Travel Tech Startup Guiddoo Raises Funding from SOSV, Artesian

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.

Travel Technology Startup ‘Guiddoo’ Raises $800K from Global Investors

Mumbai-headquartered Guiddoo, a one-stop shop for in-destination experiences, has secured capital of $800,000 (₹6 crore approx.) in the Pre-Series A funding, held in July this year. The funding was led by global investors including Rennie Ratadia (Singapore), Stephen Dmello (Dubai) & Angshuman Sarkar (India).

Guiddoo aims to leverage the fresh funding to expand 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.

In terms of the strategy for business growth, the company aims to commence China operations by Feb 2019. Another focus area will be to build a pan India distribution network for the its Tours & Activities & Holidays products.

With this fresh funding, Guiddoo has raised a total of $1.1 million in funding over three rounds. Prior to this funding, the startup had raised $300,000 in Pre-Series A funding from investors including Pawan Borle & Nirmal Singh as well as new Investors including Manish Prasad, Vineet Varma, Nick Haulkoury, and Abhai S. Rao.

In 2015, the startup had raised seed funding from angel investors.

Founded in 2014 by Nidhi Varma, Vineet Budki, Prashant Choudhary and Biswajeet Karmakar, Guiddoo was started as a tour guiding app but it was in 2015 when it was pivoted into an In-Destination platform offering Tours & Activities, Dining, Shopping and Entertainment options for the Indian International Traveler.

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."

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.

Guiddoo 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.

In August last year, the startup had launched its first Entrepreneur-In-Residence (EIR) Program in India, which is specifically designed for to-be-entrepreneurs in Travel Industry - who will be mentored and nurtured by the Guiddoo leadership team

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.

Source - Newsvoir

Guiddoo Launches EIR Program in India, Specifically Designed for To-be-Entrepreneurs in Travel Industry

Guiddoo, an in-destination travel platform is launching its first Entrepreneur-In-Residence (EIR) Program in India. The program is specifically designed for to-be-entrepreneurs in Travel Industry - who will be mentored and nurtured by the Guiddoo leadership team.The program aims at providing specific domain knowledge across technology, operations and marketing and necessary infrastructural resources to emerging entrepreneurs.

As a part of the process, the Guiddoo Team will initially evaluate 8 EIR’s for 4 Travel Startup ideas focused on the areas of customer loyalty, corporate, group travel and other valuable segments in travel.. The selection will be dependent on the team potential, idea and its synergy with Guiddoo. The selected companies will then be provided with resources from Guiddoo across - technology, marketing, infrastructure, business, and sales reach. Once the Entrepreneur gets the MVP and initial customers and traction, Guiddoo will also work with them closely to organize seed investments, if needed.

Talking about the EIR Program, Vineet Budki, Founder & CEO of Guiddoo said, “Our Entrepreneur In Residence Program is designed for budding entrepreneurs who have a kickass idea but need guidance to flesh it out. Designed to be only six months to a year in duration, entrepreneurs-in-residence will be an opportunity to learn and grow as well as network with some of the best minds in business today.” He further added, “We feel that early stage startups should focus every minute of their time to the development of the product and building a valid business model and the EIR Program intends to achieve that.”

The startups participating in the program will be given access to Guiddoo’s strong global partner and supplier network. The goal is to help small businesses and bring a unique opportunity to work with business leaders and build their own businesses.

“We are very thrilled to launch our first Entrepreneur-In-Residence Program here in India,” said Prashant Choudhary - Co-Founder & CTO. “We aim to provide an enabling platform to budding entrepreneurs and help them turn ideas into reality.  There are a large talent pool and creative professionals who need just the right plan and resources to put their creative talent into action. This program is our way of contributing to the startup ecosystem by getting liked minded individuals together and providing the travel industry with new technological advancements.”

Guiddoo is an in-destination platform, offering tours & activities, dining, shopping and entertainment options for the Indian international traveler. Available on both Android and iOS, the company has distribution through OTA’s like Cleartrip and Yatra and has over 4000+ outbound travel agents across India who use the Guiddoo Platform.

Mumbai Based Travel Tech Startup Guiddoo Raises $300K in Pre-Series A Funding

Guiddoo, India’s growing In-destination brand has raised funding of $300,000 in Pre-Series A funding by existing investors Pawan Borle & Nirmal Singh as well as new Investors including Manish Prasad, Vineet Varma, Nick Haulkoury, and Abhai S. Rao. Guiddoo will utilize the funds to support product and technology development through their newly opened Technology & Data Unit based in Pune as well as focus on building Pan-India Distribution for its Tours & Activities & Holidays products.

