Company to further expand online leadership, accelerate mobile and global presence
March 18, 2015 New Delhi: Online travel community company, Tripoto, has raised its second round of funding led by IDG Ventures India. Existing investors Outbox Ventures also participated in the round. Karan Mohla from IDG Ventures India would be joining Tripoto as a board member post this funding round. The Company funds will be primarily used for rapid growth in mobile, team augmentation and building upon the early success already seen in global expansion.
Tripoto launched in early 2014 and as the leading travel content and community sharing platform, the Company aims to disrupt the current model in this segment. It had raised a seed round earlier in November 2014 from Kunal Bahl & Rohit Bansal (Founders, Snapdeal), Sachin Bhatia (Founder, MakeMytrip and Truly Madly), Outbox Ventures among others. "We are excited to have IDG Ventures on board. They bring a lot of experience and access to a global network for Tripoto," said Anirudh Gupta, co-founder Tripoto. "Most importantly, the IDG Ventures team is entrepreneur friendly and easy to work with."
Over the past three months, Tripoto has witnessed 100% growth in web traffic, while mobile traffic has seen much higher growth. Tripoto has consistently been rated as one of the top travel apps in both the Android and iOS stores. “Mobile is one of the key focus areas for us in 2015, We will continue to scale up our community and make it more useful for travelers. We are also looking to acquire the best talent on both the technology and creative team” mentions Michael Lyngdoh , Co-founder, Tripoto
Karan Mohla, Vice President of IDG Ventures India, said “We were highly impressed with Tripoto’s dominance and rapid growth. Their mobile app usage and engagement has witnessed phenomenal growth in the months since the launch. This is a strong and cohesive team, led by Anirudh and Michael who have clearly demonstrated their ability to build and scale-up a world-class product. The segment of travel content and community is certainly ripe for disruption as it hasn’t seen true innovation in a few years.”
About IDG Ventures India
IDG Ventures India is a leading technology venture capital fund in India. The fund is part of IDG Ventures, a global network of technology venture funds with over $4 billion under management with over 220 investee companies and 10 offices across Asia and North America. IDG Ventures has been an early investor in digital consumer companies such as Netscape, BabyCenter, Baidu, Ctrip, Sohu, Tencent, DangDang, Vancl and VinaGame. In India, IDG Ventures has invested in leading digital consumer companies such as Flipkart, Myntra, Yatra.com, Brainbees (FirstCry.com), Valyoo (Lenskart.com), Vserv Digital, Ozone Media and Actoserba (Zivame.com).
Tripoto is one of the largest Global Community of Travelers with close to a million monthly users on web and mobile. It provides a platform for travellers to share and discover travel itineraries & stories, plan their trips, upload travel photos and maps, write reviews and connect with like-minded travelers. The travel itineraries are easily accessible for the community to utilise and benefit from.