10 April 2018, India:
TravelTraingle has raised ₹78 crore in Series C round of funding. The funding round was led by Nandan Nilekani’s startup fund Fundamentum. Existing investors SAIF Partners, Bessemer Venture Partners, RB Investments and some angel investors also participated in the funding round.
The startup will use the fresh capital to strengthen technology, expand to new destinations and to increase brand visibility.
“We met more than 50 companies before investing in TravelTriangle and we were very impressed by the team. We believe that this team is amongst the very best that we have seen in the Indian technology eco-system, by virtue of their learnability, customer-centricity, frugality, and hunger to build a very large business,” said Nandan Nilekani, co-founder of Fundamentum.
Nandan Nilekani added, “They have the foresight and demonstrated operational experience to win this category. We are very excited about partnering with the team to build this business together.”
“The vision of the company is to encompass all the components of online holiday eco-system and be the one-stop solution for the traveller. We are continually growing and have been the fastest growing holiday player with the highest NPS (Net Promoter Score),” said Sankalp Agarwal, co-founder and CEO of TravelTriangle.
Sankalp Agarwal added, “To win the confidence of pedigreed entrepreneur investors like Nandan and Sanjeev is a great validation of our journey thus far. Our success up till now has been the effort of our super motivated and diligent team.”
“Holidays is a very large and profitable market, and requires a team with product-first DNA who can take along multiple ecosystem players. Sankalp and the team have the right combination of technology expertise, business acumen and domain knowledge to win the holiday travel market. We are delighted to collaborate with TravelTriangle and look forward to the exciting next phase of growth,” said Ashish Kumar, Partner, Fundamentum.
TravelTriangle was founded by Sankalp Agarwal, Sanchit Garg and Prabhat Gupta in 2011. It is a rare travel startup that has already hit positive unit economics and scale. The startup competes with MakeMyTrip, Goibibo, Yatra, Cleartrip etc.
(Image – India Live Today)