Noida-based AHA Taxis, an online outstation taxi aggregator, has raised an undisclosed sum in its pre-Series A round led by Lead Angels and existing investor ah! Ventures, a top executive told DEALSTREETASIA.
The company plans to use the proceeds to expand into newer geographies and further strengthen its operations and services to customers, said Amit Grover, founder, AHA Taxi.
“The estimated $12-billion 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,” said Sushanto Mitra, CEO Lead Angels.
AHA Taxi was founded in April 2015 by former Infosys professional Grover, Praveen Samariya (ex-Times Internet); Kunal Krishna (ex-Headstrong, Copper Mobile); Kumar Arayan (ex-Swiggy), and Shivam Mishra (ex-CrazZy Ventures).
In November 2015, the company had raised an undisclosed amount of angel funding from ah! Ventures.
Commenting on the fresh investment, Harshad Lahoti, founding partner & CEO of ah! Ventures, said, “Since ah! Ventures’ seed round investment in AHA Taxi, the company has grown 10x and also achieved operational breakeven on a monthly basis. 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.”
AHA Taxi, a unit of WAAH Taxis Pvt Ltd, helps travellers save cost on outstation travel by charging only for actual kilometres travelled. It is available in over 350 cities across India.
“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 and Uber, is a big positive,” said Amit Grover.
Lead Angels, an alumni-focused pan-India angel network, last month led an angel round in Gurgaon-based esports startup PlayX. Some of its past investments include character merchandising startup Planet Superheroes, online gaming store GameXS and ed-tech company CarveNiche.
Mumbai-based ah! Ventures, which typically participates in angel and seed stage funding through its platform of over 800 investors, counts Gurgaon-based entry-level talent acquisition startup Kickstart Jobs, on-demand chauffeur provider DriversKart, Hindi social networking platform ShabdaNagari and matchmaking startup Aisle.co among its portfolio firms.