Total amount raised
$1 Million
Latest funding date
7/1/2018
Location
Zostel has successfully raised funds through three different funding rounds, with the latest being a Venture - Series Unknown. The company has attracted investment from Orios Venture Partners, among others.
Keep reading to explore the intricacies of Zostel's fundraising journey and the investors backing this innovative platform.
What Is Zostel?
Zostel, headquartered in Jaipur, Rajasthan, India, is the first branded backpacker hostel chain in the country. Operating in the hospitality, service industry, travel, and travel accommodations sectors, Zostel has established itself as a prominent player in the market.
With a workforce of 101-250 employees, Zostel offers a variety of accommodations and travel experiences, including Zostel, Zostel Plus, Zostel Homes, Zo Houses, and Zo Trips. The company is private and has successfully raised funds through multiple venture rounds.
How Much Funding Has Zostel Raised?
- Amount Raised: USD 1,000,000
- Date: May 2014
- Lead Investors: Presha Paragash
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Zostel's operations to other major cities in India and enhance its technology infrastructure.
- Amount Raised: Not publicly disclosed
- Date: July 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing expansion and operational needs.
- Amount Raised: Not publicly disclosed
- Date: July 2018
- Lead Investors: Orios Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enhance service offerings.
Total Amount Raised: USD 1,000,000
Current Valuation: Not publicly disclosed
Key Investors
- Orios Venture Partners
- Details: Orios Venture Partners is a venture capital firm that has invested in Zostel. They are known for backing early-stage startups in India.
- Investment Focus Areas: Technology, consumer services, healthcare.
- Notable Investments: Zostel, PharmEasy, GoMechanic.
- Presha Paragash
- Details: Presha Paragash is an angel investor from Southeast Asia who has invested in Zostel. He joined Zostel’s board following his investment.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Zostel.
What's Next for Zostel?
As Zostel looks to the future, the opportunities for growth are vast. The company plans to expand its operations to other major cities in India and eventually to international markets. This expansion, coupled with enhancements in technology infrastructure, positions Zostel to capture a significant share of the budget accommodation market.
With the successful $1 million raise, Zostel is well-poised for future fundraising opportunities. The company’s ambitious plans for scaling operations and technological advancements suggest that additional funding rounds may be on the horizon to support these initiatives.
However, Zostel may face challenges such as logistical hurdles in scaling operations and competition from other budget accommodation providers. Ensuring consistent quality and customer experience across multiple locations will be crucial as the company grows.
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