Travelyaari, an online marketplace for bus ticket booking, has secured US$7 million in Series B funding from Gujarat Venture Finance Ltd (GVFL) and Bennett Coleman & Co Ltd, the parent of Times of India, with participation from a few other investors.
The company will use the funds for product development and business growth, in addition to augmenting its service network and increasing the online penetration.
“More than 5,000 road travel service providers will be integrated with the platform, along with more channel partners and agents. Travelyaari will also be looking to increase its customer base by targeting the middle class segment across India,” the company said in a statement.
Founded in 2007, Travelyaari is a bus ticketing platform, which recently entered three new verticals — hotels, tours and activities — to become a one-stop solution for road travels. In addition to these services, the platform also offers enterprise level solutions (ERP) to more than 2,000 bus transporters through BusCRS. It has also partnered with other travel aggregators (OTAs), both online and offline.
Over 4,000 operator outlets and 5,000 direct agents work on its platform.
The company has earlier raised US$3 million in Series A funding.