India's TripFactory raises Series A round from Aarin Capital

A partner from Aarin will join TripFactory's board, according to a Livemint story linked from TripFactory's website. Though the size of the funding round was undisclosed, it is reported to be less than $10 million. The company will use the new capital to expand its technology team and improve its mobile expertise.

TripFactory provides travel packages to customers through its website. Packages are curated by travel operators and tour experts, and are organized by theme, location and price. The site employs language parsing technology to allow customers to search for packages in plain text rather than choosing their preferences from lists of options.

Currently the company offers over 10,000 holidays at more than 100 different destinations, and partners with several airlines and hotel operators. TripFactory claims to have sold about 4,000 holidays since its founding last year, with revenue of over $2 million. It hopes to reach $70 million in revenue by next year.

Aarin manages stage-agnostic funds, and invests via a variety of routes, including growth capital, mezzanine, and buyouts. Along with IT, the firm has invested in several healthcare start-ups, including Invictus Oncology, to which it committed $2 million alongside Navam Capital in 2013.

TripFactory's Series A is the latest investment in India's active online travel sector. Earlier this year, Kalaari Capital and Mayfield committed $3 million to itinerary planning site TripHobo, and travel site MakeMyTrip bought VC-backed Mygola.

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• Topics
• South Asia
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• India
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