ClearTrip has received $18.5mn in the third round of funding led by DFJ ($10 mn) and the rest was led by Mahindra Group and all the four firms that had previously invested in Cleartrip.
This brings the total investment in Cleartrip to $ 30. 2 million.
ClearTrip plans to use the funding for building more services and increasing offline presence as well as acquisitions (any guesses?).
The online travel industry in India was estimated at $2 billion in revenues (the value of transactions as opposed to the earnings of travel firms) in 2007 and is expected to grow to $6 billion in 2010, according to travel research group Eye For Travel. – source