Ixigo acquires majority stake in Brevistay for Rs 65.69 Cr; invests in two AI startups

Le Travenues Technology, the parent company of online travel platform Ixigo, has approved the acquisition of a 54.66% stake in hotel booking startup Brevistay Hospitality for Rs 65.69 crore, including a non-compete fee. In a stock exchange filing, Ixigo said it will acquire the stake through a combination of primary and secondary share purchases. Once the deal is completed, Brevistay will become its subsidiary. Ixigo also has the option to buy the remaining stake at a later stage, subject to certain conditions. Founded in 2016, Brevistay operates a platform that allows users to book hotel rooms for flexible durations. The startup reported revenue of Rs 18.1 crore in FY26, compared with Rs 12.23 crore in FY25 and Rs 8.83 crore in FY24. According to the company, the acquisition is aimed at strengthening its hotel booking business. In a separate move, Ixigo’s board approved a Rs 7.5 crore investment in Ofintelligence Technologies (Proactai), securing a 10.34% stake in the AI startup through the subscription of compulsorily convertible preference shares. Proactai is building foundational AI models focused on person re-identification and object tracking. The company has also approved an investment of Rs 4.5 crore in Forgeurai Systems (Vestra.AI) through the subscription of 450,000 fully convertible debentures. Vestra.AI develops AI operating systems for enterprises, with a focus on autonomous AI agent orchestration and workflow automation. Ixigo said the investments in Proactai and Vestra.AI will help accelerate the development of AI-powered software and related technologies. Both transactions are expected to be completed by July 5, while the Brevistay acquisition is slated to close by July 31. Ixigo’s revenue from operations increased to Rs 308 crore in Q4 FY26 from Rs 284 crore in Q4 FY25. The company’s profit rose 92% to Rs 32 crore in Q4 FY26 from Rs 16.7 crore in the corresponding quarter of the previous fiscal.