Prosus Acquires 10.1% Stake in Ixigo for $146 Million to Boost Travel Tech Growth in India

Growth

October 10, 2025

Dutch investment giant Prosus has announced plans to acquire a 10.1% stake in Indian online travel company Ixigo for ₹12.96 billion ($146 million), underscoring its growing commitment to India’s booming digital economy.

Ixigo, officially known as Le Travenues Technology Ltd, said the funds will be raised through a preferential share issue to Prosus at ₹280 per share, representing a 10.5% discount to its previous closing price. Despite the discount, the stock held firm in early trading, reversing an initial dip to end about 1% higher at ₹310.

According to Ixigo’s statement, about 25% of the investment—roughly ₹3.24 billion—will be directed toward technology and growth, including the development of new AI-based platforms aimed at improving travel planning, personalization, and predictive booking. The company will also channel funds into expanding its hotels segment, a key revenue diversification strategy, as well as advertising, branding, and future acquisitions to strengthen its market footprint.

The transaction reflects Prosus’ long-term faith in India’s tech-driven consumer market. The Dutch investor, known for backing category leaders such as Swiggy and PayU, has built one of the largest foreign investment portfolios in the country, valued at over $6.5 billion.

Industry observers say Prosus’ entry into Ixigo comes at a time when India’s online travel sector is rebounding strongly, driven by rising domestic air traffic and hotel occupancy. Ixigo, which competes with MakeMyTrip and EaseMyTrip, has been steadily expanding its share among budget-conscious travelers by leveraging AI tools to simplify trip planning and bookings.

FITPASS partners with Amazon India to launch subscription-based fitness services nationwide

Fitness

SnackTeam

October 10, 2025

Fitness technology startup FITPASS has partnered with Amazon India to introduce a subscription-based fitness and wellness service on the e-commerce giant’s platform, marking Amazon’s first entry into the services segment in the country. The partnership aims to bring affordable, accessible fitness to millions of Indians through Amazon’s marketplace, which reaches over 300 million users.

Through this collaboration, Amazon customers will gain direct access to FITPASS’ digital wellness ecosystem, which covers gym memberships, AI-driven fitness coaching, personalized nutrition planning, at-home workout content, and online medical consultations. The integration is expected to help FITPASS accelerate its reach beyond metro cities and strengthen its footprint across tier-2 and tier-3 markets.

“This collaboration is more than just a partnership—it’s a signal of how India’s digital economy is maturing,” said Akshay Verma, Co-founder of FITPASS. “Amazon’s first move into subscription services shows confidence in the country’s evolving consumption pattern, especially among young, health-conscious users.”

India’s wellness market is currently expanding rapidly, driven by increasing disposable income and a growing emphasis on preventive health. FITPASS aims to tap into this demand by targeting 500 cities by 2026 and scaling to 10,000 fitness centres across the country by the end of this fiscal year.

The company is also broadening its D2C presence with STOGA, a home fitness equipment brand, which reportedly records around 250 daily orders, and plans to launch a nutrition-focused line in the coming months.

Verma noted that the Amazon partnership will also help FITPASS gain deeper consumer insights to shape future offerings in adjacent categories like nutrition, home wellness, and digital health. “Our goal is to make fitness inclusive, convenient, and sustainable for everyone,” he said.

Goa’s Rhea Distilleries Introduces Eco-Friendly Feni in Recyclable Paper Bottle

Beverages

SnackTeam

October 10, 2025

Goa-based Rhea Distilleries has taken a major step toward sustainability by introducing Fidalgo Premium Cashew Feni in India’s first fully recyclable paper bottle. The initiative, in collaboration with UK-based sustainable packaging company Frugalpac, marks a milestone for the Indian beverage industry as it begins transitioning away from conventional glass packaging.

Announced during UK Prime Minister Sir Keir Starmer’s trade visit to India on October 9, the launch highlights deepening UK-India cooperation in green innovation and manufacturing. The bottle, made from 94 percent recycled paperboard with a food-grade liner, weighs about one-fifth of a typical glass bottle and has a carbon footprint nearly six times lower. The design allows both components—the paper shell and liner—to be easily separated and recycled through existing waste systems.

Rhea Distilleries Director Regan Henriques said the shift is about blending heritage with sustainability. “Feni represents Goa’s cultural identity. With this initiative, we’re making it relevant to today’s eco-conscious consumer. We’re proud to be the first Indian alcohol brand to use paper packaging,” he said.

