Indian online travel platform, TravelTriangle, has announced that it has raised about USD 11 mn in series C funding led by Nandan Nilekani and Sanjeev Aggarwal backed growth capital fund, Fundamentum.
The company’s existing investors including SAIF Partners, Bessemer Venture Partners, RB investments and a group of angel investors also participated in the funding.
Founded in 2011, TravelTriangle is an online holiday marketplace that brings together travellers and travel agents. The website lets you choose between different holiday types like Family vacation, Honeymoon and Weekend Getaways. Once you select the kind of holiday you wish to go on, it then shows you options you can choose from.
The company will be using the funds to build technology that strengthens the customer interaction using AI and machine learning. The online travel platform also plans to add more destinations and invest the fund in brand building. Currently, the international destinations on the website include Sri Lanka, Mauritius, Maldives, Dubai, Europe, Spain, Paris, Hong Kong, Italy, France, Seychelles, Austria, England, and UAE.
This is not the first time that Nandan Nilenkani and Sanjeev Aggarwal have invested in a travel venture. Other travel platforms like MakeMyTrip, RedBus and RailYatri have also raised fundings from them in the past. Together, both founded Fundamentum, which invests in mid-stage consumer technology businesses.
Speaking about the TravelTriangle investment, Nandan Nilekani said, “We met more than 50 companies before investing in TravelTriangle and we were very impressed by the team.”
He further said, “We believe that this team is amongst the very best that we have seen in the Indian technology eco-system, by virtue of their learnability, customer-centricity, frugality, and hunger to build a very large business. They have the foresight and demonstrated operational experience to win this category. We are very excited about partnering with the team to build this business together.”