Bangalore-based bus ticketing company redBus.in has launched its mobile app to enable users to book tickets on the go. The app offers bus tickets on more than 10,000 routes across 1000-plus bus operators across the country. It is currently available on Android (search for redBus on Google Play Store) and Windows phones (search for redBus [...]
The company is said to be in talks with investors and plans to use the funds to plans to expand its presence to eastern India. It currently has a presence in the northern and western markets.
Sama co-founded Redbus in 2005 with BITS Pilani batchmates Sudhakar Pasupunuri and Charan Padmaraju. The company now employs 400 people and offers ticketing for over 1.8 lakh bus routes in India.
Bus travel has been growing at 25 per cent every year, enabling the Bangalore-based company to grow at an average rate of 250 per cent year-on-year.
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 [...]
![[Scoop] redBus to raise $6 mn Series C from existing investors](http://i1.wp.com/startupcentral.in/wp-content/uploads/2011/05/logo-redbus.gif?resize=315%2C157 "[Scoop] redBus to raise $6 mn Series C from existing investors"){kind=logo}
Bangalore-based Pilani Soft Labs, makers of online bus ticketing service redBus has raised $6 million in Series C funding from existing investors Helion Venture Partners, Inventus Capital and Seedfund. This takes the total venture capital raised by the company to $9.5 million. Seedfund, which seed funded the company in 2008, remains the largest shareholder, said [...]
Kanwal Rekhi’s Inventus Capital has made a Series B investment (amount undisclosed) in in Bangalore-based Pilani Soft Labs , makers of online bus ticketing service redBus — press release. This is redBus’ second round of funding since its inception in 2005. The company had raised about $1 million in seed money from Seedfund last year, [...]
Accelerator to angel to VC flow still struggling to find equilibrium in India
I had fun moderating the panel on early stage financing at India Internet Day. VCCircle has an interesting article. The key issues are as under: 1. Too few deals are progressing from accelerators to angel, and from angel to Series A. Only five per cent of deals going from accelerators to Series A might not [...]
The early ecommerce marketplace pioneers: eBay class of 2000-2005
TechCrunch recently published an article I wrote about how the eBay class of 2000-2005 helped shape ecommerce in Silicon Valley and continues to innovate and move the sector forward. By understanding what shaped this class’ experience and examining where these alums are today, we identified the most important industry trends and start to see a [...]
The founder’s guide to surviving the Series A crunch
The Indian entrepreneurship and venture capital ecosystem is fast maturing. Today we have more early stage funds than ever. This fund availability will only improve, aside from the temporary blips caused due to macroeconomic ups and downs. We are in one such ‘crunch’ today, where even though seed and angel funds are writing cheques with [...]
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