Houston-based travel tech startup raises nearly $1M to continue expansion

By TIN Media | Technology Published 1 month ago on 20 October 2022
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MALAYSIA:

A travel technology firm that aims to reduce some of the strains associated with discovering and booking hotel accommodations has secured further preliminary funding.

Pinktada, a company based in Houston, has raised an extra $975,000. Selenean Capital, based in Ireland, joined the company's prior investor True Global Ventures 4 Plus, who had already committed $2 million, in the round of seed funding. Crunchbase data show that the most recent investment increased the company's total to $3.9 million.

According to a news release from Davin Browne, CEO of Selenean Capital, "Selenean Capital's approach to collaboration is recognizing real-world future needs and then working relentlessly to realize those goals." "Pinktada effectively embodies this with a transformational strategy to the hotel booking business centered on an outstanding staff. We are eager to collaborate and travel with them.

Pinktada was established in 2020, and earlier this year company introduced its booking platform. Users can sell or swap their current hotel reservations thanks to the technology, which is protected by NFT encryption. Pinktada offers customers a safe substitute if their plans change, while many hotels and independent booking websites provide more affordable non-refundable booking options. According to the company's statement, the transactions can also be advantageous for the company's hotel partners.

According to the press announcement, chief hospitality officer Mark J. Gordon is "thrilled with the market validation we are receiving." "We began operations in May with properties in Hawaii and the Dominican Republic, and since then, we've added luxurious hotels in Mexico, New York, Miami, and San Francisco. Another 18 properties are currently being added to the system. The quality of our partners, who are well-known figures in the hotel industry, is more significant.

The site introduced new hotel partners in September, which led to a 40 percent increase in membership, according to the business.

According to Lyon Hardgrave, CEO of Pinktada, "We could not be more pleased about our possibilities." The considerable advancements we have made this year are reflected in this investment. We will be able to increase marketing activities, speed up the onboarding of new hotels, and keep developing our technology to take advantage of new, significant prospects.


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