StayZilla.com Raises Half a Million USD from Indian Angel Network
Hotels aggregator & online booking firm StayZilla.com, formerly Inasra.com, received USD 0.5 million from Indian Angel Network (IAN). The funds will be primarily used for marketing.“Currently, StayZilla has 4,000 hotels listed on the site from 600 cities across India. In 6 months, we plan to increase this number to 900 cities. We are adding hotels at an aggressive pace,” said Founder, Yogendra Vasupal.
Speaking of the traction, Yogendra said, “We do atleast 80 room nights a day. Our advertising spend so far has been zilch.” Also, commenting on the geographical reach, Yogendra said, “60% of our bookings happen from tier-2 cities. We are very bullish on capturing the tier-2 market.”
With a team size of 22 as of now, StayZilla plans to double the number in 4 months time.
Yogendra also added that the strategic expertise that the lead investors, Amitabh Srivastava and Ravi Krishnappa, bring to the table is primary value-add over the monetary support.
StayZilla.com did a revenue of 2.5 crores in the last financial year, and aims at 10X growth this year.