Noida-based long-distance travel app, RailYatri has raised an undisclosed amount of Series B funding led by Omidyar Network.
The funding round saw participation from other existing investors including Nandan Nilekani, Blume Ventures and Helion Venture Partners.
With the newly raised funding, the startup plans to reach 10 Mn annual transaction rate this year.
Commenting in the funding, Manish Rathi, Co-founder and CEO RailYatri said, “We are overwhelmed by the travellers response to our platform, and at the current growth rates we expect to be India’s largest traveller destination this year. Our low cost of acquisition allows growth with margins and RailYatri is now expanding into budget hotels and packages, for which we are aggressively hiring in all verticals.”
Founded by Manish Rathi, Kapil Raizada and Sachin Saxena in 2011, RailYatri is a crowdsourced platform for trains and travel-related services. It provides comprehensive information on train status, reservation status, seat availability, amenities etc.
On the investment, Siddharth Nautiyal, Investment Partner, Omidyar Network, said “We continue to be very impressed with the growth, consumer feedback and large-scale impact of the RailYatri platform. They are constantly innovating to improve the travel experience for millions of travellers every day. RailYatri’s India-first solution underscores frugal innovation with its data and information-centric approach to travel commerce.”