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October 14, 2014

Deal Alert: Seedfund invests $2-M in resort room aggregator V Resorts

V Resorts, a Noida-based company aggregating boutique hotel chains, has raised close to $2 million (about Rs. 12 crore) in pre-series A funding from Seedfund. V Resorts, founded by Aditi Balbir in 2012, aggregates existing properties and takes over the management and operations of those properties on a revenue share basis on a 10-15 year lease. The company will use the new capital to expand its capacity of rooms to 300 from the current 80 over the next 5-6 months. V Resorts currently operates six properties located in Uttarakhand (Sattal, Ramgarh, Corbett, Pauri and Rajaji National Park), Himachal Pradesh and Rajasthan. By March 2015, it hopes to hit at least 10 properties. 

The company had earlier raised a seed round from Bedrock Ventures, which had also incubated the venture. Bedrock has not participated in the current round but remains invested in the company. 

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