RailYatri raises over Rs. 100 crore in funding: Details here
What's the story
RailYatri, a travel-tech start-up, has raised over Rs. 100 crore in the latest funding round led by Entrust Family Office (NRJN Family Services), Infosys co-founder Nandan Nilekani, and Samsung Venture Investment. The fund-raise, which is said to be a part of the company's Series B round, also saw participation from existing investors like Omidyar Network and Blume Ventures. Here's more about RailYatri.
RailYatri
RailYatri: A start-up with an aim to simplify travelling experience
Founded by Kapil Raizada, Manish Rathi and Sachin Saxena, RailYatri is the one-stop shop for train-related information for millions of travelers in the country. The company has a dedicated website as well as a mobile application that provide access to a number of features, including real-time information on live train status, PNR Status, seat availability predictions, fare calculator, and more.
IntrCity
Plus, the company has its own bus network, IntrCity
Just last year, RailYatri had also forayed into intercity bus services through its dedicated platform, the IntrCity. The new platform has a fleet of 84 SmartBuses that come loaded with features like onboard washrooms, Wi-Fi connectivity, on-board infotainment, and CCTV cameras as well as AI-enabled driver alert system. The start-up will deploy the fresh funds to expand its bus fleet to 2,000 by 2022.
Investment
Details about the investment
According to reports, RailYatri has received more than Rs. 100 crore in the latest round of funding. Out of the total amount, Entrust Family Office (NRJN Family Services) has infused Rs. 43.02 crore and Samsung Venture Investment has invested Rs. 14.03 crore. Besides that, Omidyar Network and Blume Ventures have also invested Rs. 11.58 crore and Rs. 10.08 crore, respectively.
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The funds will help us in expanding our network: CEO
Talking about the latest fund-raise, Manish Rathi, the co-founder and CEO of RailYatri, said, "We have been expanding exponentially and now positioned ourselves quite firmly in the inter-city mobility segment with our brand, IntrCity." He further added, "The latest investments will help us further expand our IntrCity SmartBus network and enhance our tech platform" in the near future.