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Samvad, IndusLaw, Khaitan on Nandan Nilekani-backed Fundamentum’s $12m Series C in travel startup TravelTriangle

Gurgaon-headquartered online travel marketplace, TravelTriangle has raised around Rs 78 crores ($12m) in a Series C round of funding led by Nandan Nilekani and Sanjeev Aggarwal backed growth-capital fund, Fundamentum, along with existing investors SAIF Partners, Bessemer Venture Partners, RB investments and a clutch of angel investors, as reported by The Economic Times and Money Control. The deal marks the first investment by Fundamentum, and with this. partner at Fundamentum, Ashish Kumar will join the TravelTriangle board.

Samvad Partners advised as transaction counsel to Fundamentum Partnership Fund I and assisted in the drafting and negotiating of transaction documents and conducting due diligence, led by partner Ashwini Vittalachar, senior associate Junaira Rahman and associates Shubhangi Bhatnagar and Riddhima Murjhani.

A Bangalore team of Indus Law acted as counsel to TravelTriangle and its promoters in the funding.

Khaitan & Co represented as counsel to existing investor Bessemer India Capital Holdings II.

Founded in 2011 by Sankalp Agarwal, Sanchit Garg and Prabhat Gupta, TravelTriangle is a marketplace for travel agents who can create online customized tour packages for travellers. It was also reported that with the fresh funds, the company plans to invest in technology to strengthen the customer interaction layer, also looking forward to expand into newer destinations and increasing brand visibility through marketing.

2018-03-31

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing. If you are or know one of the lawyers who acted on this deal but has not been credited, please leave a comment below (marked not for publication), preferably with your name and email address, and we will update the report.


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