Serendipity Infolabs Pvt. Ltd., which runs the online taxi booking site #taxiforsure, has raised venture capital funding from Accel Partners, Helion Venture Partners and Blume Ventures. As part of the transaction Anand Daniel of Accel and Ritesh Banglani of Helion have joined the board of the company.
Started by IIM Ahmedabad graduates Raghunandan G and Aprameya Radhakrishna in June 2011, TaxiForSure is an aggregator of car rentals and taxis in India (offers point to point, local packages, outstation and airport transfer taxis, across various car types). The company started operations in June 2011 and is currently active only in Bangalore (plans to expand to other cities, post funding).
Question: Too many 1-city players hoping to expand to multiple cities too soon? And too much VC money in it already (without much of validation)? Or are these future categories being funded for acquisitions by big players like MMT/redBus etc?
What’s your opinion?
Other funding in taxi booking space :
- Olacabs secures Series A round from Tiger Global
- Car Rental Service, Savaari secures Series A funding from Inventus Capital