Ticketgoose plans second round funding from VCs
One of India's leading online bus tickets firms, Ticketgoose.com, is looking to raise INR250 million ($4.6 million) in a second round of VC funding, CEO Arun Athiappan said.
The company had raised INR40 million from US-based angel investors in August by divesting a holding of nearly 20% when the company was valued at around INR200 million. According to The Economic Times, the company, which expects to close the current fiscal year with over INR1 billion in revenue, may divest another 20% in equity in the latest round.
Athiappan said the company is currently in talks with a few VCs who have shown interest but prefers to looks at those VCs who have funded similar ventures so that they can get better valuations and support.
The bus ticketing firm, which sells its ticketing software to private travel agencies, hopes to improve its sales significantly in the backdrop of increasing preference towards bus travel with rising airfares and improved roads with higher quality private sector buses.
The company wants to deploy the next round of funds on marketing and developing more mobile bus ticketing applications.
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