Women in the travel and tourism industry; Challenges in India's defencetech startup ecosystem
According to UN Tourism, in 2024, 1.4 billion people travelled across international borders. The number for domestic travel within India alone was 2,900 million—more than double the global figure, within a single country.
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Venture Catalysts, an early stage investment platform, on Tuesday said it has taken a full exit from hygiene and wellness brand Pee Safe, recording a 9.6X return on invested capital.
The VC firm saw an extended internal rate of return (XIRR) of 30.53% for the fund. This means that the investment grew investors’ money at about 30.53% per year, on average. Venture Catalysts first backed Pee Safe in August 2017.
ICYMI: Two edtech platforms, upGrad and Unacademy, that began their journeys targeting different categories of learners are joining forces. YourStory looks at what the merger would mean for the companies and the larger sector.
Elsewhere, a crewless Russian fuel tanker is reportedly drifting between Italy and Malta for four days after an alleged drone attack, prompting authorities to issue warning to mariners to steer clear of the tanker, CNN reports. The fuel, if it leaks, could lead to environmental damage and even cause wildfires.
Lastly, from implementing a four-day workweek to urging people to wear short sleeve shirts to reduce air-conditioner use, here’s how governments across Asia are dealing with fuel shortage.
In today’s newsletter, we will talk about
- Women in the travel and tourism industry
- Challenges in India’s defencetech
- Cognizant designing AI-ready GCCs
Here’s your trivia for today: What is the smallest country in South America?
SheSparks
Women in the travel and tourism industry
At SheSparks 2026, Mugdha Sinha, Managing Director of ITDC, said she believes tourism is a democratic force with extraordinary leverage. Globally, the sector employs 40% women, according to the World Travel and Tourism Council.
Within her own organisation, ITDC, 34% of senior leadership positions are held by women. The Ashok Hotel, the 70-year-old jewel in ITDC's portfolio, has 52% of its hospitality workforce made up of women. Its General Manager is a woman.
Key takeaways:
- According to UN Tourism, in 2024, 1.4 billion people travelled across international borders. The number for domestic travel within India alone was 2,900 million—more than double the global figure, within a single country.
- India, she said, is not a nation in the conventional sense. It is a continent: 1.5 billion people, 65% of them under 35, a middle class currently at 310 million that is on track to reach 600 million by 2047.
- Each of those people, Sinha implies, is a potential traveller. Each represents a story of mobility—literal and aspirational. And each, right now, is largely uncounted in the gender-disaggregated way that would allow policy to serve them well.
<Funding alert>
Startup: Ultrahuman
Amount: Rs 400 Cr
Round: Series C
Startup: Ecofy
Amount: Rs 380 Cr
Round: Undisclosed
Startup: BambooBox
Amount: $6.6M
Round: Undisclosed
Technology
Challenges in India’s defencetech
In the global race to build military AI, data has become the most valuable weapon. For superiority in modern warfare is increasingly measured in algorithms, not just in missiles or manpower.
“Whoever owns the data has an edge in AI right now,” says Neeta Trivedi, Co-founder and CEO of defencetech startup Inferigence Quotient and a former scientist at Defence Research & Development Organisation (DRDO), where she spent 28 years.
Tech savvy:
- The US Pentagon has sought about $13.4 billion to advance defence AI capabilities. Estimates suggest China’s People's Liberation Army is investing between $1-2 billion annually on similar technologies.
- AI systems require enormous volumes of data to train effectively. The US hosts more than 5,000 AI data centres while India has about 150.
- Jayant Khatri, Co-founder and CEO of Apollyon Dynamics, says the company deliberately avoids using international LLMs or APIs, including tools like ChatGPT, to minimise the risk of sensitive data exposure.
Interview
Cognizant designing AI-ready GCCs
GCCs (global capability centres) in India have become integral to the strategy of global enterprises. And partnerships play a key role in their successful establishment and evolution. This is where leading IT services company Cognizant comes in.
In an email interview with EnterpriseStory, Sailaja Josyula - SVP, Global Head – GCC Service Line, Cognizant, said, “Cognizant partners with enterprises across the entire GCC lifecycle from strategy and initial setup to scaling and long-term transformation.”
Forging ahead:
- Cognizant, with around 2.4 lakh employees in India, provides end-to-end services to any enterprise that plans to set up its GCC in India.
- According to Josyula, India has emerged as one of the most important global hubs for AI, data, and digital engineering talent.
- India’s GCC ecosystem has evolved across multiple archetypes—from transaction satellites and specialist hubs to large-scale engines of enterprise operations and innovation, she added.
News & updates
- Battery plant: The US government on Monday said EV company Tesla and South Korea's LG Energy Solution had signed a supply agreement to build a $4.3 billion lithium iron phosphate (LFP) prismatic battery cell manufacturing facility in Lansing, Michigan, with an expected production launch in 2027.
- Ecommerce: Amazon is reportedly offering one-hour and three-hour deliveries in markets across the US. The company hopes the speedy delivery will help it stave off competition from its rival Walmart.
What is the smallest country in South America?
Answer: Suriname
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