Bengaluru-based start-up RoomsTonite, a last minute mobile booking app, has secured an angel funding amount of $1.5 million from a clutch of investors, the company said in a statement.
The funding was led by Lashit Sanghvi, co-founder of Alchemy Capital; Nikhil Vora, founder of Sixth Sense Ventures; Venkat Vardhan, promoter of DNA Networks; Mohammed Bin Abdul Rehman Al Khalifa, Chairman of Caravan Group; and Ralph Berezan of Berezan Group of Canada. Vissal Mathew and Balamurali Krishna of IDS Software also contributed to this round in RoomsTonite.
The company will use these funds to further expand its services in India and other countries and to strengthen its team to complement their capabilities.
RoomsTonite is a last-minute hotel booking app that helps customers to book hotel rooms at discounted rates. The app enables users to book hotels for the same day or up to three days/nights, including the booking day with attractive value deals.
Founded by hospitality and travel industry veteran Suresh John, the Bengaluru-headquartered RoomsTonite is changing the way the impulsive and young in India are travelling.
Since its inception in June 2014, the company has witnessed meteoric growth from its business and user base standpoint. The company today boasts over 2 lakh downloads in a span of less than a year and a significantly high percentage of repeat users.
Suresh John, CEO and Co-Founder, RoomsTonite, said: “While technology is at the forefront of what we do at RoomsTonite, our constant focus is to ensure that customers get the experience of real time booking at a great price and to further help them with their last minute travel plans through our platform.”
“On the hotels front, we are a unique platform to help sell their unsold inventory (which otherwise would have been empty). So, hotels can earn additional revenue through RoomsTonite, and therefore increase their RevPAR (revenue per available room),” added John.
The company has so far directly partnered with over 4,000 hotels across 325 destinations in India. Everyday a set of new hotels are on-boarded to the platform - giving more choice and options to customers.
In fact, the company has a strict curation policy. Before on-boarding a hotel, the hotel goes through a stringent quality check process. Various parameters such as the hotel’s review rating, actual reviews and management responses are considered.
“We ensure that only top quality hotels are on-boarded, and the prices of these hotels are very competitive. So, customers can book a top quality hotel whenever they wish, at a great price,” said John.