BookMyShow, an India-based entertainment ticket agency backed by local media group Network18’s corporate venturing unit, has seen venture capital firm Accel Partners invest $18m.
The money is being used to buy shares from Capital18, Network18’s corporate venturing unit that also owns stakes in travel agency Yatra and DEN Networks, according to news provider VCCircle.
VCCircle said BookMyShow was now valued at more than R250 crore ($45m) compared to Network18’s investment of less than R20 crore five years earlier.