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Tenon Group marks 30 years with global expansion, Rs 3,000 Cr turnover

EntrackrEntrackr · 7m ago
Tenon Group marks 30 years with global expansion, Rs 3,000 Cr turnover
Medial

Tenon Group marks 30 years with global expansion, Rs 3,000 Cr turnover Tenon Group, a multinational company in security services, facility management, and remote surveillance, has completed 30 years of operations. The company is marking three decades of business and international growth. Tenon Group, founded by Major Manjit Rajain as a security services provider, has expanded its operations to include facility management and remote surveillance using AI technology. The company now operates in India, the United Kingdom, Singapore, and Germany, offering security and facility services. “Thirty years ago, Tenon was built on a simple yet powerful vision—to redefine security with excellence, trust, and innovation. Over the years, we expanded into facility management and remote surveillance, integrating AI, IoT, and automation to stay ahead of industry challenges. As we move forward, our focus remains on strengthening our services, investing in cutting-edge technologies, and delivering exceptional value to our clients worldwide,” said Major Manjit Rajain, Global Chairman of Tenon Group. With a turnover of Rs 3,000 crore, Tenon Group continues to drive organic growth, service diversification, and global expansion. The company operates from over 78 branch offices, employs over 95,000 personnel, and serves more than 3,100 clients worldwide. In Singapore, it has introduced robotic security solutions and is using AI, IoT, and remote monitoring in its security and facility management services to improve operations. Tenon Group plans to expand its global presence by focusing on AI-powered security, robotic surveillance, IoT integration, and new facility management solutions to meet industry standards.

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Spacewood raises Rs 300 Cr at Rs 1,200 Cr valuation

EntrackrEntrackr · 10d ago
Spacewood raises Rs 300 Cr at Rs 1,200 Cr valuation
Medial

Spacewood raises Rs 300 Cr at Rs 1,200 Cr valuation Modular furniture maker Spacewood Furnishers has raised Rs 300 crore ($36 million) from A91 Partners at a valuation of Rs 1,200 crore ($135 million). The investment gives A91 Partners a minority stake and will support expansion, brand building, and operations. Spacewood plans to scale from 35 exclusive stores to 100 stores across India over the next few years. Founded by Kirit Joshi and Vivek Deshpande, Spacewood manufactures modular furniture for homes and offices. The company works through an omnichannel model with exclusive stores, a dealer network, and online platforms. The company runs a manufacturing facility of about 1 million sq. ft. with panel processing and sheet metal capabilities. Its dealer network covers over 500 partners across 150 towns and cities. In 2011, Nitin Sudame set up the office furniture division under Spacewood Office Solutions (SOS). SOS has supplied office furniture to over 1,000 corporates and developers. Spacewood targets group revenue of Rs 700 crore for FY26. It aims to grow 25–30% annually over the next five years with a focus on profitability. Its clients include Accenture, Capgemini, HDFC, Adani Group, and several educational institutions. Sumai Doors works with over 200 real estate developers, including Godrej Properties, DLF, Lodha, M3M, and Kolte Patil. Spacewood operates in the modular furniture market competing with brands such as Godrej Interio, IKEA, Homelane, Pepperfry, Wurfel, and Urban Ladder.

InCred set to buy Stocko for Rs 300 Cr

EntrackrEntrackr · 5m ago
InCred set to buy Stocko for Rs 300 Cr
Medial

InCred set to buy Stocko for Rs 300 Cr Lending and wealth service provider InCred Money is set to acquire trading platform Stocko for Rs 300 crore ($35 million). As per the ET report, Stocko will be renamed InCred Stocko after the process is completed. However, the deal is not yet approved by regulators. Stocko offers trading in stocks, options, commodities, and currencies, with a daily turnover of Rs 1 lakh crore. The company’s team, led by Shrey Jain, will continue after the merger. InCred plans to integrate Stocko with its current services. The deal marks InCred’s entry into the retail brokerage space. InCred Money is part of InCred Group, which also runs lending and wealth services. The Bhupinder Singh-led Incred achieved unicorn status after raising $60 million in a Series D round from new and existing investors in December 2023. A Mint report suggested that InCred aims to raise Rs 4,000-5,000 crore ($471-588 million) through its IPO, at a valuation ranging between Rs 15,000 crore and Rs 22,500 crore, a price of Rs 225 to 325 a share. The company is reportedly targeting a listing in the last quarter of 2025. The InCred Group operates three entities: InCred Finance, InCred Capital, and InCred Money. In FY24, the group’s revenue from operations grew by 48% to Rs 1,267 crore. It also reported a profit after tax (PAT) of Rs 316 crore in the last fiscal year.

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