RB Investments leads $10m Series B for India's TravelTriangle

Existing investors SAIF Partners and Bessemer Venture Partners also participated, according to a Live Mint story linked from TravelTriangle’s Twitter feed. The company will use the capital to expand its team and improve its technology, with plans to be profitable in the next 18 months.

TravelTriangle provides itinerary planning services and connects users with travel agents to get quotations and book tickets and hotels. Currently its network includes more than 650 agents, who submit bids for customers to choose between. The compan hopes to grow its reach to 1,500 agents by the end of next year.

TravelTriangle was founded in 2011, and raised a $1.7 million seed round from SAIF in 2014. An $8 million Series A round from Bessemer and SAIF followed in 2015. It claims to receive two million visitors per month, serving over 100 domestic destinations and 40 destinations worldwide.

Indian travel platforms have become popular in recent years, with founders hoping to take advantage of the country’s emerging middle class. A number of VC investors have committed capital to these start-ups, including Yatra Online, whose backers include Norwest Venture Partners, Vertex Ventures and Intel Capital and which last year agreed to a backdoor listing on NASDAQ.

Yatra is one of the leaders in the online travel segment, along with MakeMyTrip and Cleartrip, both of which have also received VC backing. MakeMyTrip, which listed in the US in 2010, has acquired several rivals in recent years including ibibo Group and Helion Venture Partners-backed Mygola.

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• Topics
• South Asia
• Consumer
• Technology
• Early-stage
• India
• SAIF Partners
• Bessemer Venture Partners
• TMT