Noida based startup, AHA Taxis has raised an undisclosed amount in Pre-Series A funding led by Lead Angels Network and ah! Ventures platform. The company plans to use the funding to expand its reach to newer geographies, and further strengthen the operations and service offering to customers.
An IIT-IIM team led venture, AHA Taxis is set out to make inter-city travel easy, convenient and enable a user to save 40-50% on outstation taxis in over 350 cities across India, with 24x7 availability on mobile and web.
Founder of AHA Taxis, Amit Grover stated “Three years back, we set out to solve a uniquely Indian problem of affordable and available outstation taxis. I am proud to have built a solution which caters to thousands of customers and drivers every day. Our investors’ show of confidence in our approach, despite the presence of biggies like Ola/Uber, is a big positive.”
Traditionally, inter-city taxi operators charge a return fare from customers even for one-way trips, as they are not assured of passengers on return journey.
AHA Taxis addresses the issue of double fare charges for outstation taxi travel by integrating technology, marketing and operational efficiency, leading to a highly viable alternative to trains and buses.
Sushanto Mitra, CEO Lead Angels, said, “The estimated $12B market of inter-city taxi services market has seen many causalities, however, with their focus on unit economics, robust technology and frugal operations Aha Taxi has ensured its place in this high potential market .”
Harshad Lahoti, Founding Partner & CEO of ah! Ventures, commented, “Since ah! Ventures’ seed round investment in AHA Taxi, the company has grown 10X and also achieved operational breakeven on monthly basis. Besides, despite the immense competition through applications such as Ola and Uber, AHA Taxi has created their own space and doing consistently well in maintaining the set standards and providing satisfaction to their customers. The positive reactions from their customers is a clear indication that AHA Taxi is on the right track and will create their own niche space in the near future. We are positive of their service offering & technology and also of their ability to create significant shareholder value."