Info-tech

ixigo plans to raise $75 m

Abhishek Law Kolkata | Updated on November 20, 2018 Published on November 20, 2018

Aloke Bajpai, CEO, ixigo

Will use the funds to expand company’s engineering team and ramping up R&D

Gurugram-based travel marketplaceixigo has initiated talks to raise $75 million in its Series C funding. The funds could be used to invest in tech and travel start-ups.

The primary focus of the fund-raising, however, will be towards expansion of the company’s engineering team, ramping up of research and development, new products and customer acquisition.

Aloke Bajpai, CEO and co-founder, ixigo, said the investments could be in companies with which ixigo has synergies. “It is still too early to comment. But we may look at strategic investment in niche start-ups,” he told BusinessLine. “We are talking to a new set of investors. Existing ones could also come in,” Bajpai added. The company raised a Series B funding of $15 million in March 2017. ixigo’s ’s investors include Sequoia Capital, Fosun, SAIF Partners, Micromax Informatics and MakeMyTrip.

Bajpai said the firm has been profitable at a unit level over the past 18 months. But marketing expenses and fixed cost remain. Investments are being used for customer acquisition.

“We are acquiring bottom- and middle-of-the-pyramid customers, and a large part of these are regional language users,” he said, adding that the company is targeting metro and non-metro users with different offerings. For instance, ‘ixigo flight app targets tier I cities, while the ixigo train app targets tier II, III and IV cities.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on November 20, 2018
This article is closed for comments.
Please Email the Editor