Yatra.com Raises $14.5 Million In D Round Of Funding According To SEC Filing; Doesn’t Acknowledge it
Leading Indian Online Travel Agent (OTA) Yatra Online has raised $14.5 million in series D round of funding according to a SEC filing. This news was first reported by Techcircle.in
According to the SEC disclosure Yatra is raising the capital sum through Series D preferred which is convertible to common stock. Even though Yatra CEO Dhruv Shringi has apparently denied any such fund-raising to Techcircle and also avoided questions about the SEC filing, experts are guessing that this can very well be the pre IPO funding.
The OTA acquired online hotel aggregator TravelGuru from Travelocity earlier this week making it a big aggregator of hotels online (6500 in India and 72000 worldwide) in a deal which is being pegged at around Rs 100 Crore making it Yatra’s third acquisition after BuzzinTown and MagicRooms.
According to the SEC filing Yatra has 5 investors even though company’s own website lists only four currently – Reliance Venture Asset Management, TV 18 Group, Norwest Venture Partners, Intel capital and Valiant Capital Management. It is widely believed that the current funding will be used for general corporate purposes including salaries of corporate executives.
What looks like a heated battle between Yatra.com and Makemytrip.com, one can say that the OTA is far from ending its acquisition-spree and might look at more lucrative targets in the holiday segment.
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