BANGALORE: Yatra.com has successfully raised 140 crore funding from IDG ventures India and Vertex Venture Holdings together with the existing investors. The second largest online travel agency also received cash pumping from Norwest Venture Partners, Intel Capital, TV18 Group and Reliance Venture Asset Management who already have investments in Yatra, reports Economic Times.

Dhruv Shringi, co-founder and CEO said, “The investors have also committed an additional 140 crore, which will be used for acquisitions in future.” Even though there was no official information about the post funding value of the company, sources close to the matter reports that Yatra was valued at 2,410.8 crore.

"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," said Sudhir Sethi, founder, chairman and managing director of IDG Ventures India.

Founded in 2006, the Gurgaon based firm managed to secure over 753.4 crore funding till date. The fresh round of funding will be used to optimize the mobile platform and to expand its hotel booking chains. With Salman Khan as the brand ambassador, Yatra will also keep aside a portion of the money for branding as well.

"As the market becomes increasingly mass-based, with Smartphone penetration heading towards 20 percent, we want to increase our brand presence, and ensure that we remain leaders in the category," added Shringi.  
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