Sequoia, Fosun to pump more into ixigo

Sequoia, Fosun to pump more into ixigo
Sequoia, Fosun to pump more into ixigo

Le Travenues Technology Pvt Ltd, which runs online travel marketplace ixigo, said that it is in talks to raise up to $75 million (around Rs 539 crore) in a Series C round of funding. The Gurugram-headquartered company said in a statement that discussions were underway with a clutch of US and China based investors it did not name. Existing investors Sequoia Capital and Fosun International will also contribute, it added. Meanwhile, ixigo said the fresh funding was aimed at boosting product innovation, research & development, and brand marketing. The platform is also looking to ramp up its trains app to drive growth in rail ticketing. Ixigo said it currently draws 20 per cent of its revenue from the segment and hopes to take this number beyond 50 per cent by 2020.

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