India, June 24 -- Hospitality platform SaffronStays has raised $3.5 Mn (around Rs.29 Cr) in a mix of primary transactions and a secondary stake sale.

Infinity Ventures led the fresh capital infusion alongside prominent family offices while existing investor Sixth Sense Ventures partially sold its stake in the startup. Sixth Sense backed the startup in its $2 Mn seed funding round.

The Mumbai-based startup plans to use the capital to fuel its expansion into existing and emerging leisure destinations, scale up its technology stack, and expand its portfolio of managed holiday homes and villas across India.

"SaffronStays has always focused on building a sustainable and profitable hospitality platform rather than chasing growth at any cost ...