Prosus joins India’s travel story with Ixigo bet

Dutch investor pivots from tech and fintech, plots new route in India’s $100 bn travel and hospitality sector

- AKSHARA SRIVASTAVA & GULVEEN AULAKH

Dutch technology investor Prosus has identified India’s travel and hospitality sector as a fast-growing space and is open to investing in more travel firms in the country.

This follows Prosus’ recent investment in traveltech platform and online travel aggregator (OTA) Ixigo.

In early October, the company bought a 10.1 per cent stake in Ixigo’s parent, Le Travenues Technology, for €1,296 crore. By mid-October, it increased its holding to 15.16 percent after acquiring an additional 5.06 per cent stake from existing investors Peak XV Partners Investments Vand Elevation Capital through off-market transactions.

“The travel and hospitality space is an interesting one, and that’s one of the reasons we invested in Ixigo.

Checking into growth

■ Prosus calls travel its next focus sector after consumertech, fintech, and AI

™ India's low online travel penetration offers strong growth potential, says Prosus Ventures’ Gaurav Kothari

™ Prosus has already invested $8.6 bn in India across Swiggy, Meesho, and Urban Company