The funds raised will be used for further enhancement and optimization of its multi-modal platform for train travellers who are looking for a seamless train travel experience in India.
Trainman, a train ticket booking platform, announced that it has raised an undisclosed amount from ace investors like Vijay Aggarwal, CTO- BharatPe, Nitin Gupta, CEO- Mall 91, Vishal Kanodia (Director, Kanodia Cement Ltd.) and others.
The funds raised will be used for further enhancement and optimization of its multi-modal platform for train travellers who are looking for a seamless train travel experience in India.
The Gurugram based train travel startup is the official train booking partner of IRCTC. Trainman app is a one-stop solution for online train ticket Booking, Checking Seat Availability, PNR Status, Running Live Status, Coach Position and Fare Calculator. It is the highest-rated Android app that predicts train ticket waiting list confirmation with over 95 per cent accuracy and is installed in over 10 million android devices.
Founded by Vineet Chirania and Karan Kumar, IIT Roorkee graduates, started Trainman in 2016 with intent to create powerful and intelligent solutions that are capable of enhancing train ticket booking experience to usher train, coach, services related to travel into an effortless experience so people get the best prices along with real-time information.
Vineet Chirania, CEO and Co-founder, Trainman said, “Trainman has pioneered in offering innovative and effective solutions to help online train ticket booking become more flexible and agile. Emerging as a leading solutions provider in the industry, with over 10 million installations, the App delivers cost-effective services using a comprehensive back-end system to streamline the train ticket processes. “
“We have an intricate plan to increase our investment in technology and products while tapping into the growing verticals like predictive analytics and data analytics. Trainman is also considering expanding its reach in the tier-3 and tier-4 market which is the true Bharat audience. The 50 % Month-on-Month increasing revenue has already put Trainman competing with the likes of established players in the industry,” added Karan Kumar, Co-founder Trainman.
Following the ace investors’ maiden funding round, the founders are all set to enter more domains and are actively gearing up to find new investors to increase investment in products and technologies. Trainman has already successfully raked in over Rs 100 Crore in annual ticket booking with over 1.5 Crore monthly visits. The net profitable company has also seen an increase in revenue after the COVID-19 outbreak and founders expect to see multifold growth in the coming financial years.
‘With the rise in disposable income, India is expected to grow exponentially. The online ticket booking platform landscape is expected to grow as more people get comfortable with tablets and phones after the pandemic. Startups like Trainman with their innovative offerings are looking for their niche while also keenly focusing on profitability,” concluded Chirania.
Source: Business World
