Hospitality startup Stay Vista Pvt. Ltd has raised Series B funding of Rs 40 crore (around $5 million) led by Singapore-based venture capital firm DSG Consumer Partners, with participation from Capri Global and CA Holdings.
The Mumbai-based firm plans to deploy the fresh proceeds to expand its footprint across India and strengthen its operations.
Founded by Amit Damani, Ankita Sheth and Pranav Maheshwari in 2015, StayVista offers services to create personalized experiences for every kind of stay - from personal celebrations to off-sites, to getaways. It has over 500 luxury villas across 50 destinations.
“This fundraise allows us to double down on our growth plans and accelerate building the most loved and trusted villa rental brand in India,” said Sheth.
“StayVista founders are building business sustainably with certain markets already achieving healthy operating margins. The team’s execution capabilities and customer-centricity has led to them emerging as a market leader in villa rentals, by a distance,” said Hari Premkumar, head of India, DSG Consumer Partners.
“The investment outlines our strategy of supporting strong founders in sectors with high growth potential. A strong founding team with deep industry experience further puts the company in a solid position to capitalize on the strong growth potential that this sector offers,” said Jinisha Sharma, Capri Global.
Deepak Shahdadpuri-led DSGCP had secured $65 million (₹465 crore then) for its third vehicle, overshooting the target of $50 million, in August 2019. At the time, it aimed to invest $500,000 to $2 million in a company.
In January this year, VCCircle reported that DSG is likely to raise around $120-125 million (Rs 894 -932 crore) for its latest fund.
The hospitality space has been garnering a lot of investors’ attention since post-pandemic period.
Last month, Brevistay raised Rs 3 crore (around $450,000) as a part of its seed funding round led by Indian Angel Network.