Mahindra Holidays and Resorts is acquiring a 12% stake in a Bengaluru-based travel and adventure gifting start-up Giftxoxo in order to boost its product offerings and revenue.
The investment wasn’t disclosed but is said to be strategic for the company. Kavinder Singh, MD & CEO of Mahindra Holidays states that the deal would benefit a customer base of 2 lakh with the expansion of its offerings.
Giftxoxo offers more than 4000 experiences and activities such as dinners on a yacht, paragliding, horse riding and so on. The brand’s parent company Nreach Online Services had received funding from Kshatriya Ventures in 2013.
Source: Times of India