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Online Taxi Booking Site TaxiForSure Raises Funding From Existing Investors

taxiSerendipity Infolabs, which runs online taxi booking site, TaxiForSure.com has raised first round of funding from its existing seed investors, Accel Partners, Helion Venture Partners and Blume Venturesreports Economic Times.

Although the exact amount of funding is not known, speaking to the publication, Aprameya Radhakrishnan, co-founder of TaxiForSure said that they had raised $4 million funding so far and the current round accounts for majority of the investment. It is also not clear what the company intends to do with the funds.

Previously, In May 2012, the company had raised undisclosed amount of venture capital funding from Accel Partners, Helion Venture Partners and Blume Ventures. Following the transaction, Anand Daniel of Accel and Ritesh Banglani of Helion had joined the board of the company.

Started in 2011 by Raghunandan G and Aprameya Radhakrishna, TaxiForSure is an aggregator of car rentals and taxis working with various taxi operators to offer 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 6060 1010 in Bangalore and Delhi. Their website suggests that they plan to expand to other major cities in the country as well.

Funding in Online Taxi Booking Segment: In April 2012, Olacabs.com, ANI Technologies’s online car rentals and cab services venture had raised an undisclosed amount in a Series A funding from Tiger Global Management.

In the same month, Savaari Car Rental Pvt Ltd which offers an online rental service for chauffeur-driven cars, had raised Rs 5 Crore in Series A funding from Inventus Capital Partners. YourCabs.com that offers online aggregation of local cab rental services in Bangalore had also raised angel funding from Sprism Investment Pvt Ltd. in April 2012 and so did, Taxiguide, another service which had raised Rs 25 lakh in angel funding from Anand R P.

In May 2012, Car rental company, Carzonrent India Pvt Ltd, which operates Radio Taxi services under the name Easy Cabs had also acquired the online car rental service aggregator, QCABS although the financial details of the deal were not disclosed.

It is also speculated that U.S based online cab service, Uber may be launching in India and has already listed three job openings for a community manager, a general manager and an operations & logistics manager in Bangalore.

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