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Air India partners with BIAL to develop Bengaluru as premier aviation hub for South India

IndianStartupNewsIndianStartupNews · 1y ago
Air India partners with BIAL to develop Bengaluru as premier aviation hub for South India
Medial

Air India has partnered with Bangalore International Airport Limited (BIAL) to establish Bengaluru as a prominent aviation hub in southern India. The agreement aims to enhance international connectivity, operational efficiency, and passenger experience over the next five years. The collaboration involves Air India, AI Express, and Vistara, with plans to strengthen the network and establish a dedicated domestic lounge for premium travelers. In addition, Air India has signed an MoU with the Karnataka government to develop maintenance, repair, and overhaul facilities at Bengaluru's Kempegowda International Airport, projected to generate over 1,200 new job opportunities.

Blue Tokai raises $25 Mn in a bridge funding round from existing investors

EntrackrEntrackr · 8d ago
Blue Tokai raises $25 Mn in a bridge funding round from existing investors
Medial

Blue Tokai raises $25 Mn in a bridge funding round from existing investors Speciality coffee chain Blue Tokai Coffee Roasters has raised $25 million (around Rs 220 crore) in a bridge funding round from existing investors A91 Partners, Anicut, Verlinvest, and 12 Flags. The proceeds will be used to scale retail operations, strengthen back-end infrastructure, and expand into international markets such as Dubai and Japan. In India, the funds will also support new store launches and the expansion of its roasteries and bakery facilities in Bengaluru and Gurugram. Blue Tokai currently operates cafes across multiple Indian cities and has positioned itself as a premium coffee brand. The founders said they are revising their growth targets upwards. Earlier, the plan was to achieve Rs 1,000 crore in revenue and Rs 100 crore EBITDA by 2027. Now, the company aims for over 800 stores and Rs 2,000 crore revenue within the next four years. Blue Tokai has raised over $105 million to date, including its $30 million Series C round led by Verlinvest in August last year. According to the startup data intelligence platform TheKredible, A91 Partners was the largest external stakeholder with 22.77% followed by Verlinvest. As per TheKredible, Blue Tokai Coffee Roasters achieved over five-fold growth in the past four fiscal years. The brand's revenue grew from Rs 41 crore in FY21 to Rs 75 crore in FY22, Rs 127 crore in FY23, and Rs 216 crore in FY24. It competes with Rage Coffee, Third Wave Coffee Roasters, Slay Coffee, Sleepy Owl, and Seven Beans Co., among others.

Rippling targets 2,000 employees in India after $450 Mn funding

EntrackrEntrackr · 3m ago
Rippling targets 2,000 employees in India after $450 Mn funding
Medial

Title: Rippling targets 2,000 employees in India after $450 Mn funding Global HRtech company Rippling has expanded its presence in India with the opening of a second office in Bengaluru. The development follows its recent $450 million Series G funding round, which valued the company at $16.8 billion. Rippling plans to increase its workforce in India from 1,000 to 2,000 employees over the next three years, the company said in a press release. The new office spans 100,000 square feet at Embassy Tech Village, a major IT park in the city, and will accommodate teams across engineering, product, sales, and customer support. “Bangalore has always been a superpower for Rippling,” said Matt MacInnis, Rippling’s Chief Operating Officer. “We grew from 450 employees last year to over 1,000 today, and we’re continuing to scale rapidly. We take on some of our most important product work here, and we intend to keep expanding the autonomy and scope of this team.” Rippling lets businesses manage HR, IT, and Finance in one place across the globe. It combines systems like payroll, expenses, benefits, and device management into a single platform. This allows companies to manage and automate the entire employee lifecycle from one system. Founded in 2016 by Parker Conrad and Indian-origin entrepreneur Prasanna Shankar, the company has offices in San Francisco, New York, Austin, London, Dublin, Sydney, and Bengaluru. Shankar, however, departed in July 2020 and went on to launch the crypto startup 0xPPL in January 2023. Since launching in India in 2017, Rippling has hired more than 20 former founders and entrepreneurs in the country to strengthen its leadership bench. Key hires include Ajay Chandra, principal engineer and former co-founder of Infibeam, and Nimish Bhonsale, senior director of engineering and former co-founder of Elda Health. In 2024, Rippling appointed former Walmart executive Mrinal Chatterjee as its country head. Rippling claims to have crossed $100 million in annual recurring revenue and now supports over 20,000 customers through its growing portfolio of more than 20 products across HR, IT, and finance management. Its investor base includes Y Combinator, Elad Gil, Sands Capital, GIC, Goldman Sachs Growth, Coatue, Founders Fund, Greenoaks, and Dragoneer.

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