Travel tech startup OnArrival raises pre-seed funding from Antler India
- ByStartupStory | January 24, 2023
OnArrival, a travel technology business based in Bengaluru, said on Monday that Antler India has provided pre-seed funding of $175,000 (or roughly Rs 1.42 lakh).
The additional monies will be used to hire personnel for the sales and technical departments.
Ankit Sawant and Pawan Shetty established OnArrival in 2022. By integrating 20 auxiliary travel services onto a single platform using its own application programming interface, it seeks to close user experience gaps (APIs). This makes it possible for vendors like online travel agencies (OTAs) or other travel booking channels to provide their clients with these services through a single interface.
“Just like in the airline industry, ancillaries are responsible for all the profitability. We are here to help these business-to-business (B2B) customers serve their end users much more, resulting in a healthier bottom line,” said Sawant.
“It is our conviction that travel will continue to boom, and its future will be about more seamless and connected experiences. An API business like OnArrival has the potential for tremendous value-creation for customers and sellers, with technology moats and network effects,” said Nitin Sharma, partner at Antler India.
Early stage venture funding fund Antler India is run by Antler. It has backed businesses in a variety of industries, including Web3, fintech, software-as-a-service (SaaS), edtech, e-commerce, mobile, HRtech, social, and community. The VC business typically writes checks between $300,000 and $500,000; for larger checks, it partners with angel investors and early-stage investors.
Antler India led the $270,000 (about Rs 2.2 crore) pre-seed capital round for Salad, a femtech platform, last week.
Antler had amassed $300 million for its global fund as of 2021. In a conversation with VCCircle, the company revealed its intention to invest between $100 and $150 million in Indian businesses over the following three years.
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