Upswing Cognitive Hospitality Solutions, a new-age predictive data solutions startup for the hospitality and travel industry, that provides its customers with data-driven cognitive solutions, recently raised a seed round via Foreign Direct Investment from Framed Venture Capital – an Australian investment private company. Framed recognized the potential of Upswing and the benefit that its technological developments could bring to the hospitality industry with the development of automated and intuitive big data solutions.
Upswing raised 150,000 USD in a seed round with the investors. It is well accepted that the world has become addicted to technology and data, however, the hospitality industry has historically been a slow adopter of technology, particularly guest-facing technologies. The travel and hospitality sector is among the largest job providers in the country but has struggled with employment and economic losses during the Covid-19 pandemic. Framed invested in Upswing, sharing the vision of the founders, to strengthen the depth and breadth of its technology offering, and its positioning relative to competitors, and other service providers, in anticipation of the increased desire and need, of industry participants to adopt technology post the pandemic.
Discussing the agreement, Mr. Harshvardhan Amle, Founder, Upswing cognitive solutions said, ‘The investors have acknowledged our seamless business workings of software product developments at Upswing. We are overwhelmed to know that our investors believe in us, our passion for delivering the travel and hospitality industry the best & latest of the big data solutions. This capital raised will help us in scaling overall product development, operations, technology & sales. The current grave risk that the industry has been confronted with globally, has highlighted the urgent need for sweeping reforms to help them steer safely through these difficult times. The substantial impact of the Covid-19 pandemic on the domestic & international travel and hospitality industry further corroborates the need to pivot the sector’s current approach towards data-driven solutions, which has proven helpful for many organizations & industries across the world,
Gerry Comninos, Director, Framed Venture Capital, said, ‘The hospitality industry (and individual operators within the ecosystem) generates vast amounts of data. Industry participants are constantly seeking technology solutions, embracing the latest concepts and technologies, to help them stay ahead of competitors and consumer trends.The current pandemic has called for a serious understanding of anticipatory measures for every business, irrespective of their size.
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With Upswing’s simplified solutions in the sector, we are extremely proud to work together in empowering the global travel and hospitality sector with the knowledge and resources required to respond in the constantly evolving and fast-paced dynamic technology-driven world. Their ability to effectively engage technology and AI to allow hospitality providers to understand data trends, maximize outcomes, and positively influence their customers (the guests) for the mutual benefit of the hospitality provider and the guests will help in delivering strong returns.’
Through their partnership, UpSwing and Framed will continue to develop and grow their relationship through alignment and refinement of the technology roadmap, the business strategy, and regular assessment of financial performance relative to the overall growth profile and forecasts. They aim to reorient the sector with data-driven platforms for the overall business goals of the customers (hotel groups, hotels, and other hospitality providers). To this end, they will also collaborate on various initiatives to advance more expertise in the sector. Framed believes that with Upswing’s scale, strong year-on-year revenue growth, and global penetration, it would be a prime candidate for an industry or private equity acquisition or investment in the future.
Conceptualized in 2018, Upswing is a new-age predictive data solutions startup for the hospitality and travel industry. Backed with AI & Blockchain, Upswing helps its customers (i.e., hotels and other hospitality providers) anticipate their guests’ behavior, managing, enhancing, and delivering operational KPIs. The software platform allows hotel guests to enjoy unmatched travel and stay experiences and helps in enhancing the hotel’s overall efficiency in providing personalized experiences. Upswing provides end-to-end cost-effective solutions that cover all stages of a guest’s journey from pre-stay to re-stay, and from guest engagement to guest marketing.
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