TaxiForSure, the taxi aggregator in India, today announced a new round of funding led by venture capital firm Accel Partners. The exact amount of funding is not disclosed. Palo Alto, California-based partner Sameer Gandhi will join the company’s board of directors. TaxiForSure is part of a India-based, Accel-backed consumer brands such as Flipkart, Myntra and BookMyShow.
The company is targeting to be in more than 25 cities in the next 1 year and starting operations in Mumbai, Pune, Kolkata, Jaipur, Chandigarh, Surat, Indore, and Bhopal by the end of 2014. In just a little more than a year since the launch of its transportation mobile app in the Indian Google Play store, 45% of the company’s transactions are through online channels.
“This is a significant milestone for our company and the Indian ecosystem at large – Accel’s global reach brings invaluable experience, which allows us to leverage resources known to only a small number of India-based companies,” said Raghunandan G, TaxiForSure CEO. “Accel brings a strong track record of picking industry winners – we are focused on building a product that will improve the transportation ecosystem for millions of consumers.”
Prior investors Helion Ventures and Bessemer Venture Partners also joined the round. TaxiForSure recently closed its Series B funding of $10 million in May.
With operations in six major Indian cities (Bangalore, Delhi, Chennai, Hyderabad, Ahmedabad and Baroda), the company works with more than 5,000 drivers and more than 400 operators.
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