For the first time since 2011, travel segment has featured among the top three funded sectors
Startups in travel business have received more funding than e-commerce marketplaces so far this year, according to data sourced from research firm Tracxn.
Travel startups have received $366,450,000 while e-commerce marketplace startups have received $357,831,100 in funding since the beginning of 2016, as per the data. A bulk of the funds for travel startups came through two deals, with Ibibo Group raising $250 million in February in a Series-C round while OYO Rooms raised $100 million in a Series-D round in April. Although travel startups are only marginally ahead, this is the first time since 2011 that the segment has featured among the top three funded sectors. Online marketplaces stopped short of being the highest funded segment only in 2010, as per data from Tracxn. Though much of the funding for travel startups this year came through just two deals, the sector has seen increasing interest from investors since last year, according to Tracxn’s data.
Travel startups raised among the highest funding in the third quarter of 2015, with ConfirmTkt, HolidayIQ, JetSetGo, TripFactory, Wetravelsolo, WudStay, Zo Rooms,14Square, NightStay, OYO Rooms and Zo Rooms raising $164,100,186 between July and September. However, during that quarter, e-commerce marketplaces were way ahead with $1,506,624,000 raised by firms including Flipkart, Snapdeal, Paytm, Stylecracker, Gadgets360 and Glowship.
In the first quarter this year, travel startups saw a funding of $253,250,000 raised by ConfirmTkt, SavvyMob, Ibibo Group, Roadhouse Hostels and Roomoncall while in the ongoing second quarter GoHero, OYO Rooms, RailYatri, Easy Roads, Stayzilla have raised $113,200,000.
Source: The Economic Times (Delhi)