InnoVen Capital invests $3mn in TravelTriangle

Venture debt firm InnoVen Capital has invested $3 million in travel portal TravelTriangle, three years after it invested U$1.25 million.

“We are excited to be part of Travel Triangle’s journey. The company has showcased growth coupled with healthy and positive unit economics. It has demonstrated a strong ‘say-do' ratio since our first investment in 2015 and is well on its way of encompassing all the components of holiday ecosystem through its highly innovative and technology-focused product,” said Punit Shah, Director, InnoVen Capital.

TravelTriangle has already raised a cumulative equity of $28 million. In its previous round, the platform raised $12 million from Nandan Nilekani and Sanjeev Aggarwal backed Fundamentum. With four years of relationship, InnoVen Capital has helped the platform to connect with similar platforms in China through Temasek.

“The portal presently covers  around 15 countries and 65 destinations. We also received a recent Series C funding of $12 million from Nandan Nilekani and Sanjeev Aggarwal-backed Fundamentum. The funding acquired from InnoVen and our other esteemed investors will be directed to meet the pressing expansionary demands for the organization, and strengthening our outbound based operations,” said Sankalp Agarwal, co-founder and CEO, TravelTriangle.

TravelTriangle is founded in 2011 by IIT graduates Sankalp Agarwal, Sanchit Garg and Prabhat Gupta.