Initially, Fidalgo Feni in the Frugal Bottle will be available in select Goan markets, with plans to expand distribution across India in 2026. The move is expected to encourage wider adoption of eco-friendly packaging within the country’s fast-growing spirits and beverage sector.

The project is supported by a three-way partnership between Frugalpac, ITC’s Packaging and Printing Business, and Rhea Distilleries. Malcolm Waugh, CEO of Frugalpac, described the launch as a “pivotal moment” for India’s packaging industry, while ITC’s Packaging and Printing CEO Cherian Kenneth Thomas emphasized the collaboration’s potential to drive scalable green manufacturing.

British Trade Commissioner for South Asia Harjinder Kang called the initiative a reflection of the growing synergy between UK and Indian businesses in driving sustainability-led growth.

ET Restaurants & Nightlife Awards 2025 Honour Over 100 Winners in India’s Hospitality Industry

Hospitality

SnackTeam

October 9, 2025

The fourth edition of The Economic Times Hospitality World Restaurants & Nightlife Awards 2025 took place on October 8 at The Leela Ambience, Gurugram, bringing together the country’s most celebrated chefs, restaurateurs, and hospitality leaders under one roof. The evening recognised the best in India’s food and beverage sector across more than 100 categories, spanning design, sustainability, innovation, culinary excellence, and customer experience.

Part of ET The FoodXP Summit 2025, the awards have grown to become one of the most respected platforms celebrating India’s rapidly evolving dining culture. This year’s edition honoured not just legacy restaurants and established brands, but also new and disruptive entrants shaping the modern Indian dining experience.

The winners were chosen through a rigorous evaluation process led by a distinguished jury featuring some of the biggest names in Indian gastronomy and hospitality. Among them were Sanjeev Kapoor, Ranveer Brar, Manish Mehrotra, Riyaaz Amlani, Aditi Dugar, Chef Regi Mathew, Sonal Holland, Dilip Puri, Anjan Chatterjee, and Sabyasachi Gorai. The panel also included industry leaders such as Chef Vineet Manocha, Chef Vikas Seth, Vikrant Batra, Chef Abhijit Saha, Vikram Achanta, Pawan Shahri, and Anurag Katriar.

From timeless institutions to rising culinary entrepreneurs, the 2025 winners reflected the diversity and innovation defining India’s food and beverage landscape. The event spotlighted restaurants and bars that have elevated not just the dining experience but also redefined service standards, local sourcing practices, and the art of hospitality.

With the Indian food scene growing at an unprecedented pace, The Economic Times Restaurants & Nightlife Awards 2025 reaffirmed its role as the definitive benchmark for culinary excellence in the country.

Vicky Ratnani Returns to F&B with Omny Kitchen and Speak Burgers Amid India’s Dining Boom

Hospitality

SnackTeam

October 9, 2025

Celebrity chef Vicky Ratnani is charting a new chapter in his culinary journey with two distinct ventures — Omny Kitchen, a fine-dining restaurant in Gurugram, and Speak Burgers, a fast-growing quick-service brand born during the pandemic.

After years of focusing on television and consulting, Ratnani is now returning to hands-on entrepreneurship, blending creativity with commercial strategy. “People would tell me, ‘We love your shows, but where can we eat your food?’ So I jumped back in,” he shared at The Economic Times FoodXP Summit 2025.

Speak Burgers began as a delivery concept during the lockdown and has quickly built a loyal following. The brand is now preparing for its first physical outlets early next year, signaling its transition from cloud kitchen to scalable QSR model. Omny Kitchen, Ratnani’s first full-scale restaurant in over a decade, mirrors his signature philosophy — global technique meeting Indian sensibility. Its menu, he says, is storytelling through food. His recent Karva Chauth menu was themed around emotion, with courses inspired by love, devotion, dedication, and affection.

For Ratnani, culinary innovation must align with market insight. “An investor who understands food knows how to assess what works for a region. It’s about balance — creativity supported by smart business decisions,” he said.

As India’s food services sector is projected to surpass $100 billion by 2028, Ratnani believes the time is ripe for innovation. “Competition keeps you sharp. It’s a great time to learn from other entrepreneurs,” he added.

Beyond his restaurants, Ratnani continues to shape India’s culinary culture. His landmark show Vicky Goes Veg and award-winning cookbook championed plant-forward cuisine long before it became a trend. He’s now working on a new vegetarian cookbook, reaffirming his belief that “India’s next big flavor movement will come from its roots.”

