Total amount raised
$7.9 Millions
Latest funding date
4/1/2022
Location
TravClan has successfully raised funding through multiple rounds, attracting a diverse group of investors. The platform is designed to help travel agents and entrepreneurs grow their businesses by enhancing their online presence.
Keep reading to explore the intricacies of TravClan's fundraising journey and the investors backing this innovative platform.
What Is TravClan?
TravClan, founded on October 1, 2018, is based in New Delhi, Delhi, India. The company was established by Arun Bagaria, Ashish Thapliyal, and Chirag Agrawal.
TravClan empowers travel agents and entrepreneurs to grow their businesses by enhancing their online presence. The platform offers tools to book flights, hotels, and holidays at competitive B2B prices.
With a team of 251-500 employees, TravClan aims to onboard over 10 million SMBs and enable a GMV of over $10 billion by 2025.
How Much Funding Has TravClan Raised?
- Seed Round
- Amount Raised: $1M
- Date: August 2019
- Lead Investors: Leo Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial product development and market entry.
- Seed Round
- Amount Raised: $2.2M
- Date: September 2021
- Lead Investors: Leo Capital, TheVentures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technology infrastructure.
- Seed Round
- Amount Raised: ₹360M (approximately $4.7M)
- Date: April 2022
- Lead Investors: Hashed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new markets and further develop the product.
Total Amount Raised: $7.9M
Current Valuation: Not publicly disclosed
Key Investors
- Hashed
- Details: Hashed is a global, early-stage venture fund focused on backing founders who are pioneering the future of technology. They have a strong presence in the blockchain and cryptocurrency sectors.
- Investment Focus Areas: Blockchain, cryptocurrency, emerging technologies
- Notable Investments: Terra, Axie Infinity, The Sandbox
- Leo Capital
- Details: Leo Capital is a venture capital firm that invests in early-stage technology companies. They aim to support innovative startups in their growth journeys.
- Investment Focus Areas: Consumer internet, SaaS, fintech, health tech
- Notable Investments: Sugar Cosmetics, Shuttl, Testbook
- TheVentures
- Details: TheVentures is a venture capital firm that invests in early-stage startups. They focus on technology-driven companies across various sectors.
- Investment Focus Areas: Technology, consumer internet, high-growth sectors
- Notable Investments: Toss, Baemin, Riiid
- Nick Talwar
- Details: Nick Talwar is the CEO at CircleUp, a company that provides capital and resources to innovative consumer brands. He has a background in fintech and consumer products.
- Investment Focus Areas: Fintech, consumer products, technology
- Notable Investments: Information not provided
- Aayush Phumbra
- Details: Aayush Phumbra is the ex co-founder of Chegg, an education technology company. He has extensive experience in the edtech and technology sectors.
- Investment Focus Areas: Edtech, technology, consumer internet
- Notable Investments: Information not provided
What's Next for TravClan?
TravClan is poised to capitalize on the growing demand for digitization among travel agents. With plans to expand into the United States and Southeast Asia, the company aims to significantly increase its market presence. The potential to grow its bookings by 10X and achieve a $500 million GMV run rate by the end of FY23 highlights the vast opportunities ahead.
Future fundraising seems inevitable as TravClan continues to scale its operations and enhance its technology offerings. However, the company will need to navigate challenges such as ensuring the successful adoption of digital tools by traditional travel agents and competing with established players in new markets. The focus on blockchain technology for building a payments network could also present both opportunities and hurdles in maintaining trust within the travel ecosystem.
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