Bengaluru based startup RoomsTonite- a mobile booking app, has secured angel funding amount of $1.5 million from a clutch of investors.
The funding has been led by Lashit Sanghvi, Co-founder of Alchemy Capital; Nikhil Vora, founder of Sixth Sense Ventures; Venkat Vardhan, promoter of DNA Networks; Mohammed Bin Abdul Rehman Al Khalifa, chairman of Caravan Group; and Ralph Berezan of Berezan Group of Canada invested in this round. Vissal Mathew and Balamurali Krishna of IDS Software also contributed to this round in RoomsTonite.
The company will use these funds to further expand their services in India and other countries and to strengthen its team to complement their capabilities. RoomsTonite is a last-minute hotel booking app that helps customers to book hotel rooms at discounted rates. The app enables users to book hotels for the same day or up to three days/nights including the booking day.
Founded by hospitality and travel industry veteran Suresh John, the Bengaluru headquartered RoomsTonite claims that it has witnessed meteoric growth from its business and user base standpoint. The company boasts of over 2 lakh downloads in a span of less than a year.
The company has so far directly partnered with over 4000 hotels across 325 destinations in India. It is also in talks with a couple of institutional investors to raise $7 million to $10 million in Series A funding for expansion.
Apart from this, Paytm has also partnered with RoomsTonite to offer last minute hotel bookings. Over 100 million Paytm customers can book over 4000 hotels available with RoomsTonite using the Paytm app on Android.
The company directly competes with NightStay, a last minute hotel booking application which raised about $500,000 in a pre-seed round from BedRock Ventures, Rajesh Sawhney of GSF and Shailesh Vickram Singh, partner at SeedFund in August.Category Investments News