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Funding in the Indian travel startup landscape is heating up across niche areas of operations.
Hostel chain The Hosteller last week raised INR 1.5 billion ($16.1 million) in a Series B funding round. “This is the largest institutional funding round ever raised by a backpacker hostel company in India,” the hostel chain said in a statement on April 16.
The Hosteller is planning to use the funds to quicken its expansion plans while strengthening its operational efficiencies and building its brand. The company currently has more than 75 properties across 13 states, with more than 30 of these properties having been added over the last 12 months.
“The company is targeting 25,000 beds nationwide within the next 36 months and is preparing to launch a travel super app integrating accommodation, F&B, mobility, and curated experiences into a single platform,” the statement read.
The Hosteller’s fundraising comes right as
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