Funding & Investment in Travel
Gurugram-Based Spyne Secures $16 Million in Series A Funding to Expand U.S. Operations
Spyne, a deep tech startup based in Gurugram, has raised $16 million in a Series A funding round led by Vertex Ventures. Over the next few years, the company will expand from 1,500 to over 20,000 dealer rooftops in the U.S. Existing investors Accel, Storm Ventures, and Alteria Capital participated in this round.
In his LinkedIn post, co-founder and CEO Sanjay Varnwal highlighted the company’s evolution from a visual merchandising platform to a comprehensive automotive retail solution powered by GenAI.
Spyne has demonstrated consistent performance with a substantial revenue figure of $18.4 million. “We’ve seen a 5X surge in revenue in the last 15 months, and we’re aiming for a 3-4X revenue leap this year,” Varnwal mentioned further.
This comes after the Indian government announced the Deep Tech Fund of Funds to catalyse the next generation of Indian startups.
The company plans to develop a GenAI-powered unified automotive retail solution that will streamline the retail journey for dealerships. Varnwal stated, “This investment marks a pivotal moment for Spyne as we accelerate our U.S. expansion and push the boundaries of what AI can do for automotive retail.”
The new capital will enable Spyne to build a dedicated U.S. business development team and strengthen its presence in high-growth regions across EMEA and APAC, the company said.
Piyush Kharbanda, general partner at Vertex Ventures, noted that Spyne addresses fundamental pain points for auto dealerships by leveraging AI to optimise vehicle merchandising.
In the past month, many deep tech startups have backed funding for their operations. Bengaluru-based Dynolt Technologies bagged $1.7 million in its seed funding round, led by Transition VC, with participation from marquee angel investor Yashowardhan Shah.
Additionally, Astrome Technologies secured $10 million in a funding round led by Apollo Fund, with additional investments from the IAN Group.
Funding & Investment in Travel
Pattaya adapts to welcoming Indians and Westerners, while hoping for Chinese tourism’s return
PATTAYA, Thailand — As Thailand continues promoting its “Welcome All” tourism revival campaign, some foreign visitors in Pattaya are quietly wondering: What happens if the Chinese return — and what if they don’t?
Strolling along Jomtien Beach or lounging in bars on Soi Buakhao, it’s not uncommon to hear debates about whether Pattaya’s fortunes still hinge on mass Chinese tourism, or if the city has already moved on.
“They’ll be back,” said one longtime European retiree. “Just as soon as they realize there’s nothing to do in Vietnam or elsewhere.”
But not everyone agrees. “No one really cares about Chinese tourists,” one tourist bluntly claimed. “They’ve never been big spenders and will never be. Get more Westerners — they’re the real big spenders.”
It’s a sentiment echoed by others who say Western retirees are the real financial engine behind Pattaya’s nightlife and hospitality industries. “Retirees can spend 10,000 baht a night,” said a bar owner. “Chinese groups come, take pictures, and maybe spend much less than that as per person.”
However, some locals are less certain. “Indians have taken over,” one Pattaya shopkeeper shrugged. “Chinese aren’t too keen on coming here now.”
But another argued, “Maybe you haven’t seen the Chinese eat and spend — they do it easily here, especially in restaurants and shopping malls.”
Yet despite the critiques, businesses haven’t given up on the return of Chinese mass tourism. Many remember the packed tour buses and back-to-back bookings before the pandemic. “Obviously, you haven’t seen nothing yet,” said a Thai tour guide, optimistic about a comeback.
The Tourism Authority of Thailand (TAT) is working hard, busting their whole office to make the return happen sooner or later — arranging chartered flights, fast lanes at airports, elevated safety measures, and AI-aided security to welcome visitors back smoothly and confidently.
Others remain skeptical — comparing hopes for the Chinese revival to the long-dashed expectations of Japanese tourist rebounds after the 1991 economic crash. “They are the same people who awaited the revival in the number of Japanese tourists,” one expat remarked dryly.
For now, Pattaya waits — balancing its hopes on a mix of returning Chinese visitors, Indian family tours, and Western retirees. One thing is clear: no one group will carry the city forward alone.
Funding & Investment in Travel
Typhoon Wipha causes travel chaos as hundreds of flights canceled in Hong Kong
HONG KONG, July 20 — Hong Kong issued its third-highest tropical cyclone warning in the early hours of Sunday as Typhoon Wipha drew nearer, with authorities cancelling classes and grounding hundreds of flights.
Wipha was located around 280 kilometres southeast of Hong Kong as of midnight (1600 GMT), according to Hong Kong’s weather observatory.
The observatory has hoisted the T8 warning signal, meaning that “winds with mean speeds of 63 kilometres per hour or more are expected”.
The storm was expected to keep intensifying, moving across the northern part of the South China Sea and edging closer to the coast of China’s Guangdong province.
“There will be frequent heavy squally showers and thunderstorms over the region. Seas will be high with swells,” the observatory added.
China’s Hainan and Guangdong provinces were also put on high alert, state news agency Xinhua reported Saturday.
More than 250 flights servicing Hong Kong had been cancelled as of late Saturday, according to the website of the city’s international airport.
Hong Kong’s Airport Authority asked travellers to prepare for “significant flight cancellations or delays” and said that no passenger flights are expected to depart the city before Sunday noon.
Authorities suspended Sunday’s classes at all day schools and daycare centres.
Bus services are expected to be halted until midday Sunday.
Wipha brought heavy rains and flooding to the Philippines and two people have been reported missing, according to the country’s National Disaster Risk Reduction and Management Council. — AFP
Funding & Investment in Travel
Tourist boat capsizes during a storm in Vietnam, leaving 34 dead. 8 remain missing
… , Vietnam — (AP) — A boat carrying tourists capsized during a sudden thunderstorm … most of the passengers were tourists, from Hanoi, including about 20 …
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