Locale, an Austin, TX-based aparthotel brand, secured $2.5m in seed funding.
The round was led by Amplo and Susa Ventures.
The company intends to use the funds to enhance its product through accommodation and technology upgrades, grow brand awareness and expand into new markets.
Led by Founder Nitesh Gandhi, a seasoned hotelier, Locale is a hospitality-driven, boutique aparthotel brand that creates and manages designed, furnished apartments for leisure, business, and extended stay travelers. The company partners with owners and developers of urban apartment buildings in high level neighborhoods to offer guests the amenities of an upscale boutique hotel with the freedom and comfort of residential living.
Launched in Austin in late 2016, Locale has since expanded to Houston and Nashville, now leasing and managing more than 150 furnished apartments for short and extended stays. It has planned expansions with developers of upscale Class A multifamily properties in San Francisco, Houston’s Texas Medical Center, Santa Monica, and Denver, which will be available for bookings in Fall 2019.
FinSMEs
16/04/2019