• | 3:00 pm

Business travel startup Tumodo sets sights on India

Fresh from a $35 million fund-raise, the corporate travel management startup is looking to open its first office in India

Business travel startup Tumodo sets sights on India
[Source photo: Chetan Jha/Press Insider]

Dubai-based business travel platform Tumodo has set sights on setting up shop in India, where it sees an 18.3% surge in market this year.

Fresh from a $35 million fund-raise in a pre-seed round, the business-to-business travel startup is looking to open its first office in India in Bengaluru, the company, allows businesses to manage their expenses and increase operation efficiency, said in a media release.

Last year, business travel spending in India grew year-on-year by 24.7%, indicating robust demand for efficient, cost-effective, and sustainable travel solutions in the country, the company said.

India accounts for 5.7% of business travel in Central Asia and the Pacific, the travel startup said, adding that the India market is expected to fully recover its pre-covid business travel expenses by 2025 and exceed pre-covid levels by 20% in 2027.

“With its innovative solution and cutting-edge platform,” the company said it “aims to capture 5% of the Indian travel market by 2027.”

“We are excited to introduce Tumodo to India, a rapidly growing market with immense potential,” said Vladimir Kokorin, co-founder of Tumodo.

“Thanks to AI technology, the platform allows businesses to find the best deals on flights, hotels, and other travel essentials with just a few clicks, saving them, on average, 35% on travel costs. Our platform will boost business travel booking in India and empower businesses to focus on what matters most-their core activities,” Kokorin said.

Tumodo, which was set up last year, already has extensive tie-ups in the Middle East and North Africa (MENA) market, including with fintech firm Tabby and real estate developer Azizi, the company said, adding that it provides access to 400 airlines and 2 million housing options in the region.

India is one of the top countries where business travelers also extend their business trips for a vacation. The trend for ‘bleisure’ (business + leisure) in India after the pandemic is gaining momentum, and according to experts, it is expected that up to 70% of people on business trips will extend their trip for rest, the startup said.

About 60% of travel buyers expect more travel this year, with two-thirds anticipating increased business travel spending, the startup said, citing Global Business Travel Association data.

In-person connections for business and demand for sustainable, cost-efficient travel solutions will drive this growth, it added.

More Top Stories: