Deal Talk: EaseMyTrip to raise $98 mn; SponsorChampz, MygameMate secure funds

Deal Talk: EaseMyTrip to raise $98 mn; SponsorChampz, MygameMate secure funds
Photo Credit: Pixabay
11 Dec, 2019

New Delhi-based online travel company EaseMyTrip is all set to go public with its initial public offering (IPO) and is likely to raise $98 million via the process, multiple media reports said.

The company is looking to file the initial document, called the draft red herring prospectus, with the capital markets regulator SEBI soon, The Economic Times said citing sources.

According to the same report, JM Financial and Axis Bank will manage the issue.

The company had been in the news and the speculations of its IPO plans have been doing rounds since the beginning of the year.

Two major online travel companies of India - Makemytrip and Yatra are listed on New York’s Nasdaq. According to media reports, Cleartrip is also looking at an IPO in two-three years.

EaseMyTrip was started in 2008 by brothers Rikant Pitti, Nishant Pitti and Prashant Pitti. The company offers deals on flight booking, hotels and holiday packages.

SponsorChampz raises funds 

Haryana-based SponsorChampz, an AI-enabled startup for athletes and influencers, has raised an undisclosed amount in its Series A round of funding from a pool of high net worth individuals or HNIs from Delhi and Mumbai.

Earlier this year, SponsorChampz was successfully incubated by ANDC inStart Foundation with initial seed investment.

The company was founded in 2017 by Mata Naga Sneha Sai and Chetan Sehgal. It is a platform to connect athletes, influencers and brands. The platform aims to disrupt the industry by making a data-driven decision-making tool. It currently has signed more than 600 influencers.

MyGameMate secures $100,000 in angel round

An online multiplayer eSports platform for mobile gaming, MyGameMate, has secured $100,000 in an angel round funding from “Jindagi Live Angels” led by Deepak Maheshwari and other angels.

According to a company statement, the company will be using these funds to strengthen the technology platform, develop more multiplayer games and to organise tournaments.

 MGM aims to provide recognition to video game players like any other sportsmen, athletes or celebrities globally. 

 The company is live with their six games from different genres and has already arranged PUBG tournaments. 

MGM, founded in 2019, was recently picked up by India Accelerator Winter 2019 batch.