Bugdet hotel startup Nida raises much-needed new funding after cash crunch in summer

www.techinasia.com

One of a number of companies playing the 'budget hotel aggregator' game popularized by India's OYO Rooms, Nida looks like the biggest struggler in Indonesia, which has attracted the attention of OYO clones in Southeast Asia. The company was unable to pay salaries this summer, but it appears to have raised as much as $10 million to get back on track. However, with few hotels actively supporting it and seeing any customer, there looks like being a lot of work ahead to stay afloat.

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