Etrav Tech Ltd., a prominent provider of travel technology solutions based in Mumbai, has announced securing a significant $3.9 million in its second round of funding. The round is led by EaseMyTrip, a major player in the travel industry, marking a strategic move to bolster the offerings in the B2B segment.
Etrav Tech, which specializes in services tailored to B2B travel agents nationwide, provides an array of offerings including air tickets, hotel bookings, holiday packages, visa services, travel insurance, car rentals, and bus tickets. With a client base comprising over 40,000 travel agents, 600 distributors, and 700 API/white label clients, Etrav Tech primarily generates revenue through air ticket sales.
Under the leadership of Heniel Rupaarelia, the company has experienced phenomenal growth, doubling its revenue from FY 2021-22 to 2022-23. This growth trajectory has been complemented by strategic acquisitions, such as the UAE’s Eagle Crest DMC and its subsidiaries across Thailand, Bali, and Vietnam. These acquisitions are part of Etrav Tech’s strategy to diversify its portfolio and extend its global reach, thereby solidifying its presence in the market and contributing to overall industry growth.
This new round of funding follows an initial investment round in October 2023, which saw Etrav Tech valued at $69.78 million pre-funding, rising to $76.13 million post-funding with a total of $6.35 million raised from various investors. In this latest round, which took place in March 2024, the company maintained its valuation of $76.13 million, with EaseMyTrip securing a 4.94% stake with its investment.
EaseMyTrip’s CEO and co-founder, Nishant Pitti, expressed enthusiasm about the new investment, highlighting the company’s strategy to expand its services beyond the air travel sector. “This investment in Etrav Tech is pivotal for enhancing our service offerings, particularly for our corporate clients. By harnessing Etrav Tech’s technological capabilities and B2B expertise, we are set to deliver superior services and enrich the travel experiences of our clients,” said Pitti.
The partnership between Etrav Tech and EaseMyTrip is poised to introduce innovative solutions and improvements in the travel technology sector, ensuring comprehensive service delivery that caters to the dynamic needs of today’s corporate travelers. As Etrav Tech gears up for its next phase of growth with this new capital, the travel technology landscape looks set for exciting developments.
