Australian traveltech startup Travello announced raising $5 million in a Series A funding round, while Bangladesh ride-hailing firm Shuttle secures $750,000 in its seed round.
Travello lands $5m Series A funding
Australian travel social network startup Travello has raised $5 million in a Series A funding round backed by Flight Centre co-founder Jim Goldburg, former Tourism Australia boss Andrew McEvoy, and former Virgin Australia’s Velocity program head Phil Gunter.
Travello, founded in 2015 by Ryan Hanly and Mark Cantoni, plans to use the fresh investment to drive further growth, banking on the foreseen travel demand from millennials post-pandemic.
The company operates a social network for travellers in over 180 countries. It connects like-minded travellers, while serving up recommendations on what to do and what to see in places near them.
Even as some countries around the world are still implementing strict COVID-19 protocols, Travello said it has already seen huge demand from the youth market. The platform currently has 1.2 million users.
Bangladesh mass-transit startup Shuttle secures $750K
Shuttle, a mass-transit startup based in Bangladesh, has secured $750,000 in a seed funding round anchored by Singapore-based early-stage venture investor Accelerating Asia.
The startup provides air-conditioned minivans that can accomodate 10-11 people, who want to commute together safely by paying less than a quarter of what ride-sharing cars charge.
It was set up in 2018 as a women-only transport service to solve a pressing issue in Bangladesh – the lack of safe transportation for women. Currently, the startup has more than 20,000 women registered in their platform for the “Shuttle for Women” service and has completed more than 1 million successful rides.
The funding round was also participated by Robi Axiata Limited, Impact Collective, and Bangladesh Angels Network, among others. The startup has a total addressable market of $7.5 billion in Bangladesh alone. It plans to expand its services to developing countries.