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Travelguru bags $15mln from Battery Ventures, Sequoia Capital

By Staff
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New Delhi, Nov 29 (UNI) Leading online travel portal, Travelguru today said it has received a second round of funding worth 15 million dollar from Battery Ventures and Sequoia Capital India.

The funding will help in building retail initiatives to support the company's online growth.

''The fresh capital infusion from Battery Ventures and Sequoia Capital reaffirms the growing confidence in Travelguru's team and leadership position in the Indian travel and tourism industry,'' company's CEO and Founder Ashwin Damera said.

The company, well known for marketing highly innovative and value-driven hotel, holiday and travel packages, has emerged the market leader in hotel and holiday distribution services.

The number of customers who use Travelguru for their air, hotel stay and vacation needs is currently pegged at 70,000 a month.

With a slew of promotional and strategic initiatives planned in the months ahead, the user base of Travelguru is set to grow by over 30 per cent month- on- month.

Battery Ventures partners with entrepreneurs and management teams across technology sectors, geographies and stages of company's life, from start-up and expansion financing, to growth equity and buyouts.

While, Sequoia Capital India provides venture and growth equity capital to entrepreneurs who wish to build world-class companies.

Globally, it has been an early investor in companies as Google, Yahoo, Apple, Oracle, Cisco and Youtube.

UNI SRS DKS HT2045

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