[Funding Alert] Tripoto raises Rs 25 Cr in Series B round
Tripoto has raised funding of Rs 25 crore in its Series B round from Orchid India, Hornbill Orchid India Fund, Chiratae Ventures (formerly IDG Ventures), 3one4 Capital and Lasmer NV.
Anirudh Gupta, Co-Founder & CEO, Tripoto, said that the company aims to scale both the B2C and B2B side of the platform, adding,
"On the consumer front, we want to capture the entire life-cycle of a traveler— everything from getting inspired, discovering, planning and finally, carrying out the transaction. On the business front, we want to act as an enabler for travel agents and bring them online as an essential component of our community."
Anirudh Gupta, Co-founder and CEO, Tripoto
Launched in 2014 by Anirudh Gupta (IIT Delhi and ISB alumnus) and Michael Lyngdoh (ISB Alumnus), the online travel community platform brings together user-generated travel content, community and marketplace on its platform.
Investec India acted as the exclusive financial advisor to this deal. So far, Tripoto has raised a total of Rs 50 crore, it said in a statement. The company claims that in the past 12 months, its revenue and user base have grown by over 300 percent.
Tripoto will be using the fresh capital to scale and focus on vernacular content, short video and influencer commerce, leveraging the strength of its flourishing community.
The startup claims to have created over 2 million travel itineraries with videos and photographs over the past five years, currently clocking over 6 million monthly active users. Video Content and Holiday Marketplace have been its fastest growing verticals in the past 12 months.
The company has also developed a proprietary B2B CRM platform for travel agents, and aims to bring more than 10,000 small travel agents online. This platform allows travel agents to generate travel enquiries from Tripoto and build an online presence.
Manoj Thakur, Managing Partner, Hornbill Capital – Advisor to Orchid India, said, "...the massive number of itineraries posted by users on Tripoto will inspire travellers to explore various destinations in India and abroad."