The investment will be used to strengthen and expand its presence across southern states of the country - Tamil Nadu, Andhra Pradesh, Telangana, Kerala and Karnataka. Headquartered in Chennai, FreshUp services are currently available in Hyderabad and Tirupati.
FreshUp is a start-up to introduce micro stay concept in India which is specifically designed for the single day traveller. It 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 rooms 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 excited 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, ‘This key investment comes 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, “With 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 part of this ground-breaking journey with them and hope to participate in further funding rounds as the company develops and achieves new heights in the industry.”