Funding News: Youth Travel Hostel Brand 'goSTOPS' gains 35 crore in Series A

Startup: goSTOPS

Founder: Pallavi Agarwal, Pankaj Parwanda

About us: goSTOPS threw open its doors in 2014 based on the simple belief that travel changes lives. When you go MORE, you be MORE: be it at the start of the journey when you’re braving your first solo train ride; in the middle, when you’ve found a kindred spirit in a complete stranger; or at the end, when you’re left with a head full of memories that will help you coast along till the next trip.

Founded Year: 2014

Office: New Delhi

Sector: Travel

Funding Round: Series A

Investors: 1Crowd, Blume Ventures, Yuj Ventures, Lead Angels, Indian Angel Network, Chennai Angelsand Mumbai Angels

In its Series A round, which was co-led by 1Crowd and directed by Blume Ventures, the youth travel hostel brand goSTOPS raised Rs 35 crore ($4.2 million). Yuj Ventures, Lead Angels, Indian Angel Network, Chennai Angels, and Mumbai Angels also took part in the round.

The Chennai Angels, Mumbai Angels, Yuj Ventures, and other current investors contributed $1 million to goSTOPS's bridge round earlier in December 2021.

The money raised will be utilized to improve technology, fortify operations, and improve the social and experiential elements of its current properties.

Additionally, in order to increase its war chest for the brand's growth, the corporation is finalizing financing partnerships.

Pallavi Agarwal and Pankaj Parwanda founded goSTOPS, which provides the younger generation with lively, social, and design-driven venues. In the next 24 months, the Delhi-based company plans to achieve 4X growth by increasing its capacity from 2,500 to 10,000 beds across 100 locations.

70% of young travelers now choose hostels over conventional hotels, according to market data, highlighting the category's rising popularity.

Website: https://gostops.com/