Le Travenues Technology, the parent of online travel platform Ixigo, approved the acquisition of a 54.66% majority stake in hotel booking startup Brevistay Hospitality for Rs 65.69 crore, along with two artificial intelligence (AI) investments, at its board meeting on June 5, 2026.
The three deals:
- Brevistay: Ixigo will buy a 54.66% stake for Rs 65.69 crore, including a non-compete fee, through a mix of primary and secondary share purchases. The transaction will transfer control from the founders and make Brevistay a subsidiary, with the right to acquire the remaining stake later. Brevistay operates a platform for booking hotel rooms for flexible durations. Its turnover grew to Rs 18.1 crore in FY26 from Rs 12.23 crore in FY25 and Rs 8.83 crore in FY24. The deal is expected to close by July 31.
- Proactai: Ixigo will invest Rs 7.5 crore in Ofintelligence Technologies (Proactai) for a 10.34% stake, subscribing to 2,394 compulsorily convertible preference shares (CCPS). Proactai develops a vertical foundational AI model for person re-identification and object tracking. It was incorporated in May 2024 and reported turnover of just Rs 12.02 lakh in FY26.
- Vestra.AI: Ixigo will invest Rs 4.5 crore in Forgeurai Systems (Vestra.AI) through 450,000 fully convertible debentures (FCDs) with a face value of Rs 100 each, which gives it no equity stake at this stage. Vestra.AI develops custom AI operating systems for businesses, focusing on coordinating autonomous AI agents and automating workflows. Incorporated in September 2024, it reported turnover of Rs 1.25 lakh in FY26.
Both AI deals are expected to close by July 5, 2026. Ixigo said the investments will strengthen its AI capabilities as part of a wider push to keep trip planning within its own ecosystem rather than ceding it to general-purpose AI assistants.
A run of recent deals: The Brevistay and AI investments extend an acquisition spree. Ixigo largely funded these investments through a Rs 1,296 crore preferential issue raised from Prosus in November 2025, earmarking 25% of the proceeds for acquisitions and strategic investments.
- February 2026: Ixigo entered Europe by investing in a Spanish train-ticketing company and took a 45.02% stake in Spanish AI firm Sqaas for 11.70 million euros, its first AI-focused investment outside India.
- Earlier acquisitions: The company has bought train and bus ticketing platforms ConfirmTkt, AbhiBus, and Zoop, building out its core travel stack.
Why the Proactai investment is worth watching: Person re-identification is a surveillance technique that tracks and matches a specific individual across multiple, non-overlapping camera feeds. Unlike facial recognition, it does not require a facial template and often relies on soft biometrics such as clothing, body shape, and movement patterns, so it can identify a person across a camera network even without a facial scan.
The regulatory frameworks meant to cover this are built around the…
Source link
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We blogs.grocliq.com want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
Website Upgradation is going on for any glitch kindly connect at [email protected]
