[Funding alert] Curated travel platform TravelTriangle raises $13M in Series D from KB Global, others
TravelTriangle, a Gurugram-based online travel marketplace for holiday packages has raised $13 million in its Series D funding round from South Korea-based KB Global Platform fund and the Nandan Nilekani-led, The Fundamentum Partnership Fund I.
According to the RoC filings accessed by YourStory, KB Global invested Rs 32.5 crore via convertible cumulative preference shares, while Fundamentum infused Rs 29.5 crore in the company.
Other investors who participated in the round include RB Investments, SAIF Partners, Bessemer Venture Partners, among others.
From L-R: Prabhat Gupta, Co-Founder and CTO; Sankalp Agarwal, Co-Founder and CEO; and Sanchit Garg, Co-Founder and Director
The startup will use the funding to further develop its technology with a focus on artificial intelligence (AI) and machine learning (ML), brand building, and to expand to newer geographies.
Owned and operated by Holiday Triangle Travel Pvt Ltd, TravelTriangle was founded by Sankalp Agarwal, Sanchit Garg, and Prabhat Gupta in 2011. The company has over 650 agents and 65 destinations and grabs monthly traffic of 2.5 million visitors on its platform. It enables travel enthusiasts to book a personalised holiday plan at best prices with a local travel agent.
Working as a full-stack provider of holidays, TravelTriangle helps enable discovery, engagement, and fulfilment of transactions for holidays across travel operators in India and abroad.
In October 2018, it raised $3 million in venture debt from InnoVen Capital, which first invested $1.25 million in TravelTriangle in 2015. In April last year, the startup secured $12 million in its Series C funding round led by Fundamentum.
The company raised $10 million in a Series B round led by Singapore-based RB Investments in February 2017. In April 2015, it received Series A financing worth $8 million from Bessemer Venture Partners. Before that, it raised $1.7 million in pre-Series A funding in July 2014 from Bessemer Venture Partners.
According to experts, the Indian holiday market is a $10 billion opportunity and is expected to become $30 billion in the next five to six years.
(Edited by Suman Singh)