Sequoia to invest in online travel agency

Sequoia to invest in online travel agency
Comment E-mail Print Share
First Published: Sat, Jan 23 2010. 12 30 AM IST
Updated: Sat, Jan 23 2010. 01 39 PM IST
New Delhi / Bangalore: Venture capital firm Sequoia Capital India has invested around $10 million (Rs46 crore) in online travel agency Via.
Sequoia completed the investment in the Bangalore-based firm, formerly known as FlightRaja, in December, people aware of the deal said on condition of anonymity.
Via had in 2007 raised $5 million from NEA-IndoUS Ventures. Sequoia Capital declined to comment on the matter. Vinay Gupta, the co-founder and chief executive of Via, could not be reached for comment.
Founded in July 2006, Via provides services such as bookings for flights, railways, buses and holidays. Unlike other travel websites, Via works with agents who process their customers’ transactions online.
“While other OTAs (online travel agencies) have made travel agents less relevant, this company is working with them,” said a person familiar with the transaction, who also declined to be named.
feedback@livemint.com
Comment E-mail Print Share
First Published: Sat, Jan 23 2010. 12 30 AM IST