Vista Rooms plans to raise $10 m fund

 Online budget hotels aggregator Vista Rooms is planning to raise $10 million soon to fund its expansion plans. “We have already raised funds in pre-series A funding. Now we are looking at raising around $10 million in series A funding,” Vista Rooms co-founder Ankita Sheth told Deccan Herald.

The company is already in talks with potential investors and we hope to close a deal as soon as possible, Sheth added.

Vista Rooms is the largest player in the tier-II and tier-III markets, when it comes to budget hotel accommodation. The company, which was started by three co-founders Amit Damani, Ankita and Pranav Maheshwari, is now a 75-member strong team and their numbers are growing with plans to have offices in Delhi and other cities. The company has tied up The Oberoi, Taj and The Intercontinental Hotel Group for their hospitality management and training.

According to Sheth, the company is looking to expand its presence across the country besides looking to break even.

“At the current pace and bookings, we are hopeful of breaking even by early 2017,” Sheth said.

Today we are present in around 80 cities with 800 hotels, and our aim is to expand our presence to atleast 100 more cities this year and close to 1000 hotels as soon as possible, Sheth added.

Vista Rooms looking to raise $10 mn in Series A funding, hopes to break even by early 2017.

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