Delhi-based youth travel hostel brand goSTOPS has raised Rs 35 crore ($4.2 million) in its Series A funding round.
The round was led by Blume Ventures and co-led by 1Crowd, with participation from Mumbai Angels, Chennai Angels, Indian Angel Network, Lead Angels, and Yuj Ventures.
This fresh capital infusion follows a $1 million bridge round raised in December 2021 from existing investors, including The Chennai Angels, Mumbai Angels, and Yuj Ventures.
goSTOPS plans to utilize the funds to strengthen its operations, enhance technology, and elevate the social and experiential aspects of its properties.
Additionally, the company is in the process of finalizing debt partnerships to further expand its financial resources for growth.
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Founded in 2014 by Pallavi Agarwal and Pankaj Parwanda, goSTOPS focuses on offering vibrant, social, and design-led accommodations for young travelers.
The hostel industry is witnessing significant traction, with goSTOPS competing against brands like The Hosteller, Wudstay, and Backpackers Panda.
Reflecting the increasing investor interest in this space, The Hosteller recently raised $5.7 million in its Series A round in November 2024.
