The Indian Wire » Startups » MakeMyTrip India receives ₹69 crores from Mauritius-based parent company
Startups

MakeMyTrip India receives ₹69 crores from Mauritius-based parent company

According to the recent RoC filings, Mauritius-based MakeMyTrip Limited Mauritius infused ₹69 crores in its Indian subsidiary. Earlier this year, the company had invested ₹170 crores in MakeMyTrip India Private Limited.

The recent news comes close to the time when MakeMyTrip India had invested an undisclosed amount in a SaaS-based travel solutions provider Bitla Software.

This is the sixth investment for MakeMyTrip in the travel technology space as it looks to provide a comprehensive platform for travel experiences for its customers.

As per the company’s recent filing with Nasdaq, Marketing and sales promotion expense increased 19.1% from $78.8 million in the quarter ending in March 2017, to $93.9 million in the quarter ending in March 2018. These expenses saw an increase due to the recent customer inducement and acquisition programme. While it led to some growth it added to the hotel booking business and brand advertisement expenses.

While MakeMyTrip’s merger with Goibibo helped it eliminate its competition but it has since been raked up its expenses on marketing as Goibibo it roped in Bollywood celebrity Deepika Padukone as its brand ambassador in 2017 and MakeMyTrip had brought in actors Alia Bhatt, Ranveer Singh and Diana Penty for its multi-TVC campaigns.

MakeMyTrip has made some strategic investments in different business verticals but its returns are yet to be seen. With more startups venturing into the travel domain, the competition is expected to increase.

Some startups competing with MakeMyTrip in the travel domain include Yatra.com, Cleartrip, among others.

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