Funding within the Indian journey startup panorama is heating up throughout area of interest areas of operations.
Hostel chain The Hosteller final week raised INR 1.5 billion ($16.1 million) in a Collection B funding spherical. “That is the biggest institutional funding spherical ever raised by a backpacker hostel firm in India,” the hostel chain mentioned in a press release on April 16.
The Hosteller is planning to make use of the funds to quicken its enlargement plans whereas strengthening its operational efficiencies and constructing its model. The corporate at the moment has greater than 75 properties throughout 13 states, with greater than 30 of those properties having been added over the past 12 months.
“The corporate is focusing on 25,000 beds nationwide inside the subsequent 36 months and is getting ready to launch a journey tremendous app integrating lodging, F&B, mobility, and curated experiences right into a single platform,” the assertion learn.
The Hosteller’s fundraising comes proper as
