New Delhi : Hospitality Firm Stay Vista Pvt. Ltd said on Tuesday that it has raised 40 crore in a Series B funding round led by existing investor DSG Consumer Partners, with participation from Capri Global and CA Holdings.
The company has around 500 villas and homes on its platform across 50 locations in the country. Co-founder Amit Damani said the fund-raising is likely to accelerate growth.
“We want to scale by the revenue of More than 120 crores per year 1,000 crore in the next 3-4 years. For this, the company would like to have around 2,500 homes in the portfolio.” Founded in 2015, the company is adding food and beverage and spa services to boost revenue.
Most of the company’s rentals are in two Lonavala and Goa, where it has signed 100 and 50 villas respectively. Damani said that it also has a large number of houses in Kasauli.
In March, the company rebranded itself from ‘Vista Rooms’ to ‘Stavista’ to focus primarily on being a hospitality partner for villa owners, and not just a platform where customers can find home stays. Including this round, the company has now 58 crores since its inception in 2015. In 2021, it had mobilized 100 million ($1.32 million) funding led by DSG Consumer Partners, with participation from CA Holdings, Earth India Ventures and Everest Flavors founder Anand Ladsaria. Companies such as Singapore Angels Network and individuals such as Sequoia Capital’s Rajan Anandan also invested in the firm’s Angel round.
Hari Premkumar, India Head, DSG Consumer Partners, said Stevista has shown resilience in navigating the pandemic while driving revenue growth in a capital-efficient manner.
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