PROMAFT, V3 Ventures Co-Lead USD 16 Mn Round in The Hosteller
The round also saw participation from ITI Growth Opportunities Fund, Merisis Wealth Trust, and several family offices.
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Backpacker hostel chain The Hosteller has raised INR 150 crore (about USD 16 million) in a Series B funding round co-led by PROMAFT Partners and V3 Ventures, with participation from ITI Growth Opportunities Fund, Merisis Wealth Trust, and several family offices.
The Mumbai-based company had earlier secured USD 5.7 million in a Series A round led by V3 Ventures in November 2024, along with USD 1 million in a pre-Series A round led by FAO Ventures in November 2021.
The latest funding will be used to accelerate expansion across key travel destinations, while also improving operational efficiency and strengthening its brand presence.
Founded in 2014 by Pranav Dangi, The Hosteller focuses on providing affordable and standardized accommodation for young travellers, digital nomads, and explorers. Its offerings include dormitories, private rooms, and in-house cafes designed to promote community-driven travel experiences.
The company said it operates more than 75 properties across 13 states and has hosted over 20 lakh travellers to date. In the past year, it added over 30 properties and increased its traveller capacity by nearly 70%.
Looking ahead, The Hosteller aims to scale up to 25,000 beds nationwide within the next 36 months. It is also working on launching a travel super app that will integrate accommodation, food and beverage services, mobility, and curated experiences.
The company competes with goSTOPS, Wudstay, and Backpackers Panda.
Backpacker hostel chain The Hosteller has raised INR 150 crore (about USD 16 million) in a Series B funding round co-led by PROMAFT Partners and V3 Ventures, with participation from ITI Growth Opportunities Fund, Merisis Wealth Trust, and several family offices.
The Mumbai-based company had earlier secured USD 5.7 million in a Series A round led by V3 Ventures in November 2024, along with USD 1 million in a pre-Series A round led by FAO Ventures in November 2021.
The latest funding will be used to accelerate expansion across key travel destinations, while also improving operational efficiency and strengthening its brand presence.
Founded in 2014 by Pranav Dangi, The Hosteller focuses on providing affordable and standardized accommodation for young travellers, digital nomads, and explorers. Its offerings include dormitories, private rooms, and in-house cafes designed to promote community-driven travel experiences.
The company said it operates more than 75 properties across 13 states and has hosted over 20 lakh travellers to date. In the past year, it added over 30 properties and increased its traveller capacity by nearly 70%.
Looking ahead, The Hosteller aims to scale up to 25,000 beds nationwide within the next 36 months. It is also working on launching a travel super app that will integrate accommodation, food and beverage services, mobility, and curated experiences.
The company competes with goSTOPS, Wudstay, and Backpackers Panda.
