Nexus invests $1.5 million into India's MagicRooms
Nexus Venture Partners has invested INR7 crore ($1.5 million) in Indian hotel room distribution database MagicRooms Solutions.
MagicRooms, a digital startup based in Bangalore, distributes a list of available hotel rooms to travel agents and online vendors. According to MagicRooms' Founder and CEO Niranjan Gupta, the funding will be used to build infrastructure and increase the company's marketing efforts. Gupta's previous travel-focused venture, Via/FlightRaja, received $13 million of funding from Helion Venture Partners and Sierra Ventures.
Nexus Venture Partners' co-founder Suvir Sujan will join MagicRooms' board as part of the deal. In addition to its investment from the VC firm, MagicRooms has additionally signed VC-backed online travel site MakeMyTrip as a client.
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