The Hosteller, a backpacker lodging chains startup, has raised $1 million in its pre-Series A round drove by FAO Ventures and CA Holding LLP. SUNiCON Ventures, Shubhkam Ventures, Jito Angel organization and FAAD Network have also participated.
According to the New Delhi-based startup, the assets will be utilized to ramp up its number of inns from 12 inns to 50. The brand further tries to raise $10 million as a part of its Series A round to expand its footprint further in India and southeast Asia.
Established by Pranav Dangi and Sumit Mishra, The Hosteller is a stand-out chain of backpacker inns that offers experiential yet affordable and quality lodging.
The brand claims that its inns are outfitted with different facilities like shared residences, decked normal spaces, huge fire or an activity area, bar and cafe, laundry administrations, visa assistance, and a travel work area, among others, with the assistance being available to travelers 24×7.
The Hosteller straightforwardly contends with goSTOPS.
