India’s leading smartphone handset player, Micromax Informatics Limited, has today announced that it has made a strategic investment in ixigo, India’s Gurgaon based leading mobile travel search & marketplace.
Micromax is planning to invest 0.5-20 million dollars in over 20 start-ups in the coming year. For this objective, Micromax has also set up an M&A team which has been actively sourcing and working with startups across major technology markets such as Silicon Valley, Europe, Israel and India to bring in the best products and capabilities.
As per Ixigo, it plans to use this investment for expanding its product & technology team and to add 25,000 small and mid-sized travel service providers to its marketplace offering, making ixigo the most comprehensive platform for comparing and buying travel services on mobile.
Ixigo launched in 2007 by Aloke Bajpai and Rajnish Kumar and is popular for its innovative travel apps in India. Its application helps Indian travellers to plan their trips, find the best train & bus services, book cheapest flights, cabs, hotels and more. As per the company, they are connecting over 60 million travellers with content & deals from over 25,000 online & offline travel & hospitality businesses.
Talking about the investment, Rahul Sharma, Co-founder, Micromax Informatics said, “Our vision is to seamlessly integrate innovative services into smart devices to create an ecosystem that is valuable for our users. We are really impressed with ixigo’s talented team & its mobile technology. We look forward to working closely with them to build on-demand and one-click travel experiences for Micromax consumers. We will be announcing more such partnerships over the next few months to accelerate our journey into services.”
Aloke Bajpai, CEO & co-founder, ixigo said – “We share a common vision of a connected ecosystem of travellers who can access & consume travel content ubiquitously on their phone and compare & book across a bouquet of travel service providers seamlessly. 80% of our travel & transportation queries and 50% of our transactions currently originate on mobile devices. This partnership with Micromax, the leading smartphone OEM in India, will strengthen our market leadership in mobile travel services for middle class users. We expect to quadruple our mobile user-base in the next 12 months.”