Bangalore-based online hotel reservations startup MiStay, has raised an undisclosed amount in seed funding from Axilor Ventures and a group of angels, a press statement said.
The startup will use the freshly raised funds for hiring talent and marketing, apart from expanding operations.
Founded in 2016 by Indian Institute of Technology Madras alumni Jaiswal and Pranav Prabhakar, MiStay is a travel-tech company that allows booking a hotel room by pack of hours with flexible check-in & check-out time.
In April 2016, Mistay was launched in just 2 cities (Delhi & Gurgaon) and with 12 hotels. Soon in next five months, the company launched its operations in eight more cities.
Currently, MiStay is operational in 30 locations and claims to have around 400 hotels on its network. Its partner hotels include branded chains such as The Park Hotels, Pride Hotels, Sarovar Hotels, Keys Hotels, Treebo Hotels and Mango Hotels. MiStay claims that its customer base has grown seven times in the last six months.
MiStay’s model is unique in that it offers slot-wise hotel bookings. A full day is divided into three slots: morning (8:00 am – 11:00 am); day (12:00 noon – 7:00 pm); and night (8:00 pm – 7:00 am). The customer can book any combination of consecutive slots based on need.
Asutosh Upadhyay, head of programs at Axilor, said in the statement, “MiStay has taken a customer-centric approach to hotel bookings… While giving travellers the best options, they are unlocking value in hotel inventory, making this a win-win solution for individuals and corporates.”
Axilor Ventures is led by Infosys co-founders Kris Gopalakrishnan and SD Shibulal.