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Backed by $10M Series A, TravelJoy is riding the post-COVID demand for expert travel planning

TechCrunch · 1y ago

Backed by $10M Series A, TravelJoy is riding the post-COVID demand for expert travel planning

TravelJoy, a travel-focused startup providing tools for travel entrepreneurs, has thrived despite the pandemic. The company is now facilitating over $1 billion in annual spend for its customers as interest in travel rebounds post-pandemic. Co-founder and CEO Dayo Esho drew inspiration from his experiences in the travel industry, and he teamed up with co-founder CTO Chris Kline to build TravelJoy. The software helps travel entrepreneurs compete with DIY travel planning tools and consolidates their workflow through CRM, messaging, payments, and more. The company recently raised a $10 million Series A funding round and plans to incorporate AI features into its platform.

Related News

Cab-hailing firm Ola Consumer gets another valuation cut

VCCircle

VCCircle · 8m ago

Cab-hailing firm Ola Consumer gets another valuation cut

Cab-hailing firm Ola Consumer is facing another valuation cut as an existing investor, Vanguard, has revised its fair value estimate downwards by about 15%. This comes after Vanguard slashed Ola's valuation to just under $2 billion last year. Ola has experienced significant fluctuations in valuation over the past four years and is now worth roughly half of its group firm, Ola Electric. The COVID-19 pandemic hit Ola hard, with revenue plunging about 95% as lockdown measures curbed travel demand. Ola Consumer is reportedly planning an IPO following in the footsteps of Ola Electric.

Ixigo IPO: A look at the online travel aggregator’s listed rivals

Economic Times

Economic Times · 1y ago

Ixigo IPO: A look at the online travel aggregator’s listed rivals

Ixigo, the online travel company, made its stock market debut with a 45% premium over its issue price. The IPO of Le Travenues Technology, which operates Ixigo, was oversubscribed 98 times, showcasing strong demand. Other players in the travel sector, like Makemytrip, Yatra, and Easemytrip, have also seen varying performances. Makemytrip recorded record profit and gross bookings, Yatra reported a loss, and Easemytrip posted an increase in revenue and profit. The online travel aggregator industry faced challenges during the Covid-19 pandemic but quickly recovered as the demand for travel increased.

PE-backed Carzonrent bounced back but lack of tailwinds restricts revival

VCCircle

VCCircle · 1y ago

PE-backed Carzonrent bounced back but lack of tailwinds restricts revival

Carzonrent India Pvt. Ltd, a car rental and corporate travel service, experienced a revival in business in FY23 after struggling for the past two years due to COVID-19 disruptions. However, the recovery was short-lived, and the lack of favorable market conditions hindered further growth. Despite being backed by WestBridge, Carzonrent faces challenges in sustaining its revenue.

Red carpet for foreign arrivals, make ’India inevitable’: Hospitality sector’s New Year resolution

Livemint

Livemint · 6m ago

Red carpet for foreign arrivals, make ’India inevitable’: Hospitality sector’s New Year resolution

The Indian hospitality industry is preparing for an influx of foreign tourists as arrivals are expected to surpass pre-Covid levels next year. The sector aims to contribute $1 trillion to India's economy by 2047 and is looking to the government for policy support. The industry anticipates higher occupancies and room recoveries, with India's travel market projected to grow from $75 billion to $125 billion by 2027. The boom in domestic travel has benefited the industry, and international tourist arrivals are also showing signs of steady recovery. The future looks promising, with increasing demand and a shift in consumer behavior towards travel.

Future 'very strong and bright' as India's consumption boosts travel: Tata Sons Chairman N Chandrasekaran

Economic Times

Economic Times · 10d ago

Future 'very strong and bright' as India's consumption boosts travel: Tata Sons Chairman N Chandrasekaran

Tata Sons Chairman N Chandrasekaran expressed optimism about India's travel sector, viewing its future as "strong and bright" due to growing consumption. Speaking at the IHCL AGM, he outlined plans for a global footprint of 700 hotels by 2030 and revenue targets over Rs 15,000 crore. Highlighting India's resilience post-Covid amid global economic slowdowns, he praised IHCL's financial performance, noting significant revenue and profit growth, and a robust cash reserve.

For 19 years I dreamt of this: EaseMyTrip Co-founder Pitti on buying Lamborghini

IndianStartupNews

IndianStartupNews · 1y ago

For 19 years I dreamt of this: EaseMyTrip Co-founder Pitti on buying Lamborghini

EaseMyTrip co-founder, Rikant Pitti, fulfilled his dream of owning a Lamborghini Urus Performante. In a LinkedIn post, he shared the journey of EaseMyTrip and expressed his passion for changing the travel scene with technology and services. Pitti highlighted that despite the COVID-19 pandemic, he continued to work towards his dream while also donating oxygen concentrators to NGOs and hospitals. Pitti's post received mixed reactions, with some praising his achievements and others suggesting it was self-congratulatory.

China's SMIC flags chip oversupply risk on weakening demand, rising output

Economic Times

Economic Times · 5m ago

China's SMIC flags chip oversupply risk on weakening demand, rising output

China's largest chipmaker, SMIC, warns of potential chip oversupply by late 2025 due to declining demand and increased production capacity, sparking price competition. The company focuses on established chips for consumer electronics, heavily affected post-COVID demand slump. SMIC saw a 31.5% revenue increase in Q4 2023, forecasting continued growth amid rising share prices. However, U.S. export controls affect access to advanced technology, prompting SMIC to boost domestic semiconductor capability and manage profitability challenges.

Decoding Cleartrip Middle East’s game plan after checking out of Flipkart via MBO

VCCircle

VCCircle · 2m ago

Decoding Cleartrip Middle East’s game plan after checking out of Flipkart via MBO

Cleartrip Middle East, an online travel marketplace, is planning to expand its offerings and seek external funding after separating from Flipkart through a management buyout. The company, now backed by a firm associated with a member of the Qatari royal family, aims to strengthen its presence in the travel industry. This strategic shift will likely focus on enhancing services and exploring new market opportunities, as gathered from recent insights.

Scoot eyes non-metro cities for India growth

Livemint

Livemint · 1y ago

Scoot eyes non-metro cities for India growth

Scoot, a subsidiary of Singapore Airlines, is targeting non-metro cities in India as it sees growing demand for travel from smaller cities. The airline aims to tap into the trend of travelers from non-metro areas seeking international destinations beyond well-known spots. Scoot currently operates flights to various Indian cities and is looking to expand its operations, including resuming flights to Chennai. The airline acknowledges that sales channels are evolving, with some travelers in tier-2 cities using AI tools like ChatGPT to plan their trips before booking through travel agents. Despite competitive challenges, Scoot has seen its air traffic in India return to pre-COVID levels, with growing demand for international travel experiences.

Etihad to sound out investors as Gulf carriers race towards IPOs

VCCircle

VCCircle · 5m ago

Etihad to sound out investors as Gulf carriers race towards IPOs

Etihad Airways and flynas are preparing for IPOs on local stock markets, marking the first Gulf carrier listings in nearly two decades. Etihad plans to sell a 20% stake, potentially raising $1 billion. These listings are driven by efforts to diversify economies, notably through tourism, as travel revives post-pandemic. Saudi's flynas and Dubai’s Emirates are also potential IPO candidates. The Gulf, experiencing growth in air travel demand, leads IPO activities in the Middle East.

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