Main Highlights
- ixigo has collected $53 million through a combination of primary and secondary share issuances from investors.
- ixigo has fared well in the face of the coronavirus epidemic, growing despite the fact that most travel firms’ revenues in FY21 will be less than half of those in FY20.
- ixigo is focused on empowering travelers to plan, book, and manage their journeys via the use of artificial intelligence, machine learning, and data science-led technologies.
- ixigo is a smart, AI-powered travel software that lets you plan, book, and monitor your trips.
According to a regulatory filing, the leading travel app ixigo has collected $53 million through a combination of primary and secondary share issuances from investors led by Singapore sovereign wealth fund GIC ahead of its anticipated initial public offering. According to the application to the Ministry of Corporate Affairs, additional investors besides GIC include Infoedge Venture Funds, White Oak, Bay Capital, Orios Venture Partners, Trifecta Capital, and Malabar Investments.
Infoedge has been a major investor in private firms, including Zomato, which just completed a massive IPO and was listed last week with 68 percent debt gains, and Policybazaar, which is preparing for an IPO. The newest investment of $53 million is comprised of $36 million in primary shares.
While GIC is the main long-term public market anchor investor, and its investment enhances ixigo’s standing ahead of the IPO, Malabar, White Oak, and Bay Capital are active pre-IPO investors.
ixigo’s Funding
ixigo has fared well in the face of the coronavirus epidemic, growing despite the fact that most travel firms’ revenues in FY21 will be less than half of those in FY20. It intends to raise Rs 1,500-1,800 crore through a public float and is anticipated to file the DRHP soon. According to reports, prior to the IPO, the Gurugram-based business underwent capital restructuring and raised its approved share capital to Rs 50 crore from Rs 30 lakh.
Sequoia Capital India, Fosun RZ, Elevation Capital, and Micromax Informatics are among the notable investors in ixigo. The firm, founded in 2007 by Rajnish Kumar and Aloke Bajpai, is focused on empowering travelers to plan, book, and manage their journeys via the use of artificial intelligence, machine learning, and data science-led technologies.
ixigo is a technology firm that uses artificial intelligence, machine learning, and data analytics to help Indian passengers plan, book, and manage their travels. The firm, which was founded in 2007 and is located in Gurugram, Haryana, has a user base of over 250 million passengers.
The OTA platform allows travelers to book train, flight, and bus tickets, as well as hotels and taxis, while also providing travel utility tools and services developed using in-house proprietary algorithms. It offers crowd-sourced data, such as train PNR status and confirmation predictions, train running status updates and predictions, flight status updates, bus running status, pricing. Users also receive availability alerts, deal discovery, destination content, personalized recommendations, instant fare alerts, and automated customer support services.
ixigo is a smart, AI-powered travel software that lets you plan, book, and monitor your trips. Discover real-time pricing and availability for flights, trains, buses, taxis, hotels, and destinations with ixigo. ixigo is a one-stop travel shop.
About ixigo
ixigo, which was founded in 2007, is the brainchild of Aloke Bajpai and Rajnish Kumar, who push the business with innovations and an unconventional strategy. They were joined along the road by numerous more who today constitute the backbone of ixigo. Our team is made up of a dedicated group of techies, product people, content curators, marketing experts, and creative designers. What is it that connects us together, you ask? Our passion for travel and our desire to create the greatest goods in the travel industry.
The firm, which was founded in 2007 and is headquartered in Gurugram, has over 250 million users. ixigo is an artificial intelligence-powered travel software that helps travelers plan, book, and manage their trips. In February, ixigo paid an unknown sum for the acquisition of Confirmtkt, a Bengaluru-based online train discovery and booking platform.
