GoldSeat plans to raise 3 million USD for further expansion in India
Will utilize the next round of funding to enhance the technology, workforce and marketing
New Delhi, April 17th, 2018: GoldSeat, first of its kind licensed On-The-Go Offline Entertainment App for travel services, has announced its plans to raise the next round of funding of $3 million to further expand its operations in the country. Following its inception in 2016, GoldSeat has raised 160K USD funding received by an angel investor which was utilized to develop the technology and set up operations in India.
Currently, GoldSeat has its application running across 250 buses which includes Uttar Pradesh State Road Transport Corporation and also other private players across Northern and Western regions of India including Lucknow, Ahmedabad, Delhi, Haryana, Himachal Pradesh, Punjab, Rajasthan and will soon be available down south expanding its services pan India in near future. Also, there are conversations currently going on with multiple airlines and the agencies which handle media inside the trains. It will take approximate 12-14 months to convert the same.
Commenting on their plans to raise the next round of funding, Gaurav Kapahi, Founder and CEO, GoldSeat said “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 utilize to enhance the technology, workforce and marketing”.
The offline on the go entertainment sector in India is largely unorganized with players providing unlicensed content to the viewers. Market size is estimated to be 660mn passengers with approximately 500mn traveling by buses and is expected to grow at a rate of 15% CAGR. With infrastructure improvements, the number of people travelling by bus continues to rise as compared to airways and railways.
“While travelling by road, it’s only 40% of the route that has internet connectivity and only 10% or less has 3G or 4G connection. We aim to enhance the experience of on-the-go offline entertainment to another level through technological advancement, bringing an overall dynamical change in the entertainment and travel industry. The next round of funding will enable us to further enhance the customer experience” Commented Nishchal Khetarpal, Co-Founder, GoldSeat.
The entire GoldSeat entertainment profile is linked to a device installed in the bus which acts as a server to all the licensed content available for the travellers. The mobile app which is just 3MB in size can be downloaded from either Google Play or App store when the traveller boards the bus and login using their Facebook id. The app offers On-The-Go Offline Entertainment, Multi – Band Network, Unlimited Movies and TV Shows Streaming, HD videos, Offline Media Streaming, and Free WiFi. Travellers can connect to GoldSeat WiFi too which is a multi-band network and is enabled with the URA filtering technology which filters the kind of content which can be accessed through the technology and is completely free for the passengers.
About GoldSeat
Founded in 2016, Goldseat is a licensed on-the-go offline entertainment application for premium travel services across Air, Bus and Railway Network in India. Headquartered in Delhi, the company bridges the gap and provides latest HD content which runs seamlessly without any data cost and even without connectivity. Goldseat focuses to transform the travel journey for the Indian who avails premium travel services by offering a multiple entertainment facilities including a huge variety of movies available to watch offline, WiFi etc. The app works through the installation of a device in the buses and provides free WiFi to the users. The WiFi is a multi-band network and is enabled with the URA filtering technology which filters the kind of content which can be accessed through the technology. The application is completely free for the passengers.
RSVP:
Shayak Das: +91 9958311004 |[email protected]
Vijeta Verma: +91 9971412802 | [email protected]
Sunny Sharma: +91 8950151116 | [email protected]
