundraise values Infra.Market at ₹24,600 crore ($2.8 billion), according to sources.

Infra.Market is preparing to file its draft red herring prospectus (DRHP) with the market regulator in the coming weeks, paving the way for an IPO later this year. The latest round represents the company’s Series G funding, with participation from existing investors such as Accel, Tiger Global, Nexus, and Evolvence. The round strengthens liquidity ahead of the IPO and lifts the founders’ combined stake to nearly 30%, officially recognizing them as promoters. Sources added that both founders secured promoter financing to contribute capital to this round.

Infra.Market ended FY25 with ₹18,000 crore in revenue, an EBITDA of ₹1,500 crore, and a profit after tax (PAT) of ₹300 crore.

As per RoC filings, the company’s revenue grew 23% year-on-year to reach ₹14,530 crore, while its PAT surged 2.5 times to ₹378 crore.

The latest fundraise comes on the heels of Infra.Market’s $150 million debt financing in June from MARS Growth Capital, a joint venture of MUFG Bank and Liquidity Group, as the company prepares for its public listing.

This marks the second funding round this year for the IPO-bound firm, which had earlier raised $120 million from existing backers including Tiger Global, Foundamental, and Evolvence. That round also attracted participation from prominent investors such as Ashish Kacholia, Nikhil Kamath, Abhijit Pai, Sumeet Kanwar, Nuvama, Capri Global, and others.

Established in 2016 by Souvik Sengupta and Aaditya Sharda, Infra.Market operates across the construction value chain, offering more than 15 categories of building materials such as concrete, steel, walling solutions, tiles, paints, and electricals.

The company has built a strong presence with a network of over 250 manufacturing facilities and 10,000 retail touchpoints nationwide.

Serving both institutional clients (B2B) and retail outlets (B2R), Infra.Market positions itself as the second-largest player in India by revenue in the ready-mix concrete (RMC) segment, while also ranking second by capacity in AAC blocks and flooring tiles.

Trifecta Capital raises $25M from IFC to expand fourth venture debt fund

By
BRL Editor
-
0
Rahul Khanna, Managing Partner, Trifecta Capital

The International Finance Corporation (IFC), the private investment arm of the World Bank Group, plans to invest up to $25 million in Trifecta Capital.

The fund provides debt financing to startups from the Series A stage onwards, focusing on sectors such as electric vehicles (EVs), financial services, climate technology, AI infrastructure, manufacturing technology, and agritech. It also aims to expand its reach into consumer, education, and healthcare domains.

IFC stated that the investment aligns with its broader strategy to attract private capital, foster digital innovation, and encourage private sector–driven growth that generates employment. The institution has also set a target of doubling its annual commitments in India to $10 billion by 2030, with increased emphasis on collaborations at the state level.

Trifecta Capital launched its fourth fund with a fundraising goal of up to ₹2,000 crore, including a greenshoe option of ₹500 crore.

Founded in 2015 by Rahul Khanna and Nilesh Kothari, Trifecta Capital has so far raised ₹5,400 crore across four venture debt funds and one growth equity fund. It has deployed about ₹8,700 crore, including recycled capital, across more than 220 companies. Its portfolio includes over 30 unicorns such as Meesho, Zepto, and Urban Company.

“Providing more funding options to innovative startups, including flexible, cost-effective mechanisms like venture debt, is essential for India’s economic growth and job creation,” said Farid Fezoua, IFC global director for disruptive technologies, services and funds.

IFC’s $25 million commitment to Trifecta Capital’s fourth venture debt fund highlights the growing importance of alternative financing in India’s startup ecosystem. The partnership focuses on high-impact sectors like EVs, climate tech, and AI infrastructure and aims to accelerate innovation, create jobs, and drive private sector–led growth. At the same time, Trifecta Capital’s proven track record and expanding portfolio position it as a key player in bridging the financing gap for emerging companies, reinforcing India’s position as a global startup hub.

PlaySuper raises $1 Mn to expand its rewards-as-a-service model in India

By
BRL Editor
-
0
(L-R) Upamanyu Chatterjee (COO), Abhir Das (CBO), and Shouradeep Chakraborty (CEO), co-founders, PlaySuper

PlaySuper, a gaming commerce platform that integrates real-world rewards directly into games, has raised $1 million in a seed funding round to scale its rewards-as-a-service model across India and Southeast Asia.

The round was led by Singapore-based gaming VC Chimera, with participation from Audacity VC, IAN Capital Fund, and Dhruv Vohra, Meta’s Managing Director for APAC Emerging Markets.

