Delhi based Cabsguru, a cab search, comparison and booking platform has raised $200,000 in Angel Funding led by Prashanth Ranganathan (Founder & CEO, Paysense & Former Head of Product – APAC for Paypal).
The company is valued at $3.5 million and is also looking to raise additional $150,000 as a part of the same round, as reported by VCCircle.
It was founded by Vikash Singh and Pulkit Ahuja in 2014. The App provides users with features such as cab search from leading providers – Ola, Taxiforsure, Meru etc. Further it can also be used for booking, tracking and rating of the cabs from these aggregators. Currently it has 120,000 organic users and handles 100,000 search queries on a monthly basis. Its services are available in 75 cities as per the company.
Cabsguru also launched a cab search and booking bot termed as ‘Robocab’. The bot will book cabs for users based on their pre-defined time preferences, operators, type and pricing. The company also aims to build a cross-vertical data gathering and analytics engine by investing in that direction.
The app based cab booking market is well established in India as a result of a homegrown unicorn – Ola and heavy interest of currently most valued Unicorn – Uber. While other Cab aggregator have also geared up strongly to compete for customers right on their Mobile.
The on demand transport space has also witnessed a few acquisitions, including Ola-TaxiforSure deal, and Auto-Aggregator Jugnoo acquiring Bookmycab to launch its cab services in Mumbai. Other similar startup in this space include TaxiVaxi.
Recently Delhi Government also announced to aggregate Delhi Cabs & Autos under PoochO App.
Booking a cab in India is getting easier than ever where the main problems for taxi aggregators will include unpredictable Government stance and lack of Internet connectivity, among others.