Aiming to develop and market its application, VST Travels, a startup at Kerala State Industrial Development Corporation (KSIDC) startup zone at Angamaly, has received Rs 1.8 crore in funding from Dubai-based Promatus Group.
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.
The application helps users to book tickets in all modes of transport, which includes flights and bus and also hire taxis and autorickshaws, locate ambulances, recovery vehicles, bulldozers and cranes.
With this funding, the company now plans to open offices in West Asia and the US, along with an R&D centre at Cherthala, Kerala. The company has been functioning until now through making use of the mentoring and incubation support of KSIDC.
The funding comes at a time when the company is trying to expand its operations in the state after tying up with Akshaya Kendras. The firm has also tied up with ‘Kudumbasree Travels.’ Specially configured tablets will be made available in these vehicles, where the travellers can track the route with the navigation system that is provided.
The pact was signed between Promatus Group Chairman Joshy Babu and VST Travels CEO Alwyn George.