Founded by Shouradeep Chakraborty (CEO), Upamanyu Chatterjee (COO), and Abhir Das (CBO), PlaySuper enables mobile games—both free-to-play and skill-based—to embed branded rewards seamlessly, allowing studios to monetise sustainably without interrupting gameplay. Instead of relying on intrusive ads or unstable cash incentives, players can earn rewards such as gift cards or consumer products while playing, boosting engagement and retention.

The startup reports surpassing $350,000 in monthly GMV, with early partners noting substantial gains in both user retention and monetisation.

“Gaming in India and Southeast Asia is at an inflection point. Ads and cash incentives are no longer enough. With PlaySuper, every gaming session becomes a chance to win something aspirational and real, which keeps users engaged while driving commerce at scale,” said Abhir Das, Co-founder & CBO, PlaySuper.

Krish Anurag, General Partner at Chimera, said, “We see gaming commerce as the next big monetisation unlock for emerging markets. PlaySuper has built a category-defining solution that sits at the intersection of gaming, brands, and consumer behavior. Their early traction proves the model, and we believe they are well-positioned to become the backbone of monetisation for free-to-play and skill-based games across India and SEA.”

With its fresh funding and innovative rewards-as-a-service model, PlaySuper is positioning itself as a game-changer in the Indian and Southeast Asian gaming markets. By blending entertainment with tangible rewards, the platform aims to redefine player engagement while offering studios a sustainable path to monetisation.

AI startup Sentient introduces open AGI network for 2 Mn users

By
BRL Editor
-
0
Sandeep Nailwal, co-founder, Sentient

AI startup Sentient unveiled its open-source artificial general intelligence (AGI) network, granting access to 2 million waitlisted users and allowing multiple AI agents to work together in real time.

The company stated that it aims to compete with major players like OpenAI and AWS. Additionally, it is offering its first open AGI network, where over 40 AI agents and models, together with more than 50 data sources, collaborate seamlessly.

“The US-China AI standoff risks locking out the rest of the world. Without a common open base, sovereign models become national silos. Sentient gives India and allied nations the rails to compete, and win, on their own terms,” said Sandeep Nailwal, cofounder of Sentient.

The platform seamlessly connects ecosystem agents operating across various blockchains. Moreover, users can easily access these agents and data sources through Sentient Chat, the AI company’s consumer-facing interface.

Nailwal calls this launch “a pivotal moment where India proves it can define the AI future—not just follow it.”

The company claims that it is capable of generating outputs such as comprehensive investment reports, which not only combine pricing and research but also integrate market data in real time.

“From generating comprehensive financial asset reports to delivering personalised daily news briefings, planning travel, or producing detailed research summaries, Sentient’s spaces demonstrate how agents can be orchestrated into complex, multi-step workflows, going far beyond simple prompt wrapping,” the company said in a statement.

Himanshu Tyagi co-founded San Francisco-based Sentient.

In 2024, Peter Thiel’s Founders Fund, Pantera Capital, and Framework Ventures co-led a seed funding round that secured $85 million for the startup, while other investors also participated.

“We’re proving that open, composable intelligence can out-innovate any single company,” Tyagi said.

“When thousands of developers can contribute specialised agents that automatically work together, you get emergent intelligence that no single closed system can match,” he added.

Unlike traditional closed labs that depend on a limited number of engineers, the company leverages a global network of developers. The model uses a token-based incentive system, rewarding developers with tokens whenever users utilize their agents, models, or data, while allowing users to stake tokens to support the agents they value most.

“Unlike traditional pay-per-API models that charge developers without offering ownership or profit-sharing, Sentient rewards contributors with a direct stake in the network’s growth,” the company said.

MakeMyTrip partners with Zomato to launch on-train meal delivery at 130+ stations

By
BRL Editor
-
0
Raj Rishi Singh, Chief Business Officer (Flights, GCC, Corporate Travel) & Chief Marketing Officer, MakeMyTrip

MakeMyTrip has partnered with Zomato to provide train passengers the ease of getting meals delivered straight to their seats. Through the MakeMyTrip app, travelers booking train tickets can now choose from over 40,000 restaurant partners listed on Zomato, available across 130+ stations.

The opportunity is vast, with over 90,000 rail passengers availing Indian Railways’ e-catering services daily in FY 2024–25, reflecting a 66% year-on-year growth. The travel platform aims to capitalize on this growing demand by offering its ‘Food on Train’ service, covering breakfast, lunch, dinner, and quick snacks. The platform leverages its proprietary ‘Live Train Status’ tool to prompt travelers to place orders at the most convenient time.

