This travel tech start-up secures USD 3.9 million investment led by Easy Trip Planners Ltd
The strategic investment will play a pivotal role in fueling the company's ambitious expansion plans while the company has experienced exceptional revenue growth, exceeding 100% from FY 2021-22 to 2022-23.
Etrav Tech Ltd is a key player that provides travel services to businesses, the company has secured a USD 3.9 million investment from EaseMyTrip (Easy Trip Planners Ltd). This investment of 4.94 per cent stake, is part of the company's second funding round, it has maintained a valuation of USD 76.13 million. Before that Etrav Tech Ltd raised USD 6.35 million in its first funding round in October 2023, with an initial valuation of USD 69.78 million, which then increased to USD 76.13 million.
Under the leadership of Managing Director Mr. Heniel Rupaarelia, Etrav Tech has made a remembering growth which exceeded its revenue 100 per cent from the 2021-22 fiscal year to the 2022-23 fiscal year. The company, incorporated in 2020 during the COVID-19 pandemic by Mr. Rupaarelia, serves over 40,000 travel agents, 600 distributors, and 700 API/white label clients. Recently, it had expansion internationally by acquiring UAE-based Eagle Crest DMC along with its subsidiaries in Thailand, Bali, and Vietnam.
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The new funds raised will be used to improve Etrav Tech's technology, expansion of its products, and strengthen its presence in Thailand, Bali, and Vietnam. EaseMyTrip CEO Nishant Pitti said the investment will help broaden nonhair travel services and improve offerings for corporate clients.
This partnership is a major step for Etrav Tech to transform the travel tech industry and redefine global travel experiences.
Management Commentary
On the Funding, EaseMyTrip’s CEO and cofounder Nishant Pitti said in a statement, “We are aiming at diversifying our portfolio in the non-air segments. After investing in hotels, we now intend to enhance our services for our corporate clientele, and investment with ETrav Tech Limited will be pivotal in the same. Leveraging their tech capabilities and expertise in dealing with B2B clients, we are confident to service our clients better with improved offerings. Strategic decisions like this mark a milestone in our journey and fortify our commitment to providing seamless travel experiences for our customers, backed by innovation and technology.”
Disclaimer: The article is for informational purposes only and not investment advice.