QuaQua funding: raises 1 million dollars
The Hyderabad based startup QuaQua raises 1 million dollars from Anthill Ventures and other existing investors. The company is planning to use the funds to enrich their user experience and build an end-to-end AI- and content-driven travel platform.
The founder of QuaQua Purav Shah, says “While virtual travel is becoming the norm, short trips and staycations will drive demand in the domestic circuit. Our focus for this year will be on India specific virtual content and personalized booking experiences. The travel industry needs to evolve and there has never been a more appropriate time to recreate the future.”
Founded in 2016 by Purav Shah and Sandesh Reddy with an aim to build a virtual travel platform with a 360-degree view. The company creates VR enabled travel stories with every point of map providing information, travel options, resources, and travel advisors. It also provides a platform for businesses to advertise and promote their product and services. The company claims to have users from 100 countries and over 2.5 million user base. Post the COVID-19 situation, the company has gained audience traction as the repeat customers are close to 70 percent.
The founder & CEO of StartupLanes, Shishir Gupta says in our busy schedule we generally don’t get time to travel or sometimes before traveling to any city it is very important for us to do some homework; to understand about the city and its main attractions. I personally like the QuaQua concept as it is giving a 360-degree view of a particular place with all the necessary information which helps travelers to understand the place and its offerings. Congratulations to the team. Keep growing and keep sharing more virtual content covering more places and cities.
In 2017, the global augmented reality and virtual reality market size stood at USD 11.35 Billion, and the industry is forecasted to reach USD 571.42 Billion by 2025, rising at a CAGR of 63.3 percent between 2018 and 2025.