Indian Agency Goomo Raises More Than $25 Million: Travel Startup Funding This Week
Photo Credit: Radisson Blu Plaza Delhi's contemporary facilities and free WiFi appeal to corporate travelers of the kind targeted by Goomo, a travel company in India that has received a substantial private equity investment. Radisson Blu Plaza Delhi
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Private equity aims to scale up an Indian agency with a core business traveler clientele, while two rival subscription airlines combine, and a clone of Airbnb for gay travelers receives funding. Clearly, some investors favor companies that focus on niches.
Each week we round up travel startups that have recently received or announced funding. The total raised this week was more than $44 million.
>>Private equity fund Emerging India recently took a majority stake in the 27-year old Indian travel agency Orbit Corporate and Leisure Tours.
The Mauritus-based fund believes it can bring the Mumbai-based, offline travel agency into the online era with the help of investment, new executives, and a multi-pronged business strategy.
Emerging India has created a new brand, Goomo, for the combined entity.
The fund has invested $25 million to date in the combined Goomo operation.
It has pledged an additional $25 million if the company meets its targets.
Goomo (formerly Orbit) has 14 domestic stores and specializes in travel services for Indian companies, such as running trade fairs and MICE (Meetings,
