Micro-hospitality startup has raised about $2 million from venture capital firm Sixth Sense Ventures. The pre-series A investment will help SaffronStays expand the number of holiday properties under its platform.
Founded in 2015 by Devendra and Tejas Parulekar, SaffronStays curates and manages hospitality operations, reservations, branding and marketing for private vacation homes owned by high networth individuals. The firm currently operates 45 homes across six states in India and claims to host over 1,500 guests every month.
“We are excited to have Sixth Sense Ventures as our partners in our entrepreneurial journey. We hope to use this money to expand our footprint, work on innovative business models, strengthen our operations and improve our technology backbone,” said Devendra Parulekar, founder of SaffronStays. As part of this investment, Nikhil Vora, CEO of Sixth Sense Ventures will join the board of SaffronStays.