SAIF partners invest $ 1.5 million in Airblack

NEW DELHI: SAIF Partners Tuesday said it has invested 1.5 million (approximately Rs 10.45 crore) in the creation of a travel social trade Black air . The round of seeds will be used to launch its consumer product, increase its community of travelers and hire a central team, said a statement.

Initiated in February of this year by Pulkit Pujara and Videt Jaiswal, the city's company takes advantage Whatsapp & Instagram ecosystem to connect people with verified network of power travellers & travel influencers.

The platform has already helped more than 1,000 travelers with their travel plans, he added.

SAIF Partners, which manages over USD 4 billion in assets across India & China, has earlier backed Paytm, MakeMyTrip , Meesho, ShareChat, Swiggy & Urbanclap at an early-stage. SAIF has also invested in other travel startups such as Treebo & Travel Triangle.

More than USD 600 billion are spent on international travel in Asia, & we see India's international travel market at an inflection point already...We were impressed by the ( Black air ) team's unique insights & community-driven approach to cater to this traveller," SAIF Partners Principal Mayank Khanduja said.

The company saw a strong social need for people to talk with other travellers before taking purchase decisions, Videt Jaiswal, co-founder at Black air said.

We are focused on creating a strong layer of confidence in this category, he added.

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