FabHotels Secures $25 Million in a Goldman Sachs-Led Round: Travel Startup Funding This Week
Skift Take
FabHotel's franchise model joins peers OYO and Treebo in a promising effort to tame the famously fractured budget segment in India by applying consistent standards of service and marketing.
Each week we round up travel startups that have recently received or announced funding. The total raised this week was more than $33 million.
>>FabHotels, a budget hotel brand based in Gurgaon, India with more than 225 hotels in two dozen Indian cities, has raised a $25 million Series B investment round led by Goldman Sachs Investment Partners. Accel Partners, a previous investor, also participated.
The fresh funding brings the total raised by the company to $35 million. FabHotels aspires to double the number of rooms it has available to 10,000 within the next year.
The business' asset-light model uses digital marketing to drive guests to hotels that agree to standardize their service with a clean sleep-and-shower experience and amenities like Wi-
