The money will be used for expansion in India and other countries as well as to strengthen the team
RoomsTonite, a mobile-only last-minute hotel booking app in India, has secured US$1.5 million in angel funding from a clutch of investors, including Lashit Sanghvi, Co-founder of Alchemy Capital; and Nikhil Vora, Founder of Sixth Sense Ventures.
Venkat Vardhan, promoter of DNA Networks; Mohammed Bin Abdul Rehman Al Khalifa, Chairman of Caravan Group; Ralph Berezan of Berezan Group of Canada, along with Vissal Mathew and Balamurali Krishna of IDS Software also co-invested.
The money will go into the expansion of RoomsTonite’s services in India and other countries, as well as to strengthen the team.
The Bangalore-based startup was founded in June 2014 by hospitality and travel industry veteran Suresh John. RoomsTonite is basically a platform for business and impulse leisure travellers. Whenever they are in need of a hotel stay, they will be able to get a quality hotel at great rate. This helps the consumer save some money while at the same time helping the hotel to sell their unsold inventory.
Users can book hotels under three categories: luxury, premium and comfort. The service is free for the consumer, while the startup charges a percentage of the booking value from hotel partners.
The company today boasts of over 200,000 app downloads and a high percentage of repeat users.
“On the hotels front, we are a unique platform to help sell their unsold inventory (which otherwise would have been empty). So, hotels can earn additional revenue through RoomsTonite, and therefore increase their revenue per available room,” said John.
Till now, the company has directly partnered with over 4,000 hotels across 325 destinations in India.
In this space, there are players like VentureNursery-backed HotelsAroundYou operating in India. Leading online travel portals such as Expedia and goibibo also offer last-minute booking services.
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