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Polama.com gets Angel Funding
By siliconindia
1.5 crore in angel funding from a consortium of angel investors, lead by Rehan Yar Khan and Blume Ventures. The company plans to use the fund to build operations, customer service and marketing.
Launched in December 2010 by M D Ramaswami and Dilip Panicker, Polama is a one stop shop for holidays on the web and has over 5000 holiday packages from several branded providers like SOTC, Travel Tours, Thrillophilia, Yatra and MakeMyTrip. Users can save time, effort and cost by using the site to find the holiday that best suits their needs.
M D Ramaswami, Founder, Polama, said, "We are excited to bring the new investors on board. They are not only very successful entrepreneurs' and investors but also come with great background in the online consumer space."
Rehan Yar Khan has 16 years of experience building and managing companies. He has been an angel investor for the past three years involved in fast growing startup companies. Khan said, "Polama has demonstrated all traits for a good investment. It has a solid, experienced team and a unique value proposition in one of the fastest growing domains." He has also invested in companies like Druva, Sapience and Kwench.
Blume Ventures is an angel and seed venture fund that backs start-ups with both funding as well as active mentoring and support. It has a team with both investing as well as operating experience. Blume Ventures is supported by a global group of advisors and deep domain experts.
Karthik Reddy, Managing Director with Blume Ventures said, "M D Ramaswamy and Dilip make a great team. They have developed their passion for travel with their deep technical backgrounds into a career option and identified gaps in customer preferences and demand. These are important problems to solve as the first generation of online travel pursuits mature to open up more interesting niches."