SAIF Partners invests $1.5 mn in Airblack

SAIF Partners Tuesday said it has invested 1.5 million (about Rs 10.45 crore) in social-travel commerce startup Airblack.

"The seed round will be utilised for launching their consumer product, ramping up their traveller community and hiring of core team," a statement said.

Started in February this year by Pulkit Pujara and Videt Jaiswal, the city-based company leverages WhatsApp and Instagram ecosystem to connect people with verified network of power travellers and travel influencers.

The platform has already helped more than 1,000 travellers with their travel plans, it added.

SAIF Partners, which manages over USD 4 billion in assets across India and China, has earlier backed Paytm, MakeMyTrip, Meesho, ShareChat, Swiggy and Urbanclap at an early-stage. SAIF has also invested in other travel startups such as Treebo and Travel Triangle.

"Over USD 600 billion is spent on international travel in Asia, and we see India's international travel market at an inflection point already...We were impressed by the (Airblack) team's unique insights and community-driven approach to cater to this traveller," SAIF Partners Principal Mayank Khanduja said.

The company saw a strong social need for people to talk with other travellers before taking purchase decisions, Videt Jaiswal, co-founder at Airblack said.

"We are focused on creating a strong trust layer in this category," he added.