Company Name : Cabsguru
Funding Amount : Undisclosed
Investor(s) Prashanth Ranganathan
Funding Round : Angel round
New Delhi based cab search, comparison and booking platform Cabsguru, has raised angel capital from a group of investors at $3.5 million valuation.
The investment round was led by Prashanth Ranganathan, founder and CEO of Paysense and former Head of Product, APAC for PayPal.
Cabsguru was founded by Vikash Singh and Pulkit Ahuja. On Monday, Cabsguru announced that it has launched a multiple cab operator cab search and booking bot called Robocab.
“Robocab has been programmed to solve the most common pain point of today’s cab users – the pain of seeing No Cabs Available on your cab app screens during the peak morning and evening hours when you need your cabs the most,”said Vikash.
The fresh funds would be used by the company to further strengthen their product and enhancing efficiency at both the demand and supply sides of the ecosystem.
The company is also in the process of building a cross-vertical data gathering and analytics engine that is being designed to predict the Indian user’s impulsive preference of road travel across multiple verticals including bike taxis, self-drive cars and cab offerings from various cab providers.
Founded in 2014, Cabsguru has expanded itself to 75 cities and has emerged as a third party app that is providing end users with the complete end to end ecosystem starting from a single search for multiple cab providers like Ola, Taxi For Sure, Meru, Easy Cabs, Mega Cabs, Yo Cabs, Tab Cab, etc., to the booking, tracking and rating of cabs of these cab aggregators directly from the Cabsguru app.
The company claims that it has more than one hundred and twenty thousand organic users and handles more than a hundred thousand cab search, comparison and booking queries on a monthly basis.