You can be on Entrepreneur’s cover!

Zo World Secures EUR 15 Mn Capital From GEM Group The proceeds will continue towards building the next face of modern travel in a remote-first world, living, and working from anywhere

By Prabhjeet Bhatla

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

freepik

Zo World Limited, a travel startup that is building a decentralized travel marketplace, announced on Wednesday that it had signed an agreement with GEM Global Yield LLC SCS (GEM), a Luxembourg-based private alternative investment group, for a EUR 15 million capital commitment.

The brand, a new, independent entity, is a partner of Zostel, a community-led, experience-driven ecosystem – India's largest chain of backpacker hostels. Two of Zostel's founders lead Zo World and come with extensive experience in building and scaling travel and accommodation companies in the region.

Under the agreement, GEM will provide Zo World with a share subscription facility of up to EUR 15 million for a 36-month term following the public listing of the company shares on European or other Global National Stock Exchanges. Zo World will control the timing and maximum amount of drawdown under the facility and has no minimum drawdown obligation. In addition, concurrent to the public listing of Zo World Shares, GEM will receive warrants to purchase shares of the company.

Subject to the funding becoming available, the proceeds will continue towards building the next face of modern travel in a remote-first world, living, and working from anywhere. Using Zo World's mobile applications and knowledgebase, local hosts across the globe are building local travel economies for hosting travelers safely.

The Zo Travel platform is currently in the beta phase for early users. Marketplace tools and WhatsApp- based communication are being used by vendors across India ranging from transport, food, and experience partners to give an end-to-end connected travel experience never possible before. Zo Travel enables the new face of community-based travel and brings social back into leisure travel away from simple booking platforms and OTAs.

"Working with GEM towards an early public listing for a venture technology startup will help the Zo community become a part of the more extensive wealth creation process. A lot of technology start-ups delay their public listing, thus keeping the community away from gains. We wish to be the opposite and grow our decades' long journey with the public. We believe what we are creating is people first. The social layer of finding new people and making new friends safely across the globe makes us unique and is our vision for the future," said Dharamveer Singh Chouhan, co-founder and chief executive officer, Zo World Ltd.

Furthermore, this new travel startup, looking to become everyone's travel partner, had recently licensed the Zostel brand and signed a global Master Franchise agreement with Zostel Hospitality Private Limited (ZHPL) - India's largest chain of backpacker hostels and homes. This enables the platform to have a high-quality supply with established businesses and brands before the significant upcoming public application launch in early October.

Prabhjeet Bhatla

Former Staff

Leadership

You Won't Have a Strong Leadership Presence Until You Master These 5 Attributes

If you are a poor leader internally, you will be a poor leader externally.

Data & Recovery

Better Communicate Data with Your Team for $20 with Microsoft Visio

Visio features a wide range of diagramming tools that can support projects across all industries.

Side Hustle

He Took His Side Hustle Full-Time After Being Laid Off From Meta in 2023 — Now He Earns About $200,000 a Year: 'Sweet, Sweet Irony'

When Scott Goodfriend moved from Los Angeles to New York City, he became "obsessed" with the city's culinary offerings — and saw a business opportunity.

Science & Technology

AI Will Radically Transform the Workplace — Here's How HR Teams Can Prepare for It

HR intrapreneurs are emerging as key drivers of AI reskilling, thoughtful organizational restructuring and ethical integration, shaping an inclusive future where technology enhances both efficiency and employee development.

Health & Wellness

Do You Want to Live to Be 100? This Researcher Has the Answer to Why Longevity is Not a Quick Fix or Trendy Diet

Ozempic, cold plunges, sobriety and the latest health fads are not what science reveals will help you live a longer and healthier life.