Bangalore-based MagicRooms has raised Rs 7 crore ($1.5 million) in Series A funding from Mumbai venture capital firm Nexus Venture Partners. The startup has developed a web-enabled platform that aggregates hotel room inventory from across the country. The funding from Nexus will be used to build infrastructure and increase marketing capabilities.
The company’s founder and managing director, Niranjan Gupta, earlier started online airline ticketing site Flightraja, which is now known as Via and backed by NEA-IndoUS Ventures and Sequoia Capital.
Nexus co-founder Suvir Sujan will join the MagicRooms board. The firm has $320 million under management and has invested in 20 companies here so far. Its other Internet-related investments include DimDim, Komli and Vdopia.
(Source: Press Release)
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