TripFactory raises $10 mn in Series A from Aarin Capital

The online holiday booking start-up will use the fund to build an auto-curation technology that can integrate and connect more travel advisors and agents with travellers

TripFactory, a Bengaluru-based travel technology start-up, said it had raised $10 million in a Series-A round of funding from Aarin Capital, backed by former Infosys board member T V Mohandas Pai. It looks to deploy the funds to develop infrastructure to connect advisors and agents with travellers. It also plans to go abroad in 2016 and increase headcount to 400 by March from 40 now.

TripFactory, bootstrapped and launched in 2014 by Vinay Gupta and Amit  Aggarwal, founders of city-based travel agency Via.com.

“India is a large growing market for both domestic and outbound travel and most consumers like personalising their own holidays or seek assistance by talking to experts who can plan for them and we are making that whole experience seamless using technology,” said Aggarwal, also the chief executive  of TripFactory.

TripFactory provides packages curated by tour experts and travel operators that travellers can customise according to their needs. Within 13 months of establishment, the startup has brought on board travel experts across 38 countries and has a portfolio of more than 100 destinations. The company has partnered with Jet Airways, Go Air, SpiceJet and Air Costa. The Start-up has already sold around 4,000 holidays with a gross value of over $2 mn in its first year of operations.

“TripFactory has a strong and experienced team in its founders and their team, earlier having built Via.com. I see good opportunity and rapid growth already over the last few months…,” said T V Mohandas Pai, co-founder Aarin Capital.

Online travel industry is estimated to be a whopping $11 billion market in India. The sector has already seen a lot of traction with players like MakeMyTrip, ClearTrip and Yatra active in the market.