Ixigo, the online travel platform owned by Le Travenues Technology, has made a strategic move by acquiring a 54.66% stake in Brevistay Hospitality for Rs 65.69 crore. This amount includes a non-compete fee. In a recent filing with the stock exchange, it was revealed that Ixigo plans to purchase this stake through a mix of primary and secondary share transactions. Upon the deal’s completion, Brevistay will officially become a subsidiary of Ixigo. Additionally, Ixigo holds the option to acquire the remaining stake at a future date, depending on specific conditions.
Highlights
Brevistay Overview
Brevistay, established in 2016, operates a platform enabling users to book hotel accommodations for varying lengths of stay. The startup showcased a revenue of Rs 18.1 crore in FY26, a notable increase from Rs 12.23 crore in FY25 and Rs 8.83 crore in FY24. The acquisition is intended to fortify Ixigo’s hotel booking operations.
Investments in AI Startups
In another development, Ixigo’s board has authorised a Rs 7.5 crore investment in Ofintelligence Technologies, known as Proactai, which results in a 10.34% stake acquisition in the AI startup through the purchase of compulsorily convertible preference shares. Proactai is focusing on developing foundational AI models for person re-identification and object tracking tasks.
Additional Funding for AI Development
Furthermore, the company has approved a Rs 4.5 crore investment in Forgeurai Systems (Vestra.AI) via the subscription of 450,000 fully convertible debentures. Vestra.AI is dedicated to creating AI operating systems designed for businesses, particularly emphasising autonomous AI agent orchestration and workflow automation. Ixigo has indicated that these investments in Proactai and Vestra.AI will expedite the progress of AI-based software and related technologies.
Financial Performance
Ixigo has reported an increase in revenue from operations, reaching Rs 308 crore in Q4 FY26, up from Rs 284 crore in Q4 FY25. The company’s profits surged by 92%, climbing to Rs 32 crore in Q4 FY26 compared to Rs 16.7 crore during the same quarter in the prior fiscal year.
Both the investments in AI startups and the acquisition of Brevistay are slated to be finalised by July 5 and July 31 respectively, as part of Ixigo’s commitment to enhance its service offerings.