FlightRaja raises US $ 5 Million from NEA Indo-US

Bangalore, Jun 5 (UNI) FlightRaja, leading domestic travel ticket service provider, has raised US Dollar five million from NEA Indo-US Ventures to leverage its activities from domestic services to overseas, Company CEO Vinay Gupta said today.

Talking to newspersons, Mr Gupta said the company plans to expand its operations from the present domestic circuit to overseas arena.

The company would introduce new products, increase head-count and open more offices across the country.

Mr Gupta said the new investment would enable the company to strengthen its leadership position in the travel industry by expanding its services beyond airline.

The brand would be renamed as 'Via', reflecting the significant role it plays through the networks it had been creating in the travel domain.

"With expansion of operations into overseas, the company's sales turnover is expected to increase four times from the present volume," he said.

NEA-Indo US Ventures Managing Director Vani Kola said the travel industry promises an immense potential to grow in India and the funding was an important step by her company to support new ventures and innovative ideas.

UNI