Nexus Venture Partners has invested Rs 7 Cr in MagicRooms Solutions Private Limited. www.MagicRooms.in - the online platform of the company offers online hotel bookings.
MagicRooms was founded by Niranjan Gupta in 2009. He is also the founder of www.flightraja.com, B2B airline booking website.
The company is launching a web based Global Distribution System of hotel rooms. Through the web-based hotel GDS, the company will offer inventory of hotels and service apartments across the country to travel agents on pan-India basis. The hotel will need to pay a service charge to Magicrooms.
ANZ Banking Group, Australia’s fourth largest bank by market capitalization, is weighing its options to sell a part or entire of its life insurance and pension products unit. The aim of this divestment is to raise capital funds.