Bookmycab.com Raises Funding from YourNest Angel Fund and Mumbai Angels

Thursday July 26, 2012 , 3 min Read

YourNest Angel Fund, an early stage venture capital fund has invested in Bookmycab.com, which offers lowest fare among all cab operators in Mumbai.

Bookmycab.com offers local travel – point to point, airport transfer and railway station transfer using metered taxi through its 24 hour taxi helpline website or by sending email. It is the only service provider to book Black & Yellow Taxis and Cool Cabs in Mumbai. The local taxi services are offered at regular fare structure as approved by transport authority:

Non AC – Rs. 17 for 1.6 Km and thereafter Rs. 10.5/Km,
AC – Rs. 21 for 1.6 Km and thereafter Rs. 13/Km

yournest — Bookmycab.com has an exclusive Pan India partnership with ARS SE (subsidiary of ARS Traffic & Transport Technology BV, The Netherlands) for running its entire technology back-end including dispatch technology comprising navigation device, automated dispatch technology and IT infrastructure. Following strict quality norms, every taxi under Bookmycab.com is RTO verified and passed through the stringent KYC norms for both taxi and taxi drivers. With real time tracking for every cab round the clock, Bookmycab.com ensures that its cabs are completely safe for women and old age passengers. With over 1900 taxis registered for the service, Bookmycab.com plans to use the funds raised from YourNest Angel Fund to expand its taxi base to secure a leadership position in Mumbai.

“Bookmycab.com is the only call taxi service in Mumbai to book regular Black & Yellow taxis which include the newer models like Santro, Wagon R, EECO, Swift Dzire, etc. While it offers the lowest metered fare to the customers it also ensures the passengers safety through real time tracking of every cab round the clock thus making it a distinct taxi service in the city,”says Avinash Gupta, Managing Director – Bookmycab.com Added Raviraj Jain, Founding Director, Bookmycab.com, “We aim to improve accessibility to taxis for the average commuter by providing them convenient booking options via the internet and phone. Soon, we’re also launching location-based iPhone and Android phone app and social media module to allow commuters to book taxis via Facebook.” Sunil K Goyal, CEO and Fund Manager, YourNest Angel Fund who will also join as a nominee on board of director of bookmycab.comsaid, “There is an urgent need to address the state of the local transport in metros like Mumbai. Presently, while commuters suffer due to lack of sufficient c

abs offering quality service, taxi drivers are faced with low earnings. Bookmycab.com effectivelyaddresses both these issues. As we move forward, Bookmycab.comwill extendthis model to other cities too.” “Great team, world class technology partner, licensed by the state government and a scalable business model attracted us to partner YourNest in sharing the vision of Bookmycab.com,” Anil Joshi, Mumbai Angels, said.