#taxiforsure has secured a significant amount in series C funding from Accel Partners. The exact amount of funding has not been disclosed but is expected to be anywhere between $30 mn to $50 mn. California based Accel’s partner Sameer Gandhi will join the company’s board of directors.
Prior investors Helion Ventures and Bessemer Venture Partners also joined the round. Accel Partners’ Indian investments include Flipkart, Myntra, BookMyShow and cloud-based customer support software startup Freshdesk.
TaxiforSure has seen 700-percent growth since August 2013, and surpassed more than 2 million transactions to date. TaxiForSure would be starting operations soon in Mumbai, Pune, Kolkata, Jaipur, Chandigarh, Surat, Indore, and Bhopal by the end of 2014. The company also has plans to launch in more than 25 cities across the country by next year.
TaxiForSure recently closed its Series B funding of $10 million in May.
In a very competitive taxi service market, TaxiforSure is looking to keep away the competitions from rivals OlaCabs and Uber. After Uber’s launch in India in August last year, they had also launched UberX, the low cost version of Uber. In recent fundings, OlaCabs also has secured Series C Funding of INR 250 crores From Steadview Capital and Sequoia Capital earlier in July.