Next milestone for Micromax: investment in ixigo
Micromax has announced a strategic investment in mobile travel search and marketplace ixigo. ixigo is a renowned service among Indian travelers for planning trips, finding the best train and bus services, booking cheapest flights, cabs and hotels.
Micromax is a Gurgaon based company that is looking forward to use this investment for expanding its product and technology team. They also want to add 25,000 small and mid-sized travel service providers to its marketplace offering. It will help in making ixigo the most comprehensive platform for comparing and buying travel services on mobile.
Rahul Sharma is the Co-founder of Micromax Informatics, who is looking forward to work with integrated services in order to build ‘on-demand’ and ‘one-click’ travel experiences for Micromax consumers. Micromax will be announcing more such partnerships over the next few months to expand the area of its services amongst other sectors.
Micromax has also set up an M&A team which is already in advanced talks with startups across major technology markets. These major tech markets include Europe, Israel, India and Silicon Valley. Last year Micromax announced that it will be investing $0.5-20 million in more than 20 startups in 2015.
CEO and Co-founder of ixigo, Aloke Bajpai believes that the partnership with Micromax will strengthen the company’s market leadership in mobile travel services for middle class users. He’s expecting to quadruple ixigo’s mobile user-base in the coming year.
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