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
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.
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