Intel Capital, Intel Corporation’s global investment organization today announced its plans to invest $17 million in three Indian companies – Yatra.com, a leading online travel portal, BuzzInTown.com, an events-oriented social network extensible across web and mobile platforms and Emnet Samsara Media Pvt. Ltd, an out-of-home advertising company focusing on the Indian public transportation market.
The funding will come from the $250 million Intel Capital India Technology fund.
“Intel Capital continues to demonstrate the stage-agnostic nature of our investing style by supporting any lucrative technology companies in various and any stages of their growth and examples of these are Yatra which is a late stage deal, BuzzInTown.com which is an early stage deal and Emnet Samsara which is in a strong position with product roll-out and increasing customer traction” said Sudheer Kuppam, managing director, Intel Capital, India, Japan, South East Asia and Australasia.
Yatra.com is a leading travel portal and among the top three providers of business travel management services in India. The company is headed by Dhruv Shringi who is the co-founder and CEO.
Yatra will use Intel Capital funds to accelerate business growth, upgrade technology to add new products and features to their website and fund potential acquisition opportunities.
In the long term the travel industry in India is expected to grow at healthy rate, with economic activity expected to drive corporate travel and increasing affluence expected to drive retail leisure and holiday travel.
Intel Capital’s investment will be used to help Yatra become a full service provider, gain from increasing volume-based incentives and explore cross sell opportunities in various market segments (corporate travel, leisure, online travel bookings and hotel bookings).