Nandan Nilekani Invests in RailYatri
Infosys co-founder Nandan Nilekani has invested an undisclosed amount in train travel app, RailYatri.in.
In addition to the former Unique Identification Authority of India (UIDAI) chairman, RailYatri's existing investors Helion Ventures, Omidyar Networks and Blume Ventures participated in the latest funding round, RailYatri said in a statement.
In June last year, it had raised funds led by Helion Venture Partners along with Omidyar Network and existing investors Blume Ventures and Ujama. It did not disclose the sum it had raised. Till date, it has raised about $3 million.
"What excites me about RailYatri is the fact that this is a new-age product made by Indians for Indians. The RailYatri app, which intelligently harnesses the power of smartphones, data and mobile payments, has a huge opportunity of impacting the lives of millions of travellers," Mr Nilekani said.
RailYatri.in uses deep-analytics technology to make intelligent predictions that help travelers make decisions for their upcoming travel. The app uses a traveller's mobile GPS to predict a train's delay, in addition to platform number, coach position, on-time history of a train and if the waitlisted ticket will get confirmed.
"We are honoured to have Nandan Nilekani as our investor. His passion and success in using technology to transform lives for the common man - be it in Aadhar project which recently crossed a billion registrations or the recent Unified Payment Interface (UPI) - has been truly inspirational," RailYatri.in co-founder Kapil Raizada said.
The Helion Venture Partners-backed app currently serves nearly 2 million users per month.
Co-founded by Raizada, Manish Rathi and Sachin Saxena in 2014, the app provides information through crowd-sourcing.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)