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Travel app Trip 38 raises $1mn from InterGlobe Technology Quotient & Lantern Capital

Travel assistant app Trip 38 has raised
about $1 million in funding from InterGlobe Technology Quotient, the parent of
Indigo airlines, and Singapore based Lantern Capital, reports the
Economic
Times
.

Travel assistant app Trip 38 has raised
about $1 million in funding from InterGlobe Technology Quotient, the parent of
Indigo airlines, and Singapore based Lantern Capital, reports the
Economic
Times
.

“The funds will be invested towards
improving our technology, product features and expanding consumer base through
effective marketing,” Co-Founder Niranjan Gupta told the Economic Times. Gupta had earlier Co-Founded Via.com and Magic rooms,
which was sold to Yatra.com.

His other co-founders include Seshadri
Krishnan, the former head of travel and retail vertical at Sapient Europe, and
Markish R, the former technology chief at MagicRooms. 

The Bangalore-based startup aims to be a  travel assistant to users, and comes into play
only after the consumer has purchased their tickets. By emailing the users  e-ticket to a designated address, the
application is able to pull out the information it needs and present it to the
user.

After giving the app access to the user’s
itinerary, Trip38 is able to store their e-ticket for quick access and provide
alerts for their flight’s status as well as other information such as nearby
duty free shops, lounge info, check-in notifications, transit options and more.
The app automatically curates information regarding the users destination,
including but not limited to hotel info, directions, and weather.

Anil Parashar, President and CEO, InterGlobe
Technology Quotient, was quoted in the report as saying, “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”. 

Currently, Trip 38 is focusing on gaining
traction with app downloads and app usage. The
app has already 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. 

According to the report, once that target
is achieved, the app will venture into monetisation opportunities like pushing
ancillary revenues for airlines, enabling offers/discounts for hotels, travel
agents, duty-free outlets and tourism board.

“We are already in advanced
discussions with airports, airlines and online travel agencies and will have
them powered by our patform in the coming weeks,” Kirshnan told the
Economic Times. 

 

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