RailYatri, an app that helps users with real-time information and ticket updates on trains, has raised new round of funds from all its existing investors, including Infosys co-founder and former Chairman of UIDAI Nandan Nilekani, Helion Ventures, Omidyar Partners and Blume Ventures. Interestingly, the three-year old startup had raised an undisclosed amount from the same set of investors in March this year.
While the company has not divulged the amount raised, it stated that the new round of funds will be utilised to accelerate growth and to enter new areas of service.
"We have witnessed an unprecedented organic growth over the last several months and are quickly moving in the direction of becoming the largest travel app in the country? Over the next 12 months we plan to establish RailYatri.in as a household name across the country", said Manish Rathi, chief executive officer and co-founder of RailYatri.in. Rathi started the company along with Kapil Raizada and Sachin Saxena in 2013.
"My ongoing interactions with the extended RailYatri team has made me all the more excited about the impact which RailYatri can bring in using smart combination of mobile, data, payments and analytics to the common man in India. Their prediction algorithms are already delivering time & money savings for the travelers," said Nilekani, whose major investments this year include those in healthcare startup Drishti Eye Care and data analytics firm Tracxn.
RailYatri uses deep-analytics technology and GPS to predict a train's delay, in addition to platform number, coach position, on-time history of a train and wait list confirmations and thus, assists passengers to take informed decisions. It also enables travellers to book essential services such as onboard meals, bus tickets, budget rooms, etc through the same app.
"RailYatri's strength lies in their ability to drive huge organic acquisitions at near zero costs. This positions them strongly to scale positive unit-economics transactions, and is one of the reasons they have been able to stand apart from the rest," said Rahul Chandra of Helion Ventures.