India Deal Monitor: FabHotels raises $5.6m and more updates

Casa2 Stays Pvt. Ltd, which operates budget hotel chain FabHotels, is raising about $5.6 million (Rs 39 crore) in its Series B2 funding round from Goldman Sachs, Accel, and Singapore’s RB Investments at a valuation of Rs 856.4 crore, Entrackr reported.

The company has issued 1,28,034 Series B2 CCPS collectively to the aforesaid investors. Both Accel and Goldman will invest around Rs 14.2 crore each into the budget hotel operator, while RB Investments will inject Rs 10.66 crore.

FabHotels had last raised about $7.7 million in Series B1 funding round, led by existing investor Goldman Sachs in June last year.

Established in 2014 by Wharton School alumnus Vaibhav Aggarwal, FabHotels primarily works on a franchise model that’s aimed at providing standardised services. The hospitality chain currently runs over 600 hotels across 50 cities in India.

INDIA DEAL MONITOR

Here are some of the venture capital transactions in India from January 3-January 6.

Continue reading this story with a subscription to DealStreetAsia.

Subscribe

Contact us for corporate subscriptions at subs@dealstreetasia.com.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.