Stayzilla to secure around $15 million-$25 million institutional funds

Inasra Technologies, which owns and operates hotel booking website Stayzilla.com has announced to raise its second round of institutional funding, estimated at between $15 million to $25 million (Rs 92-152 crore), as reported by Economic Times.

The Chennai-based company had also raised seed funding of $500,000 from the Indian Angel Network in March 2012. Sources indicated that Stayzilla could dilute 15-20 per cent stake in this round of financing.

"We don't have an urgency to raise funds. The only thing that is driving interest in raising capital is that by December, we could be doing 3,000-5,000 room nights a day in a market, where we can target 50,000 nights in two years," Yogendra Vasupal, founder and CEO, Stayzilla told ET.

Increasing usage of smartphone, rising internet penetration have forced the travel ticketing business to move online. Industry estimates suggest that less than 2% of the accommodation in the value and budget segment is booked online.

This is luring investors back into India's online travel ventures, which were responsible for kicking off the country's e-commerce boom, after a few lacklustre years due to sluggish macroeconomic conditions and headwinds faced by the country's airline industry.

Related opportunities

Quick Service Restaurants

La Cane Bistro

La Cane Bistro is India’s first Sugarcane Cafe serving 100%..

Locations looking for expansion Maharashtra

Establishment year 2022

Franchising Launch Date 2023

View Detail

Investment size Rs. 5lakh - 10lakh

Space required 80

Franchise Outlets -NA-

Franchise Type Unit

Headquater Mumbai Maharashtra
Others Food Service

AMPERE FOODS LLP

Shawarma Kings is a brand that was conceptualized in the..

Locations looking for expansion Delhi

Establishment year 2020

Franchising Launch Date 2020

View Detail

Investment size Rs. 10lakh - 20lakh

Space required 100

Franchise Outlets -NA-

Franchise Type Unit

Headquater Delhi Delhi
Ethnic Stores

THE EVAN ENTERPRISES

Since its inception in 2016, SVAKS ethnic wear has been..

Locations looking for expansion Andhra pradesh

Establishment year 2016

Franchising Launch Date 2023

View Detail

Investment size Rs. 30lakh - 50lakh

Space required 800

Franchise Outlets -NA-

Franchise Type Unit

Headquater Hyderabad Andhra pradesh
Bakery & Confectionary

Monginis

Are you looking to open a Monginis Franchise? If yes,..

Locations looking for expansion Maharashtra

Establishment year 1956

Franchising Launch Date 1971

View Detail

Investment size Rs. 5lakh - 10lakh

Space required 250

Franchise Outlets -NA-

Franchise Type Unit

Headquater Mumbai Maharashtra