Balmer Lawrie announces equity funding of Rs 1 crore to NapTapGo

New Delhi: Balmer Lawrie & Company Limited on Thursday announced an equity funding of Rs 1 crore to NapTapGo, a highly innovative Startup in the hospitality segment. NapTapGo is poised to revolutionise the hospitality industry with its unique concept of affordable yet luxurious pod hotels, offering quick, high-quality stay across India. The Startup is innovatively integrating AI and IoT into its facilities to enhance hygiene, quality, and customer experience.

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As part of the Government of India's Startup India program, Balmer Lawrie is committed to supporting the Startup ecosystem and promoting innovation through its annual Startup Fund program. In this journey, Balmer Lawrie has partnered with IIM Lucknow EIC, a top-tier incubator, to provide Startups with incubation support, mentorship and industry connections.

During the Share Subscription and Shareholder Agreement (SSHA) signing at Balmer Lawrie headquarters in Kolkata, Balmer Lawrie’s Chairman & Managing Director and Director (Service Businesses) Adhip Nath Palchaudhuri said, “I am thrilled to announce an investment of Rs. 1 crore, as part of the Balmer Lawrie Startup Fund program, in NapTapGo, a one of its kind pan India Pod hotel chain that has the potential to revolutionise the hotel industry. We firmly believe that investing in innovation and supporting emerging entrepreneurs will contribute significantly to nation building and further the 'Make in India' initiative. The investment decision is driven by the purpose to add value as a strategic partner through industry connections, offering guidance, and leveraging networks to help them thrive in its sector.”

NapTapGo’s Founder Nitin Malhotra said, "Balmer Lawrie's investment in NapTapGo is a testament to the Government’s commitment to fostering innovation in the tourism sector by supporting scalable, global solutions that cater to the needs of the masses and align with the aspirations of New India. This partnership highlights the Government's focus on empowering Indian Startups like NapTapGo to not only originate from India but to also emerge as leading players in the $1,400 billion global hospitality market. We are proud to contribute to this vision and look forward to redefining the short-stay experience for travelers worldwide."

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