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ixigo to acquire 60% stake in Spain’s Trenes for Rs 125 Cr, enters Europe

EntrackrEntrackr · 1m ago
ixigo to acquire 60% stake in Spain’s Trenes for Rs 125 Cr, enters Europe
Medial

**ixigo to acquire 60% stake in Spain’s Trenes for Rs 125 Cr, enters Europe** Online travel aggregator ixigo has approved the acquisition of a majority stake in Spain-based online train ticketing platform Trenes for a total investment of around Rs 125 crore. As part of the transaction, ixigo will acquire an upfront 60% stake in Trenes. Post-acquisition, Trenes will become a step-down subsidiary of ixigo. The company will also have the option to acquire the remaining shareholding at a later stage. Founded in 2013, Trenes operates across Spain and Southern Europe and is integrated with major Spanish and European rail operators, enabling multi-operator rail bookings. Spain’s rail market recorded 549 million passengers in 2024. Trenes reported operating revenue of around Rs 60 crore and a profit after tax of about Rs 15 crore in CY25. The acquisition is ixigo’s first major international deal and its strategic entry into Europe, a market widely regarded as the global benchmark for rail travel. ixigo expects to generate synergies by combining Trenes’ local market presence and rail integrations with its AI-led product capabilities and technology expertise. Founded in 2007 by Aloke Bajpai and Rajnish Kumar, ixigo operates an AI-based travel platform offering bookings across trains, flights, buses, hotels and cabs through its ixigo, ConfirmTkt and AbhiBus apps. The company reported over 54 crore annual active users in FY25. For the quarter ended December 2025, ixigo’s revenue from operations rose to Rs 317.6 crore in Q3 FY26 from Rs 242 crore in Q3 FY25, while profit increased 55% to Rs 24 crore from Rs 15.5 crore during the same period.

Exclusive: Lenskart set to acquire location AI startup GeoIQ

EntrackrEntrackr · 9m ago
Exclusive: Lenskart set to acquire location AI startup GeoIQ
Medial

Exclusive: Lenskart set to acquire location AI startup GeoIQ Omnichannel eyewear retailer Lenskart is all set to acquire location artificial intelligence startup GeoIQ, sources aware of the development told Entrackr. “The deal is nearing completion, with Lenskart set to acquire a majority stake in GeoIQ,” said a source familiar with the matter. “Most of the existing investors are expected to exit as part of the transaction.” Lenskart, which had previously invested in GeoIQ, spearheaded a $2.25 million funding round in May 2022, joined by 9Unicorns (now 100Unicorns) and Ecosystem Ventures. In November 2020, the startup secured Rs 2.5 crore in funding from investors including 9Unicorns, Inflection Point Ventures (IPV), Kayenne, and LetsVenture, among others. Founded by Devashish Fuloria, Tushneet Shrivastava, and Ankita Thakur, GeoIQ utilizes proprietary algorithms to layer government data with other trusted public sources and satellite imagery into generating 100m x 100m geospatial grids. The startup specializes in providing businesses with actionable consumer insights to tap into offline demand and facilitate faster expansion. It already works with well-known brands like Lenskart, Zepto, Navi, HUL, Caratlane, GIVA, Swiggy, Licious, and CultFit. According to startup data intelligence platform TheKredible, GeoIQ is currently valued at around Rs 90 crore (over $10 million). Lenskart is the largest stakeholder in the company with a 17.11% stake while all three co-founders hold 16.57% each. For the fiscal year ending in March 2024, GeoIQ reported an operating revenue of Rs 6.7 crore against Rs 7.1 crore in FY23. Its net loss widened to Rs 6.1 crore from Rs 4.2 crore year-on-year. “The terms of the deal have been sealed, with GeoIQ expected to be valued anywhere between $15–20 million,” said the person quoted at the beginning of the story. This marks Lenskart’s second acquisition in the last two years. In October 2023, the Peyush Bansal-led company acquired TangoEye, an AI-driven computer vision startup in which it was already an investor. In June 2022, it bought a majority stake in Japan’s Owndays. Three months later, Lenskart’s subsidiary Neso Brands also acquired a minority stake in Paris-based omnichannel eyewear brand Le Petit Lunetier. The development comes as Lenskart gears up for its initial public offering (IPO) as it aims to raise $1 billion at a valuation of $10 billion. Last week, the company also transitioned its holding entity from a private limited to a public limited company. The move was exclusively reported by Entrackr.

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