InstaCab, the cab aggregator platform for outstation travels with claims of over $1 Million GMV, has today announced that it has re-branded the product and services to new brand name – Roder.in. Along with that, the company has also expanded the services to 12 more cities in North India.
The company, which aims to make over-expensive outstation cab travel affordable and accessible to everyone, was started off as a marketplace for taxi industry. After generating GMV of Rs. 1 million in just under 4 months, the team identified serious problems in the outstation taxi industry, which had been neglected by the major players in the market.
It aims to eliminate “the return-fare” concept from the market by optimizing resources so that customer only have to pay for the distance travelled. With a fleet of 2,500 drivers, the company does not own cars.
Its“one-way rates” operations are spread across more than 350 routes covering North India, providing good connectivity with well-maintained cabs at affordable prices.
Roder.in has expanded and started accepting booking requests from the cities including Chandigarh, Amritsar, Ludhiana, Jalandhar, Agra, Dehradun, Rishikesh, Haridwar, Jaipur, Ajmer, Pushkar, Kanpur, along with Delhi-NCR.
The company is currently offering three types of cars – mainly hatchbacks, sedans and multi-utility vehicles. From January to October, the company has seen over 1,500 outstation trips with average size being to the tune of 5,000, generating a GMV of around INR 8 million.
Founded in 2014 by Abhishek Negi, Ashish Rajput and Siddhant Matre, the company is charging commission per ride provided to the operators. It also claims to be focusing heavily on driver verification and cab verification to ensure customer safety. Last month, it raised $3,50,000 in seed funding.
According to India Radio Taxi Services Market Forecast & Opportunities, and RedSeer Consulting, the taxi market in India is estimated at $9 billion; the organized sector constituting around 6% of the revenue market share. The taxi services revenues in India are forecast to grow at a CAGR of about 25 percent during 2014-2019.