Gurugram-based traveltech startup Holiday Tribe has raised Rs 5.4 crore in a seed funding round led by Powerhouse Ventures and GSF. The round also saw participation from prominent investors, including Dinesh Agarwal and Dinesh Gulati of India Mart, Murugavel Janakiraman of BharatMatrimony.com, and actor Gaurav Kapur. This funding aims to help the startup strengthen its technological capabilities and expand its brand reach.
What Holiday Tribe Offers
Founded in 2023 by former MakeMyTrip executives Anshu Sharma and Chirag Goyal, Holiday Tribe provides customizable holiday experiences tailored for families, friends, couples, honeymooners, and adventure seekers. Their extensive travel network includes more than 100,000 hotels worldwide and partnerships with over 10 tourism boards. The company focuses on providing personalized and unique travel solutions for those seeking newer or unexplored destinations.
Holiday Tribe was created to meet the increasing demand for leisure travel post-Covid. The co-founders highlighted that there is a growing need for customized and accurate travel solutions, which the company addresses by using advanced technology. “We aim to provide timely solutions that meet customer preferences through innovative back-end technology,” they said.
Use of Raised Capital
The newly raised capital will be used to strengthen Holiday Tribe’s tech infrastructure, expand its supply network, and boost brand-building initiatives. The startup plans to integrate the latest technologies to enhance customer experiences and explore new destinations.
Powerhouse Ventures, a Singapore-based venture capital firm, focuses on supporting technology startups from India and the US. Kshitij Golwalkar, General Partner of Powerhouse Ventures, shared his optimism, saying, “Holiday Tribe is set to transform the travel and hospitality industry in India by combining tech integration and human expertise.”
Rajesh Sawhney, Founder of GSF, emphasized the experience of Holiday Tribe’s founders in the travel sector, stating that personalization is the key to creating exceptional travel experiences today. “Holiday Tribe excels in offering tailor-made holidays that cater to every need, from flights to entertainment,” Sawhney added.
Travel Industry in India
India’s travel market is experiencing rapid growth. A report by FICCI-Nangia predicts that India’s outbound tourism market will reach $18.81 billion in 2024 and grow at a CAGR of 11.4% to reach $55.38 billion by 2034. Similarly, the online travel market is expected to grow at a CAGR of 10.5% between 2024 and 2029.
