Investment firm Matrix Partners India has acquired a significant minority stake in India-based Stayzilla.com, an online hotel booking platform. Matrix Partners India is the only investor in the company’s first institutional round of equity funding. Stayzilla.com, which was previously known as Insara.com, raised US$500,000 from Indian Angel Network in March 2012. It intends to use the new funding to increase its network to over 15,000 hotels and enhance its customer service operations. Financial details of the transaction were not disclosed.