• Startup Pulse
    altM raises $10.3 million in a Series A round led by Rainmatter by Zerodha and Mela Ventures, with Omnivore, Theia Ventures, Aureolis Ventures, Spectrum Impact and strategic angel investors participating. EloElo Group raises $80 million in a Series C round led by Hornbill Capital and NBCUniversal, with MIT Investment Co. and existing investors participating. Peppermint Robotics raises ₹100 crore (approximately $10.5 million) in a Pre-Series B round led by pi Ventures and Crane Venture Partners, with Asiana Fund participating. Traversal raises $120 million in a Series B round at a $1 billion valuation, led by Kleiner Perkins, Redpoint and Khosla Ventures, with Sequoia Capital, Battery Ventures and Amex Ventures participating. GIVA raises over $100 million in a round led by Multiples Alternate Asset Management. The Croffle Guys raises ₹14 crore in a round led by V3 Ventures, with N.A.N Partners participating. Solgram raises over $1 million in a pre-seed round led by DSG Consumer Partners and Saama Capital, with Kapil Chopra participating. Sachin Tendulkar makes a strategic investment in Metasports Interactive, the company behind Hitwicket. The amount was not disclosed. Hyeglo Beauty raises ₹7 crore in a round led by Sauce, with Giga Capital, Consumer Collective, Reckitt's Arjun Purkayastha and The Patient Capital participating. Unify Foodworks raises ₹5 crore in seed funding through convertible debentures from Atrium Ventures, SailThru Ventures, Arjun Vaidya and Abhishek Goyal. altM raises $10.3 million in a Series A round led by Rainmatter by Zerodha and Mela Ventures, with Omnivore, Theia Ventures, Aureolis Ventures, Spectrum Impact and strategic angel investors participating. EloElo Group raises $80 million in a Series C round led by Hornbill Capital and NBCUniversal, with MIT Investment Co. and existing investors participating. Peppermint Robotics raises ₹100 crore (approximately $10.5 million) in a Pre-Series B round led by pi Ventures and Crane Venture Partners, with Asiana Fund participating. Traversal raises $120 million in a Series B round at a $1 billion valuation, led by Kleiner Perkins, Redpoint and Khosla Ventures, with Sequoia Capital, Battery Ventures and Amex Ventures participating. GIVA raises over $100 million in a round led by Multiples Alternate Asset Management. The Croffle Guys raises ₹14 crore in a round led by V3 Ventures, with N.A.N Partners participating. Solgram raises over $1 million in a pre-seed round led by DSG Consumer Partners and Saama Capital, with Kapil Chopra participating. Sachin Tendulkar makes a strategic investment in Metasports Interactive, the company behind Hitwicket. The amount was not disclosed. Hyeglo Beauty raises ₹7 crore in a round led by Sauce, with Giga Capital, Consumer Collective, Reckitt's Arjun Purkayastha and The Patient Capital participating. Unify Foodworks raises ₹5 crore in seed funding through convertible debentures from Atrium Ventures, SailThru Ventures, Arjun Vaidya and Abhishek Goyal.
  • Bengaluru, Chennai, Hyderabad Account for 64 Per Cent of GCC Office Leasing in Q1 2025

    GCC office leasing

    Mumbai: Global Capability Centres (GCCs) continued to strengthen their footprint in India’s commercial real estate sector, accounting for 43% of total gross GCC office leasing across the top 7 Indian cities in Q1 2025, according to a recent report by real estate consultancy ANAROCK.

    The report highlights that of the 19.47 million sq. ft. of gross office leasing recorded in the quarter, GCCs leased approximately 8.35 million sq. ft., marking a massive 72% year-on-year growth from 4.87 million sq. ft. in Q1 2024.

    Southern Cities at the Forefront of GCC Office Leasing

    The southern metros—Bengaluru, Chennai, and Hyderabad—secured a dominant 64% share, collectively leasing around 5.34 million sq. ft. Bengaluru led with 3.3 million sq. ft. (40%), followed by Chennai (1.22 million sq. ft.) and Hyderabad (0.82 million sq. ft.). Delhi-NCR emerged as the second most preferred market with 1.91 million sq. ft. leased, a dramatic rise from 0.49 million sq. ft. in Q1 2024.

    “India’s growing economic stature and a skilled workforce are making it a global hub for GCCs,” said Peush Jain, MD – Commercial Leasing & Advisory, ANAROCK Group. “The jump in GCC office leasing reflects the aggressive expansion and entry of new GCCs across India, especially in top-performing cities like Bengaluru and Delhi-NCR.”

    Sector-Wise Breakdown

    In terms of sectoral contribution, the IT/ITeS sector led GCC office leasing with a 35% share, followed by Banking, Financial Services & Insurance (BFSI) at 22%, and Manufacturing & Industrial sectors at 13%. E-commerce and consulting held 6% and 5% shares respectively, while the rest (19%) came from various emerging industries.

    Expanding GCC Presence Across India

    ANAROCK’s data also revealed that over 1,700 GCCs operated across the top 7 cities by end-2024, employing 1.70–1.80 million professionals and commanding a market value of USD 52 billion. Projections indicate that this number will reach over 1,900 by end-2025, with a market valuation of USD 60–70 billion.

    Looking ahead to 2030, India could house 2,200–2,300 GCCs, employing up to 2.8 million professionals, and commanding a market size of USD 100–110 billion.

    Interestingly, 65% of the GCCs in India are headquartered in the US, followed by 28% from Europe and the Middle East, and 7% from the APAC region, underlining the country’s growing importance as a global delivery hub.

    GCC Office Leasing: Rise of Tier 2 and Tier 3 Cities

    While Tier 1 cities remain dominant, Tier 2 and 3 cities such as Ahmedabad, Kochi, and Coimbatore are emerging as viable alternatives, thanks to government incentives, infrastructure development, and a widening talent pool.

    “Mid-sized GCCs with 1,000–2,000 employees are expected to drive the next wave of demand,” added Jain.

    Author

    • Salil Urunkar

      Salil Urunkar is a senior journalist and the editorial mind behind Sahyadri Startups. With years of experience covering Pune’s entrepreneurial rise, he’s passionate about telling the real stories of founders, disruptors, and game-changers.

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