Delhi-based travel marketplace, Travel Triangle has raised $8 million in series B round from Bessemer Venture Partners with participation from existing investor SAIF Partners. In July 2014, the firm had secured $1.7 million in series A funding from SAIF Partners.
As per a TOI report, the raised funding will be used to push its product, expand the set of destinations it offers and increase its team size to 500 people. “We believe this financing round will enable Travel Triangle to expand into more destinations and cement their leadership position in a massive market,” said Raghav Bahl of Bessemer Venture Partners.
TravelTriangle.com was founded in 2010 by three IIT graduates by Sankalp Agarwal, Sanchit Garg and Prabhat Gupta, it’s a marketplace for travel agents who can provide customised tours packages to travellers at the best prices. The company claims to have more than 450 travel agents spread over 35+ countries.
The USP of TravelTriangle.com is that it enables customers to connect to multiple local travel agents, get quotations, customize their trips according to their preferences and book through the site directly.
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Other startups in the domain include TripHobo, which raised $3 million in series B round of funding earlier this month, online travel community startup, Tripoto which raised pre-series A round of funding led by IDG Ventures India, last month.
In February, SmartAirTrip had raised $10 million at a valuation of $100 million from unnamed investors. In March 2015, Delhi-based travel planning portal, Routofy had raised an undisclosed amount in funding from Snapdeal’s co-founders – Kunal Bahl and Rohit Bansal, with participation from Nikunj Jain, founder of Frankly.me.
Few days back, Indian online travel agency MakeMyTrip had recently acquired travel planning website Mygola for an undisclosed amount. Mobile travel app, Trip38 has raised $1 million in seed round from InterGlobe Technology Quotient in February 2015.