Zostel, a backpacker hostel chain for young travellers, has received an angel funding of INR 5 crore from Malaysia-based angel investor Presha Paragash.IIM Calcutta graduate Paavan Nanda founded Zostel in August 2013 along with six other friends with an initial capital of Rs. 20 lakh. Zostel is looking to create the European backpacking experience in India but with a local flavour.
Source: Economic Times
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.