The Hosteller Secures Rs 150 Crore for Expansion

The Hosteller has raised Rs 150 crore in Series B funding led by PROMAFT Partners and V3 Ventures, with plans to expand its network and enhance brand visibility. The initiative includes launching a travel super app to integrate accommodation, F&B, and mobility into a single platform.

The Hosteller, a prominent backpacker hostel brand, announced on Thursday the acquisition of Rs 150 crore in a Series B funding round. This funding was spearheaded by PROMAFT Partners and V3 Ventures, with participation from ITI Growth Opportunities Fund, Merisis Wealth Trust, and notable family offices.

The fresh capital is earmarked for accelerating expansion across key travel destinations, along with bolstering operational efficiencies and brand development. The Hosteller aims to increase its capacity to 25,000 beds within 36 months, as part of its vision to become a leading name in the hospitality sector.

Founder and CEO Pranav Dangi revealed plans to launch a comprehensive travel super app that will integrate diverse services such as accommodation, F&B, mobility, and curated experiences, thus enhancing the user experience in the travel domain.

(With inputs from agencies.)