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Online bus ticket portal Ticketvala raises USD 2 mn from FootPrint Ventures

November 25, 2007 | In: Uncategorized

ticketvalalogo.gifTicketvala.com, a portal for bus ticket booking has raised USD 2 mn from FootPrint ventures, an early stage venture capital fund, based out of India as per report published in Mint.

Ticketvala, headed by Harnath Lokanadham, aim to capture the unorganized bus ticketing system in India as road transport in India remains the largest mean of transportation. Further with improving road infrastructure, and increasing Volvo bus circuit, this segment is set to see much increased volumes.

Tickevala has also launched its call center services in both English and other local languages so as to capture non internet using population.

The other player in bus ticketing system in Redbus.in which is being mentored by the TiE-EAP (Entrepreneurship Acceleration Program).

RedBus claims to have the largest network of bus operators in their list (150 and growing) and some 2000 destinations across India. At present Redbus.in tickets can be booked at some 10,000 outlets.

Footprint Ventures, the investor in Ticketvala.com is the brainchild of Neill Brownstein, a co-founder of Bessemer Venture Partners. It aims to create an India–US–Israel triangle that brings together funds, entrepreneurs, technology and markets. The firm looks to put $2-4 million in lifestyle, retail, financial services, security, education, clean technology and life sciences.

As of now Footprint has funded two startups including ticketvala.com after going through some 150 proposals.

Related posts:

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  2. Nexus India Capital raises $100M Venture Capital Fund

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