India is a country of startups. There are a lot of startups and every cubical there is an idea cooking up. There are huge investments coming into India. Foodtech, a while ago was a business field which did not feel would grow in India. However, it has skyrocketed and there are companies which are valued in billions. That said, there is another such field known as Traveltech where people are not focusing much. There are hospitality companies doing well but Traveltech companies are finding it hard.
There is a startup named Guiddo, which was founded in 2013 by four people; Vineet Budki, Vishal Shah, Nidhi Verma, and Prashant Choudhary. This startup is a one of a kind startup as it provides avid travelers facilities which are much needed but hard to find. This company provides services like guided tours, dining options, various activities, entertainment, and shopping as well. The company is headquartered in Mumbai and operates from there.
It has grown exponentially since its inception. The company is already present in 15 international destinations and has over 4,000 travel agents across India. The company has claimed that it had over 5,000 excursions and has provided its services to over 30,000 customers in India. The Mumbai-based company has partnered with Yatra and Cleartip as well.
The company has now grabbed funding from SOSV, a venture capital firm from the US and from Artesian China Fund. This funding is for expanding its operations in China. The company is looking to provide its services for people traveling to China and this undisclosed amount of investment will help the company achieve its target.
That said, William Bao Bean, General Partner at SOSV said that travel sector is headed for growth and the investments are no-brainers. “With requisite infrastructure and support, the travel sector is well-poised for growth and with Guiddoo’s expertise in the ‘In-destination’ segment, we are confident of successfully reaping the opportunity,” he said in a statement.
Oscar, MD at Chinaccellerator said that Guiddo is best in business when it comes to that. He said, “Guiddoo brings the best-in-class, digital, in-destination experiences for the independent Chinese travelers, which we believe is a growth segment as group tours are so old school. Having deen the strong growth in the travel segment especially seeing the growth of Ctrip, Qunar, and Mafengo, we see huge growth potential in the Outbound Chinese Travel Market and we believe that Guiddoo has the right product, team, and expertise to build a strong base here.”
The Indian tourism market is expected to reach a staggering worth of $42 billion by the time we hit 2024. This is the market Guiddo is trying to catch and it will be able to catch if it keeps on growing at this rate.