A resort management company, V Resorts has raised ₹25 Crore ($4 million) from Mumbai-based Seedfund and Singapore-based RB Investments. The funds will be utilized in expanding the firm’s expansion across the country and to also render oversea services. The company is also targeting to increase their services to over 1000 locations in India in a couple of years so that they can satisfy customers and provide them better accommodation.
Aditi Balbir, CEO of V Resorts commented that “We are looking at doubling our inventory by the end of this year and are geared towards a three -fold growth in the company. Our competitors are aggregators who solve the problem of discovery, the travel space is flooded with such aggregators but no player is currently targeting the problem of on-ground experience.”
The startup currently manages over 70 resorts across 15 states in the country. It also plans international expansion by emphasizing more on Southeast Asian markets because the startup find a lot of scope in Southeast Asian markets and they are in need to develop.