Latest news with #OYO
Mint
2 days ago
- Business
- Mint
Kluisz.ai raises $9.6 million in largest AI seed round of 2025 so far
Hospitality chain OYO's former global chief operating officer (COO) Abhinav Sinha has launched a B2B-focused startup for private cloud infrastructure after raising $9.6 million in seed funding. Sinha started the company two-and-a-half months ago with his co-founders Vamshidhar Reddy and Abhijeet Singh, who formerly worked at McKinsey & Co and AT&T, respectively. Kluisz's seed round is the largest in the artificial intelligence space so far this year, according to Tracxn data. Overall, the company has raised the seventh largest equity seed round, out of 489 deals so far this year. Notably, Kluisz is the only AI software company among the top 10 seed investments so far this year, with five others being deep-tech, while the rest are split between investment tech, religion tech, fintech and B2B-ecommerce. The number one and two spots are held respectively by electric commercial vehicle maker EKA, which raised $23 million from Enam Holdings, and RackBank, a provider of AI-focused data centre colocation services that raised $16.5 million from investment firm KRIIS. New York-based early-stage venture capital firm RTP Global led the round, with participation from Unicorn India Ventures, Blume Founders Fund, Climber Capital and a few angel investors including OYO founder Ritesh Agarwal. Apart from his previous role as COO at OYO, Sinha was chief product officer as well and credits his time in the dual roles as the reason for his new venture. 'We were honing down on drivers in the cloud ecosystem, trying to figure out efficiency, reducing latency and experimenting. We always wanted to set up a private cloud for ourselves but found it daunting," Sinha told Mint in an interview. Kluisz will be spending about 80% of the seed funding on hiring its engineering talent while the rest will go towards expanding its go-to-market team. Currently, the firm's main focus is on India as a market, while also looking at the Middle East. 'The tailwinds, from a data sovereignty perspective, is very high. Even from the perspective of enterprises focusing on generative AI and agentic solutions," said Sinha. The company aims to have its first customer by the end of the year or by January 2026, and eventually have a mix of small and medium businesses as well as enterprise customers contributing to revenue. Kluisz is targeting banking, financial services and insurance (BFSI), as well as manufacturing as early customers. 'The private cloud infrastructure market will continue to grow, fuelled by the increasing adoption of data-intensive workloads among enterprises," D.D. Mishra, vice-president analyst at technology consulting firm Gartner, told Mint in a written response. The company's pitch is that while cloud infrastructure set-ups generally need a lot of people to operate efficiently given that data requirements are always scaling, AI can do a lot of the heavy lifting, especially when it comes to private cloud systems. As a result, a generative AI private cloud reduces costs and manpower. 'While traditionally favoured by sectors with strict compliance and security needs, private clouds are gaining some traction more broadly as organizations seek greater control, customization, and performance, especially for AI applications requiring specialized hardware and low-latency data access," Mishra said. How large is the market really? With AI becoming more prevalent across enterprise, data security is becoming a pressing requirement for large companies. As a result, they'll see private cloud offerings as a boon for AI-related workloads. An IBM report from last year shows that 32% of Indian companies use only a private cloud, while 18% use a public one. However, 47% said that they use a hybrid cloud environment. In fact, hybrid continues to be the dominant IT infrastructure. A hybrid cloud is a form of cloud computing that allows organisations to manage their ecosystem using a combination of private, public and on-premises data centres. Last year, cloud computing company Nutanix's survey found that 46% of the 1,500 respondents had already adopted hybrid cloud ecosystems. Technology consulting firm Gartner's own survey is even more bullish, suggesting that 90% of organizations will adopt a hybrid cloud approach by 2027. That being said, end-user spending on public cloud services dwarfs private cloud significantly. Company spends on private cloud are expected to exceed $84 billion by 2029, according to Gartner's IT Services forecast. Public cloud end-user spending is expected to touch $723 billion this year alone.
Time of India
7 days ago
- Business
- Time of India
65% growth in visa-easy destination bookings, Bali and Dubai top choices: OYO report, ETHospitalityWorld
Global hospitality technology company OYO released its International Summer Holidays Travelopedia 2025, revealing the defining trends shaping how Indians are traveling overseas this summer. The report highlights 65 percent YOY growth in visa-easy destination bookings by Indian travelelrs in H1 2025 underscoring a shift in preferences driven by relaxed visa policies, enhanced air connectivity, and a growing appetite for premium experiences. Some of the most popular destinations on this list include Dubai, Bali, and Bangkok, among others. Dubai tops the charts, Bali emerges as honeymoon hotspot Dubai has emerged as the leading international destination for Indian families, registering a record 3X year-on-year growth in bookings, fueled by five-year multiple-entry visa for Indian nationals that mostly include family travelers and budget business travelers. Bali, meanwhile, has seen a surge in bookings from couples and honeymooners, reflecting its status as a romantic getaway of choice. Advt Advt Indian travellers are increasingly opting for premium and mid-premium accommodations, with OYO's Sunday and Palette brands becoming top preferences. In H1 2025 alone, OYO added 13 new premium properties across Southeast Asia and the Middle East, strengthening its premium footprint in these high-demand markets. The report reveals that Sunday Mega Hotel at Sheikh Zayed Road in Dubai and Super OYO Townhouse Hotel Gunung Sahari in Jakarta, Indonesia are the most booked properties in this stay duration: Indian travellers favour 5–7-day trips for Southeast Asia and 3-5 days for the middle east, making the most of long weekends and holidays, while long-haul destinations in Europe and the US see stays of 10–15 preferences: Proximity to beaches, nightlife, and easy access to cultural attractions are the most sought-after features among OYO's Indian and Dubai are emerging as popular choices in visa easy countries for destination weddings according to the booking patterns recorded by OYO Total Holidays-OYO's dedicated platform for providing complete travel solutions. These destinations offer bespoke event facilities and scenic locales, making it convenient for guests. Additionally, digital nomads are choosing Indonesia and Malaysia for affordable living, reliable connectivity, and vibrant coworking on the development, Ankit Tandon, global CBO and CEO, OYO Vacation Homes, Southeast Asia, Middle East, Latin America, OYO said "Our premium property expansion program includes both hotels and serviced apartments, designed to meet the needs of business and leisure travellers alike. In the UAE, we have a network of over 400 premium apartments in Abu Dhabi and 350+ in Dubai, catering primarily to professionals seeking long-term stays. At the same time, we are rapidly growing our portfolio of premium hotels across leading tourist destinations in Asia, including Dubai, Bali, Bangkok, Pattaya, Kuala Lumpur, Langkawi, Jeddah, Riyadh, Angeles, and many others." By , ETHospitalityWorld Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox. All about ETHospitalityWorld industry right on your smartphone! Download the ETHospitalityWorld App and get the Realtime updates and Save your favourite articles.
Hans India
18-07-2025
- Business
- Hans India
Dubai, Bali top picks for Indians in Jan-June
New Delhi: Dubai, Bali and Bangkok topped the overseas travel preferences of Indians booking through the OYO app between January and June this year, with 65 per cent Year-on-Year growth in bookings for travel destinations offering easier visa processes, the IPO-bound travel tech unicorn said on Thursday. According to the 'OYO Travelopedia 2025', which is based on its responses on 20,000 bookings made via the app, Dubai topped the list with three times year-on-year growth in bookings made by Indian families, whereas Bali witnessed a rise in bookings by couples and honeymooners. The average travel duration for bookings made via the OYO app was 5-7 days for Southeast Asia and 3-5 days for the Middle East, while long-haul destinations in Europe and the US see stays of 10-15 days. 'The report highlights 65 per cent YoY growth in visa-easy destination bookings by Indian travellers in H1 2025, underscoring a shift in preferences driven by relaxed visa policies, enhanced air connectivity, and a growing appetite for premium experiences. Some of the most popular destinations on this list include Dubai, Bali, and Bangkok, among others,' OYO stated. The travel tech platform has a network of 50 premium hotels in these countries, including 23 in Southeast Asia and 27 in the Middle East, mostly under the SUNDAY and Palette brand names. OYO stated that it plans to further expand its premium offerings in emerging global hotspots, with a focus on aspirational properties and personalised guest experiences.
