Bengaluru-based online experiential travel platform Wandertrails, has raised $1 Mn Seed funding from Earlsfield Capital, a UK-based venture capital firm. The newly raised capital will be utilised for expanding its operations across the country and building products for its growing clientele.
According to a company statement it currently hosts more than 5,000 experiential stays and immersive activities in 65 destinations across 12 states.
Wandertrails was launched in July 2016, by Hari Gangadharan Nair, Pranav Kumar Suresh, Sruti Ramesh Chander, Vishnu Menon K, and Narayana Menon K. It is an online platform enabling on-demand booking of experiences indigenous to a particular location as well as related experiential accommodation.
Meraj Alam, Managing Partner, Earlsfield said, “We were super-impressed with their ability to execute and the supply they have built in a very short time in a capital-efficient manner. We talked to a large number of their customers, both from within India and Europe, and the net promoter scores we have witnessed are incredibly high. We believe this is the next iteration in travel and we are very positive they are building a strong business with great fundamentals.”
Wandertrail offers a range of options like homestays, treehouses, house boats, heritage homes, tented and camping stays, boutique resorts, etc. It also offers activities like treks and adventure trails, culinary sessions, heritage walks, art trails, wellness sessions, and cycling tours.
As per an IBEF report the total addressable travel market in India will be $40 Bn by 2020. In December 2016 the Federation of Indian Chambers of Commerce and Industry (FICCI) launched a ‘Travel Tech Launchpad’ to boost innovation and growth of travel startups during the second edition of FICCI’s flagship event ‘Digital Travel, Hospitality and Innovation Summit.’
The Indian travel space recently witnessed the merger of two major entities. MakeMyTrip completed the merger of its Indian travel business with Naspers-owned Ibibo group, which was announced last October. Ibibo Group parent company contributed around $82.8 Mn cash to MakeMyTrip.
Earlier this week, online travel marketplace TravelTriangle raised $10 Mn Series B funding led by Singapore-based venture capital firm RB Investments. Existing investors SAIF Partners and Bessemer Venture Partners also participated in the round. Other startups in this segment include Tripshelf, Deyor Camps, ClearTrip, ixigo, etc.