ANI Technologies's online car rentals and cab services venture, Olacabs.com has raised an undisclosed amount in a Series A funding from Tiger Global Management. The company intends to use the funds raised to expand to more cities, improve its technology platform and hire more people. Launched in December 2010 by IIT Mumbai graduates Bhavish Aggarwal and Ankit Bhati, Olacabs.com essentially works as a marketplace, aggregating cab bookings and car rentals through different private taxi operators, small fleet operators and single vehicle owners. These car rentals might be point-to-point services within a city, hour-based rental services or an outstation travel. Olacabs currently provides service in Mumbai and Delhi with a Bengaluru launch expected soon. It claims to operate over 700 cabs in Mumbai and intends to expand its services to ten Indian cities within next year. Offerings: Olacabs currently has a web portal, a mobile optimized site and a 24x7 customer service centre. It claims to offer iOS and Android apps as well, although we couldn't find it on the iTunes store, Google Play store or on their website. The company stated that the iOS and Android app allow customers to track their cab on their mobile phones in addition to cab booking facilities. . The company also claimed that it has increased the inventory utilisation level among small cab operators (Owners of 1-3 cabs) from 40-50% to 70%. In April 2011, Olacabs had raised an undisclosed amount of funding from angel investors Rehan yar Khan, Shaadi.com Group founder Anupam Mittal,among others. It had then stated that it…
