The Delhi-based online travel startup, Smartairtrip.com has raised $10 Mn in first round of funding for 10% equity in the company. This round of funding values the company at $100 Mn.
The company will use the funds to enhance their technology, strike exclusive deals with airlines and hotels, operational expansion and marketing. Besides, the company will also look to pre-purchase hotel rooms exclusively and seats in various airlines, and would sign up exclusive deals.
The company is in the process of filing its prospectus for going public on the BSE, and will list its ADRs on the NASDAQ stock exchange in the next financial year.
Last year, Smartairtrip had turnover of INR 36 Cr. and, this year, the company is expected to reach INR 200 Cr mark, which is a 45% growth.
Smartairtrip focuses on offering exclusive deals to travel agents with rich airline and hotel content with the highest commissions in the travel industry.
It also claims to provide the best discounts in the industry to the end consumer directly through its website. The company currently has 12,300 travel agents with presence in India, USA, UK, Canada, and Thailand.