SaffronStays raises $3.5 Mn led by Infinity Ventures

Managed holiday-home platform SaffronStays has raised $3.5 million in a funding round led by Infinity Ventures, with participation from family offices. The round included fresh primary capital and a partial secondary sale by existing investor Sixth Sense Ventures. Founded in 2015 by Tejas Parulekar and Devendra Parulekar, SaffronStays operates a network of managed villas, heritage homes, and vacation properties across India. The Mumbai-based startup will use the funds to expand across existing and new leisure destinations, invest in technology and product development, enhance guest experiences, and grow its portfolio of managed homes. SaffronStays currently manages over 450 properties across more than 80 destinations, including Maharashtra, Goa, Himachal Pradesh, Uttarakhand, Karnataka, Kerala, Rajasthan, and Delhi NCR. According to the company, inventory in its focus markets grew 70% in North India, 90% in South India, and 200% in Goa over the last two financial years. The startup claims that it has remained profitable for four consecutive years. More than half of its revenue now comes from premium homes, while direct bookings contribute nearly 70% of overall business. SaffronStays plans to strengthen its presence in the premium and experiential hospitality segment, focusing on curated stays, destination-led experiences, family vacations, celebrations, and corporate offsites. The company also partners with homeowners to manage and monetise second homes through its hospitality management platform.