Bag2Bag, a travel technology startup, based out of Bangalore, India which deals in online hotel booking have received their first external funding from a US based investor. This is still a tough phase in travel and hospitality sector, but Bag2Bag’s growth is significant, future plans are promising and the team is experienced which has established Investor’s belief in the startup.
While the amount of investment remains undisclosed, but the seed funds received will be good enough at this point for startup to expand to next level. At present when Bag2Bag is already generating good revenue to cover its operational cost, this seed funding will help them to strategically work on enhancing the platform capability, strengthening the talent pool, expanding their partner’s footprint, and adding more services to offer on their platform. The current staff strength is 15 including founders Alok Mishra, Anurag Tiwari and Gaurav Garg. The company is hiring a few more to add in Software development, Sales, and business development in next 3-6 months.
In short span of time, Bag2Bag has established themselves as an online hotel accommodation provider for the short stay segment in more than 50 cities across India. Bag2Bag is focused on flexibility and affordability of customers by providing the Premium to Budget hotel rooms on pay per use or pay per hour basis. The company has received tremendous responses and positive feedbacks from customers which also reflects on booking and Revenue growth as the company has seen a YoY increase of 800% from 2020 to 2021. Bag2Bag is looking forward to 2022 to make their concept further grow in Tier 1 cities and well known in Tier 2 and Tier 3 cities as well. Bag2Bag has advocated that the affordability and flexibility in hotel booking increases the willingness of people to book a hotel room which in turn increases the revenue of hotel owners. As the concept grows, more customers in all segments across the country and more hotel providers can get the benefit of this.
Alok, the founder of Bag2Bag, has also mentioned that Bag2Bag platform is not going to be about just short stays. The company is working towards shaping the platform to be more of a hospitality booking application rather than just hotel booking application. The whole team at Bag2Bag is working hard to add more exciting services on their platform which will soon go online. These upcoming services will not only help customers by providing choices and ideas on a single platform but will help greatly to Property owners and providers in adding to their existing revenue without worrying about any extra cost – As per the founder of Bag2Bag – Alok