MakeMyTrip Makes $13 Million

Barely two weeks after Travelguru, an airline and hotel-booking consolidator, bagged its second round of funding of $15 million, MakeMyTrip has confirmed it is receiving $13 million in its second round of financing from Helion Ventures, Sierra Ventures, and SB Asia Infrastructure Fund (SAIF).

These are large sums for Indian dotcoms, but in the fiercely competitive travel-bookings market, each of the travel web sites in India are finding they need to try to outdo their competitors (see Money Flies to India Trip Sites).

MakeMyTrip (MMT), a 2006 Red Herring Asia company, will use the money to strengthen its infrastructure, build more relationships within the tourism industry, and add tech capabilities to its web-enabled business. Among these will be interactive maps, a feature not seen on any of the India-centric travel sites yet.

The company received its first round of funding for $10 million from SAIF Partners in May 2005.

Click for complete article

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: