AviBliss Inss, which is a Delhi based travel solutions and resort management startup, V Resorts has now secured $10 Million in the funding round.
The six-year-old company, which operates in more than 150 properties, has spread across the 22 states, has now secured a $14 Million in the equity financing. The syndicated list of investors that contributed in the round includes the Mohit Chuganee, and Vikram Puri.
V Resorts which was founded by the Indian School of Business, Hyderabad Alumni Aditi Balbir in the year 2014, and will use the funding to further build on its technology platform, and will also utilize a small portion to build the proprietary SaaS products for the hospitality industry.
Besides that, the company also plans to expand its footprint in India and also enter the new markets across the Middle East and South Asia with a target of reaching around 1000 properties and 15000 plus rooms in the coming three years.
“There is a general shortage of hotel rooms in leisure destinations across India. V Resorts uses technology to improve discoverability and monetizes idle inventory across locations,” Puri, director – Archer Hospitality, said in a written statement.
“This kind of business model allows V Resorts to be a hotel operator with lower capital investment, thereby improving returns on net capital invested and also allows them to scale up and grow at a rapid pace. Just think of it like the Uber of hotels in smaller offbeat locations,” Chuganee said in the official statement.
Picture Credits: V Resorts