Money is what required to explore all dimensions! Isn’t it? Every now and then firms seek capital from equity dilution, IPO, venture capitalists or angel investors in order to expand to various horizons to test their products and ensure their position in the market.
Similarly, Wing Travels Management, a Pune-based travel services company, is planning to raise USD 15 Million through equity dilution in Series A. The job has been handed over to BDO India LLP which is a part of world’s fifth largest accountancy organisation, BDO. Currently, WingTravels is evaluated at INR 150 Crore.
The firm is planning to use the raised amount to expand to 47 Indian cities along with 4 SouthEast Asian cities- Myanmar (Yangon), Vietnam, Sri Lanka and Thailand with airport services. Founder Director, Arun Kharat believes these regions are at incipient stage having much higher potential. The company aims to improve its pooling and last mile delivery services. Moreover, the firm is planning to launch Bus pools and intercity car pools through their last month acquisition Bookmycab. Additional plans are there to strengthen their tech running at the backend for smoother and personal experience.
“Smartphones being so much involved in our daily lives, we expect a large number of users to opt for services through app. We will be pioneers in India to launch such a service across multiple cities on the back of a robust technology platform,” said Arun Kharat.
The company is currently providing transport services to top multinational and Indian companies across nine cities for their 10 lakh employees. It serves with a fleet size of over 3,600 vehicles.
Such firms are solving real life problems which make them successful and accepted by people. That is why these are adopted by several MNCs which can see the bigger picture. Let’s see how does it work out for Wings Travels!!
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