Stark Enterprises Pvt Ltd-backed Trainman has raised an undisclosed amount from Vijay Aggarwal, Chief Technology Officer of BharatPe, Nitin Gupta, Chief Executive Officer of Mall 91 and Vishal Kanodia, Director of Kanodia Cement Ltd, among others, the company said in a statement on Monday.
The company said it will be leveraging the funds to augment its investment in technology and products portfolio, and tapping into verticals like predictive analytics and data analytics, the statement said.
“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 tier 3 and tier 4 markets, 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,” said Karan Kumar, Co-Founder, Trainman.
Trainman was founded in 2016 by IIT Roorkee graduates Vineet Chirania and Karan Kumar. The company claims to be the official train-booking partner of IRCTC, and offers services like online train ticket booking, checking seat availability, PNR status, running live status, among others.
The company added that is looking for new investors to step up its investment in products and technologies.
Trainman has raked in over Rs 100 crore in annual ticket booking with over 1.5 crore monthly visits, the statement said.