Early-Stage Travel Tech Startup Pinktada Raises Another Round to Accelerate Its Expansion
Hospitality and Web3 investors further invest $975,000 to transform hotel reservations with NFT and smart contract technologies
HOUSTON–(BUSINESS WIRE)–US-based Pinktada, a technology company transforming the way hotel reservations are made, announced the closing of additional investment to support its rapid expansion with the contracting of dozens of new hotel properties in key leisure destinations. The new sum of $975,000 includes participation from Selenean Capital, an Ireland-based fund, and of serial high net worth investors. They join backers True Global Ventures 4 Plus–which has invested $2M to date–and several members of the New York Angels investment group.
Launched in Q2 this year, Pinktada enables travelers to book a specific room, and swap or sell their reservation in an online marketplace if their plans change. In addition, they can immerse themselves in hotel rooms and amenities, increasing their enthusiasm and willingness to make a non-refundable reservation. Hotel partners enjoy guaranteed prepaid sales, additional revenue from upgrade and upsell features, and the powerful benefits of shared data. Furthermore, even if they are fully booked hotels can get additional revenue from secondary transactions that realize a profit.
“We are thrilled with the market validation we are receiving,” says Mark J. Gordon, Chief Hospitality Officer. “We launched in May with properties in Hawaii and the Dominican Republic, have since added exquisite hotels in Mexico, New York, Miami and San Francisco, and have another 18 in the process of being on-boarded. More important though is the caliber of our partners, which are leading hotel industry names.”
As a result of the increased supply of hotels on Pinktada, membership grew 20% in August and 40% in September 2022.
“Selenean Capital’s approach to partnership is identifying real world future needs and then working relentlessly to achieve those goals. Pinktada encapsulates this perfectly with a transformational approach to the hotel booking model built around a brilliant team. We look forward to the partnership and journey with them,” — says Davin Browne, Selenean’s CEO.
“We could not be more excited about our prospects,” says Lyon Hardgrave, Pinktada’s CEO. “This investment reflects the significant progress we have made this year. It will allow us to accelerate the onboarding of new hotels, dial up marketing efforts, and continue to evolve our technology to embrace other large opportunities.”
Pinktada is revolutionizing hotel booking by bringing the power of tokenization to the travel market. Guests can choose their perfect room by taking a virtual tour, and swap or sell their reservations if plans change. Hotels receive full payment up front and can show off their amenities and unique attributes. Pinktada was founded in 2020 and is headquartered in Houston, TX, with offices in New York and Pune.
About Selenean Capital
Selenean Capital Limited is a global private equity/venture capital fund headquartered in Dublin, Ireland. Selenean Capital’s strategic ambition is to build trusted networks and communities by solving real world problems through innovation. Our values are centered around our people, partners and customers with focus on trust and integrity. Doing the right thing is a fundamental part of our philosophy.
About True Global Ventures
True Global Ventures (TGV) is a global Venture Capital firm built by a group of serial entrepreneurs with a solid track record of investing their own money together with Limited Partners into ventures run by serial entrepreneurs. Portfolio companies leverage web3 technologies, incorporating blockchain as competitive advantages to drive change with proven products. TGV is a distributed fund with a presence in 20 cities, including Singapore, Hong Kong, Taipei, Dubai, Abu Dhabi, Stockholm, Paris, Luxembourg, Madrid, Warsaw, New York, San Francisco, and Vancouver. Visit us at www.tgv4plus.com, and follow us on LinkedIn and Twitter.
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