Aditya Hadi Pratama · · 1 min readTGV-backed blockchain travel startup secures $350k in additional funding
Pinktada, a blockchain-based travel startup, has raised US$365,000 in its latest funding round. The amount comes on top of the US$975,000 it raised last month.
In total, the firm has bagged over US$1.3 million for the round, which has seen participation from Hong Kong-based investment firm Mandra Capital and Ireland-based fund Selenean Capital, among others.
Pinktada’s initial target was US$1.2 million.
Photo credit: Pinktada
Launched in May this year, Pinktada allows users to book hotel rooms through its app, similar to other online travel platforms. However, if users have a change of plans, they can swap or sell the reservation to other people in a marketplace through the process of tokenization.
In a statement, the firm said that its member count had grown 40x since March this year, as more hotels are now available on the platform.
Pinktada was established in 2020 by serial entrepreneurs Ronald Homsy and Lyon Hardgrave. It currently has properties in Hawaii, Mexico, New York, Miami, San Francisco, and the Dominican Republic.
Investors in the company include True Global Ventures 4 Plus (TGV), which has poured a total of US$2 million into the startup. Pinktada plans to use the fresh funding for hotel onboarding, marketing, and product development purposes.
See also: The unique blockchain fund with 40+ partners, including PropertyGuru and Zopim founders
Editing by Miguel Cordon and Jaclyn Tiu
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