Bangalore: Online bus ticketing & cab booking platforms, YatraGenie Services Pvt. Ltd. raises an unrevealed amount in a series A round of funding from Ash Bhardwaj – Silicon Valley’s entrepreneur and investor. The funding round will be utilized towards extension in Karnataka and to boost the company’s marketing in Telangana and Andhra Pradesh. The firm also intend to expand its wings to 100 more cities by the end of year 2015. As per the release, the investor & driven leader Ash Bhardwaj will be joining as YatraGenie board of member.
Established in 2013 by Renil Komitla, YatraGenie is a one-stop travel solution to customers looking for budget travel options as the firm works on a commission based business model. Currently servicing in 32 cities including Bangalore, Nellore, Hyderabad, Secunderabad, Visakhapatnam, Rajahmundry, Anantpur, Guntur, Kurnool, Eluru and many more, the company claims to have gross revenues of over Rs.50 crores. Believing in providing the best service at the best price to its customers, YatraGenie mandates includes GPS tracking systems, panic buttons and background checks for certified drivers and live tracking.
Speaking about the funding, Renil Komitla, CEO, YatraGenie, says, “I am pleased to welcome Ash Bhardwaj on board. His role as an investor and board member will help us exponentially scale our business. Ash’s high level industry experience and knowledge will bring unique insights to fuel our next phase of growth”.
On the other hand, concerning the YatraGenie brand, Ash says, “The online taxi service market has seen robust growth over the last few years. In the coming years, there will be a significant increase in the demand for quality taxi services. YatraGenie, with its dynamic ideas and rapid expansion plans has become a key player in the taxi service industry. I am delighted to be a part of the YatraGenie team and I look forward to contributing to the growth of the company”.