MyIndianStay the Goa-based homestay accommodation and listing platform have raised funding of $200,000 through angel investment from various institutional investors. Started in 2012, MyIndianStay is going to invest the fund in building the product and adding better quality properties on-board.
They are also looking forward to Series A funding round soon to add pace to their project. MyIndianStay currently have over 30,000 rooms and 5000+ offbeat property listing and have been growing at a rapid pace of over 20%.
MyIndianStay Funding : The Gist
MyIndianStay have around 30% of the listing as verified and they are looking forward to make this up to 100% by 2016. The services offered includes Villas, home-stays, guest-house and apartments. One of the prominent features offered at MyIndianStay is Smart Lock Integration which allows user to unlock property listing directly via smartphones. They are also working on direct interaction / chat platform between buyer and listing holder.
While this news brings a decent enough investment to the startup. It will be an interesting watch to see how they are able to compete with the key players of Real estate services including OyoRooms, HolidayIQ, yatra.com etc after MyIndianStay funding news.
Here is what Umesh Agarwal from MyIndianStay said about this entire news :
The vacation rental space is evolving in India and is in its initial phase. We think that we are perfectly positioned to be part of this ecosystem and be the largest player in this huge unorganised sector in Indian Market. For this, we have worked in close proximity with our property owners to understand their various problems and build solutions accordingly.
