HotelYaari, a fractional ownership platform for holiday homes and hotel suites, raises $2.17 million (Rs 18 crore) in seed funding from Alios Ventures. The complete investment will be disbursed in three equal tranches in the next three quarters.
The startup was founded in May 2023 by Janardan Tiwari, the former Founder and CEO of DataTrained. The platform is designed to give the aspirational middle class a chance to invest in their own holiday homes and hotel suites.
This allows them access at a fraction of the cost, making it an attractive option for those who don't have the resources or ability to purchase an entire holiday home or hotel suite.
“This is a major milestone for the company as it continues to expand its reach and establish itself as a leading player in the hospitality industry. The investment will be used to further develop the platform and hire more personnel to cater to the demand for fractional ownership of holiday homes and hotel suites.” said Janardan Tiwari, Founder and CEO of HotelYaari.
Commenting on the fundraise, John Park, Advisory Head, Alios Ventures" At Alios Ventures, we have full faith in the vision of Janardan and his team to shape the future of holiday accommodations through Fractional Ownership. We believe that HotelYaari will be a catalyst for positive change, providing unprecedented access to holiday homes and hotel suites all over the world. This will have a significant impact on people from all walks of life, allowing them to own a piece of their dream destination for an affordable price."