Indian Travel Industry roundup: TravelGuru to acquire Desiya, MakeMyTrip raises $15mn, Yatra plans IPO

It’s show time (as well as consolidation time) in the online Travel space and here is the current roundup:

TravelGuru to acquire Desiya (reports vccircle)

Gurgaon-based Desiya was founded in early 2005, and currently employs about 50 people. It only deals in online hotel booking, and is said to be having a network of 3,300 hotels. Desiya has kept low profile in terms of it’s consumer services and has instead licensed it’s content to portals like Travelguru, Indiatimes and Cleartrip.

MakeMyTrip raises $15 million in Series C funds

MakeMyTrip (MMT) closed Series C investment of $15 million from Tiger Fund and the three existing venture capital investors – SAIF Partners, Helion Venture Partners and Sierra Ventures. MMT plans to invest around $5 million (approximately Rs 20 crore) over the next twelve months, to expand both its US and Indian operations (BS)

MMT’s funding story so far:

  • MMT has raised $1 mn in the seed round (eVentures),
  • $10 million in Series A (SAIF partners),
  • $13 million in Series B (SAIF Partners, Helion and Sierra).
  • MMT closed Series C investment of $15 million from Tiger Fund and the three existing venture capital investors – SAIF Partners, Helion Venture Partners and Sierra Ventures.

MMT plans IPO by 2009.

Yatra plans IPO

Yatra plans IPO by April, 2008 and is planning to invest Rs. 20 million to open three retail outlets in the next 12 months.
tags: travelguru, desiya, makemytrip, yatra

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