A travel portal, a new fund, a phone company, and a hotel solutions provider. Looks like India’s travel boom is getting real, and funds are starting to trickle back in.
This Noida-based travel #startup lets users book, plan, and curate vacations, and it just raised US$10 million in series B funding from Singapore’s RB Investments.
The Indian startup will put the money towards hiring more employees and adding more services. TravelTriangle aims to serve more than 100 holiday destinations across the world.
Started by IIT grads Sankalp Agarwal, Sanchit Garg, and Prabhat Gupta, the online marketplace connects globetrotters to multiple local travel agents. It not only takes care of tickets and bookings, but also customizes holiday packages depending on client needs.
Stellaris Venture Partners
Early-stage venture fund Stellaris Venture Partners has completed the first close of its US$100 million maiden fund on Monday.
The fund – run by former Helion Venture Partners executives Ritesh Banglani, Alok Goyal, and Rahul Chowdhri – will focus mostly on series A investments to tech businesses solving India-specific problems.
Focus areas will include local language online services, technology-led financial inclusion, supply chain networks, machine-learning applications, and global software-as-a-service (SaaS) businesses.
Founded in 2014, iManageMyHotel’s offers online booking and a central reservation system, a channel manager, and front-desk and restaurant management systems. The software lets hoteliers manage the entire reservation process from different sources, such as online travel agencies, offline travel agents, and corporates, VC Circle reports.
Micromax’s Orbis Capital
India’s biggest home grown mobile phone company, Micromax is to set up an independent fund, called Orbis Capital, to invest in consumer internet companies across the world. The new fund is expected to raise up to US$100 million, the Economic Times says.
The fund will look to invest in 10-12 startups with a ticket size of US$3-5 million each, the paper reported.
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