Deals

MakeMyTrip, Indian travel site, raises $13M, joins all the other Indian travel sites

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MakeMyTrip.com, the Indian travel site, has raised $13 million in a second round of funding amid robust growth, according to The Economic Times.

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).


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