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India’s very competitive online booking space will see a lot of change over the next few years as a lot of business moves even more mobile, and also moves away from low margin airlines into hotels. This give Yatra enough money for now to compete.
Yatra.com, India’s second largest online travel agency by market share, has raised Rs 140 crore ($23 million)…led by new investors IDG Ventures India and Vertex Venture Holdings, a wholly-owned subsidiary of Temasek Holdings, the investment arm of the government of Singapore. This is fifth round of funding for travel services portal…was valued at about $400 million .
Yatra, which also counts Bollywood mega star Salman Khan as one of its investors and as its brand ambassador, will use the proceeds from this round of funding for branding, and expanding its hotels bookings business and to enhance its mobile platform.