Bengaluru: Online budget hotel booking sector in India seems to be on roll as Zo Rooms, a New Delhi based online budget hotels chain, raises $30 million in a fresh funding round from its existing investors Tiger Global Management and Orios Venture Partners. The company plans to expand its business operations to all major cities across India using the newly raised capital. Prior to this, it had closed its Series A funding round led by the same investors last month.
Established in 2014 by serial entrepreneurs – Paavan Nanda, Tarun Tiwari, Abhishek Bhutra, Akhil Malik, Chetan Chauhan and Siddharth Janghu, Zo Rooms is a user-friendly low-budget hotel chain which enables the users to book rooms at their desired locations at very reasonable prices. The users can avail the services through the Zo Room’s mobile application wherein the app automatically detects the location of the user through GPS and gives a list the nearest Zo Rooms available for booking.
The company claims to add five hotels to its portfolio each day and to expand to two new cities every week. Currently, the company offers its services in 30 cities with close to 400 hotels, and plans to increase its areas of operation to 60 cities by the end of this year.