Tuesday February 27th, 2024
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UAE-Based Travel Tech Platform Tumodo Raies $35 Million Pre-Seed Round

With its new funds, Tumodo plans to expand its platform to 25 additional countries worldwide by 2026.

Startup Scene

UAE-based travel technology platform Tumodo has secured $35 million in a pre-seed funding round co-led by angel investors focused on the MENA region. Established in 2023, Tumodo specializes in providing an online business travel platform that facilitates easy booking of business trips for companies, resulting in an average savings of 35% on travel expenses.

With the newly acquired funds, the company aims to strengthen its presence in the UAE market, invest in product development, and explore new partnership opportunities in the MENA market. Tumodo plans to expand its platform to 25 additional countries worldwide by 2026.

The global business travel market, valued at $933 billion in 2022, is projected to reach pre-pandemic levels of $1.4 trillion by 2024, according to the Global Business Travel Association. Notably, the MENA business travel market is rebounding rapidly and has already achieved 86% of its 2019 levels in 2022.

"Tumodo is the future of business travel," Stan Klyuy, Chief Commercial Officer of Tumodo, tells StartupScene. "It is important for us to contribute to the MENA business travel market and make its recovery not only one of the fastest in the world but also to make this market the most technologically advanced. We help companies set up business processes and optimize the management of travel expenses, enhancing employee productivity and ensuring compliance with travel policies."

Tumodo distinguishes itself from competitors by offering a streamlined process for booking flights and hotels for large numbers of employees within two minutes. The platform is currently developing an AI feature to simplify trip organization.

Currently trusted by over 100 businesses in the MENA region, the company aims to achieve a 100% adoption rate, leveraging its extensive network with over 400 airlines and 2 million accommodation options globally.

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