Yatra gets $45m of new funding
Digital travel services firm Yatra.com has received INR200 crore ($45.2 million) in a growth-financing tranche led by Valiant Capital and included participating from existing investors including Norwest Venture Partners and Intel Capital.
The funding is slated to boost Gurgaon-based Yatra's sales and marketing units as well as expand its hotels and vacations business via acquisitions. "This round of funding will enable us to broaden our reach and brand awareness in tier two and tier three towns, which are experiencing tremendous growth in e-commerce," Yatra's CEO Dhruv Shringi publicly said. "In addition, we will use the funds to accelerate our expansion in the hotels and holidays segments."
Norwest Venture Partners was among Yatra's seed investors in 2006. Yatra claims to be India's leading online travel company providing customers access to its network of more than 3,800 hotels across 336 cities in India and more than 90,000 hotels worldwide.
Earlier this week, VC-backed Indian travel portal Cleartrip Travel Services also received a $40 million capital injection from online travel and management firm Concur Technologies Inc. In March, Sequoia-backed travel services provider VIA announced it would raise up to $100 million from a combination of private equity and venture capital investors to fuel its global growth plans.
More on South Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.