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Gurugram-headquartered travel marketplace TravelTriangle has raised $12 Mn (INR 78 Cr) in a Series C round of funding led by growth-capital fund Fundamentum. Existing investors – SAIF Partners, Bessemer Venture Partners, RB investments – and a clutch of angel investors also participated in the round. The deal marks the first investment by Fundamentum. With this,Ashish Kumar, Partner at Fundamentum, will join the TravelTriangle board. As per the media statement, the funds will be used to invest in building technology, in order to further strengthen the customer interaction layer using artificial intelligence and machine learning, while the data analytics will help build a recommendation engine. The company is also looking to expand to newer destinations and invest in brand building. It currently gets a monthly traffic of 2.5 Mn and has close to 700 active travel agents operating through the platform. Today, according to a media statement shared by the company, there are travel agents who get close to 90% of their revenue through TravelTriangle. Read original article |
