The Hosteller Raises Rs 48 Cr in Funding Round

Mumbai, Nov 7 (PTI) Backpacker hostel brand The Hosteller on Thursday said it has secured Rs 48 crore investment in a funding round led by V3 Ventures.

The Series A funding round also saw participation from prominent investors including Synergy Capital Partners, Unit e Consulting LLP, Real Time Angel Fund (Climber Capital), Ice VC led by Mrunal Jhaveri, and AL Trust (Thrive Ventures), The Hosteller said in a statement.

Notable individual investors joining the round include Harsh Shah from Naman Group Family Office, Akash Hiren Zaveri, founder of Plix and Vedang Patel, founder of The Souled Store.

"This strategic investment will further strengthen our mission of delivering standardised offerings pan India enabled by tech-first approach to the backpacking community. We aim to have 10,000 beds by March 2026, from the existing 2,500 beds. Backpacker hostels have become the go to choice for GenZ and millennials travellers in the post-Covid era. The fresh capital will not only accelerate our expansion but also help us acquire customers from the newer territories," The Hosteller Founder and CEO Pranav Dangi said.