Comments
Inasra Technologies Pvt Ltd, the parent company of Stayzilla.com today, said it has raised an undisclosed amount in the first institutional round of equity funding from Matrix India.
Pursuant to the transaction, Matrix Partners India has acquired a “significant minority stake” in Inasra Technologies Pvt Ltd, a company statement said.
“The capital raised will be used to strengthen the team, increase our network to over 15,000 hotels and enhance our customer service operations. We are confident that with Indian Angel Network (IAN) and Matrix, we have a winning combination of investors and guides,” Stayzilla.com co-founder and CEO Yogi Vasupal said.
Stayzilla.com operates an online platform to research and reserve ‘value hotels’ in more than 750 cities across India.
“Stayzilla operates at the intersection of two important trends – increasing penetration of hotel bookings online by consumers and increasing number of hotels from Tier 2/3 cities coming online,” Matrix India Managing Director Avnish Bajaj said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.