FlightRaja secures 5 Million USD investment from NEA IndoUS

Bangalore, Jun 05 (UNI) FlightRaja, India's largest domestic ticket services provider, has raised an investment of 5 Million dollars from NEA Indo US Ventures, an US based venture capitalist firm, to leverage its activities from domestic services to overseas, Company CEO Vinay Gupta informed here today.

Speaking to newsmen Mr Gupta said that FightRaja, an innovative travel services company and also a largest domestic ticket services provider in the country was aimed to expand its operations from the present domestic circuit to overseas arena.

He said that the company had managed to secure a 5 million USD investment from NEA IndoUS Ventures, a venture capital firm of United States and will be utilized to introduce new products, leverage its head-counts and open up more sales offices across the country.

Mr Gupta has said that the addition of new investment would also enable the company to strengthen its leadership position in the travel industry by expanding its services beyond airline. With the addition of new investment the brand name also been renamed as 'Via' reflecting the significant role it plays through the networks it was creating in the travel domain.

He said that FlightRaja, which was committed to provide customers an unique experience by creating a world where travel was not only convenient but also assured of a reliable network and efficient services. The company within establishment of few months managed to won the confidence of the travelers and travel agents across the country thanks to the introduction of innovative travel services including first SMS based mobile booking for all airlines, Kiosk based booking for people on the move and online service for travel partners.

He said that within short span of its operations FlightRaja was able to reach Rs 2 crore turnover per day and with the perfect blend technology, expertise and human resources its head count was raised to 80 and likely to reach 145 in another two to three months.

He said that the new investment from NEA IndoUS Ventures, the company was all set to penetrate the global market with the capacity of providing a complete traveling system adhering with global standards, he said. "With the expansion of its operations into overseas the company's sales turnover was expected to increase four times from the present volume". Via has introduced many first of its kind initiatives as it was the first company to introduce mobile based search for instant fare details and ticketing on all airlines, kiosks, CRM software to ensure the highest level of services, Mr Gupta said.

Ms Vani Kola, Managing Director NEA-IndoUS Ventures, who also spoke on the occasion has said that Via was a pioneer in the travel industry already with the introduction of innovative travel solutions has made a remarkable achievement in a short span of time.

The travel industry promises an immense potential to grow in India and the funding was an important step towards her company's mission to support new ventures and innovative ideas.

UNI