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Brand Capital invests in taxi operator Meru Cabs

Meru Cabs has raised Rs 150 crore (~$25 million) from Times of India Group's (BCCL) Brand Capital. The taxi operator said it would use the funds to further strengthen its foothold in the Indian market. It's interesting to note that BCCL also invested in rival cab operator Uber last year. Meru will be deploying these funds primarily to increase brand awareness with the aim of widening its customer base. So it looks like this will be another ads-for-equity deal. The Times of India Group pioneered private treaties business, now called ‘Brand Capital‘, which involved taking equity in companies in exchange for marketing inventory. An example of how private treaties deals were structured, here. Meru had raised $50 million (about Rs 300 crore) from existing investor India Value Fund Advisors in May 2015. India Value Fund Advisors owns more than 80% stake in Meru and it was…

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