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.