wordpress blog stats
Connect with us

Hi, what are you looking for?

Stayzilla raises $20 million funding led by Nexus Ventures Partners

Chennai-based Insara Technologies, which operates hotel booking site Stayzilla, has raised $20 million in a Series B round of funding led by Nexus Ventures and with participation from existing investor Matrix Partners India. The funds will be used for expanding into new cities, developing a stronger brand platform, as well as for increasing the partner network and as part of the deal, Anup Gupta, managing director, Nexus Venture Partners, will join the board of the company. Founded in 2005, Stayzilla, operated by Inasra Technologies Private Limited, is a hotel booking portal which allows users to search and book hotels across Indian cities with a specific focus on tier 2 and tier 3 cities in the country. The site also offers options to filter results based on budget, amenities, ratings, cuisine and other variables. In 2013, Stayzilla had raised an undisclosed amount of funding from Matrix Partners, in return of a minority stake in the company.In 2012, the company had raised $500,000  from Ravi Krishnappa, one of the founding partners of the angel fund VertExperts, who led the investment as part of the Indian Angel Network (IAN). Competition Stayzilla faces competition from more established online travel agents such as MakeMyTrip, Cleartrip and Yatra whose hotel booking services has been growing at an impressive rate. At MakeMyTrip, hotels and packaging business contributed for 44.2% of MakeMyTrip’s net revenues for the quarter ended December, and the segment's revenues grew by 43.5% to $15.8 million for the quarter, from $10.99 million in the same quarter last year. Meanwhile at Cleartrip, reported a 98% rise in hotel…

Please subscribe/login to read the full story.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?

News

After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples

News

In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection

News

The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.

News

The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