EaseMyTrip shares will be closely watched when the Indian stock market opens on Monday since the tour operator has invested in Etrav Tech Ltd., a Mumbai-based business. The tour and travel firm has invested $3.9 million, or ₹33 crore, in the Mumbai-based company, according to a press release released by Etrav Tech Ltd. EaseMyTrip will be able to take advantage of the national network of the B2B travel agent company thanks to the capital infusion.
Etrav Tech Secures $3.9 Million Funding Led by EaseMyTrip for Rapid Expansion
“Etrav Tech Ltd., headquartered in Mumbai, has recently secured a significant investment of $3.9 Mn (INR 33 Cr) in its second round of funding, led by EaseMyTrip,” Etrav Tech said in a statement announcing the capital infusion by the company. This calculated capital inflow, led by EaseMyTrip, is a turning point for Etrav Tech, paving the way for rapid expansion and innovation.”
Etrav Tech offers a wide range of travel services, including airline tickets, hotel reservations, vacation packages, visa assistance, travel insurance, vehicle rentals, and bus tickets. The company specializes in offering complete travel services to B2B travel agents across the country. With a strong customer base that includes more than 40,000 travel agents, 600 distributors, and 700 API/white label clients, the company’s primary source of income is the sale of airline tickets.
Also Read: Kieron Pollard and Tim David fined by the BCCI for violating “IPL Code of Conduct”
EaseMyTrip’s Share Performance
“Etrav Tech’s aggressive expansion plans will be greatly aided by the wise use of the $3.9 million investment. By making investments in state-of-the-art technology infrastructure, the company hopes to improve its technological capabilities and improve the user experience for its clients while streamlining processes. In order to better meet the changing needs of its customer base, it also intends to expand the variety of products it offers. In addition, after recently acquiring UAE-based Eagle Crest DMC, Etrav Tech plans to bolster its position in important international markets, such as Thailand, Bali, and Vietnam,” the business-to-business travel agency stated.
The share price of EaseMyTrip ended the week at ₹43.90, approximately 19% higher than its 52-week low of ₹37 and almost 19% lower than its 52-week high of ₹54. Therefore, the current share price of EaseMyTrip is halfway between its 52-week high and low.