After travelers responded positively to the soft launch with Zomato, showing a preference for convenient, travel-friendly meals, MakeMyTrip will capitalize on this momentum by launching targeted campaigns to increase awareness of its on-train food delivery service.

Speaking about the development, Raj Rishi Singh, Chief Business Officer (Flights, GCC, Corporate Travel) & Chief Marketing Officer, MakeMyTrip, said, “Over the past few years, we have been growing faster than the overall industry in the train booking domain, driven by a sustained focus on customer-centric innovations. With the launch of our Food on Train Marketplace, we are taking another step in enhancing the travel experience by giving passengers greater choice and convenience. This collaboration with Zomato builds on that momentum and will contribute to strategically unlocking one of the fastest-growing consumption opportunities in India’s mobility ecosystem.”

Commenting on the development, Rahul Gupta, VP – Product, Zomato said, “Our commitment to ‘Serving India’ drives everything we do, and we are constantly looking for ways to make our customers’ experiences seamless and enjoyable. This collaboration with MakeMyTrip enables train passengers to conveniently order meals from their favourite restaurants through the MakeMyTrip platform, with direct food delivery to their seats. We are truly excited about the value this partnership will bring to our customers.”

For Diwali, travelers booking train tickets through MakeMyTrip will get a complimentary coupon, redeemable for food orders via Zomato, adding extra delight to their journey.

MakeMyTrip elevates every stage of train travel with technology-driven convenience. From pre-booking tools like route guidance and seat forecasts, to booking features such as Seat Lock and Free Cancellation, and post-booking services including Zomato food delivery, live PNR updates, and real-time tracking, MakeMyTrip ensures a seamless journey from start to finish.

Digital credit infra startup FinBox raises $40 Mn in funding

By
BRL Editor
-
0
(L-R) Srijan Nagar, Nikhil Bhawsinka, Anant Deshpande, Rajat Deshpande, cofounders, Finbox

FinBox, a B2B credit infrastructure fintech, has secured $40 million (approximately ₹350 crore) in a Series B funding round led by WestBridge Capital, according to CEO and co-founder Rajat Deshpande.

The company plans to use the capital to roll out new products, enhance its AI-powered platforms for risk assessment, fraud detection, and underwriting, and expand further into fraud prevention. Additionally, FinBox intends to enter the secured lending space, including loan against property, housing finance, and other segments.

“FinBox has established itself as a product-first platform that addresses critical gaps in India’s credit ecosystem. Their modular architecture, data intelligence, and embedded applications create a strong foundation for scalable digital lending. At WestBridge Capital, we strongly believe FinBox is well positioned towards becoming an integral layer of India’s evolving digital credit infrastructure, and we are excited to partner with them in their next phase of growth” said Deepak Ramineedi, Partner, WestBridge Capital.

The round also saw participation from existing investors such A91 Partners and Aditya Birla Ventures.

“We are excited to up our investment in FinBox. They’ve prudently been building the rails for digital lending. This fundraise will help further expand their product suite for banks and NBFCs,” Kaushik Anand, Partner, A91 partners, said.

FinBox raised $35 million as primary capital directly into the company, while secondary share sales contributed the remaining $5 million, enabling early angel investors to exit and new backers to come in.

“With the fresh capital, we will accelerate our mission to reimagine digital lending through our AI platform to supercharge the productivity of banks and NBFCs while ensuring borrowers get faster, fairer access to credit,” Deshpande said in the interview.

“We’ll also use the money to scale operations in Southeast Asia, a market we entered recently,” he said.

Deshpande also said FinBox will actively look at acquiring companies that are building in adjacent sectors.

“If a company is building in a space we’ve been eyeing, we’ll consider inorganic growth opportunities. These will be companies that are valued at around $20-30 million. We can consider even larger ones, we will not shy away from raising more capital to fund these plans,” he said.

FinBox will choose to be aggressive and chase growth, instead of prioritising profits at this point, Deshpande added.

Since its launch in 2017, FinBox’s lending stack has facilitated loan applications worth more than $9 billion (over ₹75,000 crore). Its flagship product, FinBox BankConnect, has enabled lenders to boost approval rates by 35% while cutting fraud cases by 54%.

Before this latest funding round, the company had secured a total of $16 million, according to private market intelligence platform Tracxn.

1...9899100...501Page 99 of 501

CONNECT WITH US

About Us Career Contact Us Advertise With Us

© Business Review Live | Marcom Media Services International.