iXiGo raises $18.5m in VC Funding

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iXiGO.com, India’s leading travel search engine, has raised $18.5 million USD funding from SAIF Partners and MakeMyTrip Limited. SAIF Partners and MakeMyTrip Limited have picked up 56.7% and 19.9% respectively of the company, Le Travenues Technology Private Limited, as a result of this funding.

With the backing of SAIF Partners & MakeMyTrip, the company plans to further enhance its product offering and expand its market penetration among internet & mobile users, both in India and abroad. The company is also looking forward to grow its team and innovate further in expanding its product offerings for online travel research & trip-planning. The company also aim to strengthen our existing relationships with suppliers, online travel agencies, hotel aggregators, advertisers and content partners.

Mr. Ravi Adusumalli, Managing Partner & Head of India Operations for SAIF Partners said – “Online travel remains the leading growth driver of e-commerce & online advertising in India. We’re glad to be backing a passionate team with a proven track record of innovation & product led growth in this space.” Mr. Deep Kalra, Group Chairman & CEO, MakeMyTrip Limited added “We believe there are synergies in the two business models and both the consumers and the travel industry in India have a lot to benefit from this partnership.”

iXiGO.com is owned by Le Travenues Technology Pvt Ltd. It is a leading online & mobile travel search engine based out of Gurgaon, India. iXiGO.com searches across multiple airlines, hotels, trains, bus booking sites & online travel portals to find the best travel deals. The company was launched in June 2007 by Aloke Bajpai, Rajnish Kumar and Dharmendra Yashovardhan who are IIT, INSEAD and Amadeus alumni. It raised its first investment from BAF Spectrum, Singapore in February 2008. iXiGO.com has been recognized by NASSCOM as a Top-100 Innovator & India’s Top-10 Emerging Company. It has also won the TiE-Lumis Entrepreneurial Excellence Awards, 2010.

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