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Travel Startup Goomo Raises $50M from PE Fund Emerging India

Goomo, which was earlier an offline venture of Orbit Corporate and Leisure Travels Ltd, was launched in March 2017 after Emerging India acquired a majority stake in the company in November 2015

Singapore and Mumbai-based Goomo Holdings Services India Private Limited, which operates as an online travel and holiday booking platform Goomo, has raised $50 million (Rs 321.6 crore) from Mauritius-based  private equity firm Emerging India, according to a report by a financial  daily.

The company will receive its funding in tranches and has already secured $25 million. Emerging India has picked a majority stake in the firm. Goomo, which was earlier an offline venture of Orbit Corporate and Leisure Travels Ltd, was launched in March 2017 after Emerging India acquired a majority stake in the company in November 2015, the report added.

In February this year, Emerging India invested about $180 million in acquiring Orbit Corporate and Leisure Travels Ltd.  It is not clear whether the $50 million raised is part of Emerging India’s $180 million investment. E-mail queries have been sent to Goomo, seeking confirmation on the investment deal. 

Goomo currently offers services such as booking flights, holiday packages (both domestic and international) and attending trade fairs. The company is expected to add hotel bookings, buses and trains among  other services soon, according to information available on its website.

Emerging India is a growth-stage investor that invests across  multiple asset classes, including long-only equities, fixed income, credit strategies, private equity and fund of funds. In India, the investment fund has, till date, largely focused on capital markets.


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