Inventus Capital to Fund Redbus.in
We’ve blogged about redbus.in earlier, and kept you updated on redbus.in and other developments in the non-air travel ticketing sector. Redbus.in is a travel-based startup by young entrepreneurs from BITS-Pilani. Networking with travel-agents and bus service providers across the country, Redbus.in revolutionised bus booking facilities, with Redbus.in offering options to book via credit card or cash, online or offline, among others. Booking via SMS and GPRS has also been introduced.
In a recent interview posted on chubbybrain.com, the CEO, Phanindra Sama said that they also aim to target non-Internet users. They do this by providing technology support to bus-ticketing operators who manage heavy volumes. They provide inventory-management SaaS (Software as a Service) to such operators and take a cut on the larger transactions.
Pilani Soft Labs Pvt Ltd, the company behind bus ticketing service redBus, has raised second round of funding led by Inventus Capital Partners. Seedfund, an existing investor, also participated in the round.
In a press release, Kanwal Rekhi, co-founder of Inventus Capital Partners said “The fragmented bus travel market in India offers a significant aggregation opportunity. In redBus we see a set of young, enthusiastic entrepreneurs addressing a large and largely untapped opportunity. We hope to work closely with the founders, existing investor and advisors to create a unique and valuable brand,”. In an earlier interview recently, he had just remarked about how VCs cannot sites cannot hope to depend on advertising to generate revenues. Co-incidentally, that is quite in sync with the view redbus.in takes which does not rely on online advertising.
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