The on-demand travel service platform, Jugnoo which connects drivers with passengers has raised US $1 Million in funds from investors including Rakesh Mathur, the CEO of Flywheel (earlier cofounded Junglee) and actress Saumya Tandon.
The other investors participated in the funding includes Kirloskar group, Vikas Taneja (senior partner at BCG and angel investor with exits from Pubnub and Rapportive), Just Weil (investor in Facebook and Yandex).
The funds raised will be used to launch Jugnoo services in six tier II cities like Ahmedabad, Surat, Pune, Lucknow, Indore and Kanpur during the next 6 months.
Flywheel has raised $12mn in Series C and is creating an ‘Uber’ alternative.
Jugnoo is an on-demand service platform that connects the passengers with its community drivers. The driver in close proximity picks up the ride request and charges the passenger according to the distance computed via Global Positioning System (GPS) on their cell phone.
At present the services are available 24 hours in Chandigarh Tri City area and Ludhiana with verified and trained drivers.