CamboTicket receives fund for expansion

Local tech startup CamboTicket is looking to improve its bus ticket booking platform after receiving $100K in early-stage funding from Cambodia-based venture capital and project management firm OBOR Capital, its executive said yesterday. Shivam Tripathi, co-founder of CamboTicket, said the company was set to receive an additional $50K to $100K from OBOR at a later stage depending on performance, while it was also in discussions with several international investors. The funding will also be used for marketing and improving brand awareness, particularly to draw in greater number of local Cambodian users, he explained. Tripathi added that the technological aspects of the business was where the company could compete with larger players in other countries, with the firm looking to Myanmar, Laos and Vietnam as initial locations for expansion. (Source: Phnom Penh Post)