Bengaluru-based travel management app Trip 38 has raised about $1 million in funding from InterGlobe Technology Quotient, the parent of Indigo airlines, and Singapore based Lantern Capital.
Trip38 is a mobile-first travel technology solutions provider which provide real-time local content irrespective of how and where the booking is done. It is basically an itinerary planner with real-time flight alerts, airport guides, local hotel & restaurant recommendations, and maps & directions.
“The funds will be invested towards improving our technology, product features and expanding consumer base through effective marketing,” said Niranjan Gupta, co-founder, Trip38.
Trip38 app has been downloaded across 170 countries, with India accounting for about 40-50% of its usage. In the next 12-18 months, the company aims to hit around 3 million downloads. The company have its presence in US with its product development being done at Bangalore, India.
Trip38 was co-founded by 3 serial entrepreneurs in 2013 – Niranjan Gupta, Seshadri Krishnan and Markish R. While Gupta had earlier co-founded Via.com and Magic rooms, which was sold to Yatra.com, Seshadri Krishnan was the former head of travel and retail vertical at Sapient Europe, and Markish R was the former technology chief at MagicRooms.
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”