Sunday, May 26

Delhi Based GoldSeat Looking to Raise $3mn Funding

Delhi based offline entertainment app GoldSeat looking to raise $3 million funding to expand its operations further in India. Earlier GoldSeat has raised USD 160K worth funding.

Founded in 2016, by Nischal Khetarpal & Gaurav Kapahi, GoldSeat has its application running across 250 buses which includes buses of Uttar Pradesh State Road Transport Corporation and also other private players across Northern and Western regions of India

The company links all GoldSeat entertainment profile to a device installed in the bus which acts as a server to all the licensed content available for the travelers. The mobile app which is just 3MB in size can be downloaded from either Google Play or App store when the traveler’s boards the bus and login using their Facebook id.

The company is also in talks with multiple airlines and advertisement agencies which handle promotional activity on the train in next 12-14 months.

“We are on the threshold of redefining the travel entertainment space in India and establishing ourselves as the go-to platform by further expanding our pan India presence. We are extremely excited as we believe the new round of funding will provide further stimulus to our growth which we plan to utilise to enhance the technology, workforce, and marketing,” said Gaurav Kapahi, Founder, and CEO, GoldSeat.

The offline on-the-go entertainment sector in India is largely unorganised, with players providing unlicensed content to the viewers. Market size is estimated to be 660 million passengers with approximately 500 million traveling by buses and is expected to grow at a rate of 15 percent CAGR.