PVR INOX Expands Premium Experience with Bengaluru’s New Dine-In Theatre Format

entertainment

SnackTeam

October 9, 2025

PVR INOX has redefined the movie-going experience with the launch of India’s first dine-in cinema at M5 ECity Mall, Bengaluru. The new format blurs the line between fine dining and entertainment, positioning cinemas as lifestyle destinations rather than just viewing spaces.

In this concept, patrons can order chef-curated meals served directly to their seats, enjoying restaurant-quality food while watching their favourite films. The multiplex also offers the option for visitors to dine in without purchasing a movie ticket, expanding its appeal beyond traditional cinema-goers.

Ajay Bijli, Managing Director of PVR INOX, said the initiative reflects the company’s broader vision to elevate cinema into an all-encompassing entertainment experience. “With our new property at M5 ECity Mall, we are inviting audiences to experience cinema in an entirely new way. From India’s first dine-in auditorium restaurant to cutting-edge projection and immersive sound, every element has been designed to deliver comfort, innovation and choice under one roof,” he said.

The dine-in cinema houses several in-house food and beverage brands, including Crosta, Cine Café, Steamestry, Wokstar, Frytopia, Dogfather and Local Street. Each offers a distinct culinary focus, ranging from pizzas and burgers to stir-fried dishes, hotdogs, and regional Indian favourites, allowing audiences to explore diverse flavours without leaving their seats.

Technologically, the multiplex is equipped with premium features such as Dolby Atmos, DTS:X, Dolby 7.1 surround sound, and 4K Laser projection. The flagship Big Pix auditorium enhances the experience further with RealD 3D integration, promising crisp visuals and immersive sound.

With this launch, PVR INOX continues to strengthen its leadership in India’s premium entertainment segment, betting on experiential formats that cater to evolving urban audiences seeking comfort, quality, and memorable leisure experiences.

Bira 91 in Talks to Raise $132 Million in Biggest-Ever Funding Round Led by GEM

funding

SnackTeam

October 9, 2025

Indian craft beer brand Bira 91 is in advanced discussions to raise around $132 million, marking its largest-ever funding round as it looks to strengthen its balance sheet and support operations. According to term sheets reviewed by Reuters, New York-based Global Emerging Markets (GEM) has emerged as one of the leading contenders to invest in the company.

The proposed deal structure includes $50 million in equity and $82 million in structured credit, sources said, though the final stake GEM may acquire remains undisclosed. If successful, this would be a critical infusion for Bira as it continues to recover from pandemic-era disruptions and mounting regulatory costs.

Confirming the development, Ankur Jain, Founder and CEO of Bira 91, said the company had received term sheets for “substantial investments in the form of structured debt and equity,” while declining to name the investors.

Founded in 2015, Bira has raised over $210 million to date and was valued at around $450 million two years ago. Its investors include Japan’s Kirin Holdings and Peak XV Partners (formerly Sequoia Capital India). Despite holding less than 5% of India’s beer market, Bira has built a strong urban following, fueled by its distinctive flavors and positioning as a modern, homegrown alternative to global giants such as AB InBev, Carlsberg, and Heineken.

The company continues to face challenges in India’s tightly regulated alcohol industry. In FY24, Bira incurred losses of ₹80 crore ($9 million) after rebranding its legal entity from B9 Beverages Pvt Ltd to B9 Beverages Ltd, triggering state-by-state label re-registrations and supply chain disruptions.

The upcoming round is expected to be used for working capital needs, debt clearance, and restructuring efforts, including optimization of sales and distribution networks as Bira eyes sustainable growth in India’s fast-evolving beverage landscape.

Bengaluru’s Adukale Raises Funding to Expand Authentic South Indian Food Brand Across India

funding

SnackTeam

October 8, 2025

Traditional foods brand Adukale, known for its focus on authentic South Indian flavours, has raised funding to accelerate its omnichannel growth and expand its retail footprint. The investment underscores rising investor confidence in India’s regional packaged food sector, which is seeing increasing consumer demand for clean-label, heritage-inspired products.

Founded and led by Bharat Kaushik, Adukale has established a strong presence in Karnataka through its Adukale Experience Stores, where consumers can sample and purchase its range of snacks, instant mixes, masalas, powders, and sweets. The brand has complemented its offline presence with a growing distribution network spanning direct-to-consumer channels, leading e-commerce marketplaces, quick commerce platforms, and general trade.

