Join hospitality professionals

Enter your email address:

Get all the latest job, news, views, ideas and more FREE!!

Cleartrip-backed hotel solutions provider iManageMyHotel raises funding

Kolkata-headquartered iManageMyHotel Technologies Pvt Ltd, which provides cloud-based property management solutions for mid-sized hotels, has raised an undisclosed amount from Jaarvis Accelerator, a person close to the development told Techcircle.

In 2015, Hong Kong-based technology company Jaarvis Labs Ltd launched an India-specific accelerator to invest up to $50,000 in startups offering products and services in the space of Internet of Things (IoT), online-to-offline e-commerce services, mobility and other emerging technologies. Jaarvis takes an equity position of 7-15% in each startup it invests in. Confirming the development, iManageMyHotel’s founder and CEO Sourav Goswami said, “The money will be used to expand our presence in more cities, including Delhi-NCR, Bangalore, and Mumbai.”

Goswami also said that the startup—which plans to target hotels in Southeast Asian countries like Thailand and Indonesia by August—is in talks to raise its Series A funding, for which it has received soft commitments from some investors. iManageMyHotel had, in November 2015, raised an undisclosed amount from online travel agency Cleartrip. Goswami, however, told Techcircle that Cleartrip had put in Rs 70 lakh in iManagemyhotel so far. “We were always focussed on the revenue-based game, and never believed in the number game,” he added. Cleartrip is still a shareholder in iManageMyHotel.