The Network Enterprises Fund (NEF) of IFMR Ventures made its first investment of Rs. 50 million in the Rural Tourism Network Enterprise (RTNE).
This investment in RTNE is expected to create access to markets and finance for tens of thousands of rural tourism SMEs. RTNE aggregates information about rural tourism SMEs and distributes this information via a web platform. This will also open up fundamentally new avenues for the domestic traveller market looking for new and affordable travel experiences.
Talking about the investment, Deepthi Reddy CEO of IFMR Ventures says, “Rural Tourism Network Enterprise has tremendous potential for scale. It will open up unexplored markets to a whole new segment of travellers in India. Rather than the impersonal feel of luxury resorts, which are usually located far away from local people, food and culture, RTNE offers an authentic, rural travel experience at a fraction of the cost, typically under Rs.500 a night”.
With a footprint in 6 states and a network of almost 1000 stay options; the investment from NEF will fuel RTNE’s growth strategy to go pan-India. RTNE is led by a management team with extensive experience in tourism and rural distribution.
Source : IFMR Blog
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