Travel-tech startup Goomo raises $50 million from Emerging India

Goomo Holdings Services India Private Limited, which operates an online travel and holiday booking platform Goomo has raised $50 million from private equity firm Emerging India. The startup firm plans to deploy raised money into products, marketing, and to establish its offline partner network.

Travel-tech startup Goomo raises  million from Emerging India

 

“Goomo is being built ground up to be an omni-channel platform that will facilitate corporate and consumer travel bookings across online and offline channels,” Varun Gupta, CEO of Goomo said.

The travel website Goomo was launched in March 2017 after the merger between Orbit Corporate and Leisure Tours that were acquired by Emerging India in 2015. The company provides 360-degree accessibility through a user-friendly website, mobile apps, multi-lingual call center, and a network of travel agents.

Under its current offering, Goomo offers flight bookings services, international and national holiday packages, trade fair tickets to the consumer, corporate and B2B customers. The company is further expected to add bookings for hotels, buses, and trains, among other services.

“The travel industry in India offers immense opportunities for growth and consolidation. Over the past 12 months, we have built a great team with a strong foundation. We are excited about the growth prospects of the business and expect the team to create a great India-focused travel distribution business in the next two-three years,” a spokesperson for Emerging India said.

Currently, Goomo has over 300 employees based in 15 cities in India and Germany. The company is planning to expand to other countries in the coming year so that other people can also avail the facilities.

MakeMyTrip.com, Yatra.com and Cleartrip together hold the major stake in online consumer travel market.  However, startups operating in the online travel space have been gaining traction amongst investors in the last few years.

Recent deal in Online Travel Space

-In February this year, TravelTriangle had raised $10 million in a Series B round of funding from RB Investments, and participation from existing investors SAIF Partners and Bessemer Venture Partners.

– In March this year, online travel search engine ixigo has raised $15 million (about Rs 100 crore) in a Series B funding round led by Sequoia Capital.

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