E-commerce startup Gill Business Systems snags $3m


gill businessE-commerce startup Gill Business Systems has netted $3m in a Series A round backed by venture capital firms InVenture Partners, Intel Capital and FinSight Ventures.

The round marked the first outside investment in the company, which previously was funded by its founders.

The company is focused on developing a inventory distribution system* for passenger bus transportation carriers and online ticket sales.

Gill Business Systems includes a software development company, GBS, which is based in Ukraine as well as distribution and sales units in Russia, Ukraine and Thailand.

InVenture managing partner Anton Inshutin said, “GillBus system, which has been developed for 3 years, solves a key problem of selling online tickets for intercity buses – the most affordable type of intercity public transportation.

“Currently GillBus helps over 600 bus carriers to sell tickets via online and offline channels, while its distribution network includes over 500 agents.

“Considering the advanced technologies of Gill Business Systems, we expect the company to become the absolute market leader in Russia, the CIS, as well as in several countries in South-East Asia and Africa.”

Earlier this year, Intel participated in a $40m Series D round for social media experience manager Sprinklr.

Copyright © 2014 AltAssets