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MagicRooms Raises Rs 7Cr From Nexus Venture Partners

07 July, 2010

Nexus Venture Partners has invested Rs 7 crore in MagicRooms (www.magicrooms.in), a company that helps a hotel’s property management system link with that of travel agents, travel portals and large corporate customers.

The Bangalore-based startup allows seamless real-time distribution of room inventory and rates online. End-users include travel portals and websites, travel agents, and corporate houses. MagicRooms has also signed up MakeMyTrip, one of India’s largest online travel agents, as its customer.

MagicRooms has been founded by Niranjan Gupta, the co-founder of online travel agency Via (formerly FlightRaja). Via, which works with agents who process their customers’ transactions through its website, has raised funding from NEA-IndoUS Ventures and Sequoia Capital India.

“MagicRooms will change the way hotel rooms are booked online. The funding will help MagicRooms build infrastructure and increase our marketing efforts,” said Niranjan Gupta, Founder & CEO, MagicRooms Solutions.

Suvir Sujan of Nexus Venture Partners who will join the MagicRooms Solutions board, said, “Niranjan is a strong entrepreneur with his pulse on the travel industry. MagicRooms has the potential to redefine hotel bookings in India”.

Desiya, one of the first hotels aggregators in India, was acquired by Sequoia and Battery Ventures funded Travelguru in 2007 in a stock deal for $25 million. Travelguru was subsequently acquired by Travelocity last year.


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MagicRooms Raises Rs 7Cr From Nexus Venture Partners

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