Connecticut Innovations invests in Rally Bus' $1.25m seed round to increase the size of the company and increase marketing.
Rally Bus, a US-based event travel company, has raised $1.25m in seed funding from a consortium including state of Connecticut-created Connecticut Innovations.
Connecticut Innovations was joined in the round by US-based accelerator and venture capital company YEI Innovation Fund that run by the Yale Entrepreneurial Institute, US-based financial services company First Niagara Bank and angel investors.
Rally Bus, that offers luxury bus transportation for events, also raised $100,000 in seed funding from the YEI Innovation Fund in November 2014.
Numaan Akram, chief executive and founder of Rally Bus, said: “We felt that there was huge demand for better event travel options, so we created a platform that marries technology with today’s digital sharing economy to transform bus service into what we call a ‘social mobility network’.”
Rally Bus plans to use the investment to increase the size of its team, increase marketing and make technology investments.
This article first appeared on our sister site Global Government Venturing.
