Early-stage travel tech startup Pinktada over-subscribed in latest funding round to accelerate expansion
Pinktada attracts $1,340,000 investment from Web3 and Hospitality professionals to transform hotel reservations with NFT and smart contract technologies
Funding, Venture Capital, Hospitality, Travel Industry
Pinktada attracts $1,340,000 investment from Web3 and Hospitality professionals to transform hotel reservations with NFT and smart contract technologies
Funding, Venture Capital, Hospitality, Travel Industry
November 17, 2022
US-based Pinktada, a technology company transforming the way hotel reservations are made, announced the over-subscription and closure of their latest fund raising round to support its rapid expansion with the contracting of dozens of new hotel properties in key leisure destinations. Having initially raised $975,000 Pinktada has now closed this round oversubscribed at $1,340,000 (versus initial target $1,200,000) including participation from Mandra Capital, a Hong Kong based investment holding company focused on early-stage opportunities in IT, technologies and life science and Selenean Capital, a global private equity/venture capital fund headquartered in Ireland as well as a number of serial high net worth investors. They join backers True Global Ventures 4 Plus–which has invested $2M to date–and several members of the New York Angels investment group.
Pinktada is an early-stage travel tech start up launched in Q2 this year with the aim of enabling travelers to swap or trade non-refundable hotel bookings on Pinktada’s marketplace. Using immersive 3-D technology the online booking experience is enhanced resulting in a higher level of room and feature upsell for the hotelier. In addition, as each room night reservation is tokenized the hotelier earns recurring revenue each time the reservation is resold.
As a result of the increased supply of hotels on Pinktada, membership has grown 40x since March 2022 and continues to grow exponentially month on month.
"We are always looking out for innovative user cases in Web3 and using their technology in new industries. Pinktada is our first foray into a new vertical -- travel and hospitality, which holds a promising user case, within Web3.'' commented Zhang Song Yi, Co-founder and Chairman of Mandra Capital.
Pearce Clune, General Partner of TGV4+ says: "We are happy that these funds will benefit Pinktada product offering and distribution capability and believe there are major opportunities to explore in the house swap market as well as the hotel / events space looking specifically at a B2B2C model."
US-based Pinktada, a technology company transforming the way hotel reservations are made, announced the over-subscription and closure of their latest fund raising round to support its rapid expansion with the contracting of dozens of new hotel properties in key leisure destinations. Having initially raised $975,000 Pinktada has now closed this round oversubscribed at $1,340,000 (versus initial target $1,200,000) including participation from Mandra Capital, a Hong Kong based investment holding company focused on early-stage opportunities in IT, technologies and life science and Selenean Capital, a global private equity/venture capital fund headquartered in Ireland as well as a number of serial high net worth investors. They join backers True Global Ventures 4 Plus–which has invested $2M to date–and several members of the New York Angels investment group.
Pinktada is an early-stage travel tech start up launched in Q2 this year with the aim of enabling travelers to swap or trade non-refundable hotel bookings on Pinktada’s marketplace. Using immersive 3-D technology the online booking experience is enhanced resulting in a higher level of room and feature upsell for the hotelier. In addition, as each room night reservation is tokenized the hotelier earns recurring revenue each time the reservation is resold.
As a result of the increased supply of hotels on Pinktada, membership has grown 40x since March 2022 and continues to grow exponentially month on month.
"We are always looking out for innovative user cases in Web3 and using their technology in new industries. Pinktada is our first foray into a new vertical -- travel and hospitality, which holds a promising user case, within Web3.'' commented Zhang Song Yi, Co-founder and Chairman of Mandra Capital.
Pearce Clune, General Partner of TGV4+ says: "We are happy that these funds will benefit Pinktada product offering and distribution capability and believe there are major opportunities to explore in the house swap market as well as the hotel / events space looking specifically at a B2B2C model."
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About PinktadaPinktada is revolutionizing hotel booking by bringing the power of tokenization to the travel market. Guests can choose their perfect room by taking a virtual tour, and swap or sell their reservations if plans change. Hotels receive full payment up front and can show off their amenities and unique attributes. Pinktada was founded in 2020 and is headquartered in Houston, TX, with offices in New York, and Pune.
Media inquiries: [email protected]
About True Global VenturesTrue Global Ventures (TGV) is a global Venture Capital firm built by a group of serial entrepreneurs with a solid track record of investing their own money together with Limited Partners into ventures run by serial entrepreneurs. Portfolio companies leverage web3 technologies, incorporating blockchain as competitive advantages to drive change with proven products. TGV is a distributed fund with a presence in 20 cities, including Singapore, Hong Kong, Taipei, Dubai, Abu Dhabi, Stockholm, Paris, Luxembourg, Madrid, Warsaw, New York, San Francisco, and Vancouver. Visit us at www.tgv4plus.com, and follow us on LinkedIn and Twitter.
Media inquiries: [email protected]
Media inquiries: [email protected]
About True Global VenturesTrue Global Ventures (TGV) is a global Venture Capital firm built by a group of serial entrepreneurs with a solid track record of investing their own money together with Limited Partners into ventures run by serial entrepreneurs. Portfolio companies leverage web3 technologies, incorporating blockchain as competitive advantages to drive change with proven products. TGV is a distributed fund with a presence in 20 cities, including Singapore, Hong Kong, Taipei, Dubai, Abu Dhabi, Stockholm, Paris, Luxembourg, Madrid, Warsaw, New York, San Francisco, and Vancouver. Visit us at www.tgv4plus.com, and follow us on LinkedIn and Twitter.
Media inquiries: [email protected]