ConfirmTkt, an online train ticket discovery and booking platform, has raised a further $250,000 in seed from Mumbai based Venture Catalyts. With this funding, the startup will now work on building “a solid tech platform” to address inefficiency in trip planning.
The funding round was led by the angel investors of Venture Catalysts, which includes Apoorv Ranjan Sharma, Anirudh Damani, Anand Ladsariya, Sanjay Mehta and Krishna Jhujhunwala, while other investors such as Urrshila Kerkar also participated in the funding round.
Dinesh Kumar Kotha, co-founder of the company, said,
Our major focus now would be to build a solid tech platform that addresses inefficiencies with trip planning and booking. For the past one and a half years, we have incorporated a lot of data, which will help discover many hidden travel itineraries and suggest the best options to users.
Founded in 2014 by former IBM executives Sripad Vaidya and Dinesh Kumar Kotha, ConfirmTkt is working to build a ticket discovery engine that suggests the best personalized train travel options to travellers.
It has developed an algorithm which uses analytics to predict the possibility of a waiting list ticket in IRCTC being confirmed based on historical trends. It assists you in deciding whether to book or not if the train is in waitlist.
Apart from predictions, its algorithm also discovers alternative routes, when there are no possible direct route for a ticket is confirm. As per Anirudh Damani, one of the investor in the company, the startup addresses the complex challenges of the multi-billion-dollar Indian travel space through smart deployment of technology backed by the power of data and delivered through a platform, which simplifies the whole trip planning and booking process.
Earlier, in July 2014, the company had raised another angel round of around Rs. 75 lakh from Pravin Agarwala, founder of BetterPlace Safety Solutions, and other angel investors. ConfirmTkt has witnessed more than 500,000 mobile app downloads and a daily user base of 35,000 individuals since its launch last year.