Meru cabs has raised $50mn from India Value Fund Advisors. The company is also closing another $ 100 million , which is expected to be infused by the end of this month through a new set of investors.
Meru has a fleet of about 12000 cabs and the company reported its first profit in 2013-14, of Rs 3.6 crore. In 2012-13, it had a loss of Rs 31.1 crore [via].
Competition Ola which acquired TaxiForSure recently is reportedly raising $500mn.