Ixigo acquires majority stake in Brevistay for Rs 65.69 Cr; invests in two AI startups
-
Kinjal Rajpurohit
- June 6, 2026
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 the transaction will be executed through a combination of primary and secondary share purchases. Upon completion, Brevistay will become a subsidiary of the company. Ixigo will also have the option to acquire the remaining stake in the future, subject to certain conditions.
Founded in 2016, Brevistay operates a platform that enables users to book hotel rooms for flexible durations. The company reported revenue of Rs 18.1 crore in FY26, up from Rs 12.23 crore in FY25 and Rs 8.83 crore in FY24. Ixigo said the acquisition is aimed at strengthening its hotel booking business.
Separately, Ixigo’s board approved an investment of Rs 7.5 crore in Ofintelligence Technologies (Proactai), acquiring a 10.34% stake in the AI startup through compulsorily convertible preference shares. Proactai is developing foundational AI models focused on person re-identification and object tracking.
The company 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 builds AI operating systems for enterprises, with a focus on autonomous AI agent orchestration and workflow automation.
According to Ixigo, the investments in Proactai and Vestra.AI are intended to support the development of AI-powered software and related technologies. The two investments are expected to be completed by July 5, while the Brevistay acquisition is scheduled to close by July 31.
For the quarter ended March 2026, Ixigo reported revenue from operations of Rs 308 crore, compared with Rs 284 crore in the year-ago period. Net profit rose 92% to Rs 32 crore in Q4 FY26 from Rs 16.7 crore in Q4 FY25.
