Bengaluru-based ITILITE Technologies Pvt. Ltd, which provides a software-as-a-service platform to companies for managing their travel requirements, has raised Rs 30 crore ($4.2 mn) in a Series A funding round from existing investor Matrix Partners India and others.
A group of angel investors, including Helion Ventures founder Ashish Gupta, also participated in the round, a company statement said. Gupta has previously invested in companies such as Flipkart, MakeMyTrip and MuSigma.
According to the statement, the company plans to use the capital to grow its engineering team for the development of new capabilities and accelerate its sales and marketing efforts.
ITILITE was founded in 2017 by Mayank Kukreja and Anish Khadiya. Kukreja is an alumnus of IIT Delhi and IIM Ahmedabad while Khadiya is an alumnus of IIT Kharagpur and IIM Lucknow. Prior to ITILITE, both of them worked at consulting firm McKinsey and fashion e-tailer Myntra.
In November 2017, ITILITE had raised an undisclosed amount from Matrix.
The startup offers a SaaS platform that helps companies reduce travel costs and improve booking experience by giving incentives to employees to save on their travel expense.
“With this funding round, we are committed to bring our platform to more companies,” said Kukreja.
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