Inter-city cab rental firm MyTaxiIndia raises money for expansion
Summary
The seven sister states have huge potential with a large population base and scarcity of facilities such as taxi services, he said.Mihir said the money pumped in by ZGC Global, an investor and incubator for young innovative enterprises, will go into servicing MyTaxiIndias expansion plans. He, however, did not divulge the financial details, citing confidentiality.ZGC has business interests in real estate, hospitality and investment services, besides imports and exports. MyTaxiIndias craving for success and innovation will surely create a better future for the company and revolutionise the transportation industry, said Zaid Khan, chief strategy officer, ZGC Global.Mihir said the Dubai-based company will also participate in a Series A funding round, which will be finalised in the next four months. The firm was also part of Green House Ventures 12-month accelerator programme in June 2015, where it received seed funding of $100,000.The company was co-founded by Mihir, Mohit Rajpal and Satyakam Rahul in December 2013. Last year, it had tied up with SpiceJet to offer airport drop facilities for passengers who would book a taxi at the time of buying an air-ticket.It had also launched its mobile app on the iOS and Android platforms to allow customers to check availability of taxis in real time, provide instant confirmation with driver details and navigate the ride on the map.While a few funded ventures such as Meru, TaxiGuide and Savaari, AHA Taxis and Roder offer booking platforms for outstation travel, the market still remains largely unorganised, dominated by individual taxi operators.