Variety raises $20 mn funding

Our Bureau Mumbai | Updated on March 12, 2018 Published on February 19, 2015, an online travel ecosystem, has raised $20 million (Rs 120 crore) in Series B from Nexus Capital and existing investor Matrix Partners. Owned and operated by Chennai-based Inasra Technologies Pvt. Ltd., Stayzilla is a marketplace for ‘alternate stays’ which includes booking solutions for all types of stays. The platform addresses needs across demographic strata by providing accommodation facilities to consumers at affordable costs. 

The funds would be used to expand the nascent alternate ‘stays’ market in India. The online hospitality industry has grown significantly over the last 5 years and travellers are seeking new and ingenious options for their stay requirements.

Stayzilla’s platform address this demand by offering the widest selection of exclusive accommodations which includes more than 20,000 hotels, lodges, jungle lodges, boat houses, homestays across 4,000 towns in the country.

Yogendra Vasupal, Founder & CEO, says that the investment will further help to tap newer destinations to reach over 8,000 towns and 50,000 accommodations by the end of the year alone. “Our end to end managed market place model has been our strength and we will continue to build on this to complement the massive tourism potential in our nation,” he added.

Alternate Stays market in India is at a very nascent stage but is several times larger than the structured hotel reservations industry. Stayzilla intends to become a key driver of change and opportunity in this segment.

Anup Gupta, Nexus Venture Partners said, “The increasing penetration of the Internet and Smart Phones coupled with India’s dynamic demographics has created the need for a platform that aggregates the entire range of stay options in our country.  We are extremely impressed with Stayzilla’s innovative end to end solutions to address the reality of low technology adoption among suppliers.”​

Published on February 19, 2015
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