Online trip planning startup iTraveller has raised Rs 6 crore in Series A funding from ah! Ventures, LetsVenture and Mantra Ventures. The deal underlines the rising interest of early-stage investors in the online travel space.
Incubated at Kochi’s Startup Village in 2011, the Bengaluru-based startup was founded by former Wipro and Cognizantconsultant Shiju Radhakrishnan. iTraveller is now targeting $1 billion in sales over the next five years. “Our singular focus is to achieve scale, from the current 20-room nights a day to over 100-room nights, within 12 months,” said founder & CEO Radhakrishnan.
The website already has 2 lakh trips created by users, featuring over 20 travel destinations and 60 native wholesale suppliers. “iTraveller has been getting good traction both from customers and other strategic partners,” said Abhijeet Kumar, founding partner, ah! Ventures.