Online marketplace for custom tour packages Travel Triangle has raised $8 million funding led by Bessemer Venture Partners, with participation from existing investor SAIF Partners, reports ET Tech. The funds will be used for product developments, adding travel packages from more destinations and hiring. Previously, Travel Triangle had secured Rs10 crore funding from SAIF Partners in July last year.
TravelTriangle was founded in 2010 as a marketplace for travel agents who can create online customized tour packages for travellers. The website also enables customers to connect with travel agents anywhere, get tour quotations, customize the trip according to their preferences and book the plan directly.
Online travel planning portals on a high
Carrying on from last year, 2015 has been a great year so far for online travel planning portals. Even though online travel agents like MakeMyTrip, Cleartip and Yatra among others continue to command the lion’s share of revenue generated in the online travel segment, there has been no dearth of funding and acquisitions in the online travel planning space.
– Travel community startup Tripoto raised funding worth Rs 12.5 crores led by IDG Ventures, with participation from Outbox Ventures, in March. The startup had also raised seed funding worth $400,000 led by Outbox Ventures with participation from Palaash Ventures, in November last year.
– In March this year, travel planning portal TripHobo also raised $3 million funding from Mayfield and existing investor Kalaari Capital. The startup had previously raised an undisclosed amount of funding from Kalaari Capital in June last year.
– Earlier this month, Helion Venture Partners-backed online travel planning service Mygola was acquired by MakeMyTrip, following which the entire Mygola team has joined MakeMyTrip.
– Another online travel planning portal WeAreHolidays had raised an undisclosed amount in funding from Matrix Partners and existing investors Blume Ventures and GSF Superangel Investors, in August last year.
SAIF Partners’ new India-focused fund: Last month, venture capital firm SAIF Partners had raised $350 million for a new India-focused fund from 27 investors. They were expected to use the funds to invest in technology-focused startups. SAIF Partners, which has invested in companies like Paytm*, MakeMyTrip and JustDial among others, invests in early stage startups and established business across sectors like mobile, Internet, financial services, consumer products, IT/ITeS and industrials. The firm also invests seed capital in mobile and tech startups.
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