India’s leading local transport app, Ridlr, has announced $ 6 million in series B funding by Times Internet as well as existing investors Matrix Partners India and Qualcomm Ventures.
Ridlr provides real-time public transport and traffic information across 24 Indian cities, serving an engaged community of over 2M users. Public transport ticketing has also recently been added to the platform. The new round of funding will be used for scaling up public transport ticketing in focus cities, growing user base, as well as hiring across key roles. Current partner agencies for Ridlr include BEST, NMMT and MMRC.
Commenting on the fundraise, Brijraj Vaghani, CEO of Ridlr said, “This is a significant milestone for Ridlr in its journey to become the leading local transport information and ticketing platform in India. This round is great validation of our growth, team strength and ability to execute. It gives us the confidence to continue to disrupt the local transport space.”
“Ridlr seeks to give customers a seamless public transport commuting experience. This aligns with our investment philosophy of backing companies and products that pass the ‘toothbrush test’ i.e., products that are used by consumers on a daily basis. We are excited to partner with the Ridlr team on their journey of changing the way people commute in India”, said Miten Sampat, VP Corporate Development, Times Internet.
“Ridlr’s vision is to be the de-facto app for every urban commuter in India. Their approach of working closely with transport companies to bring real-time information and ticketing online, and their focus on their user community, makes them uniquely positioned to create impact in the lives of millions of users. We look forward to partnering with Brij and the team on this journey and welcome Times to this partnership”, said Vikram Vaidyanathan, Managing Director, Matrix India.
