wordpress blog stats
Connect with us

Hi, what are you looking for?

, , ,

TaxiForSure raises $10M and plans to expand services to 20 cities

Taxi aggregator TaxiForSure has raised $10 million in a round led by Bessemer Venture Partners. Existing investors Accel Partners, Helion Venture Partners and Blume Ventures also participated in the round. The company has access to a fleet of nearly 4,000 taxis in Bangalore, NCR and Chennai as of now. It is starting operations in Hyderabad this month and will use the funds to expand operations to 20 new cities in the next 18 months. Founded by IIM-Ahmedabad graduates, Aprameya Radhakrishna and Raghunandan G, in 2011, TaxiForSure has grown at a rate of 25-30% month-on-month over the past three years. It clocked one million transactions earlier in April this year. With this investment, the company has raised $15 million to date. it had raised an undisclosed amount last year from Accel Partners, Helion Venture Partners and Blume Ventures. It had also raised an undisclosed amount of funding from the same investors in May 2012. In that case however, Anand Daniel of Accel and Ritesh Banglani of Helion had joined the board of the company. Competition TaxiForSure competes against, Ola Cabs, that raised $20 million last year from Tiger Global Management and Matrix Partners. Ola also launched Ola Mini that charges auto fare in many cities earlier this year.Then there is Easy Cabs, which acquired the online car rental service aggregator, QCABS for an undisclosed amount. It also competes against Uber, which started operations in India in August last year. Other players in the segment include Meru Cabs, Saavari Car Rentals (raised Rs 5 Crore from Inventus Capital Partners),…

Please subscribe/login to read the full story.
Written By

I'm passionate about technology and gaming. You can follow me <a>@chupchap</a>

Free Reads

News

Telecom companies are against a regulatory sandbox, as they think information revealed by businesses during the sandboxing process might be confidential should be out...

News

According to a statement, the executive body of the European Union had also sought internal documents on the risk assessments and mitigation measures for...

News

The newly launched partially open-sourced LLM Grok-1 can be commercially used but not trademarked.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