The funds will be used towards enhancing Trip38’s product features and expanding its user consumer base through effective marketing.
Bangalore-based start-up Trip38, raised Rs. 6 crores from InterGlobe Technology Quotient, a strategic business unit of InterGlobe Enterprises, leaders in aviation, hospitality and travel related services and Singapore based venture capital firm Lantern Capital.
“Trip38 is a smart travel management app providing itinerary management, day of travel info and context sensitive, local guide enabling seamless travel for consumers. The firm with its global product aims to disrupt the way travellers find and consume the information when they travel after their booking is completed,” said the press statement.
As part of the deal, Anil Parashar, President and CEO, InterGlobe Technology Quotient, will join the board of the company.
The funds will be used towards enhancing Trip38’s product features and expanding its user consumer base through effective marketing. At present, Trip38 app has been downloaded across 170 countries, with a little over 25,000 users as of now. India accounts to 40-50 per cent of the app usage.
“We take lot of pride in being able to predict and recommend the user what to do next when they travel. While we have just scratched the surface on this, we truly believe the holy grail is in really letting the App help the traveller at all times by being one step ahead rather than the traveller keep looking for information. This investment will help us in further bettering Trip 38’s product features and making it more agile and user friendly”, said Niranjan Gupta, founder and CEO, Trip38
Commenting on the funding, Anil Parashar, President and CEO, InterGlobe Technology Quotient, said, “Being a leader in aviation, hospitality and travel related services, we saw a huge market potential with Trip38’s global product; hence investing in Trip38 was natural business symbiosis to us.”
“We are constantly working towards improving the product features and we foresee the App to be more intuitive, innovative and agile. Trip38 has been working on some really cool new features like Digital boarding passes, Smart Location aware services using iBeacon, etc. We plan to launch these product features shortly and we are confident that with the infusion of funds we will be able to achieve this, thus disrupting the travel experience and increasing productivity among the users,” concluded Sesh Krishnan, founder, Trip 38.
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