With the ongoing messy relationship between the budget hotel chains ZoRooms & Oyo Hotels, there is another startup which is silently rooting out its way to lead in this category. Budget accommodation startup, Fabhotels has secured $5 Mn funding from Accel Partners and Kalaari Capital in its first institutional round of funding.
Fabhotels plans to use the infused funds to establish a pan-India footprint and going forward, it also plans to invest in consumer and operator facing technology.
Commenting on its first funding Fabhotels’ co-founder Vaibhav Aggrawal said, “We are not merely aggregating rooms, but delivering a wholesome hospitality experience to our guests. Technology can play a more encompassing role in delivering the right experience in the hospitality industry.”
Founded in 2012 by Vaibhav Aggrawal and Adarsh Manpuria, Fabhotels, earlier known as Casa2inns, is presently spread across six cities with more than 50 hotels on its platform.
We tried reaching out to the founders for further details, Adarsh Manpuria confirmed the development, however, he declined commenting further.
Prashanth Prakash, Partner, Accel Partners said, “Today’s aspirational traveller is really sensitive to the experience and lowest price is not the primary decision criterion. We are also convinced that technology is broken in hospitality industry and only a player offering a full range can comprehensively solve that problem.”