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MakeMyTrip Raises $330 Mn From Naspers And Others

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MAKEMYTRIP RAISES $330 MN FROM NASPERS AND OTHERS,Startup Stories,Startup Stories India,Inspiration Stories,2017 Most Read Startup Stories,MakeMyTrip App,Indian online travel company,MAKEMYTRIP Latest News

Indian online travel company MakeMyTrip Inc. is raising funds worth $330 million (which approximates to Rs 2,116 crore) from South African investor group Naspers, Chinese travel group Ctrip.com among others. This transaction is likely to be completed this Friday.

MakeMyTrip (MMT) obtains $132 million from Naspers by allowing 3.66 million class B shares at $36 apiece. And from Chinese travel agency, MMT mobilizes $33 million by issuing 916,666 ordinary shares at the same price. The Class B shares will be convertible into the ordinary shares.

MMT also raises $165 million from an undisclosed investor. The company said that it will use this resources for business expansion, technology and product development, strategic investments, marketing and promotions and to meet working capital.

Ctrip which previously made investments in MMT worth $180 million, gave itself a stake of 26.6% in the latter’s outstanding shares.

MakeMyTrip’s net revenue jumped 81% in the quarter through December 2016 to $76.5 million.

Gurgaon-headquartered MMT has been providing online travel services which include flight ticketing, domestic and international holiday packages, hotel reservations and rail and bus ticketing. Rightstay.com and redbus.in are its brands.

Currently, MakeMyTrip is facing intense competition from its rivals like Oyo Rooms, as well as international firms like Airbnb and Booking.com who are rapidly increasing in the country.

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Imarticus Learning Acquires MyCaptain for INR 50 Crore to Boost Non-Tech Upskilling

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My Captain

Imarticus Learning, an IPO-bound professional education firm, has acquired Bengaluru-based edtech platform MyCaptain for INR 50 crore in a cash-and-stock deal. This marks Imarticus’s fourth acquisition in four years and is aimed at expanding its presence in non-tech career training, especially across India’s Tier-II and Tier-III cities. MyCaptain, which has over 500,000 learners and a revenue of ₹27 crore for FY25, specializes in creative and entrepreneurial fields, with 60% of its users from smaller cities.

 

With this acquisition, Imarticus will bring MyCaptain’s employability bootcamps in digital marketing, design, and content to its 20+ classroom centers in 16 cities, blending online and offline learning. MyCaptain will operate as a fully-owned subsidiary, and all 250 of its employees will join Imarticus, expanding the combined workforce to over 850. The move supports Imarticus’s goal to reach five million learners by FY28 and deepen its offerings in non-tech domains.

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Ex-100X.VC Partners Launch 247VC, Announce INR 250 Crore Fund for Seed-Stage Startups

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StartupStories

Former 100X.VC partners Yagnesh Sanghrajka and Shashank Randev have launched a new venture capital firm, 247VC, unveiling a maiden fund with a target corpus of INR 250 crore (about $30 million). The SEBI-registered Category II AIF includes a base of INR 200 crore and a INR 50 crore greenshoe option, and is focused on backing 30 seed-stage startups across India over the next three years.

 

247VC will target high-potential founders in sectors like deeptech, enterprise tech, consumption, and Industry 5.0, with initial cheque sizes ranging from INR 3 crore to INR 4 crore and follow-on capital for top-performing companies. The fund has attracted prominent early backers, including Sachin Tagra (JSW Ventures), Vivek Mathur (ex-Elevation Capital), and Shailendra Majmundar (Johns Hopkins University).

Sanghrajka and Randev, who together have invested in over 200 startups previously, aim to support ambitious founders building for scale and innovation, especially in emerging and underexplored markets. The launch comes as seed-stage investing gains momentum in India, with average cheque sizes rising despite a cautious funding environment.

 

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Flam Secures $14M Series A to Revolutionize Mixed Reality Marketing with AI

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Flam_StartupStories

AI infrastructure startup Flam has raised $14 million in a Series A round led by RTP Global, with participation from Dovetail and existing investors, bringing its total funding to $22 million. Founded in 2021, Flam enables brands to create and deliver high-fidelity mixed reality (MR) and generative AI experiences without the need for app downloads, allowing consumers to access immersive content via QR codes or links in under 300 milliseconds.

Flam’s platform is already used by over 100 global brands-including Google, Samsung, and Netflix-reaching more than 380 million users. The new funding will accelerate product innovation, expand operations in North America, Europe, and Asia, and launch a full-stack enterprise suite for MR and GenAI-driven marketing. The company currently has over 120 employees and plans to grow to 180 by the end of 2025, aiming to transform every brand touchpoint into an interactive digital experience.

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