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Business travel startup Tumodo raises USD35M
Wednesday, 10th April 2024
Source : External source

Dubai-based business travel platform Tumodo has set sights on setting up shop in India, where it sees an 18%+ 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.

(source)

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