[Funding alert] Traveltech Startup Travel Buddy Raises Funding From Mumbai Angels

Early-stage investment platform Mumbai Angels has invested an undisclosed amount to travel technology startup Travel Buddy as part of a fundraising round.

The startup, which was established in January 2020 by Saurav Chakraborty, Vijay Saini, and Paromita Bir, provides a travel app that connects users with other travellers, local guides.

55% of the amount raised are what Travel Buddy intends to use for product development and technological advancements. According to a press statement from the corporation, it hopes to create a platform for 240 million people by 2025 or 2026.

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“It will be our focus to open a new arena of exclusive deals in Travel buddy, in creating a win-win situation for both our travellers and the service providers. We are confident that the fresh funds will tailwind the execution of Travel Buddy’s planned initiatives for the future,” said Chakraborty.

It claims a network of more than a million travel content producers worldwide and has given 25,000 travel suppliers access to online stores.

“After a brief lull, the travel market is buoyant with accelerating demands. Travel Buddy has ensured trust and an exhilarated experience for its travellers through a unique solution that holds immense potential to address the pain points inherent in the travel industry,” said Nandini Mansinghka, co-founder and chief executive of Mumbai Angels.

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About Travel Buddy

Travel Buddy is a Travel Social Network that exists on mweb and app platforms. The idea is to form a crowd sourced platform of travelers who between themselves will share tips, advice and suggestions about destinations , experiences and itineraries

Travel Buddy(Android/iOS/Web) runs on intelligent algorithms to match potential travelers and Travel Providers based on their interest, location, behavioral and demographic data. These personalized results are then shown on your Social Feed to enable you to make better travel decisions.