Ziptrrip Secures INR 2 Crore in Pre-Seed Funding, Achieves Q4 FY24 Profitability

Mumbai, 13th August 2024: Ziptrrip, the innovative AI-powered corporate travel and expense management platform, has successfully closed its pre-seed funding round, raising INR 2 Crore from a clutch of prominent angel investors and industry leaders, including Anil K Jha (ex-Coal India Chairman & ex-Jindal Power Ltd. Chairman & Board of director), Prantik Dasgupta (Country Head – Coeclerici & a seasoned angel investor) and others. This inaugural funding round marks a remarkable milestone for Ziptrrip, setting the stage for accelerated growth and expansion in the rapidly evolving corporate travel sector. The newly acquired capital will be strategically allocated to fuel Ziptrrip’s ambitious plans for market expansion, enhance its team-building efforts, and drive continuous product innovation.

With a proven product-market fit and demonstrable traction, Ziptrrip is well-positioned to revolutionize the corporate travel landscape by offering a comprehensive end-to-end solution that seamlessly integrates travel bookings and expense management. Ziptrrip achieved early profitability through rigorous cost management and a tech-first approach, ensuring exceptional value delivery to corporate clients.

Ziptrrip distinguishes itself in the market with its holistic platform that ensures unparalleled convenience for employees while simultaneously enhancing transparency and decision-making capabilities for corporations. Ziptrrip empowers businesses to efficiently manage both travel and expenses within a single, unified interface. This innovative approach guarantees zero cost leakage and promises a minimum of 30% savings on travel expenses. At the heart of Ziptrrip’s competitive edge lies its innovative utilization of artificial intelligence and an industry-first low-code/no-code backend. This unique feature allows corporations to tailor the platform to their specific requirements without incurring additional costs.

Behind this visionary venture stands a leadership team with a proven track record of innovation and entrepreneurship. Ziptrrip was founded by Shan Prabhakaran, Co-founder & CEO, who brings over 10 years of cross-industry experience in business development, strategy, project management, and channel sales management. He has worked across sectors like Agri-tech, e-commerce logistics, and automotive and is a founding member of SmartShift by Mahindra.

Complementing his expertise is another co-founder Rishabh Agarwal, a seasoned business practitioner with over 15 years of experience in strategy and execution across sectors like mobility, Agri-tech, automotive, and power.

On the fundraiser, Mr. Shan Prabhakaran, Co-founder and CEO of Ziptrrip, affirmed “This pre-seed funding represents a significant vote of confidence in our vision and the tireless efforts of our dedicated team. The investment will serve as a catalyst, enabling us to accelerate our growth trajectory, further enhance our AI capabilities, and continue delivering unparalleled value to our corporate clients. Our mission is to fundamentally transform corporate travel management by providing a solution that not only generates substantial cost savings but also dramatically improves efficiency and compliance across all aspects of business travel.”

Mr. Rishabh Agarwal, Co-founder of Ziptrrip added “This investment is just the beginning. We’re looking forward to forging new partnerships, expanding our talented team, and continuing to push the envelope of what’s possible in travel tech. The future of corporate travel is here, and Ziptrrip is leading the charge.”

Prantik Dasgupta, the seasoned investor, expressed strong confidence in Ziptrrip’s potential starting, “I was thoroughly impressed by Ziptrrip’s innovative approach to addressing the complexities of corporate travel management. The team’s deep industry expertise, combined with their cutting-edge technology, positions them uniquely in a market ripe for disruption.”

Since the launch of its product, Ziptrrip has experienced rapid adoption, forging partnerships with over 250+ corporate clients, including several industry leaders. In a remarkable testament to its business model and execution capabilities, Ziptrrip achieved break-even in January 2024 and has maintained profitability since then.

With this new infusion of capital, Ziptrrip is well-positioned to expand its market presence, enhance its technological capabilities, and continue delivering cutting-edge solutions to the corporate travel industry.