India Deal Monitor: Ixigo raises $4.6m from Amar Ujala and more updates

Gurugram-based online travel startup Ixigo is raising about $4.6 million (Rs 35 crore) in its extended Series B funding round from media company Amar Ujala limited.

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.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Sector
IxigoGurugram4.6 millionSeries B1Amar Ujala limited-Travel
Lucro PlastecycleMumbai--Circulate Capital Ocean Fund (CCOF)-Waste Management
WagonflyBengaluru500000ITI Growth, Manoj Kumar-RetailTech
ConvosightHyderabad4 millionPre-Series AIvyCap Ventures, Sequoia Capital's Surge-Software
FittrPune2 millionPre-Series ASequoia Capital's Surge-Health & Wellness
AsknBidBengaluru--Mumbai Angels Network,Ravikanth Reddy-FinTech
NewsBytesGurugram1.5 millionSeries ANorth Base MediaJITO Angels, Powerhouse VenturesMedia

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.