FAO Ventures and CA Holding LLP launched a $1 million fundraising round for The Hosteller, one of India’s fastest growing backpacker hostel networks.
The Hosteller, founded in 2014 by Pranav Dangi, is a one-of-a-kind chain of backpacker hostels and an ideal pit-stop for both international and domestic travellers. The Hosteller offers experiential yet affordable and quality lodging with a variety of activities that all ‘young-at-heart’ travellers from around the world can enjoy while staying in a clean, safe, and sophisticated environment.
Commenting on the latest fundraise, Pranav Dangi, Founder of Hosteller, said, “People are looking for more experience-driven stays that are pocket-friendly, safe, and comfortable rather than just luxury when it comes to their vacations. The Hosteller was founded with the aim of creating lasting memories for everyone looking for more than just a vacation in India. The fresh capital infusion will help us reach new heights and we are happy to have marquee investors backing us in our journey.”