VST Travels, a startup at Kerala State Industrial Development Corporation (KSIDC) startup zone at Angamaly, has received Rs 1.8 crore in funding from Dubai-based Promatus Group.
The funding will help the company to develop and market its application — VehicleST, through which the user can book tickets in all modes of transport, including flights and bus and also hire taxis and autorickshaws, locate ambulances, recovery vehicles, bulldozers and cranes.
VST Travels is the first KSIDC supported start up to attract funding within six months of launching its operations, a company statement said.
The funding comes at a time when the company is trying to expand its operations in the state after tying up with Akshaya Kendras.
The firm has tied up with Kudumbasree Travels. Specially configured tablets will be made available in these vehicles. The travellers can track the route with the navigation system that is provided.
There are plans to open offices in West Asia and US, besides an R&D centre at Chertala, it said adding that so far the unit had functioned making use of the mentoring and incubation support of KSIDC.
The pact was signed between Promatus Group Chairman Joshy Babu and VST Travels CEO Alwyn George.
KSIDC Managing Director M Beena, Technopark CEO Hrishikesh Nair and Promatus Group VP Shesha Parakash were among those present.