Nandan Nilekani and Sanjeev Aggarwal’s Fundamentum invest $12 million in TravelTriangle

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Published: April 11, 2018 6:11:21 PM

TravelTriangle is planning to use the funds on Research and Development (R&D). The company further stated that they are planning to develop a recommendations engine where users will be displayed with the most relevant holiday packages

Nandan Nilekani and Sanjeev Aggarwal’s Fundamentum invests $12 million in travel startup TravelTriangle

Tech Travel startup, TravelTriangle, has secured $12 million in its Series C round of investment led by Fundamentum. The startup works like a travel package booking platform, where users can choose and select from a list of travel packages across India. The company further collaborates with offline travel agencies to help them offer packages and tailoring trips. TravelTriangle provides a back-end platform to the agencies help them posting packages on the platform and generate more revenue.

TravelTriangle is planning to use the funds on Research and Development (R&D). The company further stated that they are planning to develop a recommendations engine where users will be displayed with the most relevant holiday packages, according to their history and users who acted the same way like this.

Fundamentum is $100 million startup fund floated by former Infosys CEO Nandan Nilekani and Helion Ventures Partner Sanjeev Aggarwal. When the fund was first launched, Nilekani in a statement said that Fundamentum looked over 50 deals before investing in TravelTriangle.

With Fundamentum leading the round, the funding saw participation from its existing investors AIF Partners, Bessemer Venture Partners and RB investments. The company last raised $10 million in its Series B round of investment, last year. With the investment the company was able to increase the number of users from 2 million per month to 2.5 million per month, increasing the number of travel agencies close to 700.

The company is also looking to expand its selection destinations from the current 65. He further added that the company will be adding international destinations in another 2-3 years.

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