StayVista Raises Over Rs 40 Crore in Series B Funding Round
StayVista, a website for renting luxury villas, announced that it has successfully closed its Series B investment round, raising more than Rs 40 crore.
This'significant' investment, according to the firm, will enable StayVista to'strengthen' its service offerings, 'elevate' the experiences of both hosts and guests, and strategically enter new areas.
“Over the past few years, we’ve quietly but consistently built a strong foundation for long-term growth. Along the way, we’ve 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.
Travelers are clearly choosing other lodging options over hotels, according to Sachin Tagra, managing partner at JSW Ventures.
"Each of these achievements is a reflection of the trust our homeowners and guests place in us", he added.
"As we look ahead, we’re excited to build on this momentum and shape StayVista into not just India’s largest villa hospitality brand, but also the largest platform for alternative accommodations in India," he added.
"With technology, standardization, and a strong customer-first philosophy, StayVista, being the largest player in this space, has a front row seat to capitalize on this trend," he said. "The founders have built a highly capital efficient business and we are excited to partner with StayVista as they continue to scale with multiple offerings," he added.
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"We are 'excited' to support StayVista for the third time," said Hariharan Premkumar, D & Head of India at DSG Consumer Partners.
"We first invested in 2019 — and soon after, the pandemic upended everything we had underwritten. Through one of the toughest periods in hospitality, Ankita, Amit, and Pranav demonstrated remarkable grit, adaptability, and execution discipline," he said.
"They’ve navigated multiple inflection points with clarity and composure — emerging stronger each time. StayVista is now the market leader in luxury homestays, built with capital efficiency and long-term focus," he added.
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The domestic travel industry in India has been expanding due to the flexible work arrangements and increased discretionary incomes. At a compound annual growth rate (CAGR) of nine percent, the nation's vacation rental market, currently valued at $22.3 billion, is expected to reach $34.1 billion by 2029. With a CAGR of 13.5 percent, the vacation house rental market, which is currently worth $2.1 billion, is one of the fastest-growing.