MyTaxiIndia a Delhi based cab rental platform raised $1 million in bridge round of funding from an existing invester and a taxi rental company in Japan, Nihon Kotsu.
The funds will be used for marketing, branding, technology development and to expand its services in Tier 2 and Tier 3 cities.
Ichiro Kawanabe, Chairman of Nihon Kotsu said,
“We pursue the similar business model, which provides an IT platform that connects customers and duly licensed taxi companies of the local area, but not illegal taxi service provides or unlicensed taxi drivers. As companies that share common values and business model, we believe we can exploit good synergy across the border.”
It was launched in 2012 by Anshuman Mihir, Rahul Satyakam and Mohit Rajpal. It offers intra and inter-city travel for business and personal requirements which includes tranportation for travel agents and travellers. It provides services across 102 cities with a fleet size of more than 12,000 taxis which also allows it to place bookings for buses and tempo travellers.
In June 2015 MyTaxiIndia raised funding of $100k from Green House Ventures Accelerator. In August 2015 it raised $500k in its Pre-Series A round of funding from Nihon Kotsu.
MyTaxiIndia has recently tied up with SpiceJet to allow the passengers to book taxis to reach the airport at the time of the ticket purchase.