NEW DELHI: Online Bus booking company Travelyaari has raised $7 million (Rs. 46.7 crore approx.) from its existing investors, Bennett Coleman & Co (BCCL), Gujarat Venture Finance among others in series B funding round.
The company had $3 million, earlier in June from BCCL, Gujarat Venture Finance and Centre for Innovation Incubation and Entrepreneurship (CIIE).
The company plans to use the fresh capital for to facilitate product development, scale up its business, enhance its service network and expand online penetration of bus bookings, according to the company’s statement, as per ET reports. Over 5,000 road travel service providers will be integrated with the platform, the reports further stated.
Travelyaari was founded by Aurvind Lama and Prateek Nigam and is operated by Mantis Technologies Pvt. Ltd. Its competitors include Goibibo, Yatra, MakeMyTrip, Redbus, among others.
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