TripHobo receives Series’B’ funding from VC’s recently. Pune based JoGuru Inc operates and owns the online trip planning platform TripHobo.com.
TripHobo resources user generated travel itineraries. The company has developed visual algorithmic trip planner called ‘Trip Optimizer’ allows users to choose where they want to travel, suggests attractions. TripHobo helps plan each trip day in details and user can bookings for the same through the platform.
Trip Optimizer is powerful algorithm it allows the user to customize the input. Say for ex: if you go to London for a short holiday, user like to minimize the time spent commuting between your hotel and places on the itinerary. The algorithm lets the user to optimize the trip using number of parameters such distance from hotel, opening and closing times of places to visit etc., The algorithm is self learning from fresh data without being re-programmed explicitly.
The company has more than 25,000 curated and verified itineraries written by travellers, covering about 10,000 tourist hotspots in 170 cities around the globe. On TripHobo user can edit the earlier itinerary, customise it and make it own. Apart from creating itineraries, finding interesting places and booking suitable hotels, TripHobo allows other travellers to network worldwide to share experiences.
TripHobo was founded by Praveen Kumar (IIM Lucknow), Karthik Ramachandra (IIM Indore) and Saket Newaskar (MDI Gurgaon) in 2012. Earlier the company was called JoGuru.com later rebranded to TripHobo. The company targets global market audience as part of their operations. They are keen on getting global traveller’s knowledge base on their platform.
TripHobo received their seed capital of $400k in Oct 2012. Kalaari Capital funded TripHobo’s Series ‘A’ capital for $2 million in Jun 2014. In March 2015 the company received their Series ‘B’ funding received from Kalaari Capital and new venture investor Mayfield Ventures. A total $2.4 million has been funded by Kalaari Capital till now.
Nikhil Khattau Managing Partner, MF Advisors and advisor to Mayfield India II said “The ambition for TripHobo is to be the central point of the trip planning process by allowing users to plan, optimize and eventually book customized trips by leveraging technology. The founders of TripHobo have demonstrated a keen understanding of the industry and built a scalable platform that has seen great traction over the past year.”
Praveen Kumar of TripHobo said”We’re excited to be now associated two of the leading VC firms in India. Three years ago, we set out to create a global product out of India. Being avid travellers, my co-founders and I felt that there was a massive space for innovation in customization of travel.”
The funds will be utilised for investment in research and development, talent acquisition, scaling content and integration of technology with the travel ecosphere. The company is one among the top 30 global companies picked to attend the PhoCusWright travel innovation summit to be held in Los Angles later this year.
Several online travel planning portals have sprung recently that offers their own speciality. Online travel planning is witnessing lot of funding activity. Companies like Tripoto have received huge funding recently.