Helion Ventures and Sierra Ventures, and existing backer Softbank Asia Infrastructure Fund (SAIF) invested $6 million, $4 million and $3 million, respectively, the report said. MakeMyTrip may have sold about 20% of its stake in this round, it said, citing people familiar with the transaction.
SAIF already invested $10M last year, which makes MakeMyTrip the most well funded of all the competitors, which include Cleartrip, Travelguru and Yatra.
Notably, MakeMyTrip says revenue will hit $130 million for the current fiscal year, about 200 percent higher than last year — which brings it into IPO territory.
Separately, Sierra Ventures is boosting its investments in India, by committing as an investor in a $12 million fund being raised by Indian VC firm Seedfund, notes VentureWire (sub required).