Skift raises undisclosed funding from Times Internet

New York based travel intelligence and information portal, Skift, has raised an undisclosed amount of funding from Times Internet Limited. skift

Satyan Gajwani, CEO, Times Internet, has confirmed the development though he declined to disclose the amount of investment.  It is a part of Skift’s last fundraising round, he said. No one from TIL will be joining the board of Skift.

Satyan, on being asked why he chose a travel business to invest in as TIL does not have any related venture in Travel as of now, he said, “Skift is about a lean new media company, travel happens to be the category. We are impressed with their ability to build a high quality digitally savvy media company”

Skift, which offers news, information, data and services related to travel, raised $1.1 million of funding in May this year in a round led by Lerer Ventures with participation from a group of eight angel investors along with seed funds Ironfire Angel, MESA+, Advancit Capital and Grow lab+LX Ventures.

Rafat Ali, Founder, CEO, Skift told us in an email, “Awesome to have T-Labs/Times Internet as an investor. One of the largest media and Internet companies in the world, lots to learn from them and use their help in expanding, possibly into India in the future”.

Earlier this month, TimesCity, a venture by Times Internet Limited (TIL) acqu(h)ired “Gawbl” an Android based app which suggests food based on the user’s mood. In December 2012, Times Internet group invested in Social commerce site, Fab.com.

Recommended Read : Startups are Riding the Change in Domestic Travel in India; It’s all About Adventure

Disclosure: Times Internet is an advertiser at NextBigWhat.

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