Indian budget chain Zostel raises $1 million
Backpacker-focused hostel brand Zostel has raised around $1 million from Presha Paragash, an angel investor from Southeast Asia.
The India-based startup will be using the fund to expand to other major cities in India and ramp up its technology.
Paragash will also be joining Zostel’s board.
Founded in August 2013, the company has seven co-founders: Dharamveer Chauhan, Paavan Nanda, Akhil Malik and Tarun Tiwari – all are recent graduates from IIM Calcutta; other co-founders, Chetan Singh Chauhan and Abhishek Bhutra are from IIT-BHU, and Siddharth Janghu graduated from MDI Gurgaon.
Read full story at:http://www.tnooz.com/article/Zostel-raises-1-million/