According to the company’s filings sourced by business signals platform paper.vc, Amar Ujala will invest the aforesaid amount in five tranches. In the first tranche, Ixigo will allot 5,333 Series B1 compulsorily convertible preference shares (CCPS) and 10 equity shares to Amar Ujala, along with four share warrants having exercise period extending to March 2022, the filings show.
Ixigo had been struggling to raise funds for a while now. It last raised $15 million in Series B round led by venture capital firm Sequoia Capital in March 2017. SAIF Partners and Make MyTrip picked up a total 76.6 per cent in Ixigo for $18.5 million in 2011.
Ixigo was founded in 2007 by Aloke Bajpai and Rajnish Kumar. The company works as a price comparison engine aggregating deals from various online and offline travel portals. It aggregates and compares real-time travel information, prices and availability for flights, trains, buses, cabs, hotels, packages and destinations.
INDIA DEAL MONITOR
Here are some prominent venture capital transactions in India from April 26-28, 2020.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Sector|
|Ixigo||Gurugram||4.6 million||Series B1||Amar Ujala limited||-||Travel|
|Lucro Plastecycle||Mumbai||-||-||Circulate Capital Ocean Fund (CCOF)||-||Waste Management|
|Wagonfly||Bengaluru||500000||ITI Growth, Manoj Kumar||-||RetailTech|
|Convosight||Hyderabad||4 million||Pre-Series A||IvyCap Ventures, Sequoia Capital's Surge||-||Software|
|Fittr||Pune||2 million||Pre-Series A||Sequoia Capital's Surge||-||Health & Wellness|
|AsknBid||Bengaluru||-||-||Mumbai Angels Network,Ravikanth Reddy||-||FinTech|
|NewsBytes||Gurugram||1.5 million||Series A||North Base Media||JITO Angels, Powerhouse Ventures||Media|