Backpacker Panda, a Pune, India-based backpacking hospitality platform, raised $1.4m in Series A funding.
The round was led by 37.37 North Capital. As part of the transaction, Manpreet Mattu, CIO of 37.37 North Capital, will join the board of directors. General Partner Bhavish Sood will join as a board observer.
The chain will use new funds to enhance customer experience, build its brand, strengthen its tech team, and expand its footprint in domestic and international markets.
Led by Kumar Vivek, Founder and CEO, Backpacker Panda operates a luxury backpacking hostel chain providing 14 properties across India. With its newly launched flagship Colaba property, BPP is pioneering luxurious properties with common area facilities that allow backpackers traveling across India to meet and socialize.