Exclusive: Taxi Rental Marketplace InstaCar Raises $1M Seed Funding

InstaCar, the Indore-based online outstation taxi marketplace has raised a seed round of $1 million from Honking-based Swastika Co Ltd, making it the first startup in Madhya Pradesh to receive foreign direct investment (FDI).

Commenting on the investment, Ishan Vyas, Founder and CEO said that Swastika Co Ltd chose InstaCar for its robust process of operations and a diversified experience. He further elaborated the startup’s USP, saying that, “India currently is flooded with taxi and rickshaw aggregators within cities while Ola recently launched its outstation services, but the solutions we are offering like choice of car make & model selection, actual photographs, background check of drivers, luggage carrier, pet-friendly cars etc are the differentiators and is probably a unique business model in India as well as global market.”

InstaCar was founded by Vyas, Anurag Gupta and Priyanshi Choubey.