Hotel booking platform Stayzilla has raised over $13 Mn in a Series C round of funding led by its existing investors Matrix partners and Nexus Ventures, reported Mint according to the documents filed with the RoC (Registrar of Companies).
According to the report, the funding round was split into three tranches of $8.8 Mn (INR 58.5 Cr), $1.9 Mn (INR 13 Cr) and $2.4 Mn (INR 16.3 Cr), between November 2015 and March 2016.
Earlier in 2015, Stayzilla had raised $20 Mn in Series B funding from Nexus and Matrix Partners and prior to that, it had raised $0.5 Mn from Indian Angel Network (IAN) in 2012.
Stayzilla was started as Inasra, an online travel agency for hotel booking, by Yogendra Vasupal (Yogi), Rupal Yogendra and Sachit Singhi, in 2005. Five years later, in 2010, it pivoted the business into a hotel aggregator model and renamed it Stayzilla.
Stayzilla’s business is divided into three categories – Structured, comprising of 2, 3 and 4-star hotels; Unstructured, comprising of 1-star or 0-Star hotels and lodges; and Alternative Stay which includes homestays, hostels, and bed & breakfasts. According to its website, it currently offers 30,000 stay options including hotels, lodges, homestays and guest houses across 4,500 cities.
The company plans to utilise the raised capital to improve product, technology and marketing initiatives for the alternate stay business.