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IAN invests INR 3 crore in Seed round of Hospitality Startup Brevistay
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New Delhi : Brevistay, a pay-for-hour room booking startup has raised INR 3 crore from Indian Angel Network in its seed round. The round is led by IAN Lead Investors Uday Chatterjee, Hari Balasubramanian, and Sri Prakash.
The announcement comes as the startup commemorates its sixth anniversary on August 3rd, 2022. Co-founded by Prateek Singh, Shubham Agarwal, Nikhil Kumar Pathak, Aditya Naithani and Avnish Kumar, Brevistay allows customers to book hotels in slots of three, six, and 12 hours with the flexibility to pick their own check-in time. Its platform also allows hotels to manage inventory with the flexibility of their rooms in real-time — users can book a room at 1 AM as the hotels registered on the platform can be booked 24X7.
Founded in 2016, Brevistay aims to solve customers' most common problem of overpaying for short stays at hotels. The check-in issue at odd times also gets resolved as the hotels registered on the platform can be booked for three hours and paid accordingly, making Brevistay an answer to a cost-effective way of adding comfort. The services offered are free of biases as everyone can book a room, including millennials, business travellers, unmarried couples, etc.
Prateek Singh, Co-founder & CEO, Brevistay, said, “We are changing the ‘unit’ of hotel bookings. It’s not all about room night; you also have hotel hours. We are breaking the pre-existing and centuries-old pattern of the noon check-in and 11 am check-out system and creating a new way of conducting the business. With this investment, we are looking at expanding so we can take this concept to larger audiences across more cities.”
Speaking on the investment Sri Prakash, lead investor from IAN said "We are backing a good team of founders who have built a business which has tremendous potential in India. We are expecting the company to become a category leader in hourly booking for hotel rooms and similar facilities. Our investor network in IAN will also help the company in all possible ways for helping them realise their full potential.”
Brevistay has been a bootstrapped company for six years without significant funding. The recently infused investment will enable the company to develop more creative ways to create a convenient and beneficial ecosystem for customers and the hotels.
The expansion of Brevistay took a toll when the pandemic struck the world. However, the company bounced back strongly with a 1.5X growth in the nine months after the first lockdown and recorded a 250% spike in the numbers in the next nine months after the second wave of COVID-19. Brevistay is commemorating its successful journey on August 3rd 2022, the day of its sixth anniversary.
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