Gurugram-based traveltech startup, Holiday Tribe, has successfully raised Rs 5.4 crore in a seed funding round led by Powerhouse Ventures and GSF. The round also included investments from industry stalwarts such as Dinesh Agarwal and Dinesh Gulati of IndiaMart, Murugavel Janakiraman of BharatMatrimony.com, and actor Gaurav Kapur.
Founded in 2023 by former MakeMyTrip executives Anshu Sharma and Chirag Goyal, Holiday Tribe focuses on offering highly customizable holiday experiences across a range of destinations. Their services cater to various travel groups including families, couples, honeymooners, adventure-seekers, and those eager to explore new or off-the-beaten-path locations. The startup boasts an impressive global supply network of over 100,000 hotels and partnerships with more than 10 tourism boards.
Discussing the motivation behind the venture, the co-founders stated, “Travel witnessed significant growth in the post-Covid era. People want to holiday with family and loved ones, and explore newer destinations more than ever. Holiday Tribe was established to meet this growing demand while addressing a key market gap – the lack of accuracy and agility in curating customized solutions for customers. We continue to work towards narrowing this gap with the implementation of robust back-end technology to provide timely solutions, in line with customer preferences.”
Holiday Tribe plans to use the capital infusion to enhance its technological capabilities, expand its supply network, and invest in brand-building initiatives. The co-founders expressed optimism about the future, saying, “This influx of capital will further our brand-building efforts through better integration of the latest technology, expanding our supply network, and exploring newer destinations. We are excited to embark on this journey with our partners at Powerhouse Ventures and GSF and are optimistic about emerging as a leisure travel partner of choice for avid travellers.”
Powerhouse Ventures, a Singapore-based venture capital firm, focuses on technology startups in India and the US. Kshitij Golwalkar, General Partner at Powerhouse Ventures, commented, “Partnering with Holiday Tribe has provided us an opportunity to foray into the dynamic category of travel and hospitality. With sound tech integration and optimal human intervention, the brand is poised to change leisure travel in India. Fuelled by the unwavering grit and vision of the brand’s founders, we look forward to driving operational excellence and customer success for Holiday Tribe.”
Rajesh Sawhney, Founder of GSF, also praised the co-founders, stating, “From the first time we met Anshu and Chirag, we understood this is a uniquely talented team who are bringing together their deep experience in the travel industry to build India’s leading customised holiday travel operator. Today’s holiday maker has unparalleled access to information on the latest trending experiences both in India and abroad, and expects a high degree of personalisation for their travels. Tailormade customer delight on every day of their trip – from flights and hotels to food and entertainment – has become the expectation that Holiday Tribe caters to.”
Holiday Tribe is a part of GSF’s Founders Academy S23 cohort, a three-month mentorship program designed for startup founders. As per a FICCI-Nangia knowledge paper, India’s outbound tourism market is expected to reach $18.81 billion in 2024 and grow at a CAGR of 11.4% between 2024 and 2034, reaching an estimated $55.38 billion. Simultaneously, India’s online travel market is forecasted to grow at a CAGR of 10.5% between 2024-2029, expanding from $17.24 billion to $28.40 billion.
