Stelling Technologies, which owns and operates web and mobile app RailYatri has secured an undisclosed amount of funding led by Blume Ventures with participation from US based angel investor. The round has been made from Blume’s maiden INR 100 crore fund. The deal amount is still undisclosed by the company but ET reported that the firm had raised INR 3 crore.
The new funding will be used to fuel the growth of the company’s technology platform as well as for marketing initiatives. “We raise funds to capitalise on the demand of our product, and accelerate the pace of product innovation.,” said Manish Rathi, Chief Executive Officer, RailYatri.
Noida-based RailYatri was founded by Manish Rathi, Kapil Raizada and Sachin Saxena in 2011, is a web and mobile-based tool that provides rail travel-related information, including, live train status, platform locator, seat availability, Disruptions, Cancellations, Delayed starts, and Alerts notifications etc. With other services including taxi bookings and allowing customers to order food on the go, also has partnership with with taxi services firms across 30 cities and food vendors across 300 stations.
The company had launched its mobile app in February this year and which claims to have crossed over five lakh downloads. As per its founders, the website sees more than one lakh visitors daily, while connecting to about 8,500 stations across the country.
This is the first institutional funding received by the venture and earlier it had secured an undisclosed amount from Silicon Valley-based angel investment firm, Ujama Ventures.