Mumbai-based Birds Eye Systems owned public transport information app Ridlr, has raised $6 million series B funding from Times Internet and existing investors Matrix Partners India and Qualcomm Ventures. Venture debt provider Innoven Capital also participated in this round.
The new round of funding will be used for scaling up public transport ticketing in cities, growing user base, as well as hiring across key roles.
The app provides real time bus, metro and rapid metro schedules for a given city. It also helps users locate the nearest bus stop or metro station and allow them to download time-tables to their phones for offline use. Another hyperlocal app that compete in this category of service include m-Indicator which works with Mumbai locals, metros etc and has features like auto/taxi fares, women safety, emergency numbers etc.
Founded in 2009 by Ravi Khemani and Brijraj, Ridlr had raised an undisclosed amount in Series A funding from Matrix Partners in December 2013 and Qualcomm Ventures in September 2014, prior to which Birds Eye Systems had raised seed capital of Rs 2 crore from Indian Angel Network in 2012.
Brijraj Vaghani, CEO of Ridlr said, “This round is great validation of our growth, team strength and bility to execute. It gives us the confidence to continue to disrupt the local transport space.”
At the time of launch in April last year, the app went live in Delhi, Bangalore (Metro and BMTC), Chandigarh (CTU), Jaipur (JCTSL), Pune (PMPML and local trains), Mumbai (BEST, TMT, NMMT, KDMT, MBMT, central/western/harbour railways, metro and monorail), Chennai (southern railways and MTC buses) and Ahmedabad (AMTS, Janmarg BRTS). Currently the company claims that Ridlr is available across 24 Indian cities, with over 2 million registered users.