Having already established itself as the second largest online bus ticketing provider through travelyaari.com, Ahmedabad-based Mantis Technologies is now planning to expand its operations further. With a flurry of private operators already using the Mantis platform, the Indian Institute of Management, Ahmedabad (IIM-A) incubatee is in talks with several state government transport corporations for potential tie-ups.
"We are already covering over 20 states in India through private operators. However, we are now looking to expand our operations by tapping the state government road transport. We are in talks with several state governments for bus e-ticketing, while we will soon initiate talks with Gujarat government as well," said Parthasarthy Sinha, co-founder and director of Mantis Technologies.
Apart from its online bus ticketing portal, travelyaari.com, Mantis also provides logistics management services for cargo operators. While the front-end business of Mantis Technologies looks into bus e-ticketing through travelyaari.com portal, the back-end operations comprise providing online logistics management platform for cargo operators.
"At back-end we have about 50-60 users using the cargo module across states like Delhi, Gujarat, Rajasthan, Maharashtra and Karnataka. However, we are looking to expand this operations as well," said Sinha.
The software as a service (SAAS) offered by Mantis helps cargo operators to control all branches through the former's online platform.
"Over the last five years, we have successfully computerised a flurry of bus operators. Moreover, the bus ticketing services on Makemytrip is based on Mantis platform," Sinha added.
By providing online logistics management services, Mantis is targeting the growing bus operators-run cargo businesses.
According to the company, bus operators-run cargo is one of the cheapest logistics options available to users as well as one of the fastest growing businesses which Mantis caters on B2B basis.
By the end of the fiscal 2011-12, the company is looking to peg a turnover of Rs 110 crore.
"We are now the second largest player in the online bus ticketing market. With the segment growing at 60 per cent CAGR, we are looking to cash in on the growth by expanding our operations into state governments as well," said Sinha.
According to Sinha, the online bus ticketing market is valued at Rs 500-600 crore, a mere 3-4 per cent of the total Rs 15,000 crore bus ticketing market, including public and private transport, within the country.