VST Travels, a Kerala-based travel startup has raised about $27K (INR 1.8 Cr) funding from a Dubai-based Promatus Group.
VST Travels, a startup incubated at the Kerala State Industrial Development Corporation (KSIDC) startup zone at Angamaly was founded by Alvin George. It has received the funding within six months of launching its operations.
The funding will support the company to develop and market its application called VehicleST. It is claimed to make it easier for the users to locate all types of vehicles. It’ll also enable the users to book tickets in all types of transport, ranging from flights to buses.
It will also facilitate company’s expansion operation in Kerala after tying up with Akshaya Kendras, an initiative funded by the government of Kerala. It has entered into an association with Kudumbasree Travels as well. It will also enable the availability of ‘specially configured’
Tablets in these vehicles.
The company now plans to open offices in West Asia and US, along with an R&D centre at Cherthala, Kerala. Up until now, the company functioned through making use of the mentoring and incubation support of KSIDC.
According to Moneycontrol the deal was signed by Promatus Group Chairman Joshy Babu and VST Travels CEO Alvin George. KSIDC Managing Director M Beena, Technopark CEO Hrishikesh Nair and Promatus Group VP Shesha Parakash were also present.
Other major startups in the travel industry include Tripoto and Smartairtrip among others.