India, March 11 -- Backpacker hostel startup goSTOPS has secured INR 35 Cr (around $4.2 Mn) as a part of itsSeries A funding round led by Blume Ventures.

The round also saw participation from 1Crowd, along with existing investors Mumbai Angels, Chennai Angels, Indian Angel Network, Lead Angels and Yuj Ventures.

While Blume infused INR 25 Cr in this round, the remaining INR 10 Cr came from other investors, goSTOPS founder Pankaj Parwanda told Inc42.

The Delhi-based startup plans to use the fresh capital to scale up its current capacity from 2,500 to 10,000 beds across 100 locations in the next two years. Apart from this, the proceeds would be deployed to strengthen its operations, enhance technology and elevate the social and experienti...