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Online travel company Yatra on Wednesday announced a Rs 140 crore funding round led by new investors IDG Ventures and Vertex Venture Management Pte. Ltd, the company said in a statement.
Yatra Online Travel Pvt. Ltd’s existing investors, including seed investor Norwest Venture Partners (NVP), also participated in this round.
The fresh capital will be used to accelerate the company's growth plans by enabling it to further strengthen its leadership position in the domestic hotels and holidays business, strategically invest in mobile technology, and strengthen its position as a market leading brand in the online travel industry, the statement added.
Dhruv Shringi, Co-founder and CEO of Yatra.com, said, “We are focused on expanding our reach in the market and further diversifying our business by growing the hotels and holiday packages business. This new investment will enable us to enhance our mobile technology, and also strengthen our execution capabilities.”
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