Traveltech startup The Hosteller has raised INR 48 Cr (around $5.7 Mn) in a funding round led by existing investor V3 Ventures, with INR 16 Cr in debt from Blacksoil. The round also saw participation from Real Time Angel Fund, Ice Venture Capital, Synergy Capital Partners, and angel investors including Harsh Shah and Vedang Patel.
Founded in 2015 by Pranav Dangi and Sumit Mishra, The Hosteller plans to use the capital to expand its network of affordable backpacker hostels across India, aiming to increase its bed count from 2,500 to 10,000 in the next 15-18 months.
This funding follows a recent INR 32 Cr round in September. The startup is focused on scaling its presence across new regions in India.