Travel technology startup Guiddoo has secured capital of $800,000 in the Pre-Series A funding. The funding was led by global investors including Rennie Ratadia (Singapore), Stephen Dmello (Dubai) & Angshuman Sarkar (India).
Vineet Budki, Co-Founder & CEO at Guiddoo said, “From starting afresh after a pivot from the Audio Guide Business Model to garnering 700% YOY revenue growth in the Tours & Activities business, and securing fresh funding from our trusted investors, it has been an incredible journey. It is a reflection of our commitment to make significant contribution to the India Outbound Travel space by delivering innovative product enhancements.
The startup will use the funds to scale up operations, increase destination reach, product portfolio and to further develop its technology platform. It will strengthen its portfolio by adding new destinations under its ‘customised packages’ offering and will beef up teams to manage the increase in operations in the Global and Indian market, the company said in a statement.
In terms of the strategy for business growth, the company is also planning to commence its China operations by Feb 2019. Another focus area will be to build a pan India distribution network for the its Tours & Activities & Holidays products, Gioddoo added.
He added, “We are delighted to have secured this significant bridge round of funding. The capital raised will help us expand our footprint, augment our infrastructure and acquire promising talent to implement the blueprint. We are motivated more than ever to build robust products and extend the best services possible to our consumers.”
“We are excited to invest in Guiddoo in their endeavour to bring best-in-class, digital in-destination experiences to travel enthusiasts. We are confident of the team’s potential and are looking forward to the company’s growth story in the near future,” said Stephen DMello who runs successful Investment, Real Estate & Trading businesses in Middle East and Asia.
Having been an avid traveller, I Saw Indian tourists in all parts of the world. Guiddoo presents me with a great opportunity to tap into outbound Indian tourists, I see great potential in this segment with more and more Indians travelling abroad Every Year” Says Rennie Ratadia, Global Investor.
Incepted in 2013, the startup has been actively helping travellers by providing seamless services so that they can make the most of their trips. Guiddoo offers an array of services like Guided Tours and Activities, Dining, Entertainment and Shopping as add-ons to the Indian Outbound travellers and curates special packages for them which are unique to the Indian travellers, and are different from the global products in experience, culinary habits and prices among others.
The Guiddoo app is available on both Android iOS platforms and has a robust web platform for its Travel Agent network. Guiddoo offers its Tours & Activities across 11 international destinations through 4000+ Travel Agents across India and also has institutional partners including Cleartrip & Yatra.