Backpacker hostel chain The Hosteller raises $1 million in funding

Backpacker hostel chain The Hosteller said on Monday that it has raised $1 million in its pre-Series A round of funding led by FAO Ventures and CA Holding. It also saw participation from marquee investors, including SUNiCON and JITO Angel Network. Founded by Pranav Dangi, The Hosteller seeks to raise $10 million as part of their Series A funding round.