Deals

Indian travel site Cleartrip raises $8M from DAG Ventures — because DAG can react within 48 hours

DAG Ventures has led an $8 million second round of funding for Indian travel site Cleartrip, VentureWire reports today (sub required).

Together with its previous $3 million from Google founding investor Ram Shriram, and Kleiner Perkins, Cleartrip has now raised close to the same as its competitors.

Travelguru just raised $15 million, and MakeMyTrip is reportedly about to raise double digit millions too.

DAG has made a string of investments in other Kleiner-backed companies lately.

Kleiner Perkins General Partner Ted Schlein told VentureWire in November that the firm likes working with DAG Ventures because of its ability to make quick decisions. “I can make a call over to the DAG guys knowing they will be in touch with a company for an early exploration within 48 hours,” Schlein said.

Ram Shriram’s Sherpalo Ventures also participated in the round, according to the report.

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