Cox & Kings founder and promoter Urrshila Kerkar has led the Series B funding round for NCR-based holiday planning startup WeAreHolidays. The company has secured USD 7.7 Mn in this round. She has reportedly picked up a 50% stake in the company, in an investment facilitated in her personal capacity.
The startup plans to use this funding to relaunch its app on the Android and iOS and to develop the company’s social media-driven approach to travel. The relaunched app will allow users to access information regarding their trips, facilitate online booking, and offer discount vouchers as well. The Hindu reports that with this development, Kerkar would now be the largest shareholder in the travel company.
Commenting on the development, Deepak Wadhwa, CEO and founder, WeAreHolidays told The Hindu,
“It would be a strategic partnership with a listed company like Cox & Kings since its promoter and founder has now invested in Series B in our company. We exist in a different space in the social media aspect of travel, where Cox & Kings does not have a presence.”
Deepak also revealed that Urrshila has bought out stakes from a few angel investors to become the largest shareholder in the startup.
The startup was launched in 2011 by three ex-MakeMyTrip employees, Deepak Wadhwa, Harkirat Singh, and Mohit Piplani. WeAreHolidays works on a technology-enabled managed marketplace model to help people to research, plan, customise, and book their holidays. It leverages its platform to create holiday itineraries and services them through its supplier marketplace.
The startup raised an undisclosed amount in angel funding from Blume Ventures, Mumbai Angels, Sachin Bhatia and GSF in 2013. In August 2014, it secured undisclosed amount in Series A funding led by Matrix Partners and existing investors Blume and GSF Superangel Investors. Other players in this segment include, MakeMytrip, Yatra, Deyor Camps, ClearTrip etc.