India.com
17-07-2025
- Entertainment
- India.com
Shah Rukh Khan, Madhuri Dixt, Sidharth Malhotra and more celebs invested in this Rs 1,400 crore company, its name is…, owner is…
Home Entertainment Shah Rukh Khan, Madhuri Dixt, Sidharth Malhotra and more celebs invested in this Rs 1,400 crore company, its name is…, owner is… Shah Rukh Khan, Madhuri Dixt, Sidharth Malhotra and more celebs invested in this Rs 1,400 crore company, its name is…, owner is… One will be amazed to know that many A-list actors have invested in Ritesh Agarwal's OYO. Scroll down to read their names. In recent years, the trend of startups has been touching the sky — from Boat to Swiggy and many more such companies that are making skyrocketing money every year. Among these top brands, another brand that has successfully become people's favourite is Ritesh Agarwal's OYO. However, the brand is extremely special because many celebs including Shah Rukh Khan, Sidharth Malhotra, and more are investors. In the last few years, many celebrities have come forward to invest in emerging brands, marking a shift from their earlier roles that were restricted to brand ambassadors or endorsers. Top Indian celebrities, including actors and A-list cricketers, are now investing in online travel platforms, signaling a shift in the funding landscape of the travel industry. A-List Celebrities Who Invested in OYO Recently, Ritesh Agarwal's OYO raised over Rs 1,400 crore in its Series G funding round. If reports by Skift are to be believed, producer and designer Gauri Khan, wife of Shah Rukh Khan, is one of the investors in OYO's latest fundraiser. The report further claimed that Gauri picked around 2.4 million shares in the company. Madhuri Dixit and Her Connection with Ritesh Agarwal's OYO The same report in Skift claimed that Madhuri Dixit and her husband Dr. Sriram Nene, along with Dr. Ritesh Malik, founder of Innov8, have also invested in the brand. They have together bought 2 million shares in OYO. Meanwhile, actor Amrita Rao and her husband, radio jockey Anmol Sood, have invested in Innov8 through the secondary market. Bollywood stars Sidharth Malhotra and Kiara Advani have also previously purchased shares in OYO. For breaking news and live news updates, like us on Facebook or follow us on Twitter and Instagram. Read more on Latest Entertainment News on
&w=3840&q=100)
Business Standard
16-07-2025
- Business
- Business Standard
OYO's Ritesh Agarwal invests in luxury fashion startup Culture Circle
Culture Circle, a hype and luxury fashion app, has raised funds from Ritesh Agarwal, founder and chief executive officer (CEO) of OYO, a global travel technology platform, at a valuation of over ₹100 crore for an undisclosed amount. This follows the brand's earlier deal worth ₹3 crore (for 3 per cent equity, according to media reports) with Agarwal and Kunal Bahl, co-founder of Snapdeal and Titan Capital, on Shark Tank India, according to Culture Circle's release. Currently valued at over ₹400 crore, the startup is witnessing fourfold growth in its business. Culture Circle has over 1 million monthly users and more than 4,000 KYC-verified sellers. It consistently ranks among India's top 50 shopping apps, the release stated. 'Culture Circle is one of the most exciting youth-first platforms to emerge from India. Their focus on trust and experience makes them truly stand out,' Agarwal said in a statement. Devansh Jain Nawal, co-founder and CEO, Culture Circle, said this is a partnership built on shared values. Ackshay Jain, co-founder and chief operating officer (COO), said the company is building a cultural movement and this funding round will help scale SourceX, its artificial intelligence (AI)-powered engine. Jain further added that it will also help the company expand into new categories and global markets. 'Culture Circle recently announced plans to go international this year, further accelerating its mission to democratise luxury for Gen Z and position India as a key player in the global streetwear and luxury market. With flagship stores in Delhi and Hyderabad, Culture Circle offers India's largest collection of authenticated luxury fashion, from Nike and Yeezy to Dior and LV (Louis Vuitton), powered by a proprietary five-step AI-led verification system,' it said in a statement. Additionally, the company is expanding its physical footprint with upcoming flagship stores in four more cities, including Gurugram and Mumbai.