Guiddoo offers unique and targeted experiences with content across 15 destinations that is available to Indian International Travelers through institutional partners like Cleartrip and Yatra, 2000+ Travel Agent Partners as well as its Web and Mobile Products. The company has already handled over 10,000+ Customers with 40,000+ activities in the past year across its destinations. This has resulted in Guiddoo seeing a 12X growth in revenue in the last year and is forecasting another 10X in sales turnover in the next 12 months. Since it is a selective aggregator that has strong ground control leading to unique and consistent experiences bringing a high level of assurance to a traveler’s trip.

Mr. Vineet Budki, Co-Founder and CEO, Guiddoo, commented, “Guiddoo has seen a strong 12X growth in the past 1 year post its pivot into the In-Destination Experience Model which is an estimated market of $20Bn annually. With further strong growth projected, we believe the required funds will help us become a significant player in the Indian Outbound Traveler segment, where our focus is to provide great new experiences with an assurance of service quality to Indian Outbound Travelers through extensive use of technology and ground relationships. We are excited to welcome Manish, Nick, Vineet and Abhai as investors in Guiddoo and will surely build a valuable travel brand for Indian travelers”.

“I am delighted to be part of the new investors in Guiddoo and impressed by the exponential strides they have made in the holidays as well as tours and Activities space,” said Manish Prasad.  He further added, “I have been part of the Guiddoo journey from the start and I believe what is interesting is Guiddoo’s phenomenal growth in terms of revenue as well as loyalty it commands with its partners due to the uniqueness and consistency of experiences it provides. In my opinion the India Outbound Travel space holds tremendous promise and I am confident the Guiddoo Team has the required intent and expertise to be a leader in the same.”

Founded in 2014 by Nidhi Varma, Vineet Budki, Prashant Choudhary and Biswajeet Karmakar, Guiddoo started as a tour guiding app but pivoted last year into an In-Destination platform offering Tours & Activities, Dining, Shopping and Entertainment options for the Indian International Traveler.

Mumbai Based Travel Tech Startup Guiddoo Raises $300K in Pre-Series A Funding

Guiddoo, India’s growing In-destination brand has raised funding of $300,000 in Pre-Series A funding by existing investors Pawan Borle & Nirmal Singh as well as new Investors including Manish Prasad, Vineet Varma, Nick Haulkoury, and Abhai S. Rao. Guiddoo will utilize the funds to support product and technology development through their newly opened Technology & Data Unit based in Pune as well as focus on building Pan-India Distribution for its Tours & Activities & Holidays products.

Guiddoo offers unique and targeted experiences with content across 15 destinations that is available to Indian International Travelers through institutional partners like Cleartrip and Yatra, 2000+ Travel Agent Partners as well as its Web and Mobile Products. The company has already handled over 10,000+ Customers with 40,000+ activities in the past year across its destinations. This has resulted in Guiddoo seeing a 12X growth in revenue in the last year and is forecasting another 10X in sales turnover in the next 12 months. Since it is a selective aggregator that has strong ground control leading to unique and consistent experiences bringing a high level of assurance to a traveler’s trip.

Mr. Vineet Budki, Co-Founder and CEO, Guiddoo, commented, “Guiddoo has seen a strong 12X growth in the past 1 year post its pivot into the In-Destination Experience Model which is an estimated market of $20Bn annually. With further strong growth projected, we believe the required funds will help us become a significant player in the Indian Outbound Traveler segment, where our focus is to provide great new experiences with an assurance of service quality to Indian Outbound Travelers through extensive use of technology and ground relationships. We are excited to welcome Manish, Nick, Vineet and Abhai as investors in Guiddoo and will surely build a valuable travel brand for Indian travelers”.

“I am delighted to be part of the new investors in Guiddoo and impressed by the exponential strides they have made in the holidays as well as tours and Activities space,” said Manish Prasad.  He further added, “I have been part of the Guiddoo journey from the start and I believe what is interesting is Guiddoo’s phenomenal growth in terms of revenue as well as loyalty it commands with its partners due to the uniqueness and consistency of experiences it provides. In my opinion the India Outbound Travel space holds tremendous promise and I am confident the Guiddoo Team has the required intent and expertise to be a leader in the same.”

Founded in 2014 by Nidhi Varma, Vineet Budki, Prashant Choudhary and Biswajeet Karmakar, Guiddoo started as a tour guiding app but pivoted last year into an In-Destination platform offering Tours & Activities, Dining, Shopping and Entertainment options for the Indian International Traveler.