Traveltech startup Bookingjini said Thursday it has raised pre-Series A funding from early-stage investor Inflection Point Ventures (IPV).
The funds will be allocated towards both product development and customer acquisition strategies, the startup said in a statement. It didn’t disclose the amount it raised.
Founded by Sibasish Mishra, Bookingjini is a platform that offers a smart booking engine, channel manager, guest relationship management, analytics and mobile accessibility.
The startup claims to have secured contracts with eight state tourism development corporations and has around 2,100 customers. It has clocked $1.2 million in annual recurring revenue (ARR).
“Boutique hotels depend heavily on intermediaries to achieve their bookings, which leads to heavy commission outflow and marginal gains. Managing sales, customers, managing hygiene, hotel maintenance, guest services, and expanding the digital landscape further complicates their challenges. Bookingjini addresses these issues by providing technology, including a booking engine, a guest relationship management system, and robust customer service,” said Madhukar Bhardwaj, senior vice president at IPV.
IPV was launched in 2018 by Vinay Bansal, Ankur Mittal, and Mitesh Shah. It is an early-stage investment firm based out of Gurugram. The firm, which started as an angel investing platform, launched a $50 million fund called Physis Capital in 2022 to participate in pre-Series A to Series B rounds of growth-stage startups.
In 2023, the firm invested in around 45 deals and was consequently one of the top five angel investment platforms in 2023, according to data collated by VCCircle.
