This is Shah’s first investment in the travel startup. Mathrubootham and other existing investors including Shyam Sekhar of financial consultancy iThought, deployed follow-up capital in the company through this round.
Pickyourtrail had raised its Series A of Rs 21 crore in 2019 from Vembu and other investors, utilizing the funds towards scaling its proprietary technology platform. With the current round, Pickyourtrail is all set to open its office in Dubai.
The funding comes at a time travel companies are noticing a significant pick-up in business, Pickyourtail co-founder Hari Ganapathy told ET. Pickyourtrail expects its March sales numbers to be at least twice its peak monthly sales figure from its pre-COVID quarters, indicating there is a steady pickup in the travel business. Vembu, according to a release, said the funding round follows an effort on the part of Pickyourtrail to build its product and technology stack by utilizing the downtime during the lockdowns.
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