Bangalore, April 2018: Bharathi Shetty, Founder and Managing Director, Frontier Holidays has made an undisclosed pre-series A investment in Foxtrot Interactive, a white labelled event app start-up targeted at the MICE Industry. The MICE app launched by Foxtrot in April last year allows for customisation and provides live and comprehensive data within minutes.
Speaking about investing in Foxtrot Interactive, Bharathi Shetty, Founder and Managing Director, Frontier Holidays said“Travel is about experiences. And our customers are some of the most digitally savvy travellers in the world, they look for highly personalised technology driven experiences on the go. Which is why we were looking to add an interactive solution that will help mobilise, simplify and streamline the entire process for our customers. App enables us to work with our clients closely share information real time which helps them save time and savour their experiences more. This MICE App is robust and has everything you need to engage your event attendees.
Unmesh Vaidya, Co-Founder, Foxtrot Interactive Pvt. Ltd says“Association with Bharathi is vindication of the hard work and commitment put in by the whole team at Foxtrot. Lot has happened in year 1, from proof of concept to 47 projects, 25 Corporate clients, Awarded for innovations, recognition by Department of Industrial Policy and Promotion. Every bit counts ! This is the stepping stone to bigger things that we wish to bring forward in synergising our Applications with the MICE industry.
“It is fantastic to have an investor who understands the trends and future of MICE industry, indeed a huge boost for us” says Naasir Merchant, Co-Founder, Foxtrot Interactive Pvt. Ltd.
MICE in India
India has emerged as one of the fastest growing outbound MICE markets in the world, it currently generates 1.5 million outbound travellers. The growth seen across, as successful corporates from all sectors are concentrating on and willing to spend extra amount on the travel and to host an event in a destination that offers state of the art facilities, new experience. Corporate India is looking for finest conferencing facilities which blending business with experience. This has made MICE travel distinguished and many travel experts are offering this as a separate entity.
Technology & MICE Synergy
The increasing number of smartphone and rising budgetary expenditure on events are the main drivers leading the growth in the MICE industry. While the industry itself is a mix of outdated methods and newer ways of working, Unmesh says corporates and other organisations are realising that to be relevant they need to be innovative and stay in sync with technological advancements.
With this investment Frontier Holidays is expecting a footprint in event management software (EMS) market. According to a report , the global EMS market is set to grow to $9.28 billion by 2020. While in India, this market is still at a very nascent stage, it is expected to catch up in the next couple of years.
About Frontier Holidays:
Founded in 1998 by a highly enterprising couple Bharathi Shetty and Senthivel, Frontier Holidays today stands out as one of the most trusted customized travel and tourism planning entity with its specialized focus on MICE in a nation which is the 7th largest tourism economy of the world. Headquartered at Bangalore, India, the company prides in its offering which unlike the conventional tourism companies consists of multiple itinerary options, suiting the needs of any type of traveller. Our unique MICEpackage stands out due to its pre-emptive operative style, excellent value adds, meticulous planning & execution, and continued R&D on host locations, resorts & properties