New-Delhi headquartered online travel marketplace Tripshelf has raised fresh funding of Rs. 1.6 crore from a group of professional investors including GEMS Advisory (a micro VC); Alok Mittal of Indifi; Sachin Bhatia, Co-Founder of MakeMyTrip & Truly Madly; Anita Gupta, Global Equity Strategist; Singapore Angel Network; and Alka Puri, IIM-C Alumnus & Founder of Roads Ahead Consult; amongst other HNIs. This is a continuation of Tripshelf’s Pre Series-A Funding Round received from GEMS Advisory in mid-2016; the total amount raised by the startup now stands at INR 3.2 crore.
Tripshelf will be using the latest funds to deepen pillars of its business operations and establish a long term asset vs. hyper growth capital. Within two years of its inception, Tripshelf has already achieved milestones such as an annual Gross Transaction Value (GTV) of INR 36 crore, and an annual revenue run rate of INR 1.5 crore. Now, with this significant amount of new funding raised, the startup aims to touch a revenue run rate of Rs. 3 crore annually, and a GTV of around Rs. 50 crore.
Dhruv Raj Gupta, Co-Founder, Tripshelf said, “This is the second time we have raised funds in Pre-Series A round; it is a testimony to the immense faith several investors have shown in our start-up. The earlier funds we raised in 2016 were being used to establish unit economics’ profitability, and setup the talent pool. This time, with the fresh capital, we look forward to onboarding more tour operators in our platform, improve overall consumer experience, and also increase the products listed on the site, thereby helping our consumers with a comprehensive search experience.”
Focused on revolutionary technologies like Artificial Intelligence & Machine Learning, this new-age travel marketplace aggregates holiday packages, allowing consumers to compare holidays, and to enquire or book directly from its website. On the other hand, it also helps tour operators in achieving transition from the offline to online world through a suite of SAAS applications, and even provides financing assistance to operators for the same.