VC Tim Draper has invested $3.5 Mn in Tribe Theory, an international entrepreneur-focused hostel chain.
The hostel chain was founded by Vikram Bharati in Singapore and came into India with the acquisition of Construkt Startup Hostels founded by Shashikiran Rao and Karan Bahadhur.
With this, the existing hostel will rebrand to Draper Startup House (DSH), which is an expansion of Tim Draper’s global brand that also includes Draper Venture Network, Draper Associates and Draper University.
Tribe Theory has eight existing international locations, including two in Bengaluru that will be rebranded to DSH. The company plans to open its first US location in March 2020 in Austin and will later be expanding to more locations.