Travel tech firm Goomo has acquired Noida-based B2B vehicle rental marketplace WagonBee. The quantum of the deal couldn’t find out.
According to Varun Gupta, CEO of Goomo, the acquisition will help to add road transportation services to Goomo’s list of offerings, and further drive the brand’s promise of delivering end-to-end travel solutions to customers, reports ET.
WagonBee, which has a footprint over 40 cities across India, enables travel agents and suppliers to rent vehicles provided by over 350 verified vendors on its platform.
With more than 5000 vehicles registered on its website, the firm claims to be one of the top B2B travel platforms in the country.
Goomo, which was earlier a traditional travel-focused company Orbit Corporate and Leisure Tours, was formed after Emerging India acquired the parent company in November 2015, and then launched the online platform, Goomo.com, in March 2017.
It operates three verticals, consumer, corporate and B2B and lets users book flight tickets (domestic and international), holiday packages and trade fair travel deals. The site claims that the option to book hotels, buses, and trains.
Goomo had earlier raised $50 million from Emerging India in June last year. The travel tech firm had also acquired holiday marketplace startup Zopky.
Emerging India is primarily 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, it is largely focused on capital markets.
Of late, we witnessed a slew of developments in travel tech space in the country. In November, last year, Bengaluru-based travel tech startup Itilite raised seed funding of an undisclosed amount from Matrix Partners and some angel investors.
In the same month, US-based insurance exchange and software services firm Ebix acquired Bengaluru-based online travel company Via.com for $75 million.
Earlier, in October, country’s online travel space behemoths MakeMyTrip and Ibibo, announced a merger deal which is estimated to be worth over $720 Mn.