Online movie ticketing portal BookMyShow raises over Rs 550 crore funding

Bigtree Entertainment, owner of online movie and events ticketing portal BookMyShow, said it has raised over Rs 550 crore in funding from a group of investors, led by US-based private equity Stripes Group.

Bigtree's existing investors - Network18, Accel Partners, SAIF Partners - also participated in the funding round, the company said in a statement on Tuesday.

This fresh infusion of funds comes at a time when BookMyShow has entered new international territories such as Indonesia and looks to transform into the preferred 'Entertainment Destination' within India.

"We are excited to welcome Stripes Group on board as our newest partner, which comes with a wealth of experience in digital entertainment asset. With BookMyShow being their first investment in the Indian market, alongside the display of confidence by our existing investors Network 18, Accel Partners and SAIF Partners, this is an overall testament to how they believe in our roadmap for growth and innovation within the entertainment space," said Ashish Hemrajani, CEO and Co-Founder, BookMyShow.

Founded in Mumbai (India) in 1999 and re-launched in 2007, BookMyShow is now present in over 350 towns and cities across India, currently meeting the entertainment demands of millions of customers.