Another shining star in Innovify’s portfolio - Oneway.cab raises funds - Innovify

Another shining star in Innovify’s portfolio – Oneway.cab raises funds

June 15, 2016

Another shining star in Innovify’s portfolio – Oneway.cab raises funds

IN News

Onewaycab 2

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.

Innovify mine ideas which is then melded with technology to produce useful products for people to use. Our goal is to transform ideas into scalable products that enhance the lives of those using them.

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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