ixigo goes beyond travel booking: buys Brevistay stake, invests in two AI startups

Indian travel technology company ixigo has approved the acquisition of a 54.66% stake in hotel booking platform Brevistay for Rs 65.69 crore, including a non-compete fee.

The transaction will be carried out through a mix of primary and secondary share purchases and remains subject to the completion of agreed conditions. Once completed, Brevistay will become a subsidiary of ixigo’s parent company, Le Travenues Technology.

ixigo will also have the right to buy the remaining stake in Brevistay in the future, subject to certain conditions.

Brevistay, incorporated in 2016, operates a website and mobile app that allow users to book hotel rooms for flexible durations. The company offers short-stay and overnight bookings, including slots of three, six and 12 hours.

The acquisition is aimed at strengthening ixigo’s hotels business and expanding its presence in India’s accommodation market.

Brevistay reported unaudited turnover of Rs 18.10 crore in FY26, compared with Rs 12.23 crore in FY25 and Rs 8.83 crore in FY24. The acquisition is expected to be completed on or before 31 July 2026.

AI investments

ixigo’s board also approved two investments in AI companies.

The company will invest Rs 7.50 crore in Ofintelligence Technologies, which operates ProactAI, for a 10.34% stake on a fully diluted basis. The investment will be made through the subscription of 2,394 compulsorily convertible preference shares.

ProactAI, incorporated in May 2024, is building AI models for person re-identification and object tracking. It reported unaudited turnover of Rs 12.02 lakh in FY26.

ixigo will also subscribe to 450,000 fully convertible debentures issued by Forgeurai Systems, which operates Vestra.AI, for Rs 4.50 crore. The debentures carry a face value of Rs 100 each.

Vestra.AI develops custom AI operating systems for businesses, with a focus on autonomous AI agent orchestration and workflow automation. It reported turnover of Rs 1.25 lakh in FY26.

Earlier this year, ixigo approved the acquisition of a 60% stake in Spanish train ticketing platform Trenes for about €11.7 million, or roughly Rs 125 crore. It also approved the acquisition of a 45.02% stake in Sqaas for €450,000, or about Rs 4.8 crore.

For the quarter ended March 2026, Le Travenues Technology reported operating revenue of Rs 308 crore, up 8.5% year-on-year. Net profit stood at about Rs 32 crore.