The company has built its reputation on a disciplined approach to quality and ingredient sourcing. Its products are free from palm oil, added preservatives, and trans fats, while production processes are designed to maintain consistency in taste at scale. This focus on healthier alternatives, without compromising on traditional flavours, has resonated strongly with urban households seeking authenticity and convenience.

Industry analysts note that the packaged traditional foods segment in India has witnessed significant traction over the past three years, driven by increased awareness of clean-label products and the rapid expansion of quick commerce. With Karnataka serving as a testing ground, Adukale is now preparing to expand to new geographies, supported by this latest round of funding.

Commenting on the development, Bharat Kaushik said the investment will allow Adukale to strengthen its product innovation pipeline, scale distribution, and introduce its offerings to a wider consumer base across India. The company aims to position itself as a leading player in India’s packaged regional foods market, while staying true to its mission of delivering authentic taste rooted in tradition.

FirstClub Doubles Down on Bengaluru — Ayyappan R Launches Brand’s First Fulfillment Center, Eyes Rapid Citywide Growth

Growth

SnackTeam

October 8, 2025

FirstClub has officially launched its first Fulfillment Center (FC), marking a significant milestone for the brand. The inauguration took place on Ayudha Puja day, adding a special touch of serendipity to the occasion.

According to Ayyappan R, the company’s co-founder, the new Fulfillment Center was built from the ground up entirely in-house. It stands as a testament to FirstClub’s speed, precision, and commitment to quality. The facility represents the backbone of FirstClub’s operations, ensuring that the brand continues to deliver fresh fruits, vegetables, and grocery essentials to its customers with care and honesty.

Ayyappan highlighted that while curation, testing, and trust are vital aspects of the brand, the true magic lies in the fulfillment process, where customer needs are met every day. He also expressed pride in the supply chain team that executed the project swiftly, establishing a complete supply network and operational system within a short span of time.

From this new Fulfillment Center, FirstClub will now service key areas across Bengaluru including Sarjapur Road, Bellandur, Harlur, Koramangala, HSR Layout, Whitefield, JP Nagar, and Budigere. The company also plans to expand further with upcoming clubhouses on Varthur Road, Bannerghatta Road, Electronic City, and other locations.

The launch event was attended by the entire FirstClub supply chain and operations team, who gathered for a celebratory photo at the new facility. The moment marked both a cultural and operational milestone for the company as it strengthens its infrastructure to support growing demand.

Eternal (Zomato Parent) Sees Goldman Sachs Stake Sale Worth ₹266 Cr; Total Offload Tops ₹900 Cr

Growth

SnackTeam

October 8, 2025

Goldman Sachs has further pared its holding in Eternal Ltd, the parent company of Zomato, through a block trade worth ₹266.1 crore, taking its total proceeds from stake sales in the past month to over ₹924 crore.

As per exchange filings, Goldman Sachs Bank Europe SE-ODI offloaded around 8.1 crore shares at ₹328.45 apiece, a two percent discount to Eternal’s last close of ₹335.05. The entire lot was purchased by BofA Securities Europe SA, highlighting continued global institutional appetite for the stock even as Goldman reduces exposure.

This is Goldman Sachs’ fourth exit in a series of transactions within weeks. On October 1, it sold 8.2 crore shares worth ₹266.9 crore to Morgan Stanley, followed by another ₹355.3 crore block sale on October 4 to BofA. In late September, the bank had already disposed of ₹36.1 crore worth of shares. Despite these heavy trades, data from June 2025 shows Goldman Sachs held less than one percent stake in Eternal.

While reducing its shareholding, Goldman’s brokerage arm has retained a positive view on Eternal. In a September research note, it maintained a ‘Buy’ rating and revised its price target upward to ₹360, citing the rapid growth of Blinkit, its quick commerce vertical. Investor optimism has been evident, with Eternal stock hitting a record ₹343.95 on September 22 and delivering gains of over 21 percent this year.

Financially, the company’s Q1 FY26 performance showed contrasting signals. Net profit plunged 90 percent year-on-year to ₹25 crore, down from ₹253 crore, but operating revenue surged 70 percent to ₹7,167 crore, led by Blinkit and Zomato’s delivery operations. Analysts expect revenue momentum to continue into the festive season, though profitability pressures are likely to persist in the near term.

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