Travelguru May Get $15 Million From Battery, Sequoia In 2nd Round
Thu, 11/23/2006 - 15:47 — Sahad P VOnline travel portal Travelguru is likely to raise $15 million in its second round of funding, according to a report in The Economic Times. Battery Ventures is reportedly leading the round with $8-10 million, and it will be joined by the existing investor Sequoia Capital India with the rest of the capital. An announcement is expected only next week or so.
Tarvelguru, a Harvard Business School project, got the first round of funding from Seqouia Capital India early last year. The company had received $10 million in its first round of funding.
The tarvel portals, which needs cash to do marketing and advertising, are refurbishing their cash kitty. MakeMyTrip, the market leader in this space, recently raised its second round of venture funding of $10-12 million from Helion Ventures, Sierra Ventures and also the existing investor SAIF Partners. ClearTrip.com, funded by Kleiner Perkins and Sherpalo, and Yatra.in, backed by Reliance Capital, TV18 and Norwest Venture Funds, may see another round of cash infusion. [Via ContentSutra]
Comments
Please look at www.flightraja.com for finest most stable cheapest buying experience.
--Vinay
Couldn't agree more with you. The VC deals also need to be scanned-what is the criterion for funding- sure the picture isn't perfect here.
Hi
Hi
Well I never imagined that Sequoia and battery ventures are become stupid money. Of all the travel portals, travelguru is one the worst one. Their technology interface is awful ( it does not work on firefox), the moment u make payments, it gives you JSP errors and on top of that support email id bounces. Further for any travel date, they display the highest cost. At present the top three are clear trip, yatra and makemytrip. I think only good thing about travel guru is venture funding. It looks like that Travelguru management is perfect in mating dance for a VC.
March 31, 2008
Any knows how much stake did Sequoia pick?