Today, CatchThatBus, mobile-bus ticketing startup has announced it securing $1.5 million in pre-Series A round of funding led by Jungle Ventures and 500 Startups along with Cradle Fund.
Started in 2011, CatchThatBus is a Malaysia-based startup that allows its users book cross-country trips between Malaysia and Singapore through its website and mobile apps. The mobile app available for iOS, Android or Windows apps lets users to get real-time information on bus schedules and seat availability. The service offered by this company works perfect for the large number of migrants who enter Singapore from Malaysia especially weekends and also for the flocking tourist to enter the neighboring country. “We realised that the market for buses and travelling was fairly untouched market with potential. It’s not sexy, but there was opportunity,” said CEO Viren Doshi.
The online travel agent previously raised an undisclosed amount through seed funding in May last year through Jungle Ventures. This new funding round has happened after a year of the earlier round. With the new funds, the company plans to expand into the markets in South-East Asia. “We are looking to invest in top talent, and marketing to bring the CatchThatBus’ experience to even more travelers,” said Doshi to a news media.
” This recent round is one of the first investments of our new fund, and we are excited to be able to support CatchThatBus through its growth phase. The growth trajectory is aggressive , and we have already begun talks for a much bigger round in the coming months,” added Doshi. Started with just two bus operators, the company now operates with 30 operators and is continuing to focus on growing within Malaysia and Singapore and with a lookout for other regions in that area.
500 Startups’ managing partner Khailee Ng said, “This model is an eventuality for every developing and developed market. And this team has proven to know local execution better than anyone else.”
There have been many similar services like BusOnlineTicket and India’s RedBus is one of the most successful example for such online-travel startups. With the crowding of online retail and marketplace, logistics which is lying much untapped is getting more attention in the recent years.