RailYatri raises funds from Omidyar Network, others

Press Trust of India PTI Automatic New Delhi

Travel startup RailYatri today said it has raised funds from Omidyar Network and other existing investors in fresh round of fundraising.

Though the company did not disclose the amount it has raised, people in the know of the development said it was close to USD 10 million (over Rs 66 crore).

The Series B round of funding led by Omidyar Network also saw participation from all other existing investors including Nandan Nilekani, Blume Ventures and Helion Venture Partners, RailYatri said in a statement.

"We plan to reach 10 million annual transaction rate this year, and this round will help us in achieving our goal," RailYatri Co-founder and CEO Manish Rathi said.

The company's low cost of acquisition allows growth with margins, and RailYatri is now expanding into budget hotels and packages, for which it is aggressively hiring in all verticals, he added.

"We continue to be very impressed by the growth, consumer feedback and large-scale impact of the RailYatri platform," Omidyar Network Investment Partner Siddharth Nautiyal said.

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First Published: Apr 27 2018 | 2:30 PM IST