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Global Rooms raises $4.2 mn from two investors

Press Trust of India  |  New Delhi 

Global Rooms Ltd, co-founded by former SpiceJet official Kaneswaran Avili, today said it has raised USD 4.2 million (around Rs 28 crore).

The hotel aggregator owns NIDA Rooms hotel reservation system.

In a release, Global Rooms said an equity investment of USD 4.2 million has been secured from two venture capital firms -- Convergence Ventures and CyberAgent Ventures.

The funds would be utilised for expanding its business in Indonesia as well as to increase market share in Southeast Asia region, NIDA Rooms' CEO and Co-Founder Kaneswaran Avili said.

Avili stepped down as Chief Commercial Officer from low cost carrier SpiceJet last year.

In Indonesia, NIDA Rooms has partnered with over 1,000 hotels located in various cities and aims to have 2,000 hotel partners by year-end. End of 2016.

Apart from Indonesia, the entity has hotel partners in Malaysia, Thailand and Philippines.

According to the release, NIDA Rooms has plans to expand into Vietnam and South America.

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First Published: Wed, April 27 2016. 22:07 IST