Travel Startup Trip38 Raises $1 Mn From InterGlobe & Lantern Capital

Bangalore-based mobile-first travel technology solutions provider, Trip38 has raised about INR 6 Cr. ($1 Mn) in a new funding from InterGlobe Technology Quotient, the parent of Indigo airlines, and Singapore based Lantern Capital.

The raised funds will be invested for improving technology, product features and expanding consumer base through effective marketing,

Trip38 was founded in 2013 by Niranjan Gupta who had earlier co-founded Via.com and Magic rooms, which was sold to Yatra.com, Arun Markish, former head of travel and retail vertical at Sapient Europe, and Seshadri Krishnan, the former technology chief at MagicRooms.

It is a Post-booking travel mobile app delivering mobile e-ticket itinerary and local guide to business and leisure travelers traveling across the globe. It acts like a travel management app providing itinerary management, day of travel info and context sensitive local guide enabling seamless travel for consumers. The App aims to acts as your personal travel assistant providing all the required assistance, tips and recommendations during your travel.

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”.

The startup is yet to finalise monetisation model 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 platform in the coming weeks,” said Kirshnan.