Etrav Tech's $3.9 Mn Investment Led By EaseMyTrip Propels Growth

Mumbai-based Etrav Tech Ltd. on Monday has successfully secured a substantial investment of $3.9 million (INR 33 crore) in its second round of funding. The funding round was spearheaded by EaseMyTrip, a prominent player in the travel industry. This strategic infusion of capital not only signifies a pivotal moment for Etrav Tech but also underscores its commitment to innovation and expansion.

Etrav Tech specialises in offering comprehensive travel services to B2B travel agents across the nation. Its diverse range of offerings includes air tickets, hotel bookings, holiday packages, visa services, travel insurance, car rentals, and bus tickets. With a robust clientele consisting of over 40,000 travel agents, 600 distributors, and 700 API/white label clients, the company primarily generates revenue from air ticket sales.

Under the leadership of Mr. Heniel Rupaarelia, Managing Director of Etrav Tech Ltd., the company has witnessed exceptional revenue growth, exceeding 100% from FY 2021-22 to FY 2022-23. Recently, Etrav Tech expanded its horizons by acquiring UAE's Eagle Crest DMC, along with its subsidiaries in Thailand, Bali, and Vietnam, aiming to diversify its portfolio and facilitate global expansion.

Mr. Rupaarelia, with his entrepreneurial acumen, embarked on his journey in 2017 with a travel agency, later venturing into travel distribution in 2018. Amidst the challenges posed by the COVID-19 pandemic in 2020, he founded Etrav, demonstrating a commitment to innovation and adaptability.

The $3.9 million investment will be strategically utilized to fuel Etrav Tech's ambitious expansion plans. The company intends to enhance its technological capabilities by investing in cutting-edge infrastructure to streamline processes and enhance the user experience. Furthermore, it plans to diversify its product portfolio to cater to evolving client needs and strengthen its foothold in key international markets, including Thailand, Bali, and Vietnam.

"This investment marks a significant milestone in our journey towards reshaping the travel tech landscape. With EaseMyTrip's support, we are well-positioned to unlock new opportunities, drive exponential growth, and redefine the travel experience for our clients globally," Heniel Rupaarelia, M.D., of Etrav Tech Ltd., said in a statement.

In the first round of funding in October 2023, Etrav Tech achieved an initial valuation of $69.78 million, with a post-valuation of $76.13 million and funds raised totaling $6.35 million. In the second round conducted in March 2024, the valuation remained at $76.13 million, with EaseMyTrip's investment of $3.9 million for a 4.94% stake.

Nishant Pitti, CEO and co-founder of EaseMyTrip, highlighted the strategic importance of the investment, stating that it would enhance services for corporate clients and mark a milestone in their journey towards providing seamless travel experiences backed by innovation and technology.

As Etrav Tech embarks on this transformative phase of growth, it is poised to set new benchmarks in travel technology. With a steadfast commitment to innovation and customer-centricity, Etrav Tech is primed to shape the future of the travel tech industry and deliver unparalleled value to its stakeholders, propelling itself to new heights of success and innovation.