Hospitality Startup Brevistay Raises INR 3 Crore From IAN In Seed Round
The investment will enable the company to develop more creative ways to create a convenient and beneficial ecosystem for customers and the hotels
Brevistay, a pay-for-hour room booking startup, has raised INR 3 crore in Seed funding. The funding round is led by IAN lead investors Uday Chatterjee, Hari Balasubramanian and Sri Prakash. The investment will enable the company to develop more creative ways to create a convenient and beneficial ecosystem for customers and the hotels
"We are changing the unit of hotel bookings. It is not all about room night, you also have hotel hours. We are breaking the pre-existing and centuries-old pattern of the noon check-in and 11 am check-out system and creating a new way of conducting the business. With this investment, we are looking at expanding, so we can take this concept to larger audiences across more cities," said Prateek Singh, co-founder and CEO, Brevistay.
With presence in more than 70 cities with over 2800 hotels and having more than 8 lakh app downloads, Brevistay is a promising startup in the tourism sector in India, leading an innovative concept of micro-stay hotel bookings. The company bounced back strongly with a 1.5 times growth in the nine months after the first lockdown and recorded a 250 per cent spike in the numbers in the next nine months after the second wave Covid-19, as per company statement.
"We are backing a good team of founders who have built a business which has tremendous potential in India. We are expecting the company to become a category leader in hourly booking for hotel rooms and similar facilities. Our investor network in IAN will also help the company in all possible ways for helping them realize their full potential," said Sri Prakash, lead investor, IAN.
Founded in 2016, Brevistay aims to solve customers' most common problem of overpaying for short stays at hotels. The check-in issue at odd times also gets resolved as the hotels registered on the platform can be booked for three hours and paid accordingly, making Brevistay an answer to a cost-effective way of adding comfort.