redBus has raised $6.5 million in Series-C funding round, led by Helion Venture and participated in by the existing investors, Seedfund and Inventus Capital Partners. The company will use the funds for footprint expansion and increasing penetration in its current markets.
redBus recently crossed 3.5 million passenger journeys and clocked over Rs. 120 crores in gross bookings. The Bangalore based startup has raised funding till 2015 and is planning to go big bang on breadth*depth.
A few product features planned include round trip bookings, user registrations etc, but the bigger picture for redBus is the software piece they license – BOSS (Bus Operator Software Services). Two government owned operators (Delhi/Goa) are alredy using this service.
As far as the consumer part is concerned, the company plans to expand in North/NE regions and also, increase penetration across tier-2 cities (Phani mentions that they have identified 26 new locations).
The redBus Story
Watch redBus’ founder, Phanindra Sama sharing the redBus story at UnPluGGd, India’s finest startup event.
Pilani Soft Labs Pvt Ltd owns 3 brands: redBus – the company’s bus ticketing brand; BOSS – the company’s SaaS product that is used by bus operators for their inventory management, and; SeatSeller – the company’s bus inventory distribution platform that is used by travel agents interested in selling bus tickets.