Yatra.Com raises Rs 140 crore from IDG Ventures, others

Travel portal Yatra.Com today said it raised Rs 140 crore in a new round of funding from IDG Ventures, Vertex Venture Management and existing investors.
Yatra's existing investors include seed investor Norwest Venture Partners.
The fresh capital will be used to accelerate growth plans, Yatra said in a statement. It will also help Yatra invest in mobile technology and strengthen its position in the online travel industry, it added.
Yatra's existing investors are Norwest Venture Partners, Reliance Capital, Network 18, Intel Capital and Valiant Capital Partners.
"Over the years, Yatra.Com has witnessed consistent growth and has created a strong brand for itself in the industry. We are focused on expanding our reach in the market and further diversifying our business by growing the hotels and holiday packages business," co-founder and Chief Executive Officer Dhruv Shringi said.

The new investment will enable Yatra to enhance its mobile technology and strengthen execution capabilities, he added.

"The investment in Yatra represents our Fund II's strategy of selective growth investments in market leading technology companies. This is a highly experienced and cohesive team that has demonstrated an outstanding track record and shown continued growth in the expanding online travel market in India," IDG Ventures India Advisors Founder and CMD Sudhir Sethi said.
Launched in August 2006, Yatra offers travel-related services including airline reservation, hotel bookings, holiday packages, rail and bus tickets.
It provides reservation facility for more than 15,000 hotels across 450 cities in India and over 200,000 hotels around the world.