Backpacker hostel chain The Hosteller, chemical recycling and sustainability startup RecommerceX, customer support solutions provider LiaPlus AI and electric propulsion technology solutions startup Nautical Wings have raised early-stage funds, the companies said on Thursday.
The Hosteller
The Hosteller, a backpacker hostel chain, has raised $4 million (about Rs 32 crore) in its Series A funding round led by V3 Ventures.
The round also saw participation from existing investors including LV Angel Fund, FAO Ventures, Synergy Capital Partners, Unit-e Consulting, Ice.VC (backed by Mrunal Jhaveri), Thrive Ventures, Chirag Jain and several real estate-based family offices.
The new investment elevates The Hosteller’s valuation to Rs 200 crore (around $25 million).
The funds will be strategically utilised to expand The Hosteller’s footprint, with plans to expand to over 150 locations across India within the next 24 to 30 months. The startup aims to strengthen its hold in existing metro cities while also venturing into new travel destinations, with a particular focus on providing high-quality, immersive travel experiences for backpackers.
Founded in 2014, The Hosteller operates in 60 locations nationwide, including major metros and scenic spots in Himachal Pradesh, Uttarakhand, Karnataka, and more.
For the fiscal year ending March 2024, The Hosteller reported a topline of Rs 55 crore.
RecommerceX, a chemical recycling and sustainability startup, has raised $3.6 million in a seed funding round led by Accel and Kae Capital.
The company plans to utilise the seed investment to strengthen its team, develop its technology platform, invest in R&D for advanced material recovery and scale its business operations in India and other geographies.
RecommerceX target customers include medium to large manufacturing and EPC companies.
Founded in 2024 by Shobhit Goel, Mohit Gulyani and Ajay Gupta, RecommerceX specialises in processing industrial waste to recover critical materials and useful by-products that serve as raw materials for its customers. The company operates across various categories, including plastics, metals, and e-waste, it said in a statement.
Customer support solutions provider LiaPlus AI has raised Rs 2 crore in a seed round led by Inflection Point Ventures. Other co-investors in the round are Chandigarh Angel Network (CAN) and Growth91.
The funds will be used for driving advancements in product and technology, expanding the team and enhancing sales and marketing strategies, the company said in a statement.
LiaPlus AI is a customer support platform utilising AI technology. It delivers multilingual support in 18 languages. Moreover, it offers a marketplace for businesses to hire AI-driven customer support employees.
Venture Catalysts and 1Crowd invested an undisclosed amount in Nautical Wings Aerospace’s pre-Series A funding round.
Founded in 2020 by Shiv Varun Singh Rajput, Praveen T, and Vikas Kamath, Nautical Wings Aerospace offers electric propulsion technology solutions to aerospace, maritime, defense and logistics sectors.