Indian hostel chain GoStops has raised INR 350 million ($4 million) in its Series A funding. The company is planning to use the funds to expand its inventory by four times: From 2,500 keys currently to 10,000 beds over the next two years. According to a statement, it will grow its presence to 100 destinations in India, up from close to 30 locations at present.
It also aims to use the funds to strengthen its operations, improve technology, and enhance the social and experiential aspects of the properties. This is in line with Indian travelers’ growing preference for new experiences during their trips.
Demand for Hostels in…
Boutique Travel VC raises investment cap from $1.5M to $10M to lead rounds and support portfolio companies through growth Travel...
Read moreDetails
