{"id":14802,"date":"2024-01-18T12:24:04","date_gmt":"2024-01-18T09:24:04","guid":{"rendered":"https:\/\/entarabi.com\/?p=14802"},"modified":"2024-01-18T12:26:54","modified_gmt":"2024-01-18T09:26:54","slug":"tomodo-raises-35-million-in-a-pre-seed-investment-round-to-develop-its-tourism-products","status":"publish","type":"post","link":"https:\/\/entarabi.com\/en\/2024\/01\/tomodo-raises-35-million-in-a-pre-seed-investment-round-to-develop-its-tourism-products\/","title":{"rendered":"Tomodo raises $35 million in a pre-seed investment round to develop its tourism products"},"content":{"rendered":"
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The Emirati business travel platform “Tumodo” has raised approximately $35 million in a pre-seed funding round, with participation from angel investors interested in the Middle East and North Africa region.<\/p>\n

This funding round aims to strengthen Tumodo’s presence in the UAE market, support the development of additional products, and explore new partnership opportunities in the regional market.<\/p>\n

The company plans to expand its platform to 25 more countries worldwide by 2026, seeking to achieve an adoption rate of around 100%, according to the statement released on Thursday.<\/p>\n

Tumodo’s application facilitates transparent expense management for companies without hidden fees, making it easy for hundreds of employees to book flights and hotels within two minutes.<\/p>\n

Stan Kley, the Commercial Director at Tumodo, stated that the company’s approach reduces business travel costs for clients by an average of 35%.<\/p>\n

The platform is working on developing an artificial intelligence-powered feature to streamline trip organization, which can be integrated into companies’ human resources systems to facilitate internal operations management.<\/p>\n

Tumodo has gained the trust of over 100 companies in the Middle East and North Africa region, collaborating with more than 400 airlines worldwide and providing customers with over 2 million accommodation options.<\/p>\n

Regarding the business travel market, global spending reached about $933 billion in 2022, representing 65% of business travel spending before the COVID-19 pandemic, which amounted to $1.4 trillion, according to the Global Business Travel Association.<\/p>\n

However, it is expected that the region will return to pre-pandemic business travel spending levels by 2024. The business travel market in the Middle East and North Africa is witnessing a rapid recovery, reaching 86% of its 2019 levels in 2022.<\/p>\n

On average, the growth of the business travel market exceeded the leisure travel market growth by 1-10% in the period 2021-2022, according to research conducted by the World Travel and Tourism Council.<\/p>\n

In December, the Gulf Cooperation Council approved the Unified Gulf Tourist Visa to facilitate travel across member countries with a single visa, enhancing the region as an easily accessible tourist destination.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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The Emirati business travel platform “Tumodo” has raised approximately $35 million in a pre-seed funding round, with participation from angel investors interested in the Middle East and North Africa region.<\/p>\n","protected":false},"author":11,"featured_media":14800,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"post_subtitle":"","footnotes":""},"categories":[1772],"tags":[3008,3007],"class_list":["post-14802","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startups","tag-stan-kley","tag-tumodo"],"_links":{"self":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/14802","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/comments?post=14802"}],"version-history":[{"count":0,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/14802\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media\/14800"}],"wp:attachment":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media?parent=14802"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/categories?post=14802"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/tags?post=14802"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}