Tumodo, a Dubai-based enterprise journey platform, on Thursday introduced the profitable closing of a $35 million pre-seed financing spherical co-led by angel buyers with a give attention to the Center East and North Africa (MENA) area.
In a press release, Tumodo stated the brand new capital injection will play an essential function in increasing its footprint within the United Arab Emirates (UAE) market, advancing product improvement and exploring new collaboration alternatives throughout the MENA market.
Moreover, the corporate has set an bold objective to increase its platform to 25 extra international locations worldwide by 2026.
Citing knowledge from the International Enterprise Journey Affiliation, Tumodo highlighted that the worldwide enterprise journey market reached a valuation of $933 billion in 2022 and is anticipated to get well to pre-pandemic ranges, reaching $1.4 trillion by 2024.
The corporate highlighted the MENA area’s fast restoration within the enterprise journey market, revealing that it had already reached 86 % of 2019 ranges by 2022.
“Tumodo represents the way forward for enterprise journey. Our objective is to not solely contribute to creating the MENA enterprise journey market one of many quickest recovering on the planet, but additionally to place it as essentially the most technologically superior,” stated Stan Klyuy, Chief Industrial Officer of Tumodo.
Based in 2023, Tumodo capabilities as a web based enterprise journey platform (B2B journey platform), leveraging knowledge science, trendy design and service-oriented options for enterprise journey.
The platform goals to streamline the method of reserving enterprise journey, leading to a median financial savings of 35 % on journey prices for corporations.
At the moment, Tumodo serves greater than 100 corporations within the MENA area, has established connections with main distribution channels and international resort chains, and companions with greater than 400 airways worldwide.
The platform supplies clients with entry to greater than 2 million lodging choices and integrates with major journey providers worldwide.
With an emphasis on cutting-edge expertise and a customer-centric strategy, Tumodo goals to turn into the main enterprise journey platform within the MENA area, aiming for a 100% adoption charge.
The corporate’s assist heart specialists can be found to assist arrange journeys and choose choices.
Tumodo cited the World Journey & Tourism Council, noting that even in the course of the pandemic years, spending on enterprise journey exceeded that on leisure journey.
The corporate highlighted the expansion of the enterprise journey market, which can exceed leisure journey development by 1 to 10 % in 2021-2022, with the Center East market experiencing a big distinction of 15 %.
Tumodo emphasised its willingness to modernize and streamline the journey group course of to contribute to the expansion of the market.
Utilizing progressive expertise, the platform permits corporations to effectively guide flights and motels for a whole lot of workers in simply two minutes.
Tumodo significantly stands out by guaranteeing transparency with out hidden prices, simplifying expense administration for corporations.
Moreover, the corporate revealed the continuing improvement of a synthetic intelligence (AI) characteristic designed to simplify the journey group course of.
Tumodo additionally plans to combine its expertise into corporations’ HR methods to enhance inside course of administration.
Hong KongOneDegree receives financing from Dubai Insurance coverage; launches digital asset insurance coverage partnership
