TaxiVaxi, a company globally to introduce all road travel solutions on a common platform, has secured a second round of funding in a short span of seven months since it’s first round of funding (August 2015).The company has received its second round of funding from individual investors.
Established by entrepreneurs and co-founders, NeerajTayal, Ankit Gupta and Vinod Kumar, TaxiVaxi is the only company globally to introduce radio cabs, outstation cabs, self-drive cars/ bikes and car-pooling on one common application. The company is also one of the few start-ups to achieve a profitable status in a very short span of time.
Speaking on the second round of funding, NeerajTayal, Co-founder and CEO, TaxiVaxi.com, said, ‘We are very pleased to have secured a second round of funding in such as short span of time. We have grown exponentially since our launch and are one of the few start-ups in India to show a profitable status in this short span of time. The second round will be a structured transaction and we will be using the funds to expand into more cities, strengthening our technology base and increasing workforce. We are expanding our presence in corporate travel segment with cashless/ paperless travel for employees for multiple travel options and we are receiving really good response so far.’
With vast range of cab operators onboard, TaxiVaxi presently operates in 300 cities across the country including Delhi, Mumbai, Pune, Gurgaon, Jaipur and Lucknow among others. The company has a current user base of 15000+ and 20 corporate clients with aggressive plans to grow upto 500 cities and achieve a target user base of 1000,000 by end of 2016. After its Android app launch, the company has also launched an iOS app recently to expand its customer base. Additional features in the new app include TaxiVaxi Wallet, first of its kind offering in taxi market in India; Loyalty Programs with users getting Rs. 1 worth of credit for every 5kms travelled with TaxiVaxi (across any services) and Referral Programs with users getting benefit for referrals. The company offers services through mobile app and bookings on its website and allows users to compare fares and book a cab of their choice.