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July 06, 2009

Deal Alert: Inventus Capital invests in online bus ticketing service redBus

Edited extract from press release:




Inventus Capital Partners has announced that it led the second round investment in Pilani Soft Labs Private Limited, the company behind India’s leading bus ticketing service, redBus (www.redBus.in). Parag Dhol from Inventus Advisory Services will join redBus’ board.

The round also received participation from first round investor Seedfund.

redBus, which offers consumers the convenience of booking bus tickets via the phone, net and through its partners, will use the latest round of financing to further increase its geographical footprint across India.

Kanwal Rekhi, co-founder, Inventus Capital Partners, said, “The fragmented bus travel market in India offers a significant aggregation opportunity. In redBus we see a set of young, enthusiastic entrepreneurs addressing a large and largely untapped opportunity. We hope to work closely with the founders, existing investor and advisors to create a unique and valuable brand”.

About Inventus Capital Partners:

Inventus supports ambitious entrepreneurs building the next generation of technology powered companies, particularly software products, services, embedded software, consumer internet, semiconductor and mobile services companies. The Inventus principals have previously successfully invested in over 90 companies through multiple venture cycles since 1993. They play active mentoring roles on company boards. To date they’ve supported entrepreneurs in building dozens of successful public companies or highly valued acquisitions, resulting in the creation of $30 billion+ in aggregate wealth and market value for respective entrepreneur founders and shareholders. For more information on Inventus Capital Partners, please visit: http://www.inventuscap.com