The online travel technology company GoZayaan, which started in Bangladesh and now operates in Pakistan, is said to have raised a fresh round of funding at an undisclosed valuation.
A recent addition of $4.6 million in funding has been made to its Crunchbase profile.
The startup's total funding now stands at $8.1 million, up from its previous funding of $3.5 million.
According to Future Startup, “The simple deduction suggests the company raised an additional $4.6m dollar in funding.”
According to Future Startup, GoZayaan has also recently engaged in a frenzy of new activities. The company's Linkedin profile shows active ongoing hiring across divisions, demonstrating both expansion and strength.
Sources claim that the business has hired a number of senior-level employees for upcoming projects.
The corporation or its representatives have yet to publicly acknowledge the news, though.
Since the beginning of the year, GoZayaan has been making waves in the Bangladeshi startup industry. In February of this year, it acquired the Pakistani online travel marketplace FindMyAdventure, becoming the first Bangladeshi travel company to cross international borders.
According to industry sources, the fresh round of funding indicates the strength of GoZayaan's operations and that investors continue to find Bangladesh's market to be appealing.
GoZayaan had recently added features like online flight bookings and international hotels and trips which also indicated the company's growth in recent times.
Headquartered in Singapore, the startup currently offers booking and purchase of domestic and international flight tickets, international and domestic hotels for every budget and preference, as well as local and international tours from its platform.
Industry insiders also pointed out, with the current global scene in the world of startups being not promising, the news about GoZayaan funding, if true, is a good sign for both Bangladesh and Pakistani startup sectors.
The investment speaks volumes for the local start-up sector as it was raised during the ongoing global economic downturn with venture capital firms (VC) cutting down on investment from the beginning of the second quarter of 2022.
According to Crunchbase, VC funding globally fell dramatically, slowing down in the second quarter of 2022, as investors shied away from later-stage funding bets.
Global early-stage funding totalled only $34 billion in the third quarter of 2022, a decline of 25% quarter over quarter and 39% year over year.