Entertainment App GoldSeat to Raise $3M for Indian Expansion
In 2016, GoldSeat raised 160,000 dollars from an angel investor to develop technology and set up operations in India
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, GoldSeat has raised 160,000 dollars funding received from an angel investor which was utilized to develop the technology and set up operations in India.
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.
Currently, GoldSeat has its application running across 250 buses which includes busses of 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 660 million passengers with approximately 500 million traveling by buses and is expected to grow at a rate of 15 percent 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 percent of the route that has internet connectivity and only 10 percent 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, cofounder, 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 travelers. The mobile app which is just 3MB in size can be downloaded from either Google Play or App store when the travelers 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. Travelers 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.
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