New Delhi, June 26 -- Villa-rental platform StayVista has raised over Rs 40 crore (around $4.6 million) in its Series B funding round led by JSW Ventures, with participation from existing investors DSG Consumer Partners and Capri Global Family Office.
The platform, operated by Stay Vista Pvt Ltd, said in a statement it plans to use the fresh funds to expand into new geographies, strengthen its team, improve customer experience, and add more properties.
"We are seeing a clear shift in preference of travellers from hotels to alternative sources of accommodation. With technology, standardisation, and a strong customer-first philosophy, StayVista, being the largest player in this space, has a front row seat to capitalise on this trend," said Sachin Tagra, managing partner at JSW Ventures.
JSW Ventures, the early-stage venture capital firm backed by the JSW Group, manages two funds and has invested in more than a dozen companies since inception in 2016. Its most recent investment was in AI startup Hyperbots last month. Its portfolio also includes dermatology platform Cureskin, drone platform Aereo and non-bank lender StrideOne.
Previously, in early 2021, StayVista raised Rs 10 crore in a Series A funding round led by Singapore- and India-based DSG Consumer Partners, with participation from CA Holdings, Artha India Ventures and angel investor Anand Ladsariya, who is also the owner and managing director of crystals and oils manufacturer Everest Flavours Ltd.
In 2022, the company said it raised Rs 40 crore in a Series B round from DSG Consumer, Capri Global and CA Holdings. It couldn't be ascertained whether JSW Ventures' investment is part of an extended Series B round.
StayVista operates more than 1,000 properties across over 85 locations in India. The startup operates as a full-stack brand that provides services to supply-side home and villa owners as well as demand-side travellers. For the former, it takes over property maintenance and guest service, while marketing locations to the latter.
"Over the past few years, we have quietly but consistently built a strong foundation for long-term growth. Along the way, we have achieved several meaningful milestones - turning profitable, scaling to over 1,000 luxury homes, and hosting more than a million guests," said Pranav Maheshwari, co-founder at StayVista.
StayVista reported standalone revenue from operations of Rs 140.30 crore for FY24, up from Rs 113.95 crore the year before, according to VCCEdge. Net loss narrowed to Rs 8.28 crore from a loss of Rs 11.76 crore. Its financials for FY25 couldn't be ascertained.
The company claims it has served over one million customers to date. It operates three categories of properties under its umbrella, catering to the mass-premium, premium, and luxury segments. The company also offers customisable food and beverage services, event curation and planning, and concierge services, among others. It streamlines the entire vacation rental ecosystem with property management, operations oversight, and booking optimization tools.
Published by HT Digital Content Services with permission from VC Circle.