India Dealbook: School of Hospitality India, Open Appliances raise funding

School of Hospitality India has raised Rs 25.2 crore ($3.8 million) from a group of high net-worth individuals (HNIs) while Open Appliances has secured $550k in seed funding from Axilor Ventures and ZOHO co-founder Kumar Vembu.

Indian School of Hospitality raises $3.8m from HNIs

School of Hospitality India Pvt Ltd has raised Rs 25.2 crore ($3.8 million) in its first round of external funding from a group of HNIs in India and overseas.

The company will invest the proceeds in the first phase of its debut campus in Gurgaon, Delhi NCR which is scheduled to open in August 2018.

The Indian School of Hospitality, founded by former Starwood Hotels & Resorts South Asia managing director Dilip Puri, is planning to expand the Gurgaon campus to house 1,000 students within the first couple of years.

“I am delighted to have an investor group comprising some of the best-known names in the hospitality and real estate industry,” said Puri,

“The business has tremendous scalability and expansion opportunities across hospitality management, culinary and executive education as well as skill development and online education,” he added.

Open Appliances secures $550k from Axilor Ventures, Kumar Vembu

Open Appliances Pvt Ltd (Open App), a company which manufactures smart locks for enterprises, has secured $550,000 from Axilor Ventures and Kumar Vembu, co-founder of Chennai-based enterprise-tech firm ZOHO, in its first round of external funding.

According to a statement, Bangalore-based Open App will use the money to strengthen its product offering and for expansion into new verticals.

“We have great validation and partners in Axilor and Vembu who come with decades of experience in building companies of scale. With this round of funding, we plan to solidify product-market fit,” Gotama Gowda, co-founder and chief executive of Open App.

Founded in November 2015, Open App targets industries such as warehousing, retail chains, logistics and cash logistics companies, telecom firms and internet service providers.

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