Just in: iXiGO, India’s fastest growing and innovative travel metasearch engine, announced their first round of financing from BAF Spectrum, Singapore today. The value of funding is undisclosed, but it seems like a pre Series A funding for marketing and content scale-up strategy.
William Klippgen, Executive Director at BAF Spectrum is joining iXiGO’s board of directors. Klippgen co-founded Zoomit.com which merged with Kelkoo, which later was acquired by Yahoo in 2004 for more than $550 million. BAF Spectrum is an angel investment fund supported by the Economic Development Board in Singapore under the Business Angel Scheme. (source)
This funding not just validates that travel metasearch in India is a viable business, but also validates that Indian bootstrapped ventures can also attract both national and international VC funding at the right time. It’s time now to watch out for the likes of Zoomtra.
I have covered iXiGO in the past (read here), and IMHO it’s one of the most innovative and dynamic companies in the flights search domain. iXiGO was bootstrapped as a no-nonsense no-frills transparent travel metasearch engine in June 2007, and since then they have been launching a cool feature every couple of months.
Discovering route combinations at the cheapest price is one of the most innovative offerings from iXiGO. With this new funding, I wouldn’t be surprised if iXiGO launches a new metasearch domain (e.g. hotels, buses, vacations, etc), or a couple of other cool features.
What’s your take on iXiGO’s funding?