My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

Startup Funding

MakeMyTrip invests $5M in travel start-up Bona Vita, acquires 67% stake

MakeMyTrip invests $5M in travel start-up Bona Vita, acquires 67% stake
Image credit:
Former Staff,
2 min read
Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Gurgaon-headquarter and Nasdaq listed online travel firm has invested $5 million in New Delhi-based travel start-up Bona Vita Technologies, acquiring majority shareholding on a fully diluted basis. MakeMyTrip disclosed the recent development in its first quarterly filing to the US Securities and Exchange Commission. The travel portal also reported an increase of 14.7 per cent in its year-on-year revenue at $38.1 million in the quarter ended June 30, 2015.

Commenting on new investment Deep Kalra, Founder & Group CEO, MakeMyTrip, said, “We have invested $5 million in Bona Vita Technologies Private Limited acquiring 67 per cent shareholding on a fully-diluted basis.”

Founded by former Sanpdeal Chief Technology Officer (CTO) Amitabh Misra, Bona Vita intends to use this capital to build a differentiated product offering in the travel industry. Misra joined Snapdeal in 2011, and was credited with creating and building company’s IT infrastructure and backend systems. Later Misra, who is an IIT Kanpur and University of California at Berkeley alumni, resigned from his post at the end of February this year to start his own entrepreneurial venture Bona Vita Technologies.

In recent past, MakeMyTrip has sealed line of deals. Last week, the company picked up a 28 per cent stake in Leisure and Lifestyle Information Services website HolidayIQ for $15 million. It also bought an 18 per cent stake in California-based, an online planning tool for developing customizable itineraries. In April, MakeMytrip acquired the assets of travel planning firm Prior to that, in January 2015, the firm also bought 25 per cent stake in Bengaluru-based digital hotel marketing solutions start-up Simplotel.

More from Entrepreneur

New York Times bestselling author Nicole Lapin can help you pitch your brand to press and strengthen your media training.
Book Your Session

In as little as seven months, the Entrepreneur Authors program will turn your ideas and expertise into a professionally presented book.
Apply Now

Create your business plan in half the time with twice the impact using Entrepreneur's BIZ PLANNING PLUS powered by LivePlan. Try risk free for 60 days.
Start My Plan

Latest on Entrepreneur