BackPress Play raises $500,000 from angel investors
Co-founder Anand Sinha says the company is also in talks to raise a Series A round of funding by the end of this month
Premium
Mumbai: Press Play Pvt. Ltd, a Delhi-based travel entertainment start-up on Wednesday said it has raised $500,000 from a group of angel investors.
The company, which was launched last year with a seed capital of $1 million, is also in talks to raise a Series A round of funding by the end of this month, Anand Sinha, co-founder of the company, said over the phone.
The company provides tablets to passengers who travel long journeys in buses for a cost of Rs100. The tablets can be attached to the seats and are pre-loaded with movies and music. “We have already provided our service to 25,000 customers across eight cities and are looking to launch in four more cities in the next 40 days," said Sinha.
The company has tied up with the state transport corporations of Himachal Pradesh and Rajasthan and a taxi rental company to provide its services.
The start-up has also partnered with games studios and movie production houses for content. It is looking at growing its current employee base of 80 to 300 and increasing its presence to 50 cities by the end of this fiscal year. “Having worked with Zomato, we have experience in overseas expansion. We are looking to expand to international destinations by the end of 2015," said Sinha.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
