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HummingBird raises $4 Mn fund
Bangalore: HummingBird, a service apartment operator, has landed on a funding of dollar four million from Helion, a venture group. The capital will be put to use for its expansion and the accelerating its operations.
There are plans of expansion of its current structure with 900 rooms to 2, 500 rooms in the coming years. Moreover, HummingBird also expects to increase its revenue from 
11 crore in FY07 to 100 crore in FY11. The company which is based in six Indian cities, deal with clients like Microsoft, Cisco, Goldman Sachsand and Helion.
The venture firm had raised $210 million, which took the capital under management to $350 million from $140 million. There are various other sectors where the firm has funded like mobile VAS company Kirusa, outsourcing firm Anantara Solutions and the travel portal MakeMyTrip. As according to Helion founder Kanwaljit Singh, "With pressures on the bottomline, there is a huge need gap for a world-class service provider who offer corporates a one-stop solution for all their accommodation needs. HummingBird?s impressive client roster of 45 leading corporate organisations makes it a compelling investment proposition."
Source: IANS
11 crore in FY07 to 100 crore in FY11. The company which is based in six Indian cities, deal with clients like Microsoft, Cisco, Goldman Sachsand and Helion.
The venture firm had raised $210 million, which took the capital under management to $350 million from $140 million. There are various other sectors where the firm has funded like mobile VAS company Kirusa, outsourcing firm Anantara Solutions and the travel portal MakeMyTrip. As according to Helion founder Kanwaljit Singh, "With pressures on the bottomline, there is a huge need gap for a world-class service provider who offer corporates a one-stop solution for all their accommodation needs. HummingBird?s impressive client roster of 45 leading corporate organisations makes it a compelling investment proposition."
Source: IANS
