Indonesian budget hotel Tinggal raises $1m funding from India-based Wudstay’s CEO, Mangrove Capital, others

The founder and CEO of India-based budget hotel network Wudstay Prafulla Mathur, along with the other investors in the company have pumped in $1 million in the Indonesia-based budget hotel network Tinggal, Mathur told DEALSTREETASIA.

The round also saw participation from VC firms Mangrove Capital, Simile Venture Partners and Nimbuzz; and CEO/angel investor Vikas Saxena, all of whom have invested in Wudstay also

“This is an equity-based investment, however I cannot disclose the details of the equity”, Mathur said adding that he was the largest investor in the round.

“While this investment is a good opportunity for us, Wudstay will be focussed on the Indian market, we don’t want to spread ourselves too thin,” he said when asked whether the investment would give Wudstay a way to expand into Indonesia.

Mathur said there were other investment proposals that Wudstay is looking at, however they were at a preliminary stage.

Wudstay and Tinggal both operate on similar lines of the market leader OYO Rooms, wherein they guarantee a certain standard of stay at a various budget hotels including giving various options to its customers like selection of room, quality of room, breakfast, Wi-Fi, and location, under their brand names.

While TInggal is a month old, Wudstay was founded in April 2015.

Tinggal competes with rivals like RedDoorz, Nida Rooms, and Rocket Internet-backed Zen Rooms, Wudstay’s main competitor is Softbank-backed OYO Rooms, that recently acquired smaller rival ZO Rooms.

In the one month that it has operated Tinggal partnered with 52 hotels in Jakarta, Bali, Bandung, and Malang, with about 500 rooms on offer.

WudStay on the hand lists close to 400 hotels across 40 cities in India, according to information available on the company’s website.

Also Read:

India: Oyo Rooms acquires struggling rival Zo Rooms in all-stock deal

India: Budget hotel aggregator OYO Rooms to foray into food tech, on-demand housekeeping services

Homestay aggregator MyIndianStay raises $200k in angel funding

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.