The Hindu Business Line : Online travel services co launched

NORWEST Venture Partners, a technology venture capital firm, announced on Monday that it has partnered with Reliance Capital, TV 18 group and travel industry executives to form Yatra Online, the first online and centralised travel services company for the Indian market.

Mr Promod Haque, Managing Partner of NVP, said Yatra is slated for launch in June or July after the details about infrastructure and other investments are finalised. He declined to give details of the investment to be made by the partners.

He said the rationale behind aligning with Reliance Capital, a member of the Anil Dhirubhai Ambani Group, and TV 18 was to benefit from the two group's vast infrastructure relevant to the business. TV 18's moneycontrol.com, could be leveraged for payment services application while the Reliance group's electronic information facilities could provide an immense fillip to Yatra Online's plans to extend a 24/7 online centralised travel services through its call centre and its Internet portal to travellers across 5,000 cities in India.

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