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Public transport info app Ridlr raises $6M in series B funding

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Birds Eye Systems owned public transport information app Ridlr has raised $6 million in series B funding by Times Internet* as well as existing investors Matrix Partners India and Qualcomm Ventures. Venture debt provider Innoven Capital also participated in this round. The new round of funding will be used for scaling up public transport ticketing in cities, growing user base, as well as hiring across key roles.

The app provides real time bus, metro and rapid metro schedules for a given city. It also helps users locate the nearest bus stop or metro station and allow them to download time-tables to their phones for offline use. Another hyperlocal app that compete in this category of service include m-Indicator which works with Mumbai locals, metros etc and has features like auto/taxi fares, women safety, emergency numbers etc.

Also Read: Traffline’s Ridlr app looks to answer questions on traffic before you step out

At the time of launch in April last year, the app went live in Delhi, Bangalore (Metro and BMTC), Chandigarh (CTU), Jaipur (JCTSL), Pune (PMPML and local trains), Mumbai (BEST, TMT, NMMT, KDMT, MBMT, central/western/harbour railways, metro and monorail), Chennai (southern railways and MTC buses) and Ahmedabad (AMTS, Janmarg BRTS). Currently the company claims that Ridlr is available across 24 Indian cities, with over 2 million registered users.

Bus ticket bookings: In January, Ridlr was running a pilot in partnership with Navi Mumbai Municipal Transport (NMMT) wherein users were able to pay for bus fares via the app. Currently, only two routes, AC-123 and AC-125, are running the pilot. Users had to manually select the destination and pay through a mobile wallet for an e-ticket. Ridlr tied up with Citrus Cash for wallet services, and money will be deducted every time a user books a ticket. The bus conductors on these routes carry a mobile device, which can verify the e-ticket from the app.

Previous funding

In October 2014, Birds Eye Systems raised an undisclosed amount in a Series B round of funding from Qualcomm Ventures. The company also raised an undisclosed amount of funding from Matrix Partners India in December 2013 and Rs 2 crore from the Indian Angel Network in April 2012, to further develop its product and enhance the scope of its services.

 Disclaimer: Times Internet is an advertiser with MediaNama*

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    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