Indonesia: NIDA Rooms gets $5.6m in Shanda Group-led series A

Indonesia: NIDA Rooms gets $5.6m in Shanda Group-led series A

Photo by NIDA Rooms

Budget hotels platform NIDA Rooms announced today that it has secured $5.6 million in a series A funding round led by private investment firm Shanda Group. Other Southeast Asian investors also participated in the round, the company said.

The latest financing round brings NIDA Room’s total investment to $11 million. With this, the company claims to be the best-capitalised business in its segment in the region.

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