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Cleartrip raises $18.5 million in 3rd round of funding

Online travel company Cleartrip.com has received $18.5 million in third round of funding, which brings the total investment in the company to $30.2 million.

Venture capital firm Draper Fisher Jurvetson led the round with $10 million investment while Mahindra Group and the four VC firms that had previously invested in Cleartrip pumped in the rest $8.5 million.

Online travel company Cleartrip.com has received $18.5 million in third round of funding, which brings the total investment in the company to $30.2 million.

Venture capital firm Draper Fisher Jurvetson led the round with $10 million investment while Mahindra Group and the four VC firms that had previously invested in Cleartrip pumped in the rest $8.5 million.

According to Mohanjit Jolly, executive director, DFJ, the firm has backed Cleartrip because its team has experience in the sector, been efficient with money and has plans to roll out attractive technology to attract and retain customers.

Sandeep Murthy, chief executive officer, Cleartrip, has said now that the company has taken more funds than required, it will use the money to improve the website’s services and build the company’s offline presence and for acquisitions. (Source: LiveMint)

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