Kaneswaran Avili gearing up for second round of funding for Nida Rooms

MUMBAI: Kaneswaran Avili, SpiceJet's former chief commercial officer and one of the minds behind the inception of AirAsia Berhad, is gearing up for a second round of funding for his startup Nida Rooms, which brands and sells budget hotel rooms.

The company aims to raise up to $4 million, Avili said adding it is in the final stages of discussions for the raising. It plans to dilute up to 20% stake.

Avili founded the company last year in August and raised a seed funding of $1.5 million.

Avili was also part of the startup team of Airaasia and later Tony Fernandes' Tune Hotels.

Last year, there were talks of Avili and SpiceJet's former CEO Sanjay Aggarwal joining Zen Rooms another hotel booking platform, but Avili clarified that never happened.