India, April 16 -- Hostel chain The Hosteller has raised Rs.150 Cr (around $16 Mn) in its Series B funding round co-led by PROMAFT Partners and V3 Ventures, with participation from ITI Growth Opportunities Fund, Merisis Wealth Trust, and undisclosed family offices.

The Mumbai-based hostel chain plans to deploy the capital to expand across key travel destinations, strengthen operational capabilities, and brand building. 

The Hosteller is targeting setting up 25,000 beds across the country within the next 36 months. Additionally, it is also preparing to launch a travel super app comprising accommodation, F&B, mobility, and curated experiences into a single platform.

"This round is about sustained acceleration to 25,000 beds, a full ...