Travel solutions startup Bitla Software raises funds from MakeMyTrip
MakeMyTrip Ltd, the country’s largest online travel services provider, has made an undisclosed investment in travel-focused tech startup Bitla Software Pvt. Ltd.
Bengaluru-based Bitla Software primarily develops SaaS, cloud and mobile-based solutions catering to enterprises in the travel segment. The bootstrapped firm also targets leisure, logistics and hospitality industries.
Founded by Dasharatham Bitla in 2007, the company helps businesses streamline bus ticketing, simplify cargo operations, optimise hotel operations and monetise tour booking.
“With this investment, we will be able to rapidly develop and expand our suite of travel-focused technology products for our customers,” said Bitla, founder and chief executive, Bitla Software.
Bitla Software’s solutions are used domestically and internationally by bus operators, online ticketing portals, hoteliers, holiday tour operators and cargo and logistics companies.
“Our latest investment in Bitla Software is aimed at providing an extensive suite of technology products and solutions for the bus and hotel supplier ecosystem, which will further strengthen our strong market position,” Deep Kalra, chairman and group CEO of MakeMyTrip Limited, said.
Founded in 2000 by Kalra, Rajesh Magow, and Keyur Joshi, MakeMyTrip offers services that include air ticketing, hotel and alternative accommodations bookings, holiday planning and packaging, rail ticketing and intercity bus ticketing. Its other brands include RightStay.com and Redbus.in.
The company also forayed into the budget hotel segment last year, after indicating that it was all set to become a full-stack services player in the online travel agency segment.
The Nasdaq-listed firm doubled its revenue but posted a loss for the third quarter of the financial year 2017-18. It had had turned in a profit in the corresponding quarter of 2016-17.
Net revenue, or revenue excluding service costs, surged 93.8% in constant currency terms to $151.4 million for the October-December period from $76.5 million in the same period of the previous year.
In late 2016, in the biggest-ever consolidation move in the online travel space in India, MakeMyTrip agreed to buy Ibibo Group, co-owned by South African technology group Naspers Ltd and Chinese investment firm Tencent, in a stock deal.
MakeMyTrip has invested in travel-tech startup Simplotel, travel planning website Inspirock, travel booking startup GoFro, vacation planning website HolidayIQ, online travel meta search engine iXiGO, besides acquiring the assets of travel planning website Mygola.com.
The company has also done a handful of deals in the international market including investments in Thailand-based hotels aggregator ITC Group, South East Asia-focused Hotel Travel Group, Amsterdam-based EasyToBook.com, and Singapore-based Luxury Tours & Travel Pte Limited.