Exclusive: Yet to launch travel app Enrouto raises seed funding from India’s Mohit Gulati

Travel social networking app Enrouto has raised $20,000 in seed funding from Mohit Gulati who recently launched early-stage venture capital fund Altius Ventures, company’s top executive told DEALSTREETASIA.

Mumbai-based The Travel Social Network is planning to launch the app by February 2016 which is in beta testing phase currently.

Founded in June 2015 by Bhargavi Desai, an electronics engineer, it connects lonely travellers with others. By using the app, users can create a profile through any medium like Gmail, Facebook and make a bucket list by adding destinations into it. Further, they can add the tentative date of travelling and choose other co-travellers for the same trip.

“The funding will be used for iOS app development, hiring talent, expanding operations and strengthen current android platform,” said Bhargavi.

Prior to founding this startup, Bhargavi has worked as an IT project manager for Fortune 100 companies like Time Warner Inc, Pfizer Inc‘s Zoetis, Triump Learning Publications.  She has done her MS in management of information systems from New Jersey Institute of Technology, US.

Enrouto’s custom algorithm matches people on the basis of the criteria selection and most importantly the destination.

“As a firm believer and supporter of women entrepreneurs and being a travel enthusiast myself, I immediately connected with this app’s concept . Meeting like minded people during your travels and being able to network is innovative in its own way! Apps like Enrouto are the way forward in the digital space,” Mohit Gulati commented.

He founded Oliphans Capital along with Anish Jhaveri in 2012 and left the company early this month to start his own fund Altius Ventures. Gulati has invested in over half-a-dozen of companies in his personal capacity.

“Travel industry has evolved a lot in the last decade and so have travellers and the way they travel. International travel has seen 1.1 billion travellers this year and is expected to grow by an average of four percent every year. As a female traveller myself, I have to think a lot about everything before planning a trip alone but the idea of travelling with like minded people gives an instant self assurance plus its cost effective,” commented Bhargavi.

“When someone is looking out for a travel partners, it should be a swift experience for them rather than going to five different sites and downloading five other different apps,” she added.

Enrouto plans to raise another $100,000 in its next round of funding. It competes with other travel apps like WAYN, Backpackr and Wandermates.

Also Read: 

Indonesia Dealbook: Travel portal Gogonesia eyes $500k fundraise

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Megaworld, Travellers International to build $1.4b leisure township in Manila

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.