Gurgaon-based travel services provider Yatra Online Pvt Ltd today said it has raised Rs 200 crore from Valiant Capital Management, Norwest Venture partners and Intel Capital for expansion purposes.
"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 Chief Executive Officer Dhruv Shringi said in a statement.
In addition, the funds will be used to accelerate expansion in the hotels and holidays segments, Shringi added.
Yatra currently provides reservation facility for more than 3,800 hotels across 336 cities in India and over 90,000 hotels around the world.
Last year, the company had picked up majority stake in Delhi-based ticketing services provider Travel Services International (TSI) for an undisclosed amount to strengthen its position in business to business (B2B) segment.
Yatra has in the past, received Rs 150 crore funding from investors such as Reliance ADA Group company Reliance Venture Asset Management, TV18 Group, Norwest Venture Partners and Intel Capital.
Commenting on the latest round of funding, Intel Capital Asia Pacific Managing Director Sudheer Kuppam said, "This investment is aligned with Intel's strategic objective of increasing broadband penetration in India through fostering entrepreneurship in compelling content and e-commerce opportunities."
Yatra registered a turnover of $500 million in 2010-11, Shringi said.
