Trainman raises undisclosed amount from angel investors, plans to invest in tech and products

New Delhi: Trainman, a railway ticket booking platform, has raised an unknown sum from high-profile investors including Vijay Aggarwal, CTO of BharatPe, Nitin Gupta, CEO of Mall 91, Vishal Kanodia (Director of Kanodia Cement Ltd.), and others. 

The proceeds will be utilised to improve and optimise the company's multi-modal platform for railway passengers searching for a smooth train travel experience in India.

IRCTC's official train booking partner is the Gurugram-based train travel company. Trainman boasts itself as a one-stop shop for online railway ticket booking, seat availability, PNR status, live train status, coach position, and fare calculator. It claims to predict railway ticket waiting list confirmation with over 95% accuracy, and it has over 10 million downloads.

Trainman was founded in 2016 by Vineet Chirania and Karan Kumar, both IIT Roorkee graduates, with the goal of creating powerful and intelligent solutions capable of enhancing train ticket booking experiences to usher train, coach, and travel-related services into an effortless experience where people can get the best prices and real-time information. 

Vineet Chirania, CEO and Co-founder, Trainman said,"Trainman has been at the forefront of developing new and effective solutions to make online railway ticket booking more flexible and adaptable. With over 10 million instals, the App has established itself as a leading solution provider in the market, delivering cost-effective services through a complete back-end infrastructure that streamlines railway ticket operations."

"We have a complex plan in place to enhance our investment in technology and goods while using growing verticals such as predictive analytics and data analytics." Trainman is also thinking about expanding its reach into the tier 3 and tier 4 markets, which represent the genuine Bharat audience. Trainman is already competing with major companies in the market, thanks to a 50% increase in revenue month over month," noted Karan Kumar, Trainman's co-founder.

Following the ace investors' initial funding round, the founders are ready to expand into new areas and are actively seeking more investors to enhance investment in products and technologies. With over 1.5 million monthly visitors, Trainman has now raked in over Rs 100 crore in annual ticket bookings. Following the COVID-19 outbreak, the net profitable company saw a rise in sales, and the founders forecast multifold growth in the future financial years.