Online travel marketplace TripShelf has raised pre-Series A round of funding worth $250,000 from Delhi-based GEMS Group, an early-stage sector agnostic fund.
While it is known that GEMS have invested $250,000, the valuation at which the funding was raised remains undisclosed. The newly raised funding will be used to establish traction with the customer and travel operator community.
The startup was founded by father-son duo Jai Raj Gupta and Dhruv Gupta in partnership with Sukhmani Singh in April 2016. TripShelf aims to be the primary point of contact for anyone planning a holiday.
As per Jai Raj, around 80% of consumers who shop for travel online, surf more than 15 websites before deciding. There is currently no standard to compare services making it a frustrating task for the consumers. TripShelf believes to be the one-stop solution for the same.
TripShelf is an online marketplace(or aggregator) for leisure travellers, that helps them discover, compare & buy the best holiday packages from tour operators. It will provide you with a comprehensive listing of national and international destinations from partner tour operators. Users can also compare packages across relevant parameters such as price, hotel category, inclusions etc.
Dhruv Gupta, co-founder of the company, said,
Customers truly have choice as our offering is not limited to a handful of pre-selected tour packages. For instance, Tripshelf may have 50 options to Manali from 15 operators offering price and service options to help travellers compare in a transparent manner and make an informed choice. Also, multiple tour operators are listed under their own brand name.
GEMS is an early stage, sector agnostic fund servicing companies that are customer centric and leverage technology as a scale multiplying factor for delivering high shareholder value. It believes in mitigating risk factors, associated with its investment strategy, through involved investment of time and vertical expertise, with its portfolio companies.
Aditya Gupta, Managing Partner at GEMS Group adds that,
TripShelf provides access, ease and simplicity to today’s leisure traveller. It offers a highly innovative and scalable marketplace oriented business model fulfilling a major gap that exists in the market today. In today’s complex world, ease coupled with choice for the consumer, is essential.
As per the company, market for leisure travel packages in India is more than $4 billion. The company believes that its unique and scalable business model gives it an edge over its competitors. Thus, it is looking to expand its business and reach over 100 operators, offering more than 1,000 holiday packages across the world.
The startup has step foot into an already crowded market with prominent players like Yatra and MakeMyTrip offering holiday packages as highly discounted rates. It will be important to see how TripShelf compares with the former two and takes the necessary steps to set itself apart in offering a more customized and seamless holiday experience to the travellers.