Micromax Informatics Limited, the Indian smartphone handset player has made a strategic investment in Gurgaon-based travel search marketplace, Ixigo. Ixigo helps Indian travellers plan their trips, find the best train & bus services, book the cheapest flights, cabs, hotels and more. The details of the investment are still undisclosed.
Ixigo plans to use this investment for expanding its product & technology team and to add 25,000 small and mid-sized travel service providers to its marketplace offering. It will also give ixigo a reach of over 30 million incremental users over the next year. The company aims to provide relevant travel services to the next 300 million smartphone users, and has recently entered the budget hotels, packages & cabs segments.
Talking about the investment, Rahul Sharma, Co-founder, Micromax Informatics said, “We look forward to working closely with them to build on-demand and one-click travel experiences for Micromax consumers. We will be announcing more such partnerships over the next few months to accelerate our journey into services.”
Founded in 2007 by Aloke Bajpai and Rajnish Kumar, Ixigo aggregates and compares real-time travel information, prices & availability for flights, trains, buses, cabs, hotels, packages & destinations. The company mission is to simplify the lives of travellers by building apps that make their travel search and planning hassle-free. The firm connecting over 60 million travellers with content & deals from over 25,000 online & offline travel & hospitality businesses.
“80% of our travel & transportation queries and 50% of our transactions currently originate on mobile devices. This partnership with Micromax will strengthen our market leadership in mobile travel services for middle class users. We expect to quadruple our mobile user-base in the next 12 months,” said Aloke Bajpai, CEO & Co-founder, Ixigo.
Micromax had announced last month that it would be making investments of $0.5-20 million in over 20 startups in the coming year. For this objective, it has also set up an M&A team which has been actively sourcing and working with startups across major technology markets such as Silicon Valley, Europe, Israel and India to bring in the better products and capabilities.Category Investments