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.
Mumbai based AGS Transact Technologies is planning to raise R400 Cr by issuing fresh equity shares to the public. With the promoters and PE investors Actis and TPG making a offer for sale worth R950 Cr, the total IPO size goes upto R1350 Cr,