Aiming to grow public transport ticketing and grow user database, public transport information app Ridlr has raised $6 million in series B funding from Times Internet and existing investors Matrix Partners India and Qualcomm Ventures.
The Mumbai-based Birds Eye Systems owned venture also had debt provider Innoven Capital participating in this round.
Ridlr had raised an undisclosed amount in Series A funding from Matrix Partners in December 2013 and Qualcomm Ventures in September 2014, prior to which Birds Eye Systems had raised seed capital of Rs 2 crore from Indian Angel Network in 2012.
Brijraj Vaghani, CEO of Ridlr said, “This round is a great validation of our growth, team strength and ability to execute. It gives us the confidence to continue to disrupt the local transport space.”
The Ridlr app provides real time bus, metro and rapid metro schedules for a given city. It also helps users to locate the nearest bus stop or metro station and allow them to download timetables to their phones for offline use.
Founded in 2009 by Ravi Khemani and Brijraj, this app is live in Delhi, Bangalore, Chandigarh, Jaipur, Pune, Mumbai, Chennai and Ahmedabad. Currently, the company claims that Ridlr is available across 24 Indian cities, with over 2 million registered users.
Another hyperlocal app that competes in this category of service includes m-Indicator, which works with Mumbai locals, metros etc and has features like auto/taxi fares, women safety, emergency numbers etc.
