New-Delhi based social-travel business, Airblack, raised a seed fund equal to $1.5 million in a funding round led by the venture capitalist firm, SAIF Partners. The startup will utilise the funds raised to launch its product, hire a core team, and improve its traveller community.
Airblack is a platform that allows travellers to connect with verified power travellers and travel influencers so that they can get recommendations on their travel plans. Currently, the platform allows travellers to connect through social media platforms, Instagram and Whatsapp. It is operated on a private-beta mode.
The company was started in February 2019 with the idea to help travellers reach out to a travel community where their queries and confusions related to their next trip can be solved through a personal chat. As per reports, more than 1,000 travellers have already benefited through this platform.
The founders see potential in the travel industry as more than $600 billion is spent on travel in Asia alone. India, too, is looking at a sharp rise in growth in the international travel sector.
Airblack taps the travel industry in anticipation of a wave of huge customer demand in the sector as people have become more independent in planning trips. With the rise in disposable income, expenditure on international travel is also on the rise.
The funding by SAIF Partners is the latest initial-stage funding for a company. It has backed many other startups previously such as Swiggy, Paytm, MakeMyTrip, ShareChat, Meesho, and Urbanclap.
Source: Business Standard