Shared taxi service, Sharedcab.com has raised angel investment under 5 Crores from prominent investors – Anupam Mittal, Sasha Mirchandani (Kae Capital), Blume Ventures and few others. The funds will be used for product development, marketing and building the organization.
Launched in October 2012, Sharedcab aggregates existing taxi operators and provides shared taxi services to customers for regular travel (available only in Mumbai).
Sharedcab has been founded by two senior professionals, Prakash Sikaria and NV Subramanian. Before this venture, Prakash was an investment banker in Barclays, New York and NV was a Business Head at Big Bazaar.
With a fleet of over 500 taxis, SharedCab claims to be the only company that offers an assured AC taxi for regular, day to day travel to daily commuters (be it for work or study).
- In April this year, car rental service, Savaari secured Rs. 5 Crores ($1mn) in Series A from Inventus Capital,
- Olacabs had raised Series A funding from Tiger Global.
- Bangalore based TaxiForSure, had raised venture capital funding from Accel Partners, Helion Venture Partners and Blume Ventures in June 2012.