Indian travel portal takes home INR140 crore in fifth financing

By VCPOST Staff Reporter

Apr 17, 2014 10:33 AM EDT

Indian online travel agency has closed INR140 crore in a funding round with IDG Ventures India and Vertex Venture Holdings as the lead investors. The deal serves as an indication of investors' increasing interest in consumer web firms, according to The Economic Times.

IDG Venture India founder Sudhir Sethi said: "We have allocated about one-third of our second fund for investments in technology companies that are expanding and will offer a clear path to exit within three to four years, Yatra is in this category."

Previous investors Norwest Venture Partners, Intel Capital, and Reliance Venture Asset Management also contributed to the said round. Under the terms of the investment deal, the institutional investors now have an 80% interest in the travel firm. They have also pledged another INR140 crore for future acquisitions of Yatra, the report detailed.

Sources familiar with the transaction said this funding round gave Yatra a valuation of $400 million (INR2,410.8 crore). To date, the Gurgaon-based company has raised a total capital of $125 million (INR753.4 crore), The Economic Times reported.

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