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Home > Industry News Analysis, Start Up, Venture Capital > Shocking! After Raising $34m in Funding, this CEO Got Arrested Yesterday!

Shocking! After Raising $34m in Funding, this CEO Got Arrested Yesterday!


 

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Travel startup Stayzilla, which announced halt of its operations last month, ran into fresh trouble with its founder and chief executive Yogendra Vasupal taken into custody by commissioner of police in Chennai and locked up in Puzhal prison, a source ET spoke to confirmed.

According to an email sent by cofounder Sanchit Singhi, Sanghi asked investors of the company to help Vasupal who went ‘missing’ or out of contact after Vasupal last confirmed his location.

Started in 2005, Stayzilla recently shut down operations in February to rethink its business strategy.

The company that had raised about $34 million across four rounds of funding, counts Matrix Partners India and Nexus Ventures Partners among investors.

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