This 6 month old Indian startup just raised $500,000 funding!

This 6 month old Indian startup just raised $500,000 funding!

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.Founded by Sanjeev Newar and Chirag Gupta, Deyor – a budget hotel chain, has recently raised an angel funding of $500,000, from RedCliffe Capital – a London based investment banking & principal investment firm, and a few other un-named investors.

Deyor aggregates selected budget hotels and converts them into Deyor Star hotels after rigorous quality audits, to ensure consistent high quality hotel experience for their customers – that starts from the ease of locating the hotel, painless check-ins, clean linens/towels, hygienic washrooms, free Wi-Fi, complimentary breakfast and dedicated 24/7 concierge.

Deyor Red Star Mahipalpur Extension.
Deyor Red Star Mahipalpur Extension.

Deyor is establishing their own standards of star hotel bench-marked to global standards, and claim to be extremely strict about their selection, as evidenced by 90% rejection of the 400 hotel properties that applied for their star rating.

They have brought in industry experts from Carlton, ITC Hotels, Taj Hotels and Premier Inn, to serve on their standardization advisory team, in response to majority of their bookings coming from corporates.

Deyor is accepting 1000 bookings every night, at the moment. The goal is to reach 5000 bookings, 38 cities and 700 hotel rooms, soon.

 Following the funding round, Dheeraj Jain from RedCliffe Capital would be joining the founding team, and focussing on expanding Deyor to other cities, stepping up their marketing game and standardizing even more hotel rooms.

Dheeraj Jain, Redcliffe Capital would be joining the founding team of Deyor.
Dheeraj Jain, Redcliffe Capital would be joining the founding team of Deyor.

In an interview with TechCircle, Dheeraj said,”We are focusing on partnering with properties which require minimal changes and minimal investment.”

The six month old start-up faces tough competition against other budget hotel room offering services, mainly OYO Rooms, WudStay, Zo Rooms, VistaRooms, QiK Rooms, goStays by Goibibo, TG Rooms by Yatra and ZiP Rooms.

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