Ridlr, a Mumbai-based public transport app, has raised $6 Mn in Series B round of funding. The investment was led by Times Internet and Innoven Capital. Existing investors Matrix Partners India and Qualcomm Ventures, also participated in this round.
Ridlr was launched in 2009 by Ravi Khemani and Brijraj Vaghani and was developed by Birds Eye Systems. The app provides real time information such as roadblocks, diversions, cancellations, etc., through GPS installed probes.
The raised funds will be used for scaling up public transport ticketing in focus cities, growing user-base, as well as hiring across key roles.
Earlier, it raised a seed fund of INR 2 Cr in 2012 from Indian Angel Network. Later, in December 2013, the company raised Series A round of undisclosed funding from Matrix Partners and Qualcomm Ventures in September 2014.
Miten Sampat, VP Corporate Development, Times Internet said, “Ridlr seeks to give customers a seamless public transport commuting experience. This aligns with our investment philosophy of backing companies and products that pass the ‘toothbrush test’ i.e., products that are used by consumers on a daily basis.”
Earlier in January this year, Ridlr also announced an agreement with Navi Mumbai Municipal Transport Corporation to offer mobile ticketing service for NMMT buses. The bus tickets will be booked through mobile phones.
It is currently operational in 24 Indian cities, claiming to have 100K daily users and 5 lakh app downloads to date. Other startups in the space include Traffline, and YoRide.
