On Friday, on-demand baggage delivery platform CarterX said it had secured an undisclosed seed round from Venture Catalysts.
Other co-investors that participated in the round included Mumbai Angel Network and JPIN, along with angel investors like Swati Mehra and Nikhil Vora, founders of Sixth Sense Ventures.
Founded by Ramya Reddy and Harsha Vardhan in 2017, CarterX allows passengers to book, move, and track their baggage on any device.
This fund raise round will aide CarterX to forge more alliances with VCATs and scale across more airports to offer a host of airport services under one platform to penetrate deeper into the market, – Vardhan, CEO of CarterX.
The company said it makes sure that each baggage is sanitized, tracked, and transported anywhere in India to the airports they service.
With over 1 lakh orders completed, the brand aims to partner with more airlines and airports in the next few months.
The funding comes at a time when Delhi and Mumbai airports contribute 190 million passengers every year, and the market for add-on services is about Rs 11,000 crore at just four major airports (Delhi, Bengaluru, Mumbai, and Hyderabad).
“The idea of unfussy transfer (to and from the airport) of baggage will revolutionise the travel logistics industry and allow passengers to experience the new age of travelling from the first seat,” said Anuj Golecha, Co-Founder, Venture Catalysts.
Venture Catalysts is India’s first integrated incubator. It invests $250,000-$1.5 million in early-stage startups that have the potential to create enduring value for a long time.