FabHotels, India based hospitality startup dealing in budget hotels, has raised $8 Million in Series A round of funding from a bunch of investors including Accel Partners, RB Investments, Aarin Capital and Qualcomm Ventures.
Fabhotels works on the popular model of standardizing the budget hotel to give the look and feel according to the brand. Along with being a hotel aggregator, the startup also delivers a personalized hospitality experience to the guests booking through its platform.
Started in 2014 by Vaibhav Agarwal and Adarsh Manpuria, FabHotels has raised a seed round worth $2.25 million in 2015 from Accel Partners and Qualcomm Ventures.
Speaking on the development, Vaibhav Aggarwal ruled out the fact that FabHotels has a similar business model as Oyo. He added that instead of taking partial inventory and rebranding the hotel, they get involved in the hotel operations as a proper franchisee model and work with exclusive distribution rights to sell the full inventory and manage the whole operations. Also, Vaibhav added that his startup is driven by tech and data based solutions to help guests find the best deal at the best place.