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Rainmaker Ventures makes its first investment of $1M in Mumbai-based bus aggregator app Limo

 Rainmaker Ventures makes its first investment of $1M in Mumbai-based bus aggregator app Limo

Raftaar Technologies, the parent company of Mumbai-based bus aggregator Limo, on Tuesday announced raising $1 million in funding from Rainmaker Ventures. Launched in December 2015, this marks the venture fund’s first investment.This is the second investment for Limo, which was earlier called rBus. In August 2015, rBus received seed funding from India Quotient, People Group founder Anupam Mittal, and other investors, to expand operations as well as strengthen its technology platform. Commenting on the investment, Siddharth Sharma, co-Founder, Raftaar Technologies said, “At Limo, we were clear that we wanted to create a bus service that would be as comfortable and convenient as your car, but at a fraction of the cost. We have completed more than 3 lakh rides since inception. We’re very excited that visionary investors Rainmaker Ventures are backing our vision of better and more effective mobility for everyone.”

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