Travel-tech Spotnana raises $75 million in Series B funding

Cloud-based travel technology startup Spotnana raised $75 million in series B funding led by a growth capital investment firm, Durable Capital Partners, with participation from existing investors Mubadala Capital and Blank Ventures, among others.

The company, in a statement on July 26, said it will use the new funding to accelerate hiring and drive faster adoption of its travel-as-a-service platform. Spotnana, however, did not disclose the valuation at which it raised the current round.

Founded in 2019 by Sarosh Waghmar and Shikhar Agarwal, Spotnana is a software-as-a-service platform for travel buyers and suppliers, providing travel inventory from global sources for ease of travel management.

"It is our mission to rebuild the infrastructure of the travel industry in order to bring freedom, simplicity, and trust to travellers," said Waghmar, who is also the chief executive officer (CEO). "To support our explosive growth, over the next year we expect to more than double our employee base again," he added.

Spotnana said its employee base has more than doubled in the past year, and currently stands at over 200. Headquartered in New York, Spotnana has its majority of the workforce operating out of offices in Bengaluru, Pune, and Mumbai.

Earlier, in September 2021, the company had raised $34 million in series A funding, co-led by ICONIQ and Madrona Venture Group, which have also invested in the current round, with participation from Decibel and Mubadala Capital.

Before that, the company also had an undisclosed $7 million seed round in 2020, also from ICONIQ and Madrona Venture Group including 8VC and Global Founders Capital.