Serendipity Infolabs, which runs online taxi booking site TaxiForSure.com, has raised venture capital funding from Accel Partners, Helion Venture Partners and Blume Ventures. The exact financial details of the funding have not been disclosed. Following the transaction Anand Daniel of Accel and Ritesh Banglani of Helion have joined the board of the company.
TaxiForSure.com is an aggregator of car rentals and taxis. The site works with various taxi operators and offers its technology platform to them. Customers can book local point to point, local packages, outstation and airport transfer taxis, across various car types, by logging on to www.taxiforsure.com or by calling 080 6060 1010. The company was founded by Raghunandan G and Aprameya Radhakrishna, starting operations in June 2011 and have since enabled bookings in Bangalore predominantly. Expansion plans are on the cards and the site intends to service all major cities including Delhi and Mumbai in the near future.
Other fundings in the online cab aggregator space: It’s interesting to note that there have been a series of funding rounds in the online cab bookings space, this year – ANI Technologies’s online car rentals and cab services venture, Olacabs.com raised an undisclosed amount in a Series A funding from Tiger Global Management in April. Bangalore based Savaari Car Rentals Pvt Ltd, which offers an online rental service for chauffeur-driven cars, also raised Rs 5 Crore in a series A funding from Inventus Capital Partners.
Another Bangalore-based startup YourCabs.com which offers online aggregation of local cab rental services in Bangalore, had raised angel funding from Sprism Investment Pvt Ltd. Bangalore based online car rental booking service, Taxiguide also raised Rs 25 lakh in angel funding from Anand R P. Other players in the space include, Getmecab.com, which offers cab rentals in Delhi-NCR, Mumbai and Bangalore, and has tie-ups with around 25 car rental operators such as APEX, Global Travels, RBTS, KS Car Hire and RBS Tours and Travels.
But this also means that there would be over laps, and with more than 3 players in certain markets, it looks like the segment is the latest fad, with more startups jumping the gun. While this means that cab operators in the unorganised sector get a lot of choice, and can even choose to sell inventory on more than one player, we’re not sure if aggregators would like more competition since every one would want operators to choose their technology platform. Also, over a period of time, this sector might see some consolidation as more players start sharing the same markets, and cost of customer acquisition increases.