Guiddoo, a Travel Technology Startup for in-destination experiences has secured an undisclosed amount of funding from SOSV - a  leading global venture capital firm based in New Jersey and Artesian China fund to build its products and offerings for the China market. Guiddoo currently offers its services across 15  international destinations and works with over 4000+ Travel Agents in India and also has institutional partners including Cleartrip & Yatra for their activities. 





The fresh funding comes within three months after the startup had raised $8,00,000 in December. In 2017, Guiddoo raised $300,000 (Rs 1.9 crore) and a second round of funding in December 2018 of $ 800,000 (Rs 6 crore) ) in a pre-Series A round from global investors.





According
to a recent report by McKinsey, China has pipped US to become the
largest outbound market in the world and will continue to consolidate
its leadership position with 160Mn outbound travelers by 2020. The funds
will be utilized to expand Guiddoo’s footprint in China and to
strengthen its on ground operations and product development. Guiddoo
also plans to add new destinations in Middle East and Africa into its
portfolio to a take a distinguishing space in the Chinese Market. As an
aggregator, the firm will also focus on adding independent Chinese
travel Service Providers into the loop.





Vineet Budki, Co-Founder & CEO at Guiddoo
said, “With rapid digitization and subsequent rise of an experiential
economy, there has been a fundamental shift in the consumer behavior
with them seeking novel experiences - such as travelling solo and to
unknown destinations, as part of their travel. This has fueled the
growth of in-destination segment and we see a huge potential in the same
going forward.





“China
is a potential market for us, and this investment will give us the
wings to fly higher. We are  delighted to have secured  funding  as well
as a strong partner in China this time around that will help us expand
our reach, acquire the right talent and augment our portfolio in the
China market. We are motivated more than ever to build a robust product
and extend the best services possible to our consumers,” he added.





“We
are excited to partner with Guiddoo in their endeavor to bring world
class search experiences to travel enthusiasts, having a digital
presence here in China.  With requisite infrastructure and support, the
travel sector is well-poised for growth and with Guiddoo’s expertise in
the ‘In-destination’ segment, we are confident of successfully reaping
the opportunity. We have full faith in the capabilities of the team and
look forward to achieving new milestones with them,” said William Bao Bean, General Partner at SOSV.





Oscar (MD, Chinaccelerator) said,
“Guiddoo  brings the best-in-class, digital, in-destination experiences
for  the independent Chinese travelers, which we believe is a growth
segment as Group Tours are so Old School. Having deen the strong growth
in the Travel Segment especially seeing the growth of CTrip, Qunar and
Mafengo, we see a huge growth potential in the Outbound Chinese Travel
Market and we believe that Guiddoo has the right product, team and
expertise to build a strong base here.”





Incepted
in 2013, the startup has been actively helping travelers to provide
seamless services so that they can enhance and enjoy their international
leisure trips. Guiddoo offers an array of In-Destination services like
Tours and Activities, Dining, Entertainment and Shopping as add-ons to
the Indian and Chinese Outbound travelers and curates special packages
for them based on their preferences and profile - which are differ from
global products in experience type, culinary habits, and prices among
others.





With over 4000+ Travel agents, 5000+ excursions, 30000+ Customers Handled and 15 destinations, Guiddoo offers an array of services like Tours and Activities, Dining, Entertainment and Shopping as add-ons to the Indian Outbound travelers and curates special packages for them. It was established in June 2013 by Vineet, Nidhi, Prashant and Biswajeet in the form of an App only Audio Guiding Product from In5 Dubai, and later pivoted to the current tours and activities model in 2017.





To recall, in last month NASDAQ-listed Ebix, through one of its subsidiaries, has acquired controlling stake in Zillious , a New Delhi-based Travel tech startup, for an undisclosed amount.





About SOSV & Chinaccelerator





Chinaccelerator,
the first startup accelerator to launch in China, is a
mentorship-driven program helping internet startups from around the
world cross borders - from the world into China and from China to the
world. It is operated by the venture fund SOSV with $500M+ AUM operating
six global accelerators. Chinaccelerator offers three months of
rigorous guidance, training and resources from mentors, partners and
investors. The robust and supportive alumni network continues beyond the
Chinaccelerator program.


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