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Funding Digest: edabba, Taxiguide, Yourcabs

New Delhi based E-tailing site edabba.com, owned by Omnipresent Retail Pvt Ltd has raised $1 Million in a series-A funding round. As reported by VCCircle, investors include Satyendra Shukla (CEO & founder of Four-S Services Pvt Ltd) and Amit Patel (who is also part of a jewellery company) among others. The company plans to use the funds raised in the current round for bankrolling the expansion plans and marketing of the model.

Unlike other eCommerce sites, edabba.com intends to make e-commerce inclusive by setting up physical contact points in ‘trusted’ established local stores in B and C class cities with  a hybrid model – ‘brick & click’. It ties up with various offline retailers on the website and uses their infrastructure and reach to sell products and services.

Currently, edabba operates in Uttarakhand, Rajasthan, Bihar, and Goa, the firm plans to enter 10 other states with Punjab on its hit list.


Bangalore based online car rental booking service, Taxiguide has raised Rs 25 lakh in angel funding from Anand R P, reports VCCircle. Anand R P,  investment director at Squadron Capital, has made this investment in his personal capacity. The capital raised will be used for for expanding operations and meeting working capital requirements. However, Taxiguide is also looking to raise $2 Million in a Series A round which it intends to use for customer acquisition, hiring, improving the technology, and marketing.

Taxiguide operates in 75 cities operates as a car rental aggregator, bringing together taxi operators and retail customers on one platform. Taxiguide competes against other car rental aggregators like Savaari.com, YourCabs.com, Getmecab.com and Olacabs.com. It also competes with private taxi service operators like Easycabs and Meru Cabs, which  recently partnered with the travel portal Cleartrip to offer a cab booking service for Cleartrip customers.

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Bangalore based  Yourcabs.com, another online cab booking service provider, has raised an undisclosed amount  in angel funding from Sprism Investment Pvt Ltd and an unnamed angel investor, reports VCCircle. The capital raised will be used for expanding operations, meting technology back-ends requirements and marketing needs. However, Yourcabs is also looking for a bigger round of funding by the end of this year.

Along with operating as car rental aggregators, collaborating with taxi vendors for providing services like booking a city taxi (for in-city travel), an airport taxi (pick-up and drop) or outstation cabs (within 2,500 km), Yourcabs also provides rental of luxury cars, vans and mini-buses, as well as group bookings for weddings and corporate hires.

Just like Taxiguide, Yourcabs competes against car rental aggregators like Savaari.com, Getmecab.com and Olacabs.com. Most of the start-ups in online car rental aggregators have closed funding rounds in last 2-3 weeks.

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