The Tech News Roundup’s Post

OYO Success Story: Building a Unicorn Startup from Oravel Stays to OYO Rooms 🔥 🔥🔥Ritesh Agarwal, the Indian entrepreneur and founder of OYO, has become a household name in the hospitality industry. At the young age of 25, Ritesh has achieved what many only dream of – being a billionaire and the CEO of one of the world’s most affordable hotel chains. #successstory #startups #oyorooms To read the full article please follow the link👇 https://lnkd.in/gadBCSwv For more updates follow KaroStartup

India's leading backpacker hostel chain, The Hosteller, has raised $4 million (INR 32 crore) in a Series A funding round led by V3 Ventures. This investment elevates The Hosteller's valuation to approximately INR 200 crore and will be used to strategically expand its footprint to over 150 locations across India within the next 24-30 months. The startup aims to strengthen its presence in metros while venturing into new travel destinations, focusing on high-quality, immersive experiences for backpackers. V3 Ventures Co-Founder Arjun Vaidya is confident in The Hosteller's growth: "The Hosteller has established itself as a leader in travel through outstanding execution. We're proud to support their expansion plans." Pranav Dangi, Founder & CEO of The Hosteller, highlights their commitment to exceptional experiences and sustainable growth. "We're setting new benchmarks with initiatives like Glu, our tech concierge. Our focus remains on delivering an unparalleled experience for the backpacker community." Since 2014, The Hosteller has become synonymous with affordable, quality lodging and immersive travel. Operating in 60 locations across 12+ states, it's the only chain with such a wide reach in India. Their self-operated model ensures consistent quality and a standardized experience, making them a top choice for budget-conscious travelers. The Hosteller reported strong financials in FY24 with positive net margins. With plans to add 50 more properties this year, they're on track to solidify their position as the largest backpacker hostel chain in South Asia. Think your network would benefit from this information? Share this post and let's build a stronger startup community together! Follow us at Unbox Startups for more such content and stories. #funding #hospitality #travel #India #backpacking

The #Remarkable #Journey of Sourav Goswami: From #Setback to #Success!❤️👏 In the world of #entrepreneurship, the path to success is seldom straight. Yesterday, I met Sourav after Covid. His journey is a testament to #resilience, #innovation, and the indomitable spirit of an #entrepreneur. 💪 His story begins with a promising startup that was on the brink of securing investment from #Cleartrip. However, fate had other plans, and the investor's last-minute withdrawal led to the unfortunate shutdown of his venture. This setback, though disheartening, was merely the prelude to Sourav's remarkable comeback. Sourav then joined OYO, the renowned hotel aggregator, overseeing operations in the North East region. His dedication and innovative approach quickly propelled him to the top, making him one of the company's top performers. 🚀 However, the onset of COVID-19 brought unforeseen challenges. As Oyo grappled with the pandemic's impact, it began reneging on payments to hotels. For Sourav, whose principles were firmly rooted in professionalism and integrity, this was a line he could not cross. Thus, he made the difficult decision to leave Oyo.😞 The departure from Oyo and the fallout from his first startup plunged Sourav into a deep depression. Yet, the essence of an entrepreneur is to rise from the ashes, and Sourav did just that. 📈😔 He recognized the burgeoning demand for unique travel experiences post-COVID, especially in the realm of #offbeat #tourism #destinations. Seizing this opportunity, he founded FusionStays, a startup focused on providing #verified #homestays across the North East. Starting from scratch, he meticulously built #FusionStays, brick by brick, ensuring that each homestay offered a genuine and immersive experience for travelers seeking something beyond the conventional.❤️🤗 Today, #FusionStay boasts thousands of homestays, catering to a growing clientele of travelers looking for #experiential #vacations. The success of FusionStay is not just in its numbers but in the #rejuvenation it brings to offbeat tourism and the local communities it supports.🥰 Sourav's story is a beacon of hope and inspiration for aspiring entrepreneurs. It teaches us that setbacks are not the end but rather the beginning of a new chapter. It's about finding new paths, building from the ground up, and always staying true to one's values and vision. 💪🚀 Sourav, it's been an honour to have #mentored you and experienced your journey closely!❤️🙏 #EntrepreneurJourney #StartupSuccess #InnovationInTravel #ResilienceInBusiness #HomestayExperience #TravelInnovation #EcoFriendlyTravel #SustainableTourism #FromSetbackToSuccess #ExperientialTravel #BusinessComeback #EntrepreneurialSpirit

The Hosteller, a leading traveltech startup, has successfully raised INR 32 Cr (approx. $4 Mn) in a fresh funding round led by V Cube Ventures SA, with participation from LV Angel Fund, Unit E Consulting LLP, and several angel investors. According to regulatory filings, the board approved a special resolution to issue 10 equity shares and 64,281 Series A compulsorily convertible preference shares (CCPS) at a premium of INR 4,977.50 each, bringing the total funding to INR 32 Cr. This new capital will fuel The Hosteller's expansion plans as they look to grow their operations. The company also proposed further fundraising through private placement and preferential issuance of equity shares and Series A CCPS. Founded in 2015 by Pranav Dangi and Sumit Mishra, The Hosteller offers affordable backpacker hostels across India, making it a popular choice among budget-conscious travelers. The travel and hospitality sector is witnessing a strong post-pandemic recovery, with nationwide hotel occupancy reaching 66.1% and an average daily rate (ADR) of INR 6,869 in 2023, the highest in a decade. In another significant move in the industry, OYO acquired Paris-based premium rental homes company Checkmyguest for INR 230 Cr ($27.4 Mn), signaling OYO’s ambitious global expansion. #TheHosteller #TravelTech #Funding #FundingAlert #FundraiserAlert #VCubeVentures #VentureCapital #AngelInvestors #BackpackerHostels #TravelIndustry #Hospitality #TourismRecovery #GlobalExpansion #AllBoutCorps

ELIVAAS, a #techdriven platform specializing in luxury villa and apartment management, has successfully raised $5 million in a Series A funding round led by 3one4 Capital. The round also attracted participation from Peak XV’s Surge and a group of angel investors. Previously, the startup secured $2.5 million in November 2023, led by Peak XV Partners’ Surge and several prominent angel investors. The newly raised capital will be utilized to enhance its technology platform, expand market presence, optimize operations, and improve the overall experience for both homeowners and guests. What Does Elivaas Do? Founded in 2023 by industry veterans Ritwik Khare and Karan Miglani, #Elivaas is revolutionizing India's premium vacation rental market. The platform merges advanced technology with exceptional hospitality to provide luxury villa and apartment management services. Elivaas has rapidly expanded, currently managing over 140 properties in sought-after vacation destinations such as #Goa, #Delhi NCR, Rajasthan, Maharashtra, Himachal Pradesh, and Uttarakhand. The startup is dedicated to delivering high-end vacation experiences for travelers while equipping homeowners with tools to monitor, monetize, and maintain their properties. Leadership's Vision for Growth Commenting on the funding round, Ritwik Khare, Co-founder and CEO of Elivaas, stated, “The luxury vacation rental market in India is primed for disruption, and we’re committed to leading that charge. With the backing of 3one4 Capital, Peak XV's Surge, and our supportive angels, we aim to shape the future of this space with a focus on quality, technology, and unparalleled guest experiences.” Nitya Agarwal, Vice President of Investments at 3one4 Capital, added, "As India prepares to become one of the largest domestic tourism markets, there is a significant opportunity to meet the growing demand. We are excited to partner with Elivaas as they set out to transform the future of vacation rentals in the country." Janit Jaiswal | Sakshi B. | Jagruti Chari | Ashish Khurana | AVTAR SINGH | Tushar Sharma | Karan Miglani | Paromita Gupta | Abhilash A | Sonal Saldanha | Aryan Mittal | Monica Umesh | Richard Pinto | Siddarth Pai | Nruthya Madappa | Pranav Pai | Anurag Ramdasan | Akshay Sharma | #elivassfunding #elivaaslatestnews #elivaasservices #startupnews #latestnews #3one4capitalnews #startupro

Indian hospitality giant OYO has acquired Paris-based premium rental homes company CheckMyGuest for Rs 230 crore in a mix of cash and stock. The development comes after the company raised Rs 1,457 crore (approximately $175 million) at a valuation of $2.37 billion. According to the media reports, CheckMyGuest was previously valued at $110 million. The acquisition includes the housing renovation business HMG (formerly HelpMyGuest) and the luxury rental apartment management company Studio Prestige, according to The Arc's report. As of March 2024, OYO operated around 85,000 homes, mainly in Europe, and 18,000 hotels in India and Southeast Asia. The company has made several European acquisitions since 2021 to expand its presence in Croatia, Germany, Denmark, Spain, and Austria. Read the full story here: 👇 https://lnkd.in/dCz9hgjm #oyo #europe #paris #traveling #startup #indianstartupnews

The Hosteller, a backpacker hostel chain, has raised $4 million (approximately Rs 32 crore) in a funding round led by V3 Ventures, valuing the company at about $25 million. Existing investors, including LetsVenture Fund, FAO Ventures, Synergy Capital Partners LLP, UNIT.E CONSULTING LIMITED, ICE.vc, and Thrive Ventures, also participated in the round. The funds will be used for the company's expansion plans, aiming to extend its presence to over 150 locations across India in the next 24 to 30 months. Founded in 2014, The Hosteller currently operates in 60 locations, including major metro cities and scenic spots in Himachal Pradesh, Uttarakhand, and Karnataka. The Hosteller has seen significant growth, expanding fourfold in the number of locations over the past three years, driven by increased demand. The company, which reported a revenue of Rs 55 crore for the fiscal year ending March 2024, plans to continue this momentum by adding four to five new hostels to its portfolio each month. Founder and CEO Pranav Dangi emphasized the company's commitment to delivering exceptional travel experiences and sustainable growth, highlighted by the launch of their tech concierge, Glu Mobile. V3 Ventures' partner Arjun Vaidya and Synergy Capital Partners LLP' Apurva Patel praised The Hosteller's execution, capital utilization, and customer engagement, noting its strong position in the consumer and travel space. #TheHosteller #BackpackerHostels #TravelExpansion #HospitalityIndustry #SustainableGrowth #TechConcierge #IndiaTravel #HostelChain #TravelExperiences #StartupFunding #VentureCapital #TravelCommunity #Startup77

Ritesh Agarwal-led hospitality giant OYO recorded a net profit of Rs 158 crore and revenue of Rs 1,578 crore in Q2 FY25, PTI reported. This marks a significant turnaround, as the company had posted a net loss of Rs 50 crore during the same period last year. OYO's net profit for the first half of FY25 now stands at Rs 290 crore, compared to a loss of Rs 91 crore in the same period a year ago. Read the full story here: 👇 https://lnkd.in/djHCEzN5 #oyorooms #oyo #riteshagarwal #hotels #startup #indianstartupnews

Hospitality major OYO has reportedly acquired Paris-based premium rental homes company Checkmyguest for INR 230 Cr ($27.4 Mn) in a cash and stock transaction, just a few days after raising INR 1,457 Cr (approximately $175 Mn) in a down round. According to OYO, the acquisition will involve the issuance of 72.9 million shares. Nevertheless, the amount of the cash payment was not disclosed. The acquisition also encompassed the luxury rental apartment #management company Studio Prestige and the housing renovation business HMG, which was previously known as Helpmyguest. Checkmyguest was founded in 2016 by Julien Madar, Joffrey Ichbia, and Kevin Cohen. It provides holiday rental properties, including homestays and luxury apartments. To share your startup information write us on - startup@viestories.com Read more - https://lnkd.in/gvTcGU_Q #acquire #startup #latestupdate #news #Checkmyguest