TheCollegeFever (TCF), a startup dedicated for selling tickets for college events, has successfully raised $250,000 (around Rs 1.7 crore) in seed funding from 11.2 Advisors – a Mumbai based investment firm. Apart from 11.2 Advisors, no other investment firm or independent investor participated in the round.
TCF’s founder Kushal Aralihalli said that the fund infusion will be used for customer acquisition and further improving the technology. Mr. Aralihalli founded the startup in 2016 in order to help students in buying tickets for college events.
The founder claims that the startup has grown 100% since its inception in 2016 and added that TCF has been go-to platform among IIT and IIM students for booking tickets for some of the prestigious college events.
Culturo Technology Pvt Ltd, the company that operates TCF , has some impressive numbers to show. It claims to have sold more than 4 lakh tickets worth more than Rs 10 crores. The company was able to achieve this goal lofty after partnering with more than 2000 colleges.
Mr. Aralihalli has categorically stated that his company is open for more funding rounds and expressed confidence about improving its market tractions despite tough completion.
TCF faces tough competition from big boys
While TCF may have made a very good start, the road ahead is very tough owing to intense competition from big boys like BookMyShow and Paytm. Both these startups are heavily funded and hence can easily trample small startups like TCF.
Although BookMyShow and Paytm are primarily focused on selling movie tickets as well as tickets for big entertainment events, they also earn sizeable income by selling tickets for college events.
TCF will certainly have to keep raising funds not only to sustain competition but also to keep improving their market tractions.