Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
2013-10-03

Matrix Partners India invests in Stayzilla.com

Matrix Partners India today announced that it has acquired a significant minority stake in Inasra Technologies Private Limited, the parent company of Stayzilla.com

Matrix Partners India today announced that it has acquired a significant minority stake in Inasra Technologies Private Limited, the parent company of Stayzilla.com.

 

The acquisition has been made as the sole investor in the first institutional round of equity funding for the Company. Stayzilla.com operates an online platform to research and reserve “value hotels” in more than 750 cities across India.

 

Yogi Vasupal, co–founder and CEO of Stayzilla.com sai that, “The online hotel booking industry has been at a nascent stage for the last few years. It is now at an inflection point and I expect 40% of all hotel bookings in India to be done online within the next 5 years. The capital raised will be used to strengthen the team, increase our network to over 15000 hotels and enhance our customer service operations. We are confident that with IAN and Matrix, we have a winning combination of investors and guides.”

 

Amitabh Shrivastava, Lead Investor – IAN, added “Yogi represents the classic entrepreneur leader – one with passion, domain understanding and a high focus on execution. He, together with his co-founding team has leveraged both the mentoring and networks of IAN and scaled the company in a very short time to bring in value added investors like Matrix.”

 

“Stayzilla operates at the intersection of two important trends – increasing penetration of hotel bookings online by consumers and increasing number of hotels from Tier 2/3 cities coming online (majority first on Stayzilla). It is our privilege to be associated with Yogi Vasupal, Sachit Singhi and Rupal Yogendra, the co-founders of Stayzilla.com, who have built a unique model to best serve the customers and the hotel operators and scale this marketplace.” said Avnish Bajaj, Managing Director, Matrix India.

Related opportunities
  • Florists
    About Us: Casafleur is a popular florist brand from Delhi that..
    Locations looking for expansion New Delhi
    Establishment year 2000
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Delhi New Delhi
  • Fine Dine Restaurants
    About Us:  Meal O Drama is an award-winning modern bistro in..
    Locations looking for expansion New Delhi
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 1500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Delhi New Delhi
  • Cosmetics & Beauty Product Stores
    About Us: Founded in 2002, in India, KAMA Ayurveda is a..
    Locations looking for expansion Delhi
    Establishment year 2002
    Franchising Launch Date 2018
    Investment size Rs. 30lac - 50lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Ice creams & Yogurt Parlors
    About Us: Makers of Milkshakes thrives on the cravings of the..
    Locations looking for expansion Telangana
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Hyderabad Telangana
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts