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SharedCab Raises Rs 5 Crore From Blume Ventures & Others

SharedCab.com, a website that offers a platform where daily commuters can sign up for airconditioned chauffeur driven pooled cabs, has raised Angel funding from Anupam Mittal, Sasha Mirchandani (Kae Capital), Blume Ventures, Rajesh Sawhney and few others, reports NextBigWhat. The report pegs the investment to be under Rs 5 crore, and mentions that the funds will be used for product development, marketing and building the organization.

Note that SharedCab was among the 15 start-ups that were shortlisted by GSF Accelerator in its inaugural batch. At the time of writing this post, the service is available only in Mumbai. Users can sign up for the service by entering their desired start and destination points, and selecting the time of their pick-up and drop. The site claims that its systems efficiently pool users, matching routes in real-time, and offers cool cab sedans and small cars. The service also allows a group of three or more people to book a private shared cab. However, at this point in time, cab booking and payments are not online.

Founded by Prakash Sikaria and NV Subramanian, the service has access to a fleet of 500 cabs, according to the report.

It’s interesting to note that the site is focusing on daily commuters, instead of just aggregating cabs from offline operators, and facilitating regular bookings online. We’re not sure about the company’s business model but we assume that it might be working on a commission basis with operators.

Other investments in online Cab booking services

In July, taxi rental service Bookmycab had received its first round of funding from an early stage venture capital firm YourNest Angel Fund and Mumbai Angels.  YourCabs had also raised angel funding from Sprism Investment Pvt Ltd in April. TaxiGUIDE, a Bangalore based cab booking service had raised Rs 25 lakh in angel funding from Anand R P.

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