Etrav Tech raises $3.9 million investment led by EaseMyTrip

Mumbai-headquartered Etrav Tech Ltd. has secured an investment of $3.9 million in its second round of funding, led by EaseMyTrip. Etrav Tech specialises in providing comprehensive travel services to B2B travel agents nationwide and offers air tickets, hotel bookings, holiday packages, visa services, travel insurance, car rentals, and bus tickets. 

According to the company, it has a 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 Heniel Rupaarelia's leadership, Etrav Tech has experienced exceptional revenue growth, exceeding 100 per cent from FY 2021-22 to 2022-23. Recently, the company expanded its horizons by acquiring UAE's Eagle Crest DMC, along with its subsidiaries in Thailand, Bali, and Vietnam. This strategic move aims to diversifyEtrav's portfolio and facilitate global expansion, thereby enhancing its market presence and contributing to industry growth," the company said in a release. 

The company said the investment will be allocated judiciously to fuel Etrav Tech's ambitious growth trajectory. In the first round of funding in October 2023, the initial valuation was $69.78 million, with a post-valuation of $76.13 million and funds raised totalling $6.35 million from a diverse group of investors. 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 per cent stake.

On the Funding, EaseMyTrip’s CEO and cofounder Nishant Pitti said in a statement, “We are aiming at diversifying our portfolio in the non-air segments. After investing in hotels, we now intend to enhance our services for our corporate clientele, and investment with ETrav Tech Limited will be pivotal in the same. Leveraging their tech capabilities and expertise in dealing with B2B clients, we are confident to service our clients better with improved offerings. Strategic decisions like this mark a milestone in our journey and fortify our commitment to providing seamless travel experiences for our customers, backed by innovation and technology.”