Founded in 2012 by Shan Gehlot and Umesh Agarwal, Goa-based homestay accommodation listing platform, MyIndianStay has raised $200,000 in angel funding from institutional investors for building the product and adding quality properties on its portfolio. The startup is also in talks to raise series A funding.
As of now, the startup operates in Goa and is also expanding to other destinations in India. Currently, it offers more than 30,000 rooms at 5000 plus offbeat properties. The growth of properties on the site is rising at a rate of 20% month on month.
Out of these 5,000+ properties which listed on MyIndianStay’s platform, 30% properties have already been verified and the company aims to verify 100% properties by end of year 2016.
It offers accommodation in villas, home stays, guest houses and apartments to provide better experience to travelers. It has features like Smart Lock Integration which will allow the traveller to unlock the property using his/her smartphone; Host – Guest interaction platform allows a guest to chat with the property manager directly and both get a chance to know each other and Local Accommodation discovery tool is a way of discovery and booking the right property in the right budget.
MyIndianStay is also working to develop a mobile app based discovery tool which can allow a traveller to discover and book accommodations options in vicinity after reaching the destination.
Other players in the space are OyoRooms, ZoRooms, QiK Stay, HolidayIQ, Yatra.com etc.
Talking about their future plans, Umesh Agarwal said that, “The vacation rental space is evolving in India and is in its initial phase. We think that we are perfectly positioned to be part of this ecosystem and be the largest player in this huge unorganised sector in Indian Market. For this, we have worked in close proximity with our property owners to understand their various problems and build solutions accordingly.”