OneWay.Cab a Gujarat based traxi service provider has raised a seed funding of around $450k from Indian Angel Network- IAN. The funds will be used in expansion, hiring and technology upgradation.
Ajay Gupta the lead investor from IAN will join the company’s board. Rahul Mehra and Abhishek Agarwal will be providing guidance and mentor the team.
It was founded in 2015 by Devang Sanghvi, Vivek Kejriwal and Pankaj Gandhi. It charges the passengers travelling from one city to another for actual journey, some cab aggregators charges return fare as well.
With instant booking and confirmation it provides clean and professional cab services and it payment gateway includes Net Banking, Credit and debit card. No extra charge for night time and no luggage charges. In annual revenues it claims to generate a revenue of $1 million.
It currently is operating for more than 100 one way routes from Rajkot, Ahemdabad, Jaipur, Udiapur, Pune, Nashik, Surat, Vadodara and Mumbai. With a customer base of 30k+ customers it gets 50% booking from Gujarat and 40% from Maharashtra.
Ajay Gupta lead investor for IAN said
“Digitalisation is transforming all industries and we have seen the impact of digital in intra-city travel. Inter-city taxi (service) is a much larger market in India and it requires a very different mindset, organisation and technology than intra-city. OneWay.Cab is best positioned in this space to tap the market.”