Furthering its mission of improving the innovation quotient in India, Venture Catalysts, India’s first Seed Investment & Innovation Platform, recently participated in a successful funding round for travel ticket discovery platform ConfirmTkt. The round saw an investmentof $250k being made into ConfirmTkt. VCats angels including Dr. Apoorv Ranjan Sharma, Anirudh Damani, Anand Ladsariya, Sanjay Mehta and Krishna Jhujhunwala led the round, while other investors, such as Ms. Urrshila Kerkaralso participated in the funding drive.
The latest funding emphasizes VCats’ aim of reinvigorating the start-up landscape in the country and nurturing start-up success through its angel network, venture fund, co-working facility and effective post-investment support. Confirm Tkt will be using the funding raised for product development and hiring, while Anirudh Damani will be joining the Board following the investment.
Speaking on the announcement, Dr. Apoorv Ranjan Sharma, Co-Founder, Venture Catalysts commented, “Venture Catalysts was established with an end-goal of assisting promising ventures achieve scale and growth.Our investment in ConfirmTkt is a testimony to the fact, and underlines our belief in its founders’ vision as well as their product. We are confident that ConfirmTkt will leverage our excellent networking capability as well as comprehensive support infrastructure in order to power their growth and success.”
Founded in July 2014 by two ex-IBMers, Sripad Vaidya and Dinesh Kumar Kotha, ConfirmTkt is a platform that aims to make the travel ticket discovery and booking process easier. The company is working towards building a ticket discovery engine which suggests the best personalised train travel options for every user. ConfirmTkt has grown considerably since its inception with 500k mobile app installs across platforms and a daily active usage of 35k unique users.
SripadVaidya, Co-Founder of Confirmtkt.com said, “We are excited about this development. We believe that the backing of Venture Catalyst`s will help us a lot to further enhance our product offering and expand our market penetration among internet & mobile users in India.”