Travel Startup Dharma Raises $4.7M in Pre-Series A Round to Fuel Expansion
- ByStartupStory | October 12, 2023
Abu Dhabi-based travel management platform, Dharma, has secured $4.7 million in a pre-series A funding round, significantly boosting its plans for expansion. The funding was led by Convivialite Ventures, a San Francisco-based venture capital firm. This latest round brings Dharma’s total funding to $10 million. Notably, the round also attracted interest from several other prominent investors.
Marketplace-focused FJ Labs, Equinox, and Stephen Ross, the owner of fitness club brands such as Soul Cycle, participated in this round. Additionally, investors and angels including Shorooq Partners, Matt Higgins of Shark Tank, football legend Eric Cantona, Rafat Ali, founder of Skift, and the Mubadala-backed fund were part of this investment endeavor.
Dharma aims to utilize this funding to further diversify its offerings, expanding into sectors like culinary tourism, sports, fashion, and lifestyle tourism. According to Charaf El Mansouri, CEO and Co-founder of Dharma, their vision is rooted in the belief that the future of travel is centered around passion. “If for the past 50 years people have traveled for the ‘where,’ the next 50 years people will travel for the ‘why.’ That’s the future Dharma is enabling,” he remarked.
Dharma, which was founded in 2018 by Nisma Benani, Brice Carpentier, Charaf El Mansouri, and Leah Howe, is renowned for offering travel experiences hosted by influencers and brands. As part of their expansion, the company relocated its operations from New York and Marrakesh to Abu Dhabi. This strategic move reflects Dharma’s vision for the future of travel and its dedication to providing unique and passion-driven travel experiences.
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This recent funding comes on the heels of Dharma’s exciting partnership with Paramount Global to launch “Paris in Emily,” the first official travel experience associated with the popular Netflix series.
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