The funding round has resulted in a surge in valuation for Mumbai Angels Network’s investors.
Mumbai Angels Network, a premium startup investment platform for early-stage venture investments, has invested USD 1.2 million out of a total investment of USD 3.3 million in Bookingjini, a hospitality SaaS platform and a one-stop solution for hotels that offers a complete Hotel Operating System, that has raised funding in its Pre-Series A round. The funding round has resulted in a surge in valuation for Mumbai Angels Network’s investors. Bookingjini will use the fresh capital for Product development and global expansion.
Speaking on the valuation surge, Nandini Mansinghka, Co-Founder & CEO – Mumbai Angels Network, said, “India’s startup ecosystem has grown tremendously in recent years and witnessing a startup from a Tier-II city in the SaaS segment having such a growth trajectory as Bookingjini is nothing short of remarkable. Bookingjini has truly established its presence in nearly every state in the country and has also expanded beyond India’s borders. We are pleased that the platform’s recent fundraising has resulted in an increase in valuation for our investors. Bookingjini no doubt has the potential to grow and scale further and we are confident that they will soon be an industry leader.”
“Despite the initial pandemic-induced disruptions, hotels have begun to revive business as people gradually begin to resume traveling. At Bookingjini, our vision is to create best-in-class experiences for travelers and to become the preferred partners for hoteliers by enabling them to transform and grow their business and to make travel better, faster and cheaper. We are elated to have secured our Pre-Series A round of funding from eminent investors who have been backing us in our journey. Bookingjini has grown immensely since inception, and we look forward to furthering our growth to reach new heights in the coming years and become the #1 one-stop destination for hoteliers,” added Sibasish Mishra, Founder of Bookinjini.
Aiming to help hotels convert browsers to customers, Bookingjini, a Bhubaneshwar-based startup, was founded in 2017 with the Odisha Tourism Development Corporation at their Bhubaneshwar and Puri properties. The same year, the startup received a grant worth INR 20 lakhs from Startup Odisha a. Since then, it has expanded its offerings to hotel distribution, customer outreach, revenue generation, marketing, and more. Looking to emerge as the go-to growth engine for the hotel industry, Bookingjini anchors on four key principles – making travel faster, more affordable, and better with cutting-edge technology and acting as a catalyst for every traveler’s story. The platform is currently backed by Mumbai Angels Network, Neotech Hub, and TiE Angels and looks to close FY22 with an ARR of INR 10 Cr. Today they provide their solution to Kerala
Tourism and Tamandu Tourism as well.
“This is a superpower in the world of hospitality because this is not only a guest management system but also a distribution system, a property management system, & guest delight system which is unparalleled from what I’ve seen.” Says Mr. Kapil Chopra, Chairman Eazydiner and Founder CEO of Postcard chain of hotels says. He was the president of Oberoi group of hotel.
Source: Business World