HospitalityBiz India
Hotels FoodService Operations Ministry Associations Equipment Editorial HR Technology Technology Advisory Board Community
Follow us on Facebook Follow us on Twitter instagram
    Home > F&B Overview > News
NEWS

FreshUp raises USD 1.5 million through Seed Funding from Lotus Global Investments Ltd.

Plans to introduce micro-stay concept in 20 more locations across South India

Tuesday, November 21, 2017, 16:00 Hrs  [IST]
HBI Staff | Mumbai

India's first micro-stay hospitality chain, FreshUp recently announced that it has raised USD 1.5 million through seed funding from Lotus Global Investments Ltd., a Singapore-based firm. The investment will be used to strengthen and expand its presence across southern states of the country - Andhra Pradesh, Telangana, Tamil Nadu, Kerala and Karnataka. Headquartered in Chennai, FreshUp services are currently available in Hyderabad and Tirupathi.

Revolutionising the lodging experience, FreshUp allows customers to experience a luxurious stay on an hourly basis combined with facilities like 24-hours internet connectivity, luggage drop and pick up, meeting room and many more at affordable pricing. FreshUp centres will be present in pilgrimage cities and nearby airports, providing travellers a space to freshen up while they are on the move.

Vinil Reddy, CEO – FreshUp said, “FreshUp is thoroughly happy to be associated with Lotus Global Investments Ltd. through this funding process. We believe that this progress will impact our business in a positive way and will help us to expand throughout the south in a rapid and phased manner. We are assertive that we will be able to launch at least 20 outlets by the end of next calendar year.”

Mohan Ramalingam, Co-Founder-FreshUp said, "We are very happy to announce this key investment as we make plans for rapid expansion across India. FreshUp’s unique offering is sure to re-imagine and revolutionise the hospitality space and we are very grateful for this opportunity to share our concept with a wider audience."

Lotus Global Investments Ltd said, “We are delighted to announce our investment into Freshup. We believe the two founders, Vinil Reddy and Mohan Ramalingam, have developed a unique concept that will revolutionise the hospitality market, across India, but also into the Asia Pacific region. We are happy to be a part of this groundbreaking journey with them and hope to participate in further funding rounds as the company develops and achieves new heights in the industry.”

 
Print News Email News Back
Bookmark to Add to NewsvineNewsvine Bookmark with del.icio.usdel.icio.us Digg ItDigg
Add RSS to Add to Google Add to My Yahoo! Subscribe with Bloglines Subscribe
 POST A COMMENT
* Name :    
* Email :    
* Message :  
   
 
CoverStory
Analysis
 
  H&R Johnson opens sixth Experience Store in India to service Customers, Architects & Designers as a one-stop-shop
  Philips Lighting adds one more LightLounge with Hue Premium Zone concept in Bengaluru
 
weekly
Receive the best of Hospitality content in your mailbox.
Weekly e-Newsletter
Events Calendar
HOSI
July 2, 2018, New Delhi
KTM
September 27-30, 2018, Kochi, Kerala
Events
 
HBz
 
people
interview
newappoint
expert
© Copyright 2016 Saffron Synergies Pvt Ltd
HOME   |   ABOUT US   |   CONTACT US   |   FEEDBACK   |   DISCLAIMER   |   SITE MAP   |   ARCHIVES