India-based travel portal Yatra.com has raised Rs 140 crore ($23 million) in funding led by IDG Ventures and Temasek's venture arm Vertex Venture Management. Existing investor Norwest Venture Partners also participated. The funds will reportedly be used to accelerate Yatra's growth, helping solidify the company's position in the domestic hotels and holiday businesses, as well as for investments in mobile technology. Yatra last raised $14.5 million of Series D funding in 2012.
The travel service platform provides a reservation facility for more than 12,000 hotels in India and over 400,000 hotels around the world. Yatra's competitors include MakeMyTrip.com, Cleartrip.com and Expedia, among other companies.