TaxiVaxi a New Delhi based online cab aggregation platform has raised a funding of $500k in its second round from clutch of high net worth individuals. The funds will be utilize in product development and to expand their business.
Neeraj Tayal Co-founder of TaxiVaxi said
“We will be adding more services, and look to enhance our technology capabilities and develop the team further, as we keep growing our footprint.”
TaxiVaxi was founded in 2015 by Neeraj Tayal, Ankit Gupta and Vinod Kumar. It is a cab aggregator which includes radio taxis such as Ola, Meru cabs, Uber, tour operator and self-drive operators. In November 2015 TaxiVaxi raised a funding of around Rs. 35 lakhs. Currently it operated in 300 cities across India and claims to have 125-150 cab companies on their platform and also partners with 15 radio taxi operators.
Neeraj Tayal said
“In the B2B segment, we are currently doing between 150-200 rides on a daily basis, and we will be focusing on this segment in the immediate future, as we feel that this will allow us to penetrate the B2C space down the line.”
TaxiVaxi also provides its services to corporate segment by providing them a separate web-based solution through its app. It has around 20 corporate clients including Good Earth AON Hewitt, Global human resource firm among others.
TaxiVaxi’s revenue model charges their client on the basis of negotiated price. It charges 20% to the consumer and rest goes to the service provider. It claims to have earned a monthly revenue of around Rs 1 crore.