Noida based Stelling Technologies which owns and operates web and mobile app RailYatri.in has got funding from a funding round led by Blume Ventures and an unnamed US-based angel investor. The joint investment believed to be around Rs.30 crore.
The terms of the deal were not disclosed. Notably, this is the first round of institutional funding raised by the startup. The funds raised from latest round will be used to fuel the growth of the company's technology platform as well as for marketing initiatives.
RailYatri, had earlier raised an undisclosed amount from Ujama Ventures, a Silicon Valley-based angel investment firm. Started in 2011, Stelling Technologies is venture funded jointly from Ujama Ventures and R3S Ventures.
Founded by Manish Rathi, Kapil Raizada and Sachin Saxena in 2011, RailYatri is a Web and mobile-based tool that provides consumers with all rail travel-related information, including, live train status, platform locator and seat availability.
In the past, RailYatri.in is has worked with Indian Railways to power their National Train Enquiry System (NTES) and enable them to distribute train related running information through their portal at TrainEnquiry.com which provides train running information to the passengers.
"We raise funds to capitalise on the demand of our product, and accelerate the pace of product innovation. The idea is to make RailYatri.in the best platform for train travelers to plan their journey, train-related search, social sharing and commerce," said Manish Rathi, Co-founder & chief executive, RailYatri.in.
RailYatri is one stop shop for train travelers, thus its monetisation model is based on taxi bookings and allowing customers to order food on the go. It has tie-ups with taxi services firms across 30 cities and food vendors across 300 stations.
Blume Ventures is a leading early-stage seed & pre-series A venture fund based out of Mumbai, India and provides seed funding in the range of $50K – $300K to early-stage tech-focused and tech-enabled ventures.
Advertisements