[Funding alert] Upswing Cognitive Hospitality Solutions raises $ 150K from Australian Framed Venture Capital
Bottom-up cognitive hospitality solutions, a Pune– start-up of new-age predictive data solutions for the hospitality and travel sector that provides its customers with cognitive solutions based on data, recently launched a series of $ 150,000 via foreign direct investment (FDI) of Supervised venture capital, an Australian private investment firm.
Through their partnership, Upswing and Framed will continue to develop and grow their relationship through the alignment and refinement of the technology roadmap, business strategy and regular assessment of financial performance against the profile of overall growth and forecast.
They aim to reorient the industry with data-driven platforms for the overall business goals of customers (hotel groups, hotels and other hospitality providers). To this end, they will also collaborate on various initiatives to advance more expertise in the sector. Framed believes that with Upswing’s scale, strong year-over-year revenue growth, and global penetration, it would be a prime candidate for an acquisition or investment in the industry or private equity in the future.
Discuss the agreement, Harshvardhan Amle, Founder, Upswing Cognitive Hospitality Solutions, mentionned,
âThe capital raised will help us expand overall product development, operations, technology and sales. The substantial impact of the Covid-19 pandemic on the domestic and international travel and hospitality industry further corroborates the need to pivot the industry’s current approach towards data-driven solutions, which is has proven to be useful for many organizations and industries around the world.
Conceptualized in 2018, Upswing is a start-up of new-age predictive data solutions for the hospitality and travel industry. Supported with AI and Blockchain, Upswing helps its customers (i.e. hotels and other hotel service providers) to anticipate the behavior of their customers, by managing, improving and providing operational key performance indicators.
The software platform enables hotel guests to enjoy their travel and stay experiences, and helps improve overall hotel efficiency by delivering personalized experiences. Upswing claims to provide cost-effective end-to-end solutions that cover all stages of a customer’s journey – from pre-stay to relocation, and from customer engagement to customer marketing.
Gerry Comninos, Director, Framed Venture Capital, mentionned,
âThe current pandemic has called for a serious understanding of anticipatory measures for every business, regardless of size. With Upswing’s streamlined solutions in the industry, we are extremely proud to work together to equip the global travel and hospitality industry with the knowledge and resources to respond in a dynamic, ever-changing and rapidly changing world, technology-driven.
âTheir ability to effectively use technology and artificial intelligence to enable hotel service providers to understand data trends, maximize results and positively influence their customers (guests) for the mutual benefit of the service provider hoteliers and guests will help generate solid returns, âGerry added.