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Secures $750k From IDG Ventures By Bus Aggregator CityFlo

Mumbai-based Bus aggregator startup CityFlo has upturned a seed round of $750,000 (closely INR 5 cr.) from IDG Ventures. The sum will be used to boost technology, develop the team and for superior penetration in Mumbai.
Cityflo was started in August this year by Jerin, Subhash Sundaravadivelu, Rushabh Shah, Advaith Vishwanath, Ankit Agrawal and Sankalp Kelshikar – all alumni of the esteemed Indian Institute of Technology.
On this round of venture Jerin Venad, CEO and Co-founder, Cityflo, says,
Urban transportation is a billion-dollar difficult to solve. In just nine weeks since our launch, we’ve received an awesome response from our clients with a client repeat rate of over 75 per cent.”

“While tier-one towns like Delhi have a huge population and, therefore, great potential, tier-two cities like Ahmedabad too hold a lot of talent because they simply don’t have suitable public transport. We are still gaging the market,” He adds.
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