India: Bike hailing app newbies Baxi, M-Taxi & car rental startup JustRide get angel funds

The transport app segment in India is seeing a lot of traction with new players joining fray to solve the growing commuter woes in congested cities.

There are two startups, Baxi and M-Taxi, in the queue to launch two-wheeler based motorcycle taxis, to offer last-mile connect as also to navigate the choked roads faster.

While it remains to be seen how the two-wheeler taxi model gains currency in Indian cities, Asian neighbour Indonesia’s home brand Go-Jek has created a market disruptive model and styled itself a “driver, courier and personal shopper.”

In separate deals, bike ride-hailing app Baxi, two-wheeler taxi services startup M-Taxi and self-drive car rental startup JustRide, have raised funding.

Baxi raises $1.5m seed funding from ex-Canaan head Alok Mittal, others

Baxi, the Gurgaon-based bike-riding app which will start services from December 1, 2015, has raised Rs 10 crore ($1.49 million) from a group of high-net-worth individuals, The Economic Times reported.

These investors include Manish Kheterpal, managing partner of private equity firm WaterBridge Ventures; Alok Mittal, former India head of venture capital firm Canaan Partners and founder of technology startup Indifi Technologies; and Puneet Dalmia, managing director of cement major Dalmia Bharat Group.

The startup has also received all the permits from government of Haryana to run the business.

M-Taxi raises angel round

M-Taxi, an on-demand app-based two-wheeler hailing taxi service, has raised angel funding, led by Mandeep Singh and Jairaj Singh, according to a press release.

It has started the service in Gurgaon from metro stations and plans to spread across NCR in the next phase.

Launched in February 2015, M-Taxi is a personal time-saver that enables the use of technology in creating efficient, safe, and secure two-wheeler taxi services.

JustRide raises $2m in pre-Series A round of funding

JustRide, a Mumbai-based self-drive car rental startup, has raised $2 million in pre-Series A round of funding, according to a Business Line article.

It will use the money to update its technology. JustRide currently operates in Bangalore, Delhi, Mumbai and Pune, and is planning to expand its service in 12 more cities.

It had earlier raised Rs 4 crore in seed funding, and plans to raise Series A round too.

Also Read: Ride sharing app BlaBlaCar raises $200m from Insight Venture Partner, Lead Edge Capital & Vostok New Ventures
India: ah!Ventures invests in AHA Taxis; SenseGiz raises $500k from Karnataka Semicon
GrabTaxi steps up Uber rivalry in SE Asia with carpooling service

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.