StayVista Bags INR 40 Cr Funding Led By JSW Ventures

Luxury Villa Rental Startup StayVista Bags INR 40 Cr From JSW Ventures & others

SUMMARY

StayVista’s Series B funding round was led by JSW Ventures, with participation from DSG Consumer Partners and Capri Global Family Office

The Mumbai-based startup will deploy the fresh proceeds to expand into new geographies, strengthen its team and boost the supply-side of the services

The startup was able to trim its net loss by 29.22% to INR 82.81 Lakh in FY24 from INR 1.17 Cr in the year ago period

Luxury villa and homestay rental startup StayVista has raised INR 40 Cr (around $5 Mn) in a Series B funding round led by JSW Ventures, with participation from existing investors DSG Consumer Partners and Capri Global Family Office.

StayVista plans to use the fresh proceeds to expand into new geographies, strengthen its team and boost the supply-side of the services.

Ankita Sheth, Amit Damani and Pranav Maheshwari banded together to launch Vista Rooms in 2015. Initially, the startup offered budget accommodations to users on its online platform but later pivoted its business to offer luxury properties and homestay on rent via StayVista.

The Mumbai-based startup runs a B2C and B2B model. Under its B2C offerings it offers luxury properties to its online users on rent, while under its B2B vertical it offers maintenance services to property owners and charges them a fee apart from the listing charges.

The startup has also partnered with online aggregators MakeMyTrip (MMT), Goibibo and Airbnb to expand its bookings. StayVista claims to have a presence in more than 85 destinations with over 1,000 properties and has served over 1 Mn guests on its platform.

The startup has so far raised $6.39 Mn, according to Inc42’s datalabs, and also counts CA Holdings among its backers.

As per Tofler, StayVista’s standalone operating revenue jumped 23.17% to INR 14.03 Cr in the financial year ended March 31, 2024 (FY24) from INR 11.39 Cr in the previous fiscal year.

On the back of its growing topline, StayVista also trimmed its net loss by 29.22% to INR 82.81 Lakh during the fiscal year under review from INR 1.17 Cr in FY23.

StayVista competes with the likes of Elivaas and Vivanta Stays to tap into India’s luxury residential real estate market which is expected to breach the $105 Bn mark by 2030.