Bangalore-based Stay Simple Resorts has announced that it has raised angel funding of Rs 5 crore from the family office of Sudhir and Shalini Sethi (Mr. Sethi is the Chairman of IDG Ventures India) and Praveen Someshwar ,Sales Head, PepsiCo, AsiaPac.
Stay Simple is aiming to expand to newer geographies and enhance capacity to more than 2000 rooms in the next six months with this funding.
Gopalkrishna Kulkarni, the Founder and MD, said,
“This has given us an impetus to grow and maximise our potential. The aim is to be present in at least 400 destinations in the next 3 years. We have already served over 1,00,000 customers, many of them being loyal customers. Closing a significant round of funding is acknowledgement of our proposition and underscores the huge potential of the mid-budget segment of the market. We are really excited and now better-equipped to realize our ambition of becoming the largest and most-preferred brand in the leisure space.”
Stay Simple resorts was founded by four people in 2008 led by Gopalkrishna Kulkarni. Gopal is a serial entrepreneur who promoted the private equity backed Perfint Healthcare Pvt. Ltd., after a long stint at GE Healthcare, a statement said.
Stay Simple currently owns, manages and operates about 500 rooms in16 resorts in 12 popular tourist destinations across India including Coorg, Goa, Hassan, Sakleshpur, Wayanad, Mysore, Mussoorie, Jaipur, Pushkar and Jaisalmer.