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Former Skype investor, Mangrove Capital, Nimbuzz CEO, invest $3 mn in Wudstay

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marketplace for budget accommodations Wudstay has raised $3 million in funding
from former Skype investor, Mangrove Capital Partners and Nimbuzz CEO Vikas
Saxena. 

Online
marketplace for budget accommodations Wudstay has raised $3 million in funding
from former Skype investor, Mangrove Capital Partners and Nimbuzz CEO Vikas
Saxena. 

Available in Gurgaon and Jaipur, Wudstay plans to expand to 65 cities in the
next 18 months, reports Business Standard. The funds will be deployed in
ramping up the technology platform and team building. An app version of Wudstay
will be launched in August. 

Travellers can use Wudstay to book budget accommodations online and through
mobile, along with complimentary breakfast and wi-fi. It relies on its
technology backbone for standardising its guest houses so the user experience
is uniform across all of its accommodations in any cities.

“I think time is ripe to repeat the same in budget stays. With 2015,
travel market size in India hitting a mark of $70 billion, there is a
huge potential for travel technology platform that Wudstay has built,”
Nimbuzz’s Vikas Saxena was quoted in the report as saying. 

“Booking rooms in India through existing channels does not give one the
confidence of getting value for money. Also, safety and security is a concern
too. We intend to solve that through the technology we have built to
standardise these accommodations,” Wudstay founder and CEO Prafulla Mathur
told Business Standard.

Mathur had earlier founded a mobile technology company Queppelin, which
included clients like Facebook, Snapdeal, Times of India, Gaana.Com, Reliance
Bigflix and others. 

“We had a great outcome in our earlier investment in India through Nimbuzz
and wanted to keep that going. Wudstay was obvious from the start: huge
unstructured market, great founder and an opportunity to define the standard in
budget hotel segment,” Mangrove Capital Partners founder and CEO Mark Tluszcz
was quoted in the report as saying. 

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