As part of its yearly startup fund program, Balmer Lawrie & Co Ltd has announced equity investing in NapTapGo, a startup in the low-cost hospitality space, the company stated.
According to a business statement, the Rs 1 crore investment is intended to “support the startup ecosystem and promote innovation.”
“We firmly believe that investing in innovation and supporting emerging entrepreneurs will contribute significantly to nation-building,” Balmer Lawrie chairman and managing director Adhip Nath Palchaudhuri said.
According to Nitin Malhotra, the founder of NapTapGo, the investment demonstrates the government’s dedication to encouraging innovation in the travel industry.
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Balmer Lawrie has teamed up with IIM Lucknow EIC, a premier incubator, as part of India’s Startup India initiative to offer entrepreneurs “incubation support, mentorship, and industry connections.”
About NapTapGo
Naptapgo redefines micro hotels by enabling franchise-build hotels at a fraction of the cost as compared to traditional hotels, offering a compelling stay experience that resonates with the masses, especially the tech-savvy younger generation and business travellers.
