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Zo Rooms secures $30M in fresh round of funding from Tiger & Orios

Room rental service Zo Rooms has raised $30 million from existing investors Tiger Global Management and Orios Venture Partners, reports ET. The startup will use the funds for expanding to other cities. Note that just last month Zo Rooms had raised an undisclosed amount from the same investors, an amount to be pegged at $5 million by the current ET report. The company had said then that it would use the funds for marketing, brand building and improving its technology. Interestingly, the Zo Rooms funding comes within a week of competitor OYO Rooms raising $100 million in funding led by SoftBank Group and with participation from existing investors Greenoaks Capital, Sequoia Capital and Lightspeed India. OYO rooms had also raised $20 million from Greenoaks Capital and other existing investors in March. As of now, Zo Rooms offers room rentals in 25 cities, including Delhi, Chennai, Mumbai, Pune, Mysore, Varanasi, Hyderabad and Bangalore. To book a room, users need to select the city they want the room in, the check in and check out dates, number of rooms, and number of people in the room. If not booking online, users are provided with a number to call the company and rent the room. Zo Rooms claims that it will have 2000 hotels in 60 cities by the end of this year. Competition: - In February, Chennai-based Insara Technologies, which operates hotel booking site Stayzilla, raised $20 million in a Series B round of funding led by Nexus Ventures with participation from…

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