RailYatri, a platform for booking train tickets, has secured funding totaling Rs 28.58 crore or $3.44 million, comprising a combination of equity and debt. Mirabilis Investment Trust led the funding round, joined by NRJN Family Trust, Omidyar Network, and Blacksoil. The company's board approved issuing Series C CCPS shares and non-convertible debentures (NCDs) to raise capital. Mirabilis Investment Trust contributed Rs 12 crore, while NRJN Family Trust and Omidyar Network invested Rs 6.9 crore and Rs 5.69 crore, respectively. Blacksoil provided debt funding of Rs 4 crore.
RailYatri had previously raised Rs 13.5 crore from existing investors in the Series C round and secured Rs 10 crore in debt from Alteria Capital in 2022. The company's valuation post-funding is estimated to be around Rs 912 crore or $110 million. RailYatri offers train ticket information and operates the IntrCity SmartBus service for intercity travel. They introduced a 'flexi-ticket' feature allowing last-minute changes to travel plans.
Following the latest funding, NRJN Family Trust holds the largest stake in RailYatri at 22.82%, followed by Omidyar Network at around 15%, and co-founder Manish Rathi with a 13.12% share. RailYatri's revenue surged 2.3 times to Rs 273.7 crore in FY23, while losses decreased by 58.6% to Rs 18.18 crore, attributed to improved scale and operational control.
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