VC-backed Yatra bolts on Travelguru

Reliance Capital, Network 18, Intel Capital and Valiant Capital Partners are among Yatra's other venture backers.

Travelguru will now be 100% owned by Yatra, although it will continue to operate as a separate entity under its existing brand name. The acquisition is hoped to strengthen Yatra.com's positioning in the Indian online travel space, particularly as an aggregator and seller of domestic hotels and holidays in India.

Travelguru is India's largest hotel distribution network, offering access to more than 6500 hotels in India and 72,000 hotels worldwide.

"We seeded and launched Yatra.com six years back and are immensely proud of the company's successful growth and execution," said NVP Managing Partner Promod Haque, who chairs Yatra's board. "We believe that this acquisition will significantly broaden and diversify Yatra's business and marks an important milestone for the future."

Gurgaon-based Yatra received $45.2 million in a growth-financing tranche led by Valiant Capital in April 2011. Existing investors including NVP and Intel Capital also participated in the round, which was slated to boost the company's sales and marketing units as well as expand its hotels and vacations business via acquisitions.

Yatra claims to be India's leading online travel company, providing customers access to its network of more than 5,000 hotels across 336 cities in India and more than 90,000 hotels worldwide.

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• Topics
• Consumer
• South Asia
• Portfolio management
• Reliance Capital
• India
• Norwest Venture Partners
• Consumer
• Growth capital
• Valiant Partners Co.
• Intel Capital