Helion leads $6.5 Million series C round in redBus

By | 17 May 2011 | 13:38

Pilani Soft Labs, makers of online bus ticketing solution redBus, said in a press statement that it has raised $6.5 million in Series C funding. The deal was led by existing investor Helion Venture Partners. Seedfund and Inventus Capital Partners, also existing investors, participated in the round.

Startupcentral was first to report the Series C round. redBus was founded in 2006 by BITS Pilani alumni Phanindra Sama and Charan Padmaraju. The company has crossed 3.5 million tickets and reports gross bookings of Rs 120 crore. The Bangalore-based company will use the funds to expand its geographic presence.

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