The Hosteller Secures INR 48 Cr Funding Led by V3 Ventures

In a funding round headed by V3 Ventures, the backpacker hostel chain The Hosteller secured Rs 48 crore through a combination of debt and equity. This includes a Rs 16 crore debt owed to Blacksoil, a venture capital platform.

In addition, angel investors Harsh Shah from Naman Group Family Office and Vedang Patel, the founder of The Souled Store, as well as Synergy Capital Partners, Unit-e Consulting LLP, Real Time Angel Fund (Climber Capital), and Ice VC participated in the round.

Read also - AI Startup Pulse Raises $1.4 Mn Seed Funding From Endiya Partners

We’ve just raised a round of funds which will be utilized to go from 2,500 beds today to 10,000 beds in the next 15 to 18 months,” founder Pranav Dangi said.

The firm intends to expand with the new funding. To date, The Hosteller has been present in 55+ locations nationwide with an online community of 600,000 travelers. 

“We noticed a change in the way GenZ travels — from saving up for one holiday a year to traveling every long weekend. And, The Hosteller fulfills this exact need”, Arjun Vaidya, cofounder of V3 Ventures, said.

About The Hosteller

The Hosteller, which was founded in 2015 by Pranav Dangi and Sumit Mishra, provides travelers with a range of accessible and reasonably priced backpacker hostels in various cities in India.

Startup Success Stories: Discover inspiring tales of startups overcoming challenges and achieving success.

Funding Startup News: Stay updated with the latest news and trends in startup funding and investment.

Startup Insights: Dive into in-depth analyses of various industries and market trends to make informed business decisions.