Backpacker hostel brand goSTOPS raises $1-M in bridge round

New Delhi-headquartered backpacker hostel brand goSTOPS has raised an additional USD 1 million in a bridge round within six months of the last million dollar pre-Series-A round concluded in June. The round witnessed participation from existing investors Chennai Angels, Mumbai Angels, Yuj Ventures, Lead Angels, 1Crowd, Indian Angel Network and Chandigarh Angels Network in addition to new investors including Rohit Chanana of Sarcha Advisors. The bridge round will aid the company to accelerate growth till it concludes its Series-A by June 2022. It will leverage the fresh funds to acquire new budget hotels and grow its presence across the country. goSTOPS leases and transforms budget hotels and operates them as backpacker hostels.