So while you were already pretty messed up with having multiple cab apps onyour phone, there’s one more which wants a space on that limited smartphone screen of yours. This one though, might just be the one you may need among all others. TaxiVaxi, a mobile app aggregator for booking cab services (Ola, Uber, Meru, others) has today raised around $500,000 in its seed funding round from a group of angel investors.
While the amount invested in the company has been disclosed, the company declined to disclose names of the investors. The funding raised in this round will be used by the company to further expand its presence across the country, as well as towards product development.
TaxiVaxi Chief Executive Neeraj Tayal, said,
We will be adding more services, and look to enhance our technology capabilities and develop the team further, as we keep growing our footprint.
In the B2B segment, we are currently doing between 150-200 rides on a daily basis, and we will be focusing on this segment in the immediate future, as we feel that this will allow us to penetrate the B2C space down the line.
The company was founded in July last year by Neeraj Tayal, Ankit Gupta and Vinod Kumar. It is a platform that acts as an aggregatos of cabs, including radio taxis, such as Meru Cabs, ride-hailing apps, such as Ola and Uber, self-drive operators, and tour operators.
Using its platform, users can compare fares, ratings, availability and then book the cab immediately. The startup also provides 24X7 customer care to cater to any of the customer requirements.
It had earlier raised angel funding of around Rs 30 lakh to Rs 40 lakh in November last year. The company operates in 300 cities across the country, and claims to have between 125-150 cab companies on its platform.
The startup’s revenue model includes billing clients based on the pricing negotiated with them. On the consumer side, the company charges users around 20%, with the remaining going to service provider.
And while you wonder how that model could work, considering that a user can book an Ola, Uber directly, the company is claiming to currently clock revenues of about Rs 1 crore on a monthly basis. The company is also planning to enter into bus segment where users can hire a coach at the click of a button.