Backpacker hostel brand GoStops raises $1-M from IAN, Yuj Ventures, others

New Delhi-based backpacker hostel brand GoStops has raised USD 1 million in a pre-series A round led by Indian Angel Network (IAN) and Yuj Ventures, the private investing arm of the family office of Xander Group founder Sid Yog. The round also saw participation from The Chennai Angels, Chandigarh Angels, Lead Angels, Mumbai Angels Network, LetsVenture as well as GoStops' existing lead investor 1Crowd. KRS Jamwal, Uday Chatterjee and Mitesh Shah led this round at IAN. GoStops will use the funds to aggressively grow the company's supply over the next 12 months and invest in marketing and technology. The company had earlier raised funding in a round led by 1Crowd Fund, and from angel investors including Nitish Mittersain, the founder of Nazara Games.