Online travel portal Travelguru may rake in $15 million in its second round of funding, reports The Economic Times. Battery Ventures will lead the round with $8-10 million, joined by the existing investor Sequoia Capital India who will put in the rest of the capital. An announcement is expected only next week or so. Travelguru is a Harvard Business School project which got funded by Seqouia Capital India early last year. The company had received $10 million in its first round of funding.
Now it’s all about cash power since the travel portals are burning money to acquire customers. MakeMyTrip, the market leader in this space, recently raised its second round of venture funding of $10-12 million from Helion Ventures, Sierra Ventures and also the existing investor SAIF Partners.
ClearTrip.com and Yatra.in are the other VC-funded online travel companies, and it’s likely they may also go in for their second round soon.