VC Fund Investments
Backpacker hostel chain Hosteller attracts Rs.48-Cr led by V3 Ventures
The Hosteller , a Mumbai-headquartered backpacker hostel chain, has raised INR 48 crore in a funding round led by V3 Ventures in a mix of equity and debt. This includes a debt of INR 16 crore from the venture debt platform Blacksoil.The round also saw participation from Synergy Capital Partners, Unit-e Consulting LLP, Real Time Angel Fund (Climber Capital), Ice VC, along with angel investors Harsh Shah from Naman Group Family Office and The Souled Store founder Vedang Patel.The funds will be used to expand its footprint across India, from 2,500 beds to 10,000 beds in the next 15 to 18 months.Founded in 2014, The Hosteller operates in 60 locations, including metros cities and scenic spots in Himachal Pradesh, Uttarakhand, Karnataka and beyond. It plans to enter new markets like Odisha, West Bengal, and the northeast, while deepening its presence in existing tier-1 cities such as Delhi, Mumbai, Bangalore, Goa, and Jaipur.The Hosteller reported a revenue of INR 55 crore for the fiscal year ending March 2024. It is targeting an overall revenue of INR 100 crore in the current fiscal year.
In Nov 2021, The Hosteller had raised USD 1 million in a funding round led by FAO ventures, CA Holding LLP, Sunicon Ventures, Subhkam Ventures, Jito Angel network and FAAD Network.
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