Online travel marketplace Tripshelf on Wednesday announced raising funding worth 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 amongst others.
In order to deepen the pillars of its business operations, Tripshelf will be using the latest funds to establish a long term asset vs. hyper growth capital.
Tripshelf has already achieved milestones such as an annual Gross Transaction Value (GTV) of Rs. 36 crore, and an annual revenue run rate of Rs. 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.
"This time, with the fresh capital, we look forward to on-boarding 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," said co-founder, Tripshelf, Dhruv Raj Gupta.
"By working with us, our tour operators have recently seen an increase in conversion rates, adopted technologies that enable better team management, and created a strong online brand. We put our foot where our mouth is and help SMBs with capital loans too," said co-founder, Tripshelf, Sukhmani Singh.
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.
"I have known sukhmani and dhruv for a bit now and like the tenacity with which they approach any problem and create an opportunity out of it. This is a highly fragmented market and needs a mix of tech and good old operational skills to solve. This team has it in them to deliver on both," said Sachin Bhatia cofounder, MakeMyTrip & TrulyMadly.
Currently, the website of Tripshelf promotes 750+ tour operators and 3000+ holiday packages, and can be deemed larger than its nearest competitors. Their ultimate goal is to create a sustainable ecosystem for tour operators to rely on, grow, learn, and manage their businesses online, while at the same time, ensure consumers have plenty of choice and information to get best holiday packages customized to their requirements.
Disclaimer: No Business Standard Journalist was involved in creation of this content
