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RedBus.in Gets Funding From Inventus And Seedfund
06 Jul 2009
Online bus ticketing company redBus.in has raised second round of funding by Inventus Capital Partners and Seedfund, who is an existing investor.
The funds will be used for three initiatives. Firstly, Increase their geographical presence from the current seven locations. Secondly, they will provide technological support to bus operators under the SAAS (software as a service) model for managing and aggregating their inventory. And thirdly, they will be launching new products including chartered buses that would be operated by them.
RedBus will stick to operate around the bus market in the country which is currently pegged at a staggering Rs 12,000 crore.
The booking platform currently books around 3,000 bus tickets per day. It has an inventory of over 500 bus operators covering over 5,000 routes across 15 states in India.
At present, RedBus has its presence in cities like Bangalore, Ahmedabad, Chennai, Delhi, Hyderabad, Mumbai and Pune.
Tags
redbus, seedfund, inventus capital, funding
Visit http://www.redbus.in/
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