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India's MakeMyTrip buys VC-backed Mygola

  • Holden Mann
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Indian travel site MakeMyTrip has acquired VC-backed travel planning startup Mygola.

MakeMyTrip said in a release that it had acquired "certain assets" of Mygola, and that all of Mygola's employees have joined the company "to focus on cutting-edge innovation in online travel." The size of the deal has not been disclosed.

Mygola, founded in 2009, focuses on itinerary planning. It suggests landmarks and routes based on the user's location and customer reviews. Users can also book tickets and make reservations through the site or the mobile app.

The site raised $1.5 million in a 2013 Series A round led by Helion Venture Partners. Blumberg Capital, which contributed to Mygola's $1 million seed round in 2011, participated in the Series A round as well.

Unlike Mygola, MakeMyTrip is oriented toward travel booking and hotel reservations. The company was founded in 2000 by Deep Kalra, and attracted investment from VC backers including SAIF Partners, Tiger Global and Helion, before raising $70 million in its US IPO in 2010.

MakeMyTrip's acquisition of Mygola was made through its Innovation Fund, which the company launched last year to support early-stage travel-focused companies.

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