[Funding alert] Hospitality startup Brevistay raises 3 Cr in seed round from IAN

Brevistay, a pay-for-hour room booking startup, has raised Rs 3 crore in its seed funding round from Indian Angel Network (IAN) lead investors Uday Chattarjeee, Hari Balasubramniam, and Sri Prakash.

The startup plans to use the funds to strengthen its team and invest in marketing strategies.

The Noida-based Brevistay was founded in 2016 by Prateek Singh, It allows customers to book hotels in three, six and 12 hour slots with the flexibility to choose their check-in time.

Read also - [Funding alert] Logistics startup Omnivio raises $400K in funding

The platform also allows hotels to manage inventory in real-time with the flexibility of their rooms.

“We are altering the unit for hotel reservations. Not everything revolves around room night; there are also hotel hours. We are establishing a new method of operating the business in place of the traditional, long-standing pattern of the noon check-in and 11 am check-out time. We are considering growing with this financing in order to introduce this idea to more people in more cities”, said, Prateek Singh, Co-founder of Brevistay.

The startup aims to solve the common problem of customers paying more for less time in hotels.

The startup claims to be present in over 70 cities with over 2,800 hotels and 8 lakh app downloads. It saw a 1.5-fold increase in the nine months after the first lockdown and a 250% increase in the numbers in the next nine months after the second wave of COVID-19.

Read also - [Funding alert] Tiger Global-Backed Bizongo raises $25 mn in funding

Sri Prakash, IAN’s led investor said, “We are supporting a skilled group of founders who have created a company with enormous potential in India. We anticipate the business to take the lead in the hourly booking of hotel rooms and comparable services. Our investment network at IAN will assist the business in any manner it can to help it reach its full potential.”

About Brevistay

They are a short hour room service provider where customer can book a hotel room in packs of 3 hours, 6 hours or 12 hours.