Chennai based online hotel booking portal StayZilla has raised funding from Indian Angel Network. Financial details of the transaction were not disclosed.
Stayzilla was started in 2005 by Yogendra Vasupal as Inasra Technologies and rebranded in 2010 as Stayzilla. Stayzilla focuses on tier II towns and ensures that travellers can easily search and locate thousands of budget hotels across India, many of whom are not online. It has 3,800 hotels, lodges and even boathouses in its network.
Steelcast Ltd. is a 55 year old renowned company in steel casting industry having a successful track record.Equity Capital amounting to Rs 1214.40 lacs was raised through Preferential Allotment of 20,24,000 Shares issued at Rs 60 per Share (Including premium of Rs 55 per share).