To accelerate online bus ticketing, Bengaluru-based Travelyaari.com, the flagship brand of Mantis Technologies, is planning to integrate other products such as cabs and automobile bookings, apart from wallets, on its platform.
A former incubatee of the Indian Institute of Management, Ahmedabad's Centre for Incubation, Innovation and Entrepreneurship, Travelyaari, is looking to grow 100%. Catering to 1,200 passenger and commercial transporters on its platform, Travelyaari powers about 55% of the bus segment.
However, for the next level of growth, the company is adding features to its bus ticketing platform to capture a larger customer base.
"We have already integrated insurance to our platform and offer it as a value added service. We are now looking to integrate other products such as hotel rooms, cab and auto booking as well as wallets. We intend to cater to larger needs of our customers and thereby increase our base," said Aurvind Lama - Director & Co-founder , Mantis Technology Pvt Ltd & Travelyaari.com. Travelyaari.com has a network of over 2100 bus service providers with more than 1,43,000 bus options per day on 45,000 routes.
Moreover, in order to fuel its growth plans, Travelyaari is also looking to raise the next round of funding. "We are in talks with some investors. In the next one month we would be closing the next round of funding which would fuel our growth plans," Lama said. The company has so far raised Rs 50 crore through CIIE and Gujarat Venture Finance Limited (GVFL), among others.
Apart from integrating more products to the platform, the company is also integrating intelligence into its back-end system. "We are trying to develop a dynamic system that will enable us to present bus tickets at a lower rate. In last two years, we have doubled customers on our platform. We intend to continue to do the same going forward through such steps," said Lama.
Meanwhile, having pegged a turnover of Rs 200 crore for the fiscal 2014-15, the company is anticipating sales worth Rs 500 crore for the current financial year 2015-16.