Raftaar Technologies which runs Limo a bus integration platform has raised a funding of $1 million from Rainmaker Ventures. The funds will be utilized to strengthen their operations in Mumbai.
It was founded by Siddharth Sharma, Anshul Khandelwal and Vivek Choksi to meet the demands of transportation with its luxury AC buses with services including, app-enabled payments, wifi, live tracking of buses and flexible timings.
It runs buses for individual as well as corporate also. Limo offers AC buses in Mumbai to office commuters. Users have to put their details including the address of pick up and drop location on Limo’s mobile app or website and then search for buses on the available route. Rides can be booked as per daily, weekly or monthly bases.
In April 2015 it raised a funding from Anupam Mittal founder of People Group, India Quotient and others. Its competitors include Cityflo Mumbai based bis aggregator which raised funding of $750k from IDG Ventures in 2015.
Rainmaker Ventures was started by Sudhir Menon and Atul Hedge. It plans to invest in 6 firms in 2016.
Atul Hegde Co-founder of Rainmaker Ventures said,
“We are also looking at investments in logistics, financial technology and digital marketing. The quantum will be between $500,000 and $3 million. We would go in for additional capital when required. In addition to lending financial support to early stage ventures, the company also aims to provide mentorship and advice to help them develop a strong business on the ground level.”