Travel startup Tripoto clocked a loss of approximately 11 Cr as the company managed to control its expanses while revenue increased only marginally. As per the regulatory filings accessed by Techpluto, Tripoto earned roughly revenue of 11 Cr in FY20 as compared to INR 9 Cr it earned in FY19.
As for the expenses, the Delhi based startup’s expenses in FY20 stood at INR 22 Cr as compared to INR 16 Cr it had incurred in the last financial year.
Although Tripoto is not involved in aggregating hotel rooms or booking hotels, its financial performance can be described as pretty decent in the wake of COVID-19 lockdown.
The startup is an online community platform for travel bloggers. The company calls itself as the world’s largest community of travel bloggers where bloggers can discover and share itineraries, travel stories, location information, hidden travel destinations and many more things.
The startup was founded by Anirudh Gupta and Michael Lyngdoh with an aim to revolutionize the way people traveled. The startup was founded in 2013.
It must be noted that Tripoto had raised INR 25 Cr from Orchid India and other existing investors last years. This was a series B funding round. The company counts high profile investors like Chiratae Venture, 3one4 Capital and Lasmer NV.
At the time of raising funds, Tripoto co-founder and CEO Anirudha Gupta said “our aim is to Scale B2B and B2C side of the platform. On the consumer front, we want to capture the entire life-cycle of a traveller – everything from getting inspired, discovering, planning and finally, carrying out the transaction.”
Tripoto is obviously not the only player that is trying to bring travel bloggers together. There are quite a few players in this space and space is witnessing quite an intense competition.