Mumbai based startup Kyazoonga has raised an undisclosed amount of funding from Ratan Tata
Mumbai based e-ticketing startup, Kyazoonga raised undisclosed amount of funding from Rata Tata, Chairman of Tata Sons according to reports. Mr Ratan Tata has invested in over 25 startups, with the most recent being Artificial Intelligence startup Niki.ai.
These funds will be used for expansion into international markets including the United States, West Asia, Pakistan and the Caribbean Islands.
Kyazoonga started in 2007 is founded by an MIT graduate Neetu Bhatia. She says “We have our own IP and ticketing technology platform that enabled us to scale up domestically. We largely focus on sporting and entertainment events, not really movies. That’s how we differentiate ourselves from the existing players in the market”.
Kyazoonga partners with sports franchises, music concerts, promoters and event organisers. According to Founder Neetu Bhatia the company sold more than 25 million tickets last year.
Kyazoonga competes with players like BookMyShow and MeraEvents in India.
According to BookMyShow Co-founder Ashish Hemrajani the size of the total addressable ticketing market in India is 500 million. Further, BookMyShow plans to sell close to 150 million tickets this year, an increase of 50 percent over 2015. This is four times of what Kyazoonga sold in 2015.
Further, Neetu believes that the US market for ticketing is even bigger, worth close to $25 billion for ticketing.
Apart from domestic sporting events like Pro Kabaddi League, Kyazoonga has ticketed international events like the ICC Cricket World Cup and the FIFA World Cup (qualifiers). The company is also contesting to be the official ticketing partner for the Rio 2016 Olympics.
Since last year September the company started ticketing for events in the US from its new office in Los Altos in Silicon Valley. They had already signed on two editions for the Carribean Premier League in West Indies for Rs 100 crore deal and also started ticketing for a few events in California and Washington DC. The company is also looking to triple its team of 50 in the next one year.