Adventure travel startup, Deyor Camps has raised a pre-series A funding lead by Venture Catalysts and other investors including Dr. Ritesh Malik, Japanese VC firm REAPRA Ventures and existing investor Dheeraj Jain.
Deyor Camps, had earlier been chosen for strategic investment by Naspers-backed Travel Boutique Online (TBO), the largest B2B platform for travel agents, which allows it access to a network of more than 20,000 travel agents.
Adventure travel sector have bloomed in India has witnessed a surge in demand. In light of this, several startups have emerged offering various services and experiences to set themselves up as leaders in the segment. Deyor Camps, founded by Chirag Gupta, Aakaar Gandhi, Himashu Aggarwal, and Gautam Yadav, is in a segment which is estimated to be worth INR 3200 crore and is growing at a CAGR of 45%. According to Venture Catalysts, the Gurgaon-based travel startup has managed to address ‘the most painful challenge’ on the supply side by creating a robust distribution channel as well as through strong OTA integrations and networking.
Dr.Apoorv Ranjan Sharma, Co-founder & President, Venture Catalysts adds, “Having invested in this high-potential venture, we will now be eagerly tracking its market growth and supporting its operations with our specialised start-up focussed services.”
Deyor Camps will utilise the funds raised to strengthen its core marketing activity, team building, and technology integration. It will also be developing quality content, in addition to enhancing its core expertise of creating thrilling experiences for adventure travelers. To raise investments for this round, the brand has diluted 5% of their equity. They are hoping that with the investors on-board they will be able to achieve greater growth and scale in the days to come.
Chirag Gupta, Co-founder & CEO, Deyor Camps, commented, “The latest investment gives us the resources to expand quickly and strategically into new locations, innovate rapidly, and deliver on our vision to organize the fragmented adventure travel sector in India.”
“Deyor Camps envisions inspiring young people to travel and experience the depth and breadth of India through camping. We think this is an admirable vision and we see this being backed up with a solid business model,” says Vikram Bharati, Head of Investments at REAPRA Ventures.
Ankush Nijhawan, CO- Founder, TBO Group, who also participated in the investment round did so with the belief that Deyor Camps’ journey will “compliment TBO travel portfolio” and distribute adventure travel to their travel agent network.
Deyor Camps has witnessed aggressive expansion since its inception and has 600 alternative accommodation sites and 1000 adventure activity options spread across 70 locations in India. They are looking to first consolidate the fragmented market in India and then plans on expanding in South East Asia and South and East Africa by 2018.