TaxiVaxi has secured $500K in its second round of funding in a span of seven months since it’s first round of funding (August 2015).
The company has received its second round of funding from individual investors.
Established by entrepreneurs and co-founders, NeerajTayal, Ankit Gupta and Vinod Kumar, TaxiVax has globally introduced radio cabs, outstation cabs, self-drive cars/ bikes and car-pooling on one common application.
NeerajTayal, Co-founder and CEO, TaxiVaxi.com, said, “We are very pleased to have secured a second round of funding in such as short span of time. We have grown exponentially since our launch and are one of the few start-ups in India to show a profitable status in this short span of time. The second round will be a structured transaction and we will be using the funds to expand into more cities, strengthening our technology base and increasing workforce. We are expanding our presence in corporate travel segment with cashless/ paperless travel for employees for multiple travel options and we are receiving really good response so far.”
With vast range of cab operators onboard, TaxiVaxi presently operates in 300 cities across the country including Delhi, Mumbai, Pune, Gurgaon, Jaipur and Lucknow among others.
The company has a current user base of 15000+ and 20 corporate clients with aggressive plans to grow upto 500 cities and achieve a target user base of 1000,000 by end of 2016.