Exclusive: ConfirmTKT raises $250K from Venture Catalysts
Train ticket discovery platform ConfirmTKT has received funding of $250,000 (around Rs 1.7 crore) from investment platform Venture Catalysts.
Venture Catalysts' angels including Dr. Apoorv Ranjan Sharma, Anirudh Damani, Anand Ladsariya, Sanjay Mehta and Krishna Jhujhunwala led the round, while other investors such as Urrshila Kerkar also participated in the round.
Confirm Ticket Online Solutions Pvt Ltd, which runs the portal and app, will use the new capital for product development and talent acquisition.
This is the company's second round of funding. In July 2015, the company had secured an undisclosed amount of investment from Pravin Agarwala and others.
ConfirmTKT was founded in July 2014 by two former IBM executives, Sripad Vaidya and Dinesh Kumar Kotha. The startup claims to have 500,000 app installs and 35,000 daily active users.
"Our major focus right now would be on building a solid tech platform which addresses the inefficiencies with trip planning and booking. In the last one-and-a-half years we have incorporated a lot of data which will help us discover many hidden travel itineraries and suggest the best options to the users," said Kotha.
Venture Catalysts was founded by Sharma, former executive vice president at VentureNursery, Anil Jain, co-founder at institutional broking firm Wallfort Financial Services Ltd, Anuj Golecha, angel investor and partner at Banshi Jain & Associates, and Gaurav Jain, former executive at Reliance Private Equity. Venture Catalysts helps mentor startups besides offering venture fund, co-working facility and effective post-investment support. Recently, it entered into a partnership with global startup accelerator Plug and Play.
ConfirmTKT competes with MakeMyTrip, Goibibo, and Yatra. Indianrailinfo.com also provides intelligence around tickets and trains.