Raftaar Technologies, which owns and operates online bus aggregator service named Limo, has raised $1 million in a fresh funding round from Rainmaker Ventures.
Limo runs chartered buses for corporates and individuals for office commute. The bookings are done via advance payments. It also provides services like wi-fi, app-enabled payments, flexible timings, and live tracking of buses, among others.
The company was founded in 2015 by Siddharth Sharma, Anshul Khandelwal and Vivek Choksi. It was formerly known as rBus but has rebranded to be known as Limo and is focussed on delivering urban mobility.
It believes that a smart bus system can solve the urban mobility problems today, without any additional investments in infrastructure or technology.
Siddharth Sharma, co-founder of the company, said,
At Limo, we were clear that we wanted to make a bus service that would be as comfortable and convenient as your car at a fraction of the cost. With more than three lakh rides served and with more than half the passengers having given up using their cars to reach office, Limo is proving every day that buses, when done right, can be the answer to many commuters woes.
This isn’t the first funding round raised by the company. Last year, in August 2015, Raftaar Technologies raised an undisclosed amount of seed fund from India Quotient, People Group founder Anupam Mittal and others.