TravelTriangle raises Rs 78 cr from Nilekani-backed firm, others

Online travel firm TravelTriangle today said it has raised Rs 78 crore in series C funding led by Nandan Nilekani-backed growth capital fund Fundamentum.

Fundamentum - founded by Nilekani and Sanjeev Aggarwal (founder of Helion Venture Partners) - invests in mid-stage consumer technology businesses.

The funding round also saw participation from existing investors SAIF Partners, Bessemer Venture Partners, RB investments and a group of angel investors, TravelTriangle said in a statement.

The funds will be used to invest in technology to strengthen customer interaction besides expanding to newer destinations and in brand building.

"The vision of the company is to encompass all the components of online holiday ecosystem and be the one-stop solution for the traveller," TravelTriangle co-founder and CEO Sankalp Agarwal said.

Nilekani said: "We believe that this team is amongst the very best that we have seen in the Indian technology ecosystem, by virtue of their learnability, customer-centricity, frugality, and hunger to build a very large business.