Cab search and booking platform Cabsguru has raised funds from Prashanth Ranganathan, founder and CEO of Paysense and former head of product, APAC for PayPal. Event planning platform BookEventz, formerly known as Urbanrestro.com, has raised an undisclosed amount in a second funding round led by Mumbai Angels.
Cabsguru secures funding from Prashanth Ranganathan
Cab search and booking platform Cabsguru has raised an undisclosed amount in an angel funding round led by Prashanth Ranganathan, founder and CEO of Paysense and former head of product, APAC for PayPal, according to a statement.
The fresh funds will be used by Cabsguru, run by Nohup Technologies Pvt Ltd, to further strengthen its product, the statement said.
The company is also in the process of building a cross-vertical data gathering and analytics engine that is being designed to predict the Indian user’s impulsive preference of road travel across multiple verticals including bike taxis, self-drive cars and cab offerings from various cab providers. On Monday, Cabsguru also launched a multiple cab operator, cab search and booking bot called Robocab.
“The idea of Robocab came to life after going through the same problem on a daily basis. Robocab ensures that Cabsguru users don’t have to sit and keep juggling between different cab apps during rush hours until they find a cab. Robocab handles this for the users based on their pre-defined preference of time, cab operator, cab type and surge pricing,” said Pulkit Ahuja, co-founder of Cabsguru.
Founded in 2014 by Ahuja and Vikash Singh, Cabsguru has expanded itself to 75 cities so far. It claims to be the only third party app that is providing end users with the complete end to end ecosystem starting from a single search for multiple cab providers like Ola, Taxi For Sure, Meru, and Easy Cabs to the booking, tracking and rating of cabs of these cab aggregators directly from the Cabsguru app.
BookEventz gets funds from Singapore, Mumbai Angels
Others who participated in the round include Singapore Angel Network and serial investor Zishaan Hayath.
The fresh funds will be used to bolster the technology backend and an aggressive marketing campaign for the portal, the statement said. The company’s focus will be on building products to make the whole booking process seamless for the users and to expand service offerings.
BookEventz was founded in 2012 by Shriti Chhajed, an engineer and MBA from SP Jain, along with Harsh Baid, an IIT-Bombay and IIM-Lucknow alumnus. This is the first institutional funding for BookEventz, after being established from personally invested money of the founder, Harsh Baid and few friends and family members.
Currently, BookEventz has over 2000 vendors listed with it across 11 cities. The website claims to have served 2000 customers last month and made over 100 bookings. By Jul 2016, the platform aims to achieve monthly 20,000 customers bookings.