Stelling Technologies, which owns and operates web and mobile app RailYatri.in has raised undisclosed amount in funding led by Blume Ventures with another US based angel investor also participating in the round.
Rail Yatri is a web and mobile-based tool that provides comprehensive information on train status, reservation status, seat availability, amenities, disruptions etc. With other services including 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.
This round was led by Blume from its maiden INR 100 Cr. fund.
The financial terms of the deal have been left undisclosed as of now, but however, reports suggest that Rail Yatri has raised about INR 3 Cr. in this round.
The funds raised in this round will be used by the company to fuel the growth of its 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. The idea is to make Rail Yatri the best platform for train travellers to plan their journey, train-related search, social sharing and commerce,” said Manish Rathi, chief executive, Rail Yatri.
The startup had launched its mobile app in February this year and has managed to get over 5 lakh downloads. As per the founders, the website sees more than one lakh visitors daily, while connecting to about 8,500 stations across the country.
Based out in Noida and founded by Manish Rathi, Kapil Raizada and Sachin Saxena in 2011, the startup had previously raised an undisclosed amount from Ujama Ventures.