Gujarat-based taxi service OneWay.Cab has raised $450,000 (30 Million INR) from Indian Angel Network (IAN) for expansion, tech upgrade and hiring.
“After been funded, we expect to accelerate our growth in excess of 45-55% month-on-month” said Sanghvi, chief operating officer of OneWay.Cab.
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Based out of Ahmedabad/Vadodara, OneWay.Cab is considered a key differentiator in the organized travel space, charging only for a one-way trip in inter-city travel. It has recently launched referrals and non-cash- based wallet with an eye on a broad-based future growth. It has pioneered in Western region of the country covering over 100 one-way routes from Ahmedabad, Rajkot, Udaipur, Jaipur, Vadodara, Surat, Mumbai, Nashik and Pune.
This is a proud moment for OneWay.Cab. Starting off from a city like Vadodara where startup ecosystem is yet to be developed to fall back on and so far it had been a challenge to secure funding. However, getting connected to IAN made it an effortless not only for funds but also for securing guidance in future strategies. The funding has come at a crucial time when OneWay.Cab has its eyes set on a broader horizon, trying to push boundaries to take its superior services to a wider base of customers.”
“Digitalisation is transforming all industries and we have seen the impact of digital in intra-city travel,” said Gupta, the IAN investor.
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