Bangalore, October 25, 2016- NightStay, India’s first last minute hotel booking app, raises Rs.2 Crore in its Angel Round from Indian Angel Network and others on LetsVenture.
“NightStay is solving a unique problem faced by the hotel industry as well as by customers. NightStay’s curated marketplace creates a win-win scenario for customers (deep discounts) / hotels (liquidity). Due to its sharp focus, NightStay will be able to create a brand name and shall dominate last minute booking space with a limited budget, a fact which is well supported by the traction achieved by NightStay in limited time/budget.” said Shailesh Vikram Singh, partner at SeedFund.
“NightStay is a great example of a startup which has created a new category in India and dominated it. NightStay has moved the needle in the industry beyond the commoditized OTA model to enable hotels to monetize vacant rooms smartly at the last minute. At the same time, ever-discerning consumers are able to book luxury hotels at prices which would otherwise only give them budget hotels. Value is being unlocked for both sides by increasing utilisation at hotels (which is shockingly low at luxury hotels today). NightStay’s growing traction and category leadership enabled them to raise a majority of the round on LetsVenture very quickly.” said Shanti Mohan, Founder of LetsVenture.
NightStay started with successful MVP in March 2015, in just 3 cities. Since then, they have launched in 14 cities with almost 78K+ app downloads (Android and iOS). The majority of these downloads have come organically and by word-of-mouth. NightStay only targets hotels in the organized category (5-Star, 4-Star and Boutique) to maintain a high standard of quality of service and hospitality. By taking the dead & unsold inventory for the last day from the hotels, NightStay is able to give low prices to customers and give business to the hotels against the inventory that they were not planning to sell. Luxury accommodation experience to the deal seekers at budget accommodation prices.
NightStay is a last minute hotel booking app for unplanned travellers. They help upscale hotels monetize their expired/excess inventory and at the same time provide fabulous discounts to unplanned travellers.
Founded in 2013, LetsVenture enables startups and investors to discover and connect with each other. There are 12000+ startups and 2000+ investors on the platform. Once a startup has verbal commitments from investors, we help them in the funding closure process through our Commitment-to-Closure package. The package takes care of closure of term sheet & shareholders agreement, and complete legal & financial due diligence. LetsVenture has enabled more than 85 startups to raise over $35mn.