Online travel agency MakeMyTrip has acquired 18% stakes in Inspirock, an online tool for planning and creating custom itineraries. The deal amount remains undisclosed. However, it was finalised through MakeMyTrip’s innovation fund. The fund has been created to invest up to $3 million in startups or early stage companies in the travel technology space. The deal will help the company to make trip planning engaging for its customers.
Started in 2013, US based Inspirock provides users with a trip planning application which helps them plan their day-to-day trip. The plan is completely customizable with options a user can choose on the home page and by adding and deleting recommended attractions and destinations. Currently, the startup works only in US and Europe.
Inspirock has partnered with travel agents who help its customers with additional planning necessities, like finding hotels, flights, trains, transfers, and even guides in foreign destinations, as reported by VCCircle.
In April 2015, MakeMyTrip had acquired travel planning website Mygola for an undisclosed amount, again done through its innovation fund.
Gurgaon-based MakeMyTrip is an online travel company providing holiday packages, travel guides, and booking services for flights, hotels and buses. Founded in 2000 by Deep Kalra, Rajesh Magow, and Keyur Joshi, the company has raised a total of $28 million in 2 rounds and went public on August 2010.Category Business Investments