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Budget hotel brand aggregator RedDoorz has closed a pre-Series A funding from Jungle Ventures. While the funding details were not disclosed, it is estimated to be in range of $5-10 million
Jungle Ventures, which has backing from Ratan Tata, has raised about $100 million recently to invest in tech startups.
With the current funding, RedDoorz also announced that Philip Wolf, Founder PhoCusWright and Ajay Bakaya, Executive Director at Sarovar Hotels & Resorts, both travel and hospitality industry veterans have joined the company’s Strategic Advisory Board to help accelerate it's growth and product success in its segment.
RedDoorz is South East Asia’s first asset light budget accommodation brand and service offering for hotels, resorts, inns, service apartments, B&Bs and guesthouses. It provides budget accommodation owners access to expert advice and assistance to standardize their offering and directly distribute online via RedDoorz technology platform. Under the RedDoorz brand and service umbrella, these properties will also receive continued guidance to build repeat business and see higher online occupancies of up to 50 per cent.
To the consumer, a RedDoorz branded accommodation will mean receiving a consistent experience and great prices, complimented by the brand’s trust and security, the statement said.
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