Yatra.com raises Rs 140 cr in funding
Online travel firm Yatra Online Travel Pvt Ltd today announced a Rs 140 crores funding round led by IDG Ventures and Vertex Venture Management Pte Ltd.
The fresh capital will be used to accelerate the company's growth plans by enabling Yatra to further strengthen its leadership position in the domestichotels and holidays business, strategically invest in mobile technology, and strengthen its position as a market leading brand in the online travel industry.
"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," said Dhruv Shringi, co-founder and CEO of Yatra.com.
This new investment will enable the company to enhance mobile technology, and also strengthen execution capabilities, he added.
Sudhir Sethi, Founder, Chairman and Managing Director of IDG Ventures India Advisors, said, "The investment in Yatra represents our Fund II's strategy of selective growth investments in market leading technology companies. Driven by Dhruv's exceptional leadership, the Company has achieved market leadership in the domestic hotels and packages segment."
Joo Hock Chua, Managing Director and Chief Investment Officer of Vertex Venture Management, said, "Vertex's investment thesis is to invest in great companies and build them into champions. Yatra is such a company with a trusted name and a dominant position in the domestic travel industry, helmed by a strong management team under the leadership of Dhruv."
(Posted on 16-04-2014)