Sequoia Capital India and Battery Ventures are injecting $15 million into Travelguru in a second- round funding for the Indian online travel portal. The latest round is “the largest investment in one single round in the consumer internet space in India” and is also Battery Ventures’ first investment in this sector in India.
Westbridge Capital Partners, before it was merged into Sequoia Capital India, had invested $10 million in Travelguru in its first financing round in February. KP Balaraj, cofounder of Westbridge, and managing director of Sequoia India, led the first investment in Travelguru.
With access to more than 72,000 hotels worldwide, Travelguru lays claim to being the largest hotel consolidator in India. The online travel portal which currently attracts 70,000 customers a month, expects its user base to grow 30 percent month on month on the back of promotional and strategic initiatives underway.
The latest financing by the two venture capital firms will help to build Travelguru’s retail initiatives, and to support “very aggressive plans for marketing and brand building in the coming months,” according to a statement